Former Fed Chair Paul Volcker takes Trump to task on taxes, trade

“We have not been on a constructive track,â€� Volcker told Bridgewater co-chief investment officer Ray Dalio, in a podcast video released on Tuesday. “I think that’s fair to say.â€� Volcker, widely credited with ending the high levels of inflation seen in the United States during the 1970s and early 1980s, said Trump’s big tax cuts and spending increases underscore the lack of transparency of the president’s administration. Whatever you think about that tax bill, it shouldn’t have been rammed through Congress without any debates at midnight on Dec. 31,â€� Volcker said.

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Former Fed Chair Paul Volcker takes Trump to task on taxes, trade

The Global Iron Ore Crisis: What's Next in Four Charts

Since the initial incident in Brazil in late January, the top producer has announced supply cuts of as much as 70 million tons, although it’s said it will try to offset some lost production. The mainland has a very substantial ore-mining industry, but production has been hurt in recent years as the content is lower-grade and higher-cost than foreign supplies, and Chinese producers have been the target of a strict environmental clampdown.

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The Global Iron Ore Crisis: What's Next in Four Charts

Aon to sell benefits outsourcing to Blackstone for $4.3 billion

Aon could get up to $500 million more based on future performance, as part of the deal. London-headquartered Aon said it expected the deal to improve its return on invested capital and add to adjusted earnings per share in 2018. Proceeds from the deal after tax are expected to be about $3 billion, subject to customary working capital and other adjustments, Aon said.

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Aon to sell benefits outsourcing to Blackstone for $4.3 billion

Trump tax cut talk, Chinese data spur risk rally

By Vikram Subhedar LONDON (Reuters) – European shares rose to within striking distance of their highest levels in more than a year on Friday while the dollar was buoyant as investors cheered upbeat Chinese trade data and hopes of business-friendly tax cuts in the United States. President Donald Trump said on Thursday that in coming weeks he would announce something “phenomenal” in terms of tax although he offered no further details. Renewed speculation that Trump's economic policies will help boost economic growth and inflation pushed U.S. Treasury yields higher and lifted the dollar.

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Trump tax cut talk, Chinese data spur risk rally

Goldman hedge fund folding London operations, shifting staff to U.S.: sources

By Maiya Keidan and Olivia Oran NEW YORK/LONDON (Reuters) – Goldman Sachs Investment Partners (GSIP), which opened in 2008 with one of the biggest launches in hedge fund history, is folding its London operations into the United States and shifting staff members to New York, four sources told Reuters. About eight staff members who made up the London team were recently told to move to the Battery Park City headquarters of Goldman Sach Group Inc in lower Manhattan or find a new job internally, the sources said.

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Goldman hedge fund folding London operations, shifting staff to U.S.: sources

First big German customer sues Volkswagen in diesel affair

Fish distributor Deutsche See is suing Volkswagen for misrepresenting a fleet of vehicles it leased as environmentally friendly, becoming the first major German customer to sue Europe's biggest carmaker over its diesel-test cheating. Volkswagen already faces numerous lawsuits from individual owners, regulators, states and dealers, many of them in the form of class-action cases in the United States. Bremerhaven-based Deutsche See, which leases about 500 vehicles from Volkswagen, said it had been unable to reach an out-of-court settlement.

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First big German customer sues Volkswagen in diesel affair

Barclays to overhaul back office operations to cope with ring-fencing

By Lawrence White LONDON (Reuters) – Barclays Plc is about to overhaul its back office operations under a restructuring to help it comply with new post-crisis rules forcing British banks to ring-fence their retail operations from their riskier business. It has formed a new company that will operate as a standalone unit providing support services to both of its two main operations when they are formally separated – retail and investment banking, the bank said. The ring-fencing rules seek to avoid a repeat of the 2008 crisis, when banks' bad bets threatened depositors' cash.

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Barclays to overhaul back office operations to cope with ring-fencing

Google, unlike Microsoft, must turn over foreign emails: U.S. judge

A U.S. judge has ordered Google to comply with search warrants seeking customer emails stored outside the United States, diverging from a federal appeals court that reached the opposite conclusion in a similar case involving Microsoft Corp . U.S. Magistrate Judge Thomas Rueter in Philadelphia ruled on Friday that transferring emails from a foreign server so FBI agents could review them locally as part of a domestic fraud probe did not qualify as a seizure. “Though the retrieval of the electronic data by Google from its multiple data centers abroad has the potential for an invasion of privacy, the actual infringement of privacy occurs at the time of disclosure in the United States,” Rueter wrote.

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Google, unlike Microsoft, must turn over foreign emails: U.S. judge

U.S. tech leaders sound alarm over Trump immigration ban

The U.S. technology industry, a major employer of foreign workers, hit back on Saturday at President Donald Trump's sudden executive order on immigration, with some leaders calling it immoral and un-American. Trump's order temporarily bars citizens of seven majority-Muslim countries from entering the United States even if they hold valid visas or permanent residence permits, a move that caught many companies off-guard. Apple Inc CEO Tim Cook sent a letter to employees saying Trump's order was “not a policy we support” and promised to help affected employees.

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U.S. tech leaders sound alarm over Trump immigration ban