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Business

Govt Appoints Three Members to Interest-Rate Setting Panel

The government earlier this year amended the RBI Act for setting up the Monetary Policy Committee consisting of six members and headed by RBI Governor to fix the benchmark interest rates and inflation targets. His research focus now is in the areas of demand analysis and forecasting, social cost-benefit analysis, analysis of macroeconomic environment and policy, analysis of economic growth and productivity, worldwide trade related issues, fiscal policy and public debt.

Business

FBI Omits Mention Of ISIS Connections In Criminal Complaint Of NYC Bomber

A federal complaint released Tuesday night against the suspect in a series of bombings and attempted bombings in NY and New Jersey this weekend appears to highlight his radicalization. At the end of the notebook, he wrote, according to the complaint: "Inshallah [God willing] the sounds of the bombs will be heard in the streets". He also referenced pipe bombs and pressure cooker bombs, both of which were found in NY and New Jersey.

Business

United States claims win in dispute with European Union over aerospace subsidies

The ruling is part of a series of tit-for-tat transatlantic complaints about aircraft subsidies that together make up the world's largest trade dispute, still raging after 12 years of bitter arguments. But there are certain findings of the panel that we consider to be unsatisfactory. It still required the European Union to remedy the harm done to Boeing and to US aerospace manufacturing.

Business

Global stocks rise after Fed holds off interest rate hike

Still Ms. Yellen sounded like a reluctant bull and it was her tone of indecision more than anything else that prompted the market to run stops against the greenback this morning as Fed funds futures still only give a 50/50 chance of rate hike in December.

Business

Janet Yellen fires back at Trump: Fed is not political

The vote was 7-3, with three FOMC members wanting to raise rates. Citing a recent Citigroup report, Business Standard says that the Indian market's reaction to past Fed rate hikes has been mixed, with market returns being positive in most cases when the United States rate hike cycle began.

Business

When will the Labour leader be announced?

Voting in the contest closed on Wednesday, with the result to be announced at a special conference in Liverpool on Saturday. Ian Murray said the move could act as an "olive branch" to win over MPs who have been critical of the veteran left-winger, who looks nearly certain to be re-elected as Labour leader on Saturday.

Business

New violence breaks out in Charlotte

While city officials initially said that a civilian had been fatally shot, they later corrected their statement to say the victim was in critical condition on life support. The officer who shot him was placed on administrative leave in line with standard procedure. They also mentioned that the officers were quick to call for medical assistance and performed CPR on Scott themselves.

Business

Rodrigo Duterte to the European Union: 'F*** you'

He accused various European Union members, namely France and Great Britain, of being hypocrites for criticizing him given their own record of killing Arabs. President Rodrigo Duterte disclosed the offer in a speech in which he again lashed out at critics of his crackdown, including President Barack Obama and European countries.

Business

Market Republicans Turn on Mylan, Say EpiPen Went Too Far

MylanMYL 0.53 % NV CEO Heather Bresch plans to defend the rising price of EpiPens when testifying before Congress Wednesday, sticking to the company's effort to shift blame to health insurers and drug-benefit managers. Rep. Tammy Duckworth, D-Illinois, waved a contract that schools could sign to get access to discounted EpiPens, pointing out that a condition of getting the discount was a requirement that schools not buy competitors' products.

Business

Oil hovers around $45 as Opec plans formal meeting in Algiers

Another big driver for rising oil prices was American Petroleum Institute data showing a 7.5 million barrel decline in USA crude stockpiles to 507.2 million barrels. Crude oil prices rose on Monday from multi-week lows after Venezuela said OPEC and non-OPEC producers were close to a deal to stabilize the market and as clashes in Libya disrupted attempts to boost crude exports.

Business

Here Is Marion Cotillard's Full Statement On The Brangelina Split

While most of the nation - and Adele too - mourns the end of love as Angelina Jolie has filed for divorce from Brad Pitt, Chelsea Handler seems to reveling in it. Pitt has endlessly been accused of shaking up with Aniston , though the " Friends " star never confirmed the rumor. The Hello hitmaker was in the midst of her seven-night run at New York's Madison Square Garden, when it emerged Jolie had filed for divorce from Pitt, the father of her six children .

Business

Tesla Autopilot update seeks better safety

Currently, U.S. road safety regulators are investigating the software, which now has 200-plus additions, notes the BBC . Musk has said the updates will roll-out in the coming weeks, updates which he says will make the cars much safer . The radar will work no matter what weather or light conditions the vehicle may be in during its roll on the driveway, which can help decrease false auto alarms and alleviate speed, which is actually some of the most common reasons behind vehicle crashes ...

