Federal Reserve Chairman Jerome Powell, pledging to strike a balance between the risk of an overheating economy and the need to keep growth on track, told U.S. lawmakers on Tuesday that the central bank would stick with gradual interest rate increases despite the added stimulus of tax cuts and government spending.
US billionaire Warren Buffet says his conglomerate has received a profit boost of US$ 29 billion as a result of President Donald Trump's tax reforms, he says. Berkshire Hathaway reported a record quarterly and annual profit on Saturday.
Argentine farmers have agreed to pay perpetual royalties when they replant genetically modified seeds made by companies like Monsanto Co, a deal that could allow farmers access to the newest biotechnology.
The US arm of Japanese manufacturer Takata has reached a settlement with 44 US state attorneys-general into claims it concealed dangerous defects in its exploding airbags. The faulty airbags have been linked to at least a dozen deaths and more than 100 injuries worldwide. The settlement includes a civil penalty of about US$650m.
President Donald Trump floated the idea of arming teachers and promised more stringent background checks on gun owners as he hosted an emotional meeting on Wednesday with students who survived last week’s mass shooting at a Florida school.
The U.S. Department of Agriculture sees U.S. corn and soybean exports generally increasing over the coming decade but the U.S. share of global sales will shrink as competition from South American producers heats up, the government said in its annual report.
United States Federal Reserve officials grew more positive on the economic outlook, citing “substantial underlying economic momentum,” and were increasingly optimistic about achieving their inflation target, according to minutes of last month’s policy meeting.
Argentina is taking new steps to solidify its security relationship with the United States, a move that may be aimed at generating support — both political and material — for a shift toward more hard-line domestic crime-fighting policies. In a trip to the United States last week, Argentine Security Minister Patricia Bullrich met with several top US officials to discuss security issues.
The US has rejected a proposed merger between the Chicago Stock Exchange and a Chinese-linked investor group. The decision comes after more than two years of reviews by officials. The tie-up was initially approved by the Committee on Foreign Investment in the United States, pending further approval by the Securities and Exchange Commission (SEC).
Inflation pressures appear to be building in the U.S. economy, a prospect that is heightening anxiety about potentially higher borrowing rates that could slow economic growth. The latest source of concern was a report on Wednesday that showed a key measure of inflation rising in January by the sharpest rate in a year. The increase was led by higher prices for clothing, housing and auto insurance.