The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus and to clearly tie an eventual interest-rate rise to improving economic conditions, a top Fed policymaker told Reuters.
Legal & Regulatory
Michigan becomes fifth U.S. state to thwart direct Tesla car sales
Michigan Governor Rick Snyder signed a bill on Tuesday that will keep electric carmaker Tesla Motors Inc (TSLA.O) from selling its cars directly to consumers in the state, home to the biggest U.S. automakers.
U.S. to scrap trade deal on Russian steel duties
The U.S. Department of Commerce will terminate a 15-year-old deal sheltering Russian flat-rolled steel producers from high import duties, it said in a letter to Russian authorities.
Lufthansa pilots threaten more strikes as long haul hit
Lufthansa pilots threatened to call further strikes this week after the latest stoppage in a dispute over retirement benefits grounded two-thirds of its flights on Tuesday.
As China gets tougher on fuel economy, some carmakers may be left behind
Chinese automakers from state-owned FAW Co to Zhejiang Geely are racing to sell more eco-friendly cars as they try to meet tough fuel economy rules due next year as part of Beijing's battle against pollution.
Latest News
Banks who submit quotes for compiling Libor interest rates will have to follow a manual of instructions to avoid a repeat of the rigging seen in the past, the benchmark's new administrator said on Monday.
Spanish builder and services company FCC (FCC.MC) said on Sunday its board had approved a well-flagged capital increase of 1 billion euros ($1.3 billion) which it will use to pay down debt.
Standard Chartered (STAN.L) has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators to cut its risks following an anti-money laundering settlement.
When Europe announced its latest health check of top banks early last year it promised a "comprehensive assessment" of how well prepared they were to withstand another financial crisis.
German airline Lufthansa (LHAG.DE) canceled 1,450 flights after a pilots union called for a strike on Monday and Tuesday, adding to travelers' misery after millions were left stranded by a weekend-long train drivers' stoppage.
China is set to unveil key legal reforms this week that will try to limit the influence local officials have on court cases, a move being closely watched by company executives who hope it will make the legal system more impartial.
Energy Future Holdings squared off against creditors in court on Friday as the bankrupt Texas power company sought approval to begin a multibillion dollar auction of its interest in Oncor, a power transmission business.
China said on Thursday it would punish carmakers by restricting their production and publicly naming them if they fail to meet fuel consumption requirements on passenger vehicles set for 2015.
Food distributor Sysco Corp (SYY.N), fighting to complete a merger with US Foods Inc [USFOO.UL], is attempting to craft a package of potential asset sales weighty enough to convince U.S. antitrust regulators to approve the deal.
