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Strong U.S. growth, weak inflation leave Fed stuck happily on hold

WASHINGTON (Reuters) – The Federal Reserve is expected to hold interest rates steady at its policy meeting this week as policymakers balance recent stronger-than-expected U.S. economic growth against sluggish inflation. Officials have given no signal in recent weeks of any change to the U.S. central bank’s benchmark overnight lending rate, currently set…

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Trump sues Deutsche Bank and Capital One to block House subpoenas

(Reuters) – U.S. President Donald Trump, three of his children and one of his companies filed a federal lawsuit Monday against Deutsche Bank and Capital One Financial Corp to block the banks from complying with federal subpoenas investigating his financial dealings. FILE PHOTO: The Deutsche Bank headquarters are pictured in Frankfurt, Germany,…

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Asian shares fall as China manufacturing data disappoints

SHANGHAI (Reuters) – Shares in Asia fell on Tuesday as readings on China’s manufacturing activity failed to meet expectations, underscoring weakness in the world’s second-largest economy despite Beijing’s attempts to spur growth. FILE PHOTO: An investor looks at an electronic board showing stock information at a brokerage house in Shanghai, China July…

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Why Airbus isn’t pouncing on Boeing’s 737 MAX turmoil

PARIS (Reuters) – When Boeing launched its 737 MAX jetliner in response to Airbus’s record-selling A320neo, a wave of poker-faced satisfaction spread through Airbus headquarters in France. FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau Its reasons for cheering Boeing’s…

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U.S. opens criminal probe into Ford emissions certification

WASHINGTON (Reuters) – The U.S. Justice Department has opened a criminal investigation into Ford Motor Co’s emissions certification process in the United States, the automaker disclosed on Friday, saying it was cooperating fully with the probe and still conducting its own internal review. Ford said in a statement the Justice Department had…

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DBS posts record quarterly profit, powered by lending income

SINGAPORE (Reuters) – DBS Group Holdings Ltd, Southeast Asia’s biggest lender, beat market estimates on Monday to post a record quarterly profit, as strong net interest income offset weakness in wealth management, brokerage and investment banking fees. FILE PHOTO: A DBS bank signage is pictured in Singapore September 5, 2017. REUTERS/Edgar Su/File…

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Asian shares up, sentiment still fragile after U.S. GDP

SHANGHAI (Reuters) – Asian shares rebounded on Monday after strong U.S. first-quarter economic growth boosted the S&P 500 index to a record high, and the recovery was also supported by data showing profits at Chinese industrial firms grew for the first time in four months. FILE PHOTO: An investor looks at an…

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RBS begins global hunt for CEO to replace McEwan

LONDON/EDINBURGH (Reuters) – Royal Bank of Scotland is searching for a new chief executive after Ross McEwan resigned, signaling a fresh start as it heads for full private ownership after a state bailout. New Zealand-born McEwan, who has led RBS since October 2013, has a 12-month notice period and will remain in…

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