German industrial group Siemens and French rival Alstom agreed to merge their rail operations, creating a European champion to better withstand the international advance of China’s state-owned CRRC. Siemens will own 50 percent plus a few shares of the joint venture, to be called Siemens Alstom, while Alstom will supply Henri Poupart-Lafarge as chief executive, […]
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European markets set to open higher on Yellen’s hawkish tone; Fortum bids for Uniper
European markets are expected to open higher Wednesday on growing expectations of another rate hike in the United States before the year-end. The FTSE 100 is set to open up by 5 points at 7,277; the DAX is seen higher by 14 points at 12,607 and the CAC 40 is set to begin higher by […]
Read moreThe unprecedented trio of major hurricanes that slammed the U.S. mainland and Puerto Rico could wipe out job growth for September and October, and some economists are expecting actual declines. “We’re creating an average 175,000 jobs a month … The problem is it looks like the hurricane disruption will overwhelm those job gains in September […]
Read moreDetails leaking out about the Republican tax reform plan hint that while two popular deductions would remain intact, they’d become useless to the majority of taxpayers who now take advantage of them. GOP lawmakers have signaled they’ll retain the tax breaks for mortgage interest and charitable contributions even as they pursue eliminating others. Yet given […]
Read moreTax and trade, the two big economic policy debates in the US right now, have long been viewed mainly through the lens of the country’s largest public companies. Their leaders want lower taxes, and claim that if the corporate rate were slashed from 35 per cent to 25 or 20 per cent (or better yet […]
Read moreLabor market disparities in the U.S. economy are curbing the nation’s long-run potentialgrowth, Federal Reserve Governor Lael Brainard said on Tuesday, as she urged the central bank to undertake more research to help diminish inequality. “To the extent that disparities in income and wealth across race, ethnicity, gender, or geography reflect such disparities in opportunity…the […]
Read moreSales of new U.S. single-family homes unexpectedly fell in August, hitting their lowest level in eight months, the latest indication that the housing market was slowing. The Commerce Department said on Tuesday new home sales decreased 3.4 percent to a seasonally adjusted annual rate of 560,000 units last month, which was the lowest level sinceDecember […]
Read moreLufthansa‘s supervisory board has approved plans by the airline to invest in up to 61 additional planes for its Eurowings budget arm, seeking to fill the gap left by insolvent German rival Air Berlin. The investment in purchasing and leasing 41 A320 single aisle jets and 20 Bombardier Dash 8 Q400 planes will total around […]
Read moreThe S&P CoreLogic Case-Shiller home price index rose 5.9 percent in July compared a year ago, better than the 5.7 percent expected by economists polled by Reuters. The rise was also higher than June’s 5.8 percent increase. David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, said consumers were […]
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Economist Adam Posen is changing his view on when the next US recession will hit
The inability of the U.S administration to pass new tax cuts has delayed the next boom and bust cycle in the country, according to one economist, who is still predicting that the U.S. is ultimately headed for a recession. Adam Posen, president of the Peterson Institute for International Economics, told CNBC in March that he […]
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