02 September

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BOJ policymaker warns of growing risks to Japan’s economic recovery By Reuters

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By Leika Kihara TOKYO (Reuters) -Bank of Japan board member Goushi Kataoka said on Thursday the coronavirus pandemic may weigh on the economy longer than initially expected, warning of heightened risks to the central bank's forecast of a moderate, export-driven recovery. Kataoka also stressed the BOJ's readiness to ramp up stimulus if needed, reinforcing market expectations Japan will lag other countries in exiting crisis-mode policies. In another sign Japan's ultra-loose monetary policy will continue, Fumio Kishida - who is challenging Prime Minister Yoshihide Suga to become ruling party chief - said Japan must "not fall behind"...

02 September

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Trip.com ADR Earnings, Revenue miss in Q2 By Investing.com

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Trip.com ADR reported on Wednesday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations. Trip.com ADR announced earnings per share of 0.375 on revenue of 5.65B. Analysts polled by Investing.com anticipated EPS of 0.3804 on revenue of 5.74B. Trip.com ADR shares are down 6% from the beginning of the year and are trading at 31.69 , down-from-52-week-high.They are under-performing the Nasdaq which is up 18.79% from the start of the year. Trip.com ADR follows other major Services sector earnings this month Trip.com ADR's report follows an earnings...

02 September

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Mexico Remittances Break Record on Strong U.S. Growth By Bloomberg

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(Bloomberg) -- Remittances sent to Mexico hit a record $4.54 billion in July, driven by the U.S. fiscal stimulus and strong growth. The previous record was $4.53 billion in May. President Andres Manuel Lopez Obrador regularly hailed Mexicans in the U.S. as heroes for helping the country during last year’s economic crisis by sending money home. “Stronger growth in the US than in Mexico increases remittances to Mexico. And this is precisely what we have seen,” said Carlos Capistran, an economist at Bank of America Corp (NYSE:BAC). “We expect remittances to continue strong for the...

02 September

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Hard for central banks to extend QE to fund green policies, ex-policymaker says By Reuters

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By Divya Chowdhury MUMBAI (Reuters) - The era of monetary dominance is now passing, making it hard for central banks to extend their nearly decade-long "unlimited" easy money provisions to fund green policies, a former senior adviser to Bank of England Governor Mark Carney said. COVID-19 has re-established the "efficacy of fiscal policy," though policymakers are still debating over how much of that stimulus should be focused on supply-side measures versus demand-side, Huw Van Steenis told the Reuters Global Markets Forum (GMF) on Wednesday. "I suspect there is far more to do on the supply...

02 September

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VW reaches $42 million settlement with U.S. owners over Takata air bags By Reuters

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By David Shepardson WASHINGTON (Reuters) -Volkswagen's U.S. unit has agreed to a $42 million settlement covering 1.35 million vehicles that were equipped with potentially dangerous Takata air bag inflators, according to documents filed in U.S. District Court in Miami. The settlement is the latest by major automakers and much of the funding goes to boosting recall completion rates. To date, seven other major automakers have agreed to settlements worth about $1.5 billion covering tens of millions of vehicles. VW did not immediately comment. The defect, which leads in rare instances to air bag inflators rupturing and...

02 September

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Amazon’s new union battle: Teamsters go local to snarl expansion By Reuters

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By Julia Love SAN FRANCISCO (Reuters) - In June, the International Brotherhood of Teamsters, one of the nation’s largest and most influential unions, vowed to make organizing the Amazon.com Inc (NASDAQ:AMZN) workforce a top priority. Two months later, details of the Teamsters’ ground game are starting to take shape, Reuters has learned from interviews with local union leaders. While organizing workers is the ultimate aim, the short-term strategy is one of disruption. Over the past year, the Teamsters have raised concerns about Amazon at local government meetings in at least nine communities, leading to the...

02 September

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U.S. FAA probing Virgin Galactic July 11 flight deviation By Reuters

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WASHINGTON (Reuters) - The U.S. Federal Aviation Administration (FAA) said Wednesday it is investigating the deviation of the descent of the July 11 flight of the Virgin Galactic rocket plane that carried British billionaire Richard Branson. The New Yorker magazine earlier reported the FAA was investigating the Virgin Galactic ship's off-course descent. An FAA spokesman told Reuters the vehicle "deviated from its Air Traffic Control clearance as it returned to Spaceport America. The FAA investigation is ongoing." ...

02 September

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Judge will approve Purdue Pharma bankruptcy plan that shields Sacklers By Reuters

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By Tom Hals and Mike Spector (Reuters) - A U.S. judge said on Wednesday he would approve OxyContin maker Purdue Pharma LP’s bankruptcy reorganization plan, clearing a path to resolve thousands of opioid lawsuits and shielding the company's wealthy Sackler family owners from future opioid litigation. Bankruptcy Judge Robert Drain said that with small changes he would approve the plan, which overcame opposition to garner support from nearly all states, local governments, tribes, hospitals and other creditors that voted on the restructuring. They became creditors in the bankruptcy by virtue of suing Purdue and Sackler...

01 September

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Powell Gets Unlikely Boost With His Liberal Critics in Disarray By Bloomberg

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(Bloomberg) -- Liberal Democrats are publicly assailing Federal Reserve Chairman Jerome Powell’s record in an effort to persuade President Joe Biden not to give him a second term, but they aren’t yet lining up behind any one alternative to run the central bank. New York Representative Alexandria Ocasio-Cortez, Michigan Representative Rashida Tlaib and other vocal House progressives, as well as nearly two dozen liberal groups, wrote separate memos this week criticizing Powell’s Fed without endorsing a replacement. Their silence on an alternative only serves to bolster Powell’s chances of renomination because it gives him more...

01 September

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White House Begins Debt-Ceiling Push With Congress Briefings By Bloomberg

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(Bloomberg) -- The White House on Wednesday stepped up efforts to get Congress to raise the federal debt ceiling, holding a public-relations strategy meeting with Senate Democratic aides ahead of a similar session with House staff planned for Thursday. National Economic Council Deputy Director Bharat Ramamurti and Treasury counselor Ben Harris conveyed the message to Democrats that it’s the shared responsibility of Republicans to avoid a U.S. payment default -- reinforcing a narrative that Democrats have been reciting for weeks. The messaging push comes after 46 out of the 50 Senate Republicans wrote on Aug. 10...

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News

BOJ policymaker warns of growing risks to Japan’s economic recovery By Reuters

Trip.com ADR Earnings, Revenue miss in Q2 By Investing.com

Mexico Remittances Break Record on Strong U.S. Growth By Bloomberg

Hard for central banks to extend QE to fund green policies, ex-policymaker says By Reuters

VW reaches $42 million settlement with U.S. owners over Takata air bags By Reuters

Amazon’s new union battle: Teamsters go local to snarl expansion By Reuters

U.S. FAA probing Virgin Galactic July 11 flight deviation By Reuters

Judge will approve Purdue Pharma bankruptcy plan that shields Sacklers By Reuters

Powell Gets Unlikely Boost With His Liberal Critics in Disarray By Bloomberg

White House Begins Debt-Ceiling Push With Congress Briefings By Bloomberg

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