Business

WASHINGTON (Reuters) – The U.S. Federal Reserve cut interest rates again on Wednesday to help sustain a record-long economic expansion but signaled a higher bar to further reductions in borrowing costs, eliciting a fast and sharp rebuke from President Donald Trump. Describing the U.S. economic outlook as “favorable,” Fed Chair Jerome Powell said the rate
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FILE PHOTO – Markus Duesmann, board member of German luxury carmaker BMW attends the company’s annual news conference in Munich, Germany, March 21, 2018. REUTERS/Michael Dalder BERLIN (Reuters) – BMW’s (BMWG.DE) engine development and purchasing expert, Markus Duesmann, is set to become the CEO of Volkswagen’s (VOWG.DE) Audi premium brand, after BMW dropped its opposition
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SYDNEY (Reuters) – Australia’s banking watchdog on Friday said record-low interest rates are likely to benefit the country’s “Big Four” lenders over their smaller counterparts due to their better capital position and access to cheaper funds. FILE PHOTO: A man uses his mobile phone as he leaves the Commonwealth Bank of Australia building in central
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FILE PHOTO: A sign to the campus offices of chipmaker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake/File Photo (Reuters) – Broadcom Inc (AVGO.O) reported quarterly revenue that missed Wall Street expectations on Thursday, as the company faces a slowdown in chip demand and macroeconomic uncertainty due to the U.S.-China
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MEXICO CITY (Reuters) – Mexico’s $5 billion rescue package to pay down debt at Pemex [PEMX.UL] is a one-of-a-kind transaction that should give the struggling state oil company breathing space to focus on output and costs, Deputy Finance Minister Gabriel Yorio said. Mexico’s Undersecretary of Finance and Public Credit Gabriel Yorio speaks during an interview
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FILE PHOTO: U.S. Trade Representative Robert Lighthizer testifies before a Senate Finance Committee hearing on “The President’s 2019 Trade Policy Agenda and the United States-Mexico-Canada Agreement” on Capitol Hill in Washington, U.S., June 18, 2019. REUTERS/Leah Millis WASHINGTON (Reuters) – The Trump administration on Wednesday will submit to U.S. House of Representatives Democrats its latest
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