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Fed renews zero rate pledge, but hints at steeper rate hike path

Sun rises to the east of the U.S. Federal Reserve building in WashingtonBy Michael Flaherty and Howard Schneider WASHINGTON (Reuters) - The Federal Reserve on Wednesday renewed its pledge to keep interest rates near zero for a "considerable time," but also indicated it could raise borrowing costs faster than expected when it starts moving. Many economists and traders had expected the U.S. central bank to alter the rate guidance it has provided since March, given generally improving data on the economy's performance. But the Fed repeated its assurance that rates would stay ultra-low for a "considerable time" after a bond-buying stimulus program ends. ...

Wed, 17 Sep 2014 16:31:34 -0400
Dollar soars to six-year peak on yen after Fed, Tokyo stocks cheer

A pedestrian looks at an electronic board showing stock market indices outside a brokerage in TokyoBy Wayne Cole and Hideyuki Sano SYDNEY/TOKYO (Reuters) - Japanese shares jumped on Thursday after the dollar vaulted to a six-year peak on the yen as the Federal Reserve's outlook for rising rates underlined the diverging path between the United states and the rest of the rich world. In other regional share markets, the reception was mixed, with MSCI's index of ex-Japan Asian shares falling to 12-week lows, on the spectre of rising U.S. rates and slower economic growth in China. ...

Thu, 18 Sep 2014 02:30:11 -0400
Toshiba says to cut 900 jobs in PC restructuring

A visitor looks at a display of Japan's Toshiba company during the IFA Electronics show in BerlinTOKYO (Reuters) - Japan's Toshiba Corp said it would cut 900 jobs in a restructuring of its PC business that will include an exit from business-to-consumer operations in some regions. The Japanese electronics conglomerate expects the PC restructuring to cut operating profit by 45 billion yen ($414 million) but did not change its earnings forecast for the current year to March, as better-than-expected earnings in electricity and other operations offset the impact. ...

Thu, 18 Sep 2014 02:36:24 -0400
As growth stalls, G20 seeks closure on regulations

Australian PM Abbott delivers keynote speech during B20 Summit in SydneyBy Lincoln Feast and Ian Chua SYDNEY (Reuters) - G20 host Australia is leading a push to draw a line under the global financial crisis, urging the group of top economies to swiftly finalize regulations aimed at preventing a repeat of the crash and focus on measures to revive sputtering global growth. But the efforts of the Group of 20 finance ministers and central bankers, meeting this weekend in the tropical tourist town of Cairns, risk being drowned out by growing alarm over geopolitical tensions and increased market volatility. ...

Thu, 18 Sep 2014 01:36:39 -0400
Japan's frail business mood, exports show economy straining under tax hike

A security guard salutes at the entrance of the Bank of Japan building in TokyoBy Tetsushi Kajimoto and Stanley White TOKYO (Reuters) - Confidence at Japanese manufacturers fell the most in nearly two years in September as a tax increase hit the economy harder than expected, while exports slid in August in a further sign that conditions have deteriorated in the crucial third quarter. This frailty in the monthly Reuters Tankan business confidence, and the shaky outlook, could raise in coming months the pressure on the BOJ to ease policy further and complicate Prime Minister Shinzo Abe's decision on whether to raise the national sales tax again. ...

Thu, 18 Sep 2014 02:17:20 -0400
Suzuki Motor to recall 453,000 minivehicles in Japan

A man is seen through a compartment board with the logo of Suzuki Motor seen on it at the company's showroom in TokyoTOKYO (Reuters) - Suzuki Motor Corp on Thursday issued a recall of 453,225 minivehicles in Japan to fix a defect in the blower fan motor of the air-conditioning unit that has resulted in three fires so far. Subject to the recall are 407,878 Every microvans and 45,347 Mazda Scrum models manufactured between August 2005 and March 2010, according to a filing with the transport ministry. Suzuki makes the Scrum under an original equipment manufacturing (OEM) deal for Mazda Motor Corp . Minivehicles, which have an engine displacement of up to 660cc, are only sold in Japan. ...

Thu, 18 Sep 2014 01:43:33 -0400
U.S. inflation surprisingly weak, Fed keeps low rates pledge

Shoppers carry their purchases along Broadway in New York CityBy Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices fell for the first time in nearly 1-1/2 years in August and underlying inflation pressures were muted, which could lessen the urgency for the Federal Reserve to raise interest rates. The Labor Department said on Wednesday its Consumer Price Index dropped 0.2 percent last month as a broad decline in energy prices offset increases in food and shelter costs. It was the first decrease since April last year and followed a modest 0.1 percent gain in July. Economists had expected consumer prices would be flat in August. ...

Wed, 17 Sep 2014 16:11:42 -0400
Apple to unveil new iPads, operating system on Oct. 21 : report

The Apple logo hangs inside the glass entrance to the Apple Store on 5th Avenue in New York City,(Reuters) - Apple Inc is set to launch two new iPads and release the next version of its Mac operating system at its next event on Oct. 21, a Daily Dot report said, citing sources familiar with the matter. The company plans to unveil the sixth generation of its iPad and the third edition of the iPad mini, as well as its operating system OS X Yosemite, which has undergone a complete visual overhaul, the Internet news website said. Trudy Muller, a spokeswoman for Apple, declined to comment. The iPad is expected to have a 9.7 inch screen, while the new version of the iPad mini will have a 7. ...

Wed, 17 Sep 2014 14:36:59 -0400
ECB to dish out first round new ultra-long loans to boost lending

ECB headquarters are pictured prior to the bank's monthly news conference in FrankfurtBy Eva Taylor FRANKFURT (Reuters) - The European Central Bank will hand out the first round of its new four-year loans on Thursday, the flagship tool in a new stimulus package it hopes will stave off deflation and revive the ailing euro zone economy. The new targeted funds, or TLTROs, will be tied to lending to the mostly smaller firms that are the 18-country euro zone's economic backbone. Markets will be watching an announcement on the total amount of the loans allotted, due at around 4.15 a.m. ...

Wed, 17 Sep 2014 19:06:27 -0400
IMF warns of risks from 'excessive' financial market bets

The International Monetary Fund (IMF) logo is seen at the IMF headquarters building during the 2013 Spring Meeting of the International Monetary Fund and World Bank in WashingtonWASHINGTON (Reuters) - The global economy faces a growing risk from big financial market bets that could quickly unravel if investors get spooked by geopolitical tensions or a shift in U.S. interest rate policy, the International Monetary Fund said on Wednesday. The IMF, an institution based in Washington that is the world's premier watchdog for financial and economic stability, said in a report it still expects economic growth will pick up in the second half of 2014 after a rough start to the year. ...

Wed, 17 Sep 2014 16:03:46 -0400
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