France has a special responsibility as a euro zone heavyweight to take deficit cuts seriously, even though its budget deficit is above target, Bundesbank chief Jens Weidmann said in an interview published Sunday.» Read More
NEW YORK, May 21- French President Francois Hollande's predicament is, oddly enough, akin to one Alice faced in Lewis Carroll's 19th century classic. "The situation is much worse in France in the past year," Chaney told me from Paris, where AXA, Europe's No. 2 insurer, is based. " What the queen said to Alice applies to France. "
And a key negotiator for the European Union's Executive Commission, focus of anger from many other countries over its emissions trading scheme, said she hoped a road map towards a pact would be agreed by this autumn.
NEW YORK/ FRANKFURT, May 21- Two senior Federal Reserve officials on Tuesday played down the chances that the U.S. central bank would signal a readiness to reduce its bond buying at its meeting next month, dampening speculation the Fed's ultra-easy monetary policy might end soon. New York Federal Reserve Bank President William Dudley and St.
*Bernanke to testify before Congress on Wednesday. The euro rose 0.2 percent to $1.2906, having reached a session peak of $1.2933 and moving away from a six-week low of $1.2795 touched on Friday, according to Reuters data. Focus now shifts to Fed Chairman Ben Bernanke's testimony to Congress at 10 a.m. 1400 GMT) on Wednesday.
FRANKFURT/ NEW YORK, May 21- Two senior Federal Reserve officials on Tuesday played down chances that the U.S. central bank would signal a readiness to taper bond buying at its meeting next month, dampening speculation the Fed might soon dial back its ultra-easy policy. New York Federal Reserve Bank President William Dudley and St.
DETROIT-- Tesla Motors fell more than 5 percent in early trading Tuesday, a brief decline amid huge gains this month after the electric car maker posted its first quarterly profit. Tesla's stock price had jumped 74 percent between May 8, when first-quarter earnings were announced, and May 14, when it hit a 52- week high of $97.12.
Fed purchases $3.31 bln medium-term government debt. NEW YORK, May 21- U.S. Louis Fed President James Bullard took a more dovish tone than he has previously in a speech in Frankfurt, saying that the U.S. recovery has been disappointing and that he can not see a good case for tapering unless inflation increases.
*Gold's appeal hurt by fears the Fed will ease stimulus. (Recasts, updates prices, adds comments, adds byline, changes dateline NEW YORK/ LONDON, May 21- Gold trimmed its losses on Tuesday as the euro regained strength against the dollar, but the metal remained lower on weak chart signs and fears the U.S.
*EU says FTA with China would depend on concessions from Beijing. BRUSSELS, May 21- The European Union is willing to deepen trade ties with China but wants to see concessions from Beijing first, documents seen by Reuters on Tuesday showed.
POSITIVE SIGNS: Germany's central bank expects the country's economy to improve "markedly" in the second quarter. Germany grew only 0.1 percent in the first quarter in part because cold weather delayed the construction season. The European Central Bank expects a gradual recovery in the second half of the year.
*Follows Commission consultations with member states. BRUSSELS, May 21- The European Union wants to exempt state control of utilities and support for creative industries from free trade talks with the United States due to start next month, the latest draft of Brussels' negotiating mandate showed on Tuesday.
*Bernanke to testify before Congress on Wednesday. NEW YORK, May 21- The U.S. dollar fell against the euro on Tuesday after St. Comments from Fed officials were closely watched ahead of Chairman Ben Bernanke's testimony to Congress on Wednesday.
Apple tax head Phillip Bullock told the Senate Permanent Subcommittee on Investigations on Tuesday that one of those companies, Apple Operations International, though it was functionally managed in the United States, had not submitted a tax return anywhere for five years.
NEW YORK, May 21- U.S. Benchmark yields edged up, flirting with 2 percent, which was their highest level since mid-March, after Wall Street stocks touched new highs and nicked the appeal of low-yielding U.S. government debt. There is no reason to bid it before Bernanke, "said Eric Green, global head of rates and currency research and strategy at TD Securities in New York.
LONDON, May 21- The European Commission is asking oil traders across the continent to provide evidence of market abuse to determine whether companies sought to manipulate prices reported to leading price-setting agency Platts.
*Consumer costs up by 180 mln pounds 2007-2011- Competition Commission. LONDON/ FRANKFURT, May 21- Britain's dominant cement makers could be forced to sell off plants to tackle a lack of competition which regulators say has cost customers hundreds of millions of pounds.
Apple Operations International, Apple Sales International and Apple Operations Europe, through which much of the group's overseas income flows, are all incorporated in Ireland but are not deemed to be tax resident there, the Senate's Permanent Subcommittee on Investigations said.
*German wholesale power is cheaper than in France, Netherlands. LONDON/ FRANKFURT, May 21- German households are paying for ever cheaper wholesale power supplies to industry as the government uses money from soaring domestic bills to subsidise renewable energy, in turn creating overcapacity on the country's grid.
*Chicago, New York Fed presidents set to speak. Fed to buy $2.75 bln to $3.50 bln medium term bonds. "The market is just going very quiet before Bernanke and the FOMC minutes," said Lou Brien, market strategist at DRW Trading in Chicago.
A slowdown in British inflation sent sterling to a 7- week low on the view it could give the Bank of England more leeway to support the UK economy, and the yen lost ground after a Japanese minister rowed back on remarks suggesting the currency had weakened enough.