Richmond Fed chief repeats view of 'strong' case for June rate hike

The case for the Federal Reserve to raise U.S. interest rates in June remains “strong,” a top Fed official said on Friday, dismissing the impact of a rising dollar and falling oil prices as temporary. Richmond Fed President Jeffrey Lacker, who has long called for a prompt tightening of monetary policy, repeated his views that consumer spending, the labour market and other economic conditions have improved significantly over the last

AstraZeneca's diabetes drug Onglyza may increase death rate -FDA

AstraZeneca Plc’s diabetes drug Onglyza may be associated with an increased rate of death, according to a preliminary review of data by the U.S. Food and Drug Administration. The FDA’s report, posted on the agency’s website on Friday, comes ahead of an April 14 meeting of an FDA advisory panel to discuss the drug’s safety. Onglyza was approved in 2009. A company-sponsored trial of more than 16,000 patients known as

Bank of Japan's Nakaso warns market against betting on more easing

Bank of Japan Deputy Governor Hiroshi Nakaso has tempered market expectations that the bank will expand its stimulus program later this month, saying a cut in its inflation forecast would not be enough to justify more monetary easing. Nakaso, one of Governor Haruhiko Kuroda’s two deputies, said that while slumping oil costs have pushed inflation back to zero, rising wages and a steady economic recovery will underpin a long-term rise