WASHINGTON (Reuters) – President Barack Obama said on Friday that the United States needs to be much more rapid in its response to cyber attacks. Obama, speaking at a town hall event with U.S. military members, described certain cyber practices from China as not acceptable. (Reporting by Julia Edwards; Editing by Sandra Maler)
With stocks already in a corrective phase on Wall Street, next week’s long-awaited Federal Reserve meeting may not spur a wild market reaction, even if the central bank hikes rates for the first time in almost a decade. Economists are about equally split on whether the long-awaited move will come, though futures market trades are pointing to at least one more month of the Fed delaying its 0.25 percentage point
U.S. consumer sentiment hit its lowest in a year in early September and producer prices were flat in August, signaling moderate economic growth and tame inflation that could weigh on the Federal Reserve’s decision whether to hike interest rates next week. The slump in consumer sentiment and persistently weak inflation reported on Friday are in stark contrast with a tightening labor market. Sentiment was likely undermined by recent stock market
Twelve major banks have reached a $1.865 billion settlement to resolve investor claims that they conspired to fix prices and limit competition in the market for credit default swaps, a lawyer for the investors …
Germany made clear it would agree to sharing more banking risk only if governments first proved they were ready to share more responsibilities as well, at a meeting of European Union finance ministers on Saturday. The ministers were discussing a deposit guarantee plan, an idea backed by the European Commission. It wants to propose steps toward a deposit insurance and reinsurance scheme in October, Commission Vice-President Valdis Dombrovskis said.
A group of major automakers accounting for more than half of U.S. auto sales will make automatic emergency braking standard on new U.S. vehicles in one of the industry’s biggest auto safety moves since it embraced technology to prevent rollovers more than a decade ago. The car makers, which accounted for 57 percent of car and light truck sales in the United States last year, said Friday they will work
KKR & Co and Apollo Global Management are seeking to acquire General Electric Co’s inventory finance arm, Bloomberg reported on Friday. The buyout firms made bids two weeks ago for GE Capital Commercial …
Two New York stockbrokers must face civil insider trading charges brought by U.S. securities regulators, a U.S. judge ruled on Friday, despite a landmark appellate ruling that torpedoed the criminal case against them. U.S. District Judge Jed Rakoff in Manhattan rejected a bid from former Euro Pacific Capital Inc traders Daryl Payton and Benjamin Durant to throw out U.S. Securities and Exchange Commission charges that they engaged in illegal trading
Boeing Co is planning to move final production work for some 737 jetliners to a new facility in China, and is timing an announcement to coincide with the first U.S. state visit of China’s president, Xi Jinping, later this month, according to a published report. The report in Aviation Week on Friday appeared to surprise elected officials, unions and industry leaders in Washington state, where Boeing now builds all 737s.
In a 129-page decision on Thursday, U.S. District Judge Andre Birotte in Los Angeles said the Academy failed to show that GoDaddy acted in bad faith by letting customers purchase 293 domain names such as academyawards.net, oscarsredcarpet.com, billycrystal2012oscars.com and theoscargoestothehangover.com. The Academy sued GoDaddy in 2010, accusing the Scottsdale, Arizona-based company of letting customers “park” their pages on the Internet and share in revenue collected from advertising on those pages.