Business

Suspicious backpack explodes near USA train station

The two men alerted the Elizabeth Police Department after noticing that the backpack, near Hector's Place Restaurant, contained "wires and a pipe", The New York Times reported . There were no immediate reports of any injuries or damage. The New York Daily News reported that weapons were found in the auto and that one person of interest had been identified via surveillance footage.

Business

Holds rates, paves way for a December hike

Fed officials led by Chair Janet Yellen indicated a rate increase later this year is likely, although they lowered projections for 2017 and beyond. Officials want to wait for more evidence of progress on jobs and inflation - which remains low - before a hike.

Business

Federal Bureau of Investigation raids New Jersey town after suspicious devices found

Monday. Officials believe that these devices may not have been left for explosion; rather someone dropped the backpack in an attempt to get rid of it. Amtrak spokesman Craig Schulz said that service would resume "as soon as it is safe to do so". Bollwage said that he wasn't willing to say that Elizabeth had become a target, and that it was possible that someone anxious about the authorities was trying to get rid of the package.

Business

Target board approves new $5 billion buyback

The current Stock Price for Target Corp . NYSE:TGT is valued at 1.81 with a P/S value of 0.55. In case of Revenue Estimates, 17 analysts have provided their consensus Average Revenue Estimates for Target Corporation as 16.34 Billion. The insider owns 161,855 shares which have current market value of around $11106490.MULLIGAN JOHN J is another major inside shareholder in the company.

Business

Volkswagen emissions scandal: only 10 per cent of cars fixed

The German vehicle manufacturer admitted in September 2015 to installing so-called "defeat devices" in 11 million diesel cars that enabled them to pass emissions tests they would otherwise have failed. with up to $10,000 (£7,600) but not give anything to owners in the United Kingdom or Europe. The study published on Monday (19 September) by the NGO Transport & Environment (T&E) revealed that the Volkswagen scandal, which concerned 11 million vehicles worldwide, was just the tip of the ...

Business

US home sales fell in August as inventories plummet

NAR said the unexpected drop pulled existing home sales down to their second lowest pace of 2016, although sales are still up by 0.8 percent compared to 5.29 million in the same month previous year. This is a significant decline from the 47 day average a year-earlier. At August's sales pace, it would take 4.6 months to clear the stock of houses on the market.

Business

Rupee Ends At Two-Week High Of 66.66 Against Dollar

Asia's third-largest economy recorded a shortfall of $0.3 billion in its current account in the April-June quarter, as against the $6.1 billion deficit seen in the same period previous year, official data showed after the close of markets Wednesday.

Business

Rolls-Royce names Daily Mail's Stephen Daintith as new CFO

Daintith will replace David Smith, who joined Rolls-Royce in 2014 after leading Jaguar Land Rover and a long career at Ford. Daintith's appointment comes shortly after Rolls-Royce hired Simon Kirby, the boss of the UK's planned high-speed railway as its new chief operating officer, as part of the group's undergoing restructuring.

Business

EpiPen maker met with bipartisan outrage over 500% price hike

At the hearing, the panel's top Democrat, Maryland Rep. Elijah Cummings , demanded that Bresch apologize even as he predicted that nothing would change after the hearing, and called for legislation. That requires investment, Ms Bresch said. Committee chair Jason Chaffetz also noted that Mylan will now off a generic version of the device for hundreds of dollars less than the EpiPen.

Business

South Korea Training Will Include Mock Attack On Nuclear Facility

U.S. strategic bomber B-1B Lancer lands Wednesday on Osan Air Base at Pyeongtaek, Gyeonggi Province. USA bombers fly over South Korea for second time since North's nuclear test Less than two weeks ago. It announced a ground test of a long-range rocket engine Tuesday that could be used to launch a satellite into space. This most recent incident was the fourth nuclear test since 2009 and the second this year.

Business

Boeing receives U.S. license to sell jetliners to Iran, ending ban

Airbus's USA rival Boeing also has a tentative deal with Iran Air , which the airline and people familiar with the order said could be worth $25 billion. Treasury Dept. says licenses contain "strict conditions" to ensure planes are reserved for commercial passenger use. Iran's United Nations mission did not respond to a request for comment Wednesday.

Business

Father murders four children in Dearborn Heights

The bodies of two young children and two teenagers were found at a Dearborn Heights, Mich ., home early Wednesday, Sept. 21, 2016 after Green called 911 to report that he had killed them, police said. Police said she was able to speak with investigators. The man's wife filed for divorce in August, according to the Free Press . Gregory Green bound his wife, cut her face with a box cutter and shot her foot before shooting the two older children in front of her, authorities said.

