Asian shares pull back from highs on doubts over Trump's tax plan

TOKYO  - Asian shares eased from a near two-year high on Thursday as a long-awaited U.S. tax cut plan failed to inspire investors, though sentiment remained supported by global growth prospects and receding worries about political risks in Europe.

European shares are expected to slip, with spread-betters looking to a fall of up to 0.5 percent in Britain's FTS

U.S. launches national security probe into aluminum imports

WASHINGTON  - The U.S. Commerce Department launched an investigation on Wednesday to determine whether a flood of aluminum imports from China and elsewhere was compromising U.S. national security, a step that could lead to broad import restrictions on the metal.

Commerce Secretary Wilbur Ross said the investigation was similar to one announced last week for steel

Oil prices fall on lingering oversupply concerns

SINGAPORE  - Oil prices dipped on Thursday, weighed down by a general sentiment of globally bloated markets, though traders said that prices seemed to have found support around current levels.

U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.37 per barrel at 0644 GMT, down 25 cents, or 0.5 percent from their last close. WTI has lost around

27/04/2017 10:10:08 AM | Posted in Commodity Top News read full news
Donald Trump tells Canada, Mexico, he won't terminate NAFTA treaty yet - White House

WASHINGTON  - U.S. President Donald Trump told the leaders of Canada and Mexico on Wednesday that he will not terminate the NAFTA treaty at this stage, but will move quickly to begin renegotiating it with them, a White House said.

The announcement came after White House officials disclosed that Trump and his advisers had been considering issuing an executive orde

Donald Trump's plan to slash business taxes seen as 'guidepost' by congressional Republicans

WASHINGTON  - President Donald Trump unveiled a one-page plan on Wednesday proposing deep U.S. tax cuts, many for businesses, that would make the federal deficit balloon if enacted, drawing a cautious welcome from fiscal conservatives and financial markets.

While the proposed tax cuts would please those helped by them, such as multinational corporations and wealt

U.S. Congress may seek one-week funding extension to avert shutdown

WASHINGTON  - The U.S. Congress inched towards a deal to fund the government through September but was preparing to possibly extend a midnight Friday deadline in order to wrap up negotiations and avoid an imminent government shutdown.

The one-week extension would give leading Republicans and Democrats "a little breathing room" to finish negotiations and

Asian shares retreat from highs on doubts over Trump tax plan

TOKYO - Asian shares eased from a near two-year high on Thursday as a long-awaited U.S. tax cut plan failed to inspire investors, though sentiment remained supported by global growth prospects and receding worries about political risks in Europe.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 percent after hitting its highest level since June

Gold slips, but Trump tax reform doubts cap losses

Gold prices edged down on Thursday on ebbing geo-political worries but scepticism over U.S. President Donald Trump's proposed tax reform curbed further losses.

Spot gold was down 0.2 percent at $1,266.94 per ounce, as of 0406 GMT. Bullion prices edged away from a two-week low of 1,259.90, hit during the session on Wednesday.

U.S. gold futures climbed 0.3 percent to $1,26

World stocks hit record high as corporate America shines

LONDON  - World stocks hit a record high on Wednesday after strong earnings and the prospect of tax cuts for corporate America boosted U.S. shares and the euro held on to recent gains as political concerns in France ebbed.

European shares edged higher towards 20-month highs hit earlier this week after centrist Emmanuel Macron's win in the first round of Frenc

EXCLUSIVE: A New York hotel deal shows how some public pension funds help to enrich Trump

WASHINGTON  - Public pension funds in at least seven U.S. states have invested millions of dollars in an investment fund that owns a New York hotel and pays one of President Donald Trump's companies to run it, according to a Reuters review of public records. That arrangement could put Trump at risk of violating an obscure constitutional clause, some legal experts say.<

Donald Trump tax plan will sharply slash corporate tax rates

WASHINGTON  - U.S. President Donald Trump is proposing to slash the corporate income tax rate and offer multinational businesses a steep tax break on overseas profits brought into the United States, officials said late on Tuesday.

With financial markets eagerly anticipating a White House tax plan, Trump will also call for a sharp cut in the top rate on pass-throu

Nasdaq tops 6,000 as earnings boost Wall St.; U.S. tax code eyed

NEW YORK - The Nasdaq Composite hit a record high on Tuesday, while the Dow and S&P 500 brushed against recent peaks as strong earnings underscored the health of corporate America.

Caterpillar closed up 7.9 percent at $104.42 after earlier hitting a multi-year high of $104.89 and McDonald's  jumped 5.6 percent to $141.70, both after beating profit estimat

Oil breaks losing streak ahead of U.S. inventory data

NEW YORK  - Oil prices edged up in volatile trading on Tuesday, rebounding from six days of losses, ahead of U.S. crude inventory data forecast to show a drawdown.

