U.S. companies repatriate over half a trillion dollars in 2018, but pace slows

Chris IkosaJanuary 2, 2019

 U.S. companies have sent home over half a trillion dollars of cash they held overseas in 2018 to take advantage of tax changes, but data suggest the pace is slowing, potentially removing a key source of support for Wall Street. Dollar repatriation in the July-September period fell to $93 billion, around half of second-quarter volumes […]

ECB says trade protectionism Will crimp global growth next year

December 27, 2018

The European Central Bank expects the global economy to slow next year as rising protectionism curbs trade growth. While economic activity has remained resilient around the world, it has also become more uneven and signs of moderating momentum are increasingly evident, according to the ECB’s latest published on Thursday. Global trade growth has weakened and […]

Trump, Democrats spar over shutdown with no deal in sight

December 25, 2018

President Donald Trump and top Democrats in Congress sparred over the partial shutdown of the U.S. government on Monday, with no sign of tangible efforts to reopen agencies closed by a political impasse over Trump’s demand for border wall funds. Senate Democratic leader Chuck Schumer and his counterpart in the House of Representatives, Nancy Pelosi, […]

U.S. Regulators Tell Mnuchin Nothing Is Out of Ordinary in Markets

December 25, 2018

Top U.S. financial regulators assured Treasury Secretary Steven Mnuchin on Monday that markets are functioning normally, according to a person with knowledge of the discussion, despite a recent stock slump that many traders blame on turmoil emanating from the Trump administration. Mnuchin spoke with the regulators during a hastily convened call Monday to discuss market […]

Top Trump aide says government shutdown may go into New Year

December 25, 2018

U.S. President Donald Trump’s budget director and chief of staff on Sunday said the partial U.S. government shutdown could continue to Jan. 3, when the new Congress convenes and Democrats take over the House of Representatives. “It’s very possible this shutdown will go beyond (December) the 28th and into the new Congress,” Mick Mulvaney said […]

Trump blasts Fed again as ‘only problem’ in U.S. economy

December 25, 2018

President Donald Trump blasted the Federal Reserve on Monday, describing it as the “only problem” for the U.S. economy, as top officials discussed a rout in stock markets caused in part by the president’s feud with the central bank. Stocks fell again at the open on Monday amid concern about slowing economic growth, the government […]

Trump threatens ‘very long’ government shutdown

December 21, 2018

 U.S. President Donald Trump on Friday threatened a “very long” government shutdown just hours ahead of a midnight deadline, calling on the Senate to pass spending legislation with his $5 billion demand for border wall funding and seeking to shift blame for a holiday showdown to Democrats. U.S. Senate Majority Leader Mitch McConnell (R-KY) and […]

Williams says Fed policy views could change, listening to markets

Chris IkosaDecember 21, 2018

The Federal Reserve is open to reassessing its views and listening to market signals that the U.S. economy could fall short of expectations, but for now further rate hikes appear appropriate and it is not yet ready to reconsider its portfolio-trimming plan, an influential policymaker said on Friday. The Fed is “ready to re-assess and […]

Argentina’s central bank chief, Caputo, resigns amid currency crisis

Agency ReportSeptember 25, 2018

Caputo

The governor of Argentina’s central bank, Luis Caputo resigned on Tuesday for personal reasons, the bank said in a statement, a surprise announcement in the midst of the country’s talks with the IMF that sent the peso tumbling. Former finance minister Caputo has only held the role since June and is the second Argentine central […]