Business

FOMC maintains rates but case for hiking strengthens

Exclusive discounts on ALM and ThinkAdvisor events. In a post-meeting statement, the Committee noted that the case for an increase in rates "has strengthened", but chose to "wait for further evidence of continued progress toward its objectives".

Business

Karnataka will defer release of Cauvery water to Tamil Nadu: CM Siddaramaiah

Karnataka's decision is a defiance in some ways of the Supreme court's order of September 20th which directed the state to release 6000 cusecs of water from September 21 to September 27th. The decision imposed till September 23. Water Resources Minister promised us to study the Supreme Court order and discuss it with officials. It has also made a decision to convene an emergency session of the State Assembly on Saturday to discuss the issue.

Business

CarMax, Inc (KMX) Stock Down on Q2 Earnings Miss

Wedbush increased their target price on CarMax from $44.00 to $55.00 and gave the company a "neutral" rating in a research note on Thursday, August 18th. During the same period previous year, the business posted $0.79 EPS. As formerly revealed, net earnings for last year's second quarter was raised by $6.4 million, net of tax, or $0.03 per diluted share, related to a change in timing of our recognition of reconditioning overhead costs.

Business

'Deplorable' airstrike on Syrian medical facility kills 5 staffers

As diplomats sparred at the Security Council, Russian Minister of Defense Sergei Shoigu said that Moscow was sending an aircraft cruiser to the Mediterranean to strengthen its capabilities there. The medical staff killed were working for the Union of Medical Care and Relief Organisations (UOSSM), it said. He said rebels had destroyed four tanks and inflicted heavy losses.

Business

Stalemate continues in Odisha Assembly

Some other BJD legislators too joined him. Commenting over the impasse at the Odisha Assembly, Leader of Opposition (LoP) Narasingha Mishra said, "It is clear that the Speaker being partial did not me allow to speak in the house". The BJD alleged that both the previous UPA government and the present NDA government had violated laws relating to construction of barrages across Mahanadi in Chhattisgarh and the Polavaram project in Andhra Pradesh.

Business

Mylan CEO takes the stand against House Oversight Committee critics

Members of a congressional oversight committee took turns Wednesday grilling the leader of the drug company responsible for the skyrocketing price of lifesaving EpiPens. "You need one in the vehicle and another in the backpack or whatever", he said. "I truly believe the story got ahead of the facts because of the complexity of the pharmaceutical industry", Bresch said during the hearing.

Business

Fed keeps rates steady, signals one hike by year-end

The US central bank's decision followed Bank of Japan's decision to maintained its 0.1% negative interest rate. Janet Yellen has a message for Donald Trump: Stop badmouthing the Federal Reserve. In the base metals, the most active Comex copper contract was at $2.1475 per pound, down 1.1 cents. The forecasts have changed in part because the Fed has reassessed its view of the economy's longer term outlook and formed the judgment that rates will need to be lower to keep growth on an even ...

Business

Ford to move all small auto production to Mexico

Ford updated its outlook Wednesday, Sept. 14, 2016, at its annual investor day. The auto manufacturer said it has increased spending on emerging opportunities and other costs - including electric vehicles and driverless cars. Chief Financial Officer Robert Shanks revealed that the company is expecting a decline in vehicle sales and productions. The Focus is said to be available with 300 different variations, but will eventually include just 30 different possible builds.

Business

Japan exports seen falling in August on weak foreign demand, firm yen

But Fed Chair Janet Yellen said in August the case for higher rates had strengthened, highlighting the possibility of a near-term hike. Singapore lost 0.4 per cent but Hong Kong's Hang Seng rose 0.6 per cent in thin trade. While some of this move has already been priced in as we can see from the graph, we expect more if the BOJ officially endorses this at their Sep 21-22 to signal to banks that they can lend more and longer.

Business

Wealthy Voters Abandon Republican Party for Hillary Clinton

Among Florida voters likely to participate in November's presidential election, 46% now support Clinton and 41% back Trump. For one thing, only 7 percent of likely voters in this year's presidential election are truly undecided at this point, according to a poll by Reuters and Ipsos.

Business

'F*** you EU!' Philippines president blasts Brussels over execution of criminals

The move raises questions about the future of a probe that has threatened to drain political support for Duterte's war on drugs, alongside criticism of his campaign from human rights groups and the United Nations. De Lima did not attend Tuesday's congress hearing and gave a speech at the senate defending the investigation. Matabato said he was part of a death squad to kill drug dealers on orders from Duterte when the president was mayor of the city of Davao between 1988 and 2013.


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