U.S. crude futures settled up 33 cents to $49.56 a barrel, breaking a streak that saw the benchmark lose 7.4 percent. Brent crude settled up 50 cents at $52.10 a barrel.

Analysts forecast U.S

Asian stocks hover near 2-year highs on U.S. optimism, euro steady

HONG KONG  - Asian stocks extended gains for a fifth consecutive day on Wednesday, as renewed optimism about the world's biggest economy brightened the outlook for risk assets while the euro held on to previous gains as political concerns in France ebbed.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent, hovering near their high

McDonald's U.S. comparable sales rise 1.7 percent

McDonald's Corp reported a better-than-expected increase in quarterly sales at established U.S. restaurants, boosted by the expansion of all-day breakfast, and Big Mac and beverage value promotions.

The world's largest fast-food chain said on Tuesday that same-restaurant sales at McDonald's rose 1.7 percent in the three months ended March 31.

Analysts were expect

U.S. President Trump resorting to unilateralism with steel probe - China Daily

BEIJING  - Washington's move to probe steel imports could trigger a trade dispute between the United States and its major trading partners, who are likely to take retaliatory steps, the official China Daily said in an editorial on Monday.

The article was the strongest official response yet to U.S. President Donald Trump on Thursday launching an investigation

GST to boost growth by 4.2%, make products cheaper: Fed paper

The goods and services tax (GST) can boost India's GDP growth by up to 4.2 per cent — double the previous estimate -- as lower taxes on manufactured goods will bump up output and make products cheaper, a US Federal Reserve paper said. GST, it said, could reduce inefficiencies in the production process while eliminating the current compounding effect of different central and state levi

Arun Jaitley raises H-1B visa issue with US authorities

The vexed issue of the Trump administration mulling curbs in H-1B visas has been taken up with by Finance Minister Arun Jaitley with the American authorities during his ongoing visit, an Indian official said on Sunday.

The issue was raised by Jaitley during his meeting with US Treasury Secretary Steven Mnuchin here on Saturday, an Indian Finance Ministry statement said.

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Trump tax plan may produce some short-term budget issues - Mnuchin

WASHINGTON - U.S. Treasury Secretary Steven Mnuchin said on Saturday that the Trump administration's tax reform plan would produce some "short term issues" when viewed under traditional "static" budget analysis rules.

His comments during an interview by International Monetary Fund Managing Director Christine Lagarde suggested that the plan woul

Japan's Aso pushes back on U.S. call for scrutiny of currency moves

WASHINGTON  - Japanese Finance Minister Taro Aso said on Saturday trade imbalances cannot be fixed through exchange-rate adjustments alone, pushing back against Washington's calls to have more rigorous IMF scrutiny of currency moves.

Earlier, U.S. Treasury Secretary Steven Mnuchin called on the International Monetary Fund to enhance surveillance of its member

US teenagers love Instagram, Snapchat more than Facebook

It is not Facebook itself but its popular app Instagram — and its closest rival Snapchat — have become the most popular social media platforms among the teenagers in the US, a new survey has found.

The survey by Associated Press-NORC Center for Public Affairs Research at University of Chicago found that 76 per cent of American teenagers in the age group 13-17 use Instagram

Trump warming to EU trade deal with Britain behind in queue - Times

LONDON - The United States could strike a free-trade agreement with the European Union after President Donald Trump warmed to a deal with the bloc, the Times reported on Saturday, quoting sources from both sides of the discussion.

Post-Brexit Britain would be pushed behind Europe in the race to secure a U.S. deal after Germany's Angela Merkel persuaded Trump that

Dr Reddy's to sell Progesterone capsules in US

Indian drug major Dr Reddy's Laboratories on Friday announced it would sell Progesterone capsules in the US market for therapeutic treatment of cardiovascular disorders, breast cancer and probable dementia.

"The generic capsules, approved by the US Food and Drug Administration (USFDA), are a therapeutic equivalent version of Prometrium," said the city-based pharma compan

U.S. judge sentences Volkswagen to three years probation, oversight

By Nick Carey

DETROIT - A federal judge in Detroit on Friday sentenced Volkswagen AG to three years' probation and independent oversight for the German automaker's diesel emissions scandal as part of a $4.3 billion settlement announced in January.

The plea agreement called for "organization probation" in which the company would be overseen

Fed vice chair still sees two more rate hikes this year - CNBC

The U.S. Federal Reserve remains on track for two more interest rate increases this year despite some weak recent economic data including a drop in inflation, Fed Vice Chair Stanley Fischer said on Friday.

"We're feeling that way. So far I haven't seen anything to change that," he said on CNBC when asked whether two more policy tightenings in 2017 were appropriate, a