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WTO talks stuck again as ministers prepare to meet, Azevedo says

November 26, 2015 By

By Tom Miles GENEVA (Reuters) – World trade talks are deadlocked and ministers are unlikely to find a way out of the impasse when they meet in Nairobi next month, World Trade Organization Director-General Roberto Azevedo said on Thursday. “We clearly are stuck in the negotiations at this point in time,” Azevedo told a news conference. Since then the WTO has still managed to agree a few changes to the global trading rules.

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WTO talks stuck again as ministers prepare to meet, Azevedo says

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White House threatens veto of rule-based monetary policy bill

November 17, 2015 By

By Jason Lange WASHINGTON (Reuters) – The White House on Tuesday issued a veto threat for a Republican-backed bill to make the Federal Reserve set interest rate policy using a mathematical rule, a proposal Fed Chair Janet Yellen said would “severely damage” the U.S. economy. The Obama administration opposes the proposal because it would hinder the Fed's ability to help the economy, the White House said in a statement. Lawmakers in the U.S. House of Representatives cleared the way on Tuesday for vote on the bill, called the Fed Oversight Reform and Modernization Act, as soon as Wednesday.

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White House threatens veto of rule-based monetary policy bill

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Weak retail sales suggest moderate fourth-quarter economic growth

November 13, 2015 By

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales rose less than expected in October amid a surprise decline in automobile purchases, suggesting a slowdown in consumer spending that could temper expectations of a strong pickup in fourth-quarter economic growth. “The weak reports will provide some cause for caution at the Fed, and while they are unlikely to change the prevailing bias for a December 'liftoff,' they could add to the case for a shallower tightening path thereafter,” said Millan Mulraine, deputy chief economist at TD Securities in New York The Commerce Department said retail sales edged up 0.1 percent last month after being unchanged in both September and August. A 0.9 percent drop in the value of sales at service stations, which reflected lower gasoline prices, also helped to restrain retail sales last month.

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Weak retail sales suggest moderate fourth-quarter economic growth

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