Rajan Argues for Independent Indian Central Bank in Final Speech
India must have a strong and independent central bank to ensure macroeconomic stability in the world’s fastest-growing major economy, Reserve Bank of India Governor Raghuram Rajan said a day before his term ends.“The central banks should be independent and should be able to say no to seemingly attractive proposals,” Rajan said in a speech in New Delhi on Saturday. “Multiple layers of scrutiny, especially by entities that do not have the technical understanding, will only hamper decision making...>> view originalDelta says it lost $100 million in revenue due to big outage
ATLANTA (AP) — Delta Air Lines Inc. said Friday that last month’s computer outage, which caused it to cancel 2,300 flights, cost $100 million in lost revenue. The airline also said that a key revenue per mile figure fell sharply in August, partly because of the outage. A fire and failure of a piece of equipment at Delta’s Atlanta headquarters on Aug. 8 caused a massive outage of the airline’s computer systems, temporarily grounding flights and leading to three days of heavy cancellations and de..>> view originalChina has ratified Paris climate agreement, state media says
China has ratified Paris climate agreement, state media says Posted September 03, 2016 14:14:46 China has ratified the Paris agreement on climate change, according to state media, a key move by the world's biggest polluter that brings the deal a major step closer to coming into force.The National People's Congress legislature voted to adopt "the proposal to review and ratify the Paris Agreement", the official Xinhua news agency said.The Paris pact calls for capping gl..>> view originalRow on tarmac an awkward G20 start for US, China
HANGZHOU, China A Chinese official confronted U.S. President Barack Obama's national security adviser on the tarmac on Saturday prompting the Secret Service to intervene, an unusual altercation as China implements strict controls ahead of a big summit.The stakes are high for China to pull off a trouble-free G20 summit of the world's top economies, its highest profile event of the year, as it looks to cement its global standing and avoid acrimony over a long list of tensions with Washington.Sho..>> view originalIreland Joins Forces With Apple to Combat the EU Tax Ruling
Ireland’s cabinet agreed on Friday to join Apple aapl in appealing against a multi-billion-euro back tax demand that the European Commission has slapped on the iPhone maker, despite misgivings among independents who back the fragile coalition. The Commission’s ruling this week that the U.S. tech giant must pay up to 13 billion euros ($14.5 billion) to Dublin has angered Washington, which accuses the EU of trying to grab tax revenue that should go to the U.S. government. With transatlanti..>> view originalBond Traders Split on September as Fed Rate Path Remains Unclear
Treasuries traders who were looking to Friday’s U.S. jobs data to settle the Federal Reserve’s path on interest rates came away just as uncertain as before.A lukewarm August payrolls report left Wall Street divided about whether policy makers will act when they meet Sept. 20-21. Strategists at Goldman Sachs Group Inc. and Barclays Plc said the report bolsters the case for a September hike, while Citigroup Inc. and Deutsche Bank AG said the data don’t support such a move. Futures traders showed ..>> view originalLabor Day gasoline prices the lowest in 12 years
Americans driving on Labor Day weekend will pay the lowest price for gasoline over the holiday in more than a decade. The average retail price of gasoline was $2.24 a gallon on Monday, the Energy information Administration reported on Friday. That’s the lowest price for a gallon of gas on the Monday before Labor Day since 2004, and $0.27 cheaper than gasoline this year, EIA said. According to travel group AAA, the average price of regular gasoline was $2.22 a gallon on Friday, or $0.22 less than..>> view originalSpaceX to shift Florida launches to new pad after explosion
By Irene Klotz | CAPE CANAVERAL, Fla. CAPE CANAVERAL, Fla. SpaceX said on Friday it would shift Florida flights to a nearly completed second site after damage to its launch pad on Thursday from the explosion of a rocket belonging to the space services company run by Elon Musk.The Federal Aviation Administration has sent seven people to Florida to supervise investigation of the disaster, said FAA spokesman Hank Price. The agency, which oversees U.S. commercial rocket launches, requires that S..>> view originalRetailers scramble as shipper bankruptcy puts goods in limbo
Retailers scramble as shipper bankruptcy puts goods in limbo Anne D'innocenzio and Robert Jablon, Associated Press September 2, 2016 Photo: Damian Dovarganes, STF South Korea's Hanjin Shipping Co. containers are seen in the Port of Long Beach, Calif., on Thursday, Sep 1, 2016. The bankruptcy of the Hanjin shi..>> view originalChinese regulators are reviewing Uber-Didi and Dreamworks-Comcast deals
Chinese government regulators have launched investigations into two closely watched takeovers: local ride-hailing giant Didi Chuxing’s acquisition of Uber China and Comcast Corp’s bid for DreamWorks Animation.Shen Danyang, a spokesman for the Ministry of Commerce, said Friday that the agency’s antitrust department has already met twice with Didi and "demanded that it explain the circumstances of the deal, why it hadn't reported [the deal], and to submit documents and materials pertaining to a l..>> view original
Saturday, September 10, 2016
Rajan Argues for Independent Indian Central Bank in Final Speech and other top stories.
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