Tag: federal
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Yen up after attacks in Germany, Turkey, stocks steady on Yellen comments
The safe-haven Japanese yen was up in early Asian trade on Monday after attacks in Germany and Turkey spooked investors, while regional stocks were steady as financial markets pondered upbeat comments from the Federal Reserve Chair Janet Yellen. Traders were also looking ahead to the Bank of Japan's rates decision later in the day, and…
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Wall Street scion Caspersen gets 4 years in prison for $38.5 million fraud
By Nate Raymond NEW YORK (Reuters) – Former Wall Street executive Andrew Caspersen was sentenced on Friday to four years in prison for engaging in what prosecutors say was a Ponzi-like scheme to defraud investors including family members and friends out of $38.5 million. Caspersen, who worked at a unit of investment banker Paul Taubman's…
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Wall Street’s gains fade as Yellen questions economy’s resilience
(Reuters) – U.S. stocks ended little changed on Friday, losing ground late after Federal Reserve Chair Janet Yellen's comments on the economy unnerved investors.
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Wall Street sees Fed rate hike by year-end after jobs data: Reuters poll
A solid U.S. jobs report for September reinforced expectations among Wall Street's top banks that the Federal Reserve would raise interest rates by the end of the year, according to a Reuters poll conducted on Friday. Fourteen of the 15 primary dealers that responded to the poll forecast a rate hike at the U.S. central…
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Wells Fargo chief Stumpf heads to Hill with pressure mounting
Wells Fargo & Co's Chief Executive John Stumpf returns to Capitol Hill on Thursday with his job still under threat and the bank facing rising political pressure over a sales scandal that has become a major issue in Washington and on Wall Street. The bank's move earlier this week to claw back $41 million in…
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Yahoo says hackers stole data from 500 million accounts in 2014
The attack on Yahoo was unprecedented in size, more than triple other large attacks on sites such as eBay Inc , and it comes to light at a difficult time for Yahoo. Chief Executive Officer Marissa Mayer is under pressure to shore up the flagging fortunes of the site founded in 1994, and the company…
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White House says it sees a path to approval of Pacific trade deal
The White House said on Monday it could still win congressional approval of the Trans-Pacific Partnership trade pact before President Barack Obama leaves office, and warned that failing to do so would undermine U.S. leadership in the region. “The president is going to make a strong case that we have made progress and there is…
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Weak U.S. retail sales, inflation data dim prospect of Fed rate hike
By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales were unexpectedly flat in July as Americans cut back on discretionary spending, pointing to a moderation in consumption that could temper expectations of a sharp pickup in economic growth in the third quarter. Cooling consumer spending and tame inflation suggest the Federal Reserve will probably not…
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Wall Street slips as strong data raises chances of rate hike
The Labor Department said the Consumer Price Index increased 0.4 percent last month, the largest gain since February 2013, after rising 0.1 percent in March. “This morning the economic news was generally favorable suggesting that … the U.S. economy has improved to levels warranting something other that crises-level rates,” said Terry Sandven, chief equity strategist…