Reuters US Business

By Michael S. Derby, Ann Saphir and Howard Schneider (Reuters) -U.S. President Donald Trump on Monday took the unprecedented step of ordering Governor Lisa Cook removed from the Federal Reserve Board of Governors, saying questions about the mortgages on properties she owns that are the subject of a criminal probe by his administration are sufficient …

What’s known about the legal premise for Trump’s effort to fire Fed’s Cook Read More »

(Reuters) -Morgan Stanley has joined a growing bloc of global brokerages forecasting a September interest rate cut by the U.S. Federal Reserve, citing Chair Jerome Powell’s shift in tone toward labor market risks at the Jackson Hole symposium. In a note dated Monday, the brokerage said Powell’s tone marked a departure from his earlier emphasis …

Morgan Stanley joins global peers with September Fed rate cut outlook as Powell shifts tone Read More »

By Kanishka Singh WASHINGTON (Reuters) -U.S. President Donald Trump on Monday threatened countries that have digital taxes with “subsequent additional tariffs” on their goods if those nations do not remove such legislation. Sources said earlier that the Trump administration was considering imposing sanctions on European Union or member state officials responsible for implementing the bloc’s …

Trump threatens more tariffs for countries with digital taxes Read More »

By Stella Qiu SYDNEY (Reuters) -Australia’s central bank board judged further policy easing would likely be needed over the coming year when it cut rates this month, and the pace could be gradual or quicker depending on the flow of economic data. Minutes of its August 11-12 policy meeting showed the Reserve Bank of Australia …

Australia’s RBA signals more rate cuts ahead, pace undecided Read More »

By Sameer Manekar and Byron Kaye (Reuters) -Australian No.2 grocer Coles said on Tuesday recent interest rate cuts had set off “green shoots” of optimism among shoppers and driven up sales, sending the company’s shares on their biggest rally in five years. The outlook eclipsed an annual profit that beat analyst forecasts and signals a …

Australia’s Coles reports ‘green shoots’ in sentiment, shares surge Read More »

MELBOURNE (Reuters) -Australia’s Fortescue reported its smallest full-year profit in six years, in line with analyst estimates, on Tuesday and lowered its dividend payout while reaffirming its commitment to its green division after refocusing its growth strategy. The world’s fourth-largest iron ore miner logged its lowest profit and dividend since before the COVID-19 pandemic, in …

Australia’s Fortescue sticks to green iron in long term vision Read More »

SINGAPORE (Reuters) -U.S. President Donald Trump took the unprecedented action of firing Lisa Cook, the first African-American woman to serve as a Federal Reserve governor, over claims of mortgage borrowing impropriety. The U.S. dollar softened across the board after the news, while the short-end U.S. Treasury yields fell in Asian hours on Tuesday on wagers …

Analysts’ reaction to Trump firing Fed’s Cook Read More »

By Joey Roulette WASHINGTON (Reuters) -Elon Musk’s SpaceX postponed the 10th launch of its Starship rocket due to cloudy weather in Texas on Monday, another slight delay in its efforts to overcome development setbacks and achieve several long-sought milestones essential to the Mars rocket system’s reusable design. The 232-feet (71-metres) tall Super Heavy booster and …

Cloudy weather delays SpaceX Starship’s latest launch to overcome testing troubles Read More »