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  • China, 20 other countries initiate new Asian bank Friday, 24 Oct 2014 | 12:16 AM ET

    BEIJING— Twenty-one Asian nations signed on to a China- driven initiative Friday to create a new international bank for Asia that Washington opposes as an unnecessary and potentially damaging rival to established institutions such as the World Bank. The Asian Infrastructure Investment Bank reflects both China's desire to push investment in the region and...

  • Feds probe plane-helicopter crash in Maryland Friday, 24 Oct 2014 | 12:14 AM ET

    It said the FAA and National Transportation Safety Board are investigating the collision. State police identified the men who died as: Christopher D. Parsons, 29, of Westminster, Maryland; William Jenkins, 47, of Morrison, Colorado; and Breandan J. MacFawn, 35, of Cumberland, Maryland. A helicopter of the same make and model belonging to the same company crashed on...

  • SHANGHAI, Oct 24- Australia, Indonesia and South Korea skipped the launch of a China- backed Asian infrastructure bank on Friday as the United States said it had concerns about the new rival to Western-dominated multilateral lenders. China's proposed $50 billion Asian Infrastructure Investment Bank is seen as a challenge to the World Bank and Asian...

  • China, 21 other countries initiate new Asian bank Thursday, 23 Oct 2014 | 10:56 PM ET

    BEIJING— China and 21 other Asian nations have signed on to a new international bank for Asia opposed by Washington as an unnecessary rival to established institutions such as the World Bank. Representatives signed a memorandum of understanding Friday at the Great Hall of the People in the heart of Beijing to establish the Asian Infrastructure Investment...

  • DIARY - Top economic Events to Nov 5 Thursday, 23 Oct 2014 | 8:01 PM ET

    MILAN, Italy- ECB Executive Board member Peter Praet speaks at the International Banking Conference "Structural changes in the banking sector" organized by Bocconi University- 0820 GMT. FRANKFURT- Deutsche Bundesbank Board Member Andreas Dombret to give press conference at the Bundesbank in Frankfurt- 1200 GMT. LONDON- Bank of England Deputy Governor...

  • MEXICO CITY, Oct 23- Mexico's America Movil said on Thursday its third-quarter net profit fell 38 percent compared with a year earlier, missing expectations as taxes and exchange rate losses rose. The company, which is controlled by the family of billionaire Carlos Slim, said net profit in the July-September period fell to 10.12 billion pesos from 16.38 billion...

  • Rajaratnam brother barred for 5 years in SEC deal Thursday, 23 Oct 2014 | 6:11 PM ET

    The Securities and Exchange Commission announced the settlement Thursday with Rengan Rajaratnam. The SEC filed related civil charges against Rengan Rajaratnam in March 2013. The prosecutors had alleged that Rengan Rajaratnam joined his brother to cheat in the stock market in 2008 on the securities of two technology companies.

  • Figures on government spending and debt Thursday, 23 Oct 2014 | 4:35 PM ET

    WASHINGTON— Figures on government spending and debt.

  • Fed Governor Daniel Tarullo, who oversees bank regulation, invited CEOs from a group of banks with between roughly $50 billion and roughly $150 billion of assets, the sources said this week. Under the 2010 Dodd-Frank regulatory reform law, banks that have more than $50 billion of assets must show how they would fare in stressful situations before they can...

  • Report: Better shields needed for private tax data Thursday, 23 Oct 2014 | 1:15 PM ET

    Federal and state agencies operating health insurance exchanges— where consumers can shop for private coverage— should be required to get independent assessments of how well they protect tax information the IRS sends them, according to the report. The investigators said they watched IRS officials conduct security reviews of Connecticut's and...

  • GOP's Senate arm collects $10M in 2 weeks Thursday, 23 Oct 2014 | 12:05 PM ET

    WASHINGTON— Senate Republicans' campaign arm picked up $10.1 million during the first two weeks of October and has spent has spent roughly $35.5 million since Sept. 1, according to fundraising summaries released Thursday. The National Republican Senatorial Committee also said it had $10 million saved as of Oct. 15 for the final push toward Election Day on Nov. 4.

  • INSIGHT-Mario Draghi's German problem Thursday, 23 Oct 2014 | 11:01 AM ET

    *Berlin criticism of ECB course reaches new heights. BERLIN/ FRANKFURT/ PARIS, Oct 23- In early October, European Central Bank board member Benoit Coeure paid a discreet visit to the Chancellery in Berlin to express concerns about rising criticism of the bank from German politicians. The Frenchman, one of ECB President Mario Draghi's closest allies in Frankfurt,...

  • Gauge of US economy posts solid 0.8 percent gain Thursday, 23 Oct 2014 | 10:16 AM ET

    WASHINGTON— A gauge designed to predict the economy's future health posted a solid increase in September after no gain in the previous month. Economists expect that continuing strong gains in employment should boost incomes and help support solid economic growth in the United States in coming quarters despite a weaker outlook overseas.

  • Enticing low rates, but impact could be limited Thursday, 23 Oct 2014 | 10:07 AM ET

    WASHINGTON— With mortgage rates sliding for a fifth straight week, the possibility of locking in a rate below 4 percent is tempting for consumers and could unleash a wave of refinancing. This week the average rate on the 30- year loan fell to 3.92 percent, mortgage company Freddie Mac reported Thursday. Applications for "re-fi's" jumped 23 percent in the week ended...

  • *ECB bank test results due to be made public at 1100 GMT Sunday. LONDON/ FRANKFURT, Oct 23- The euro zone's 130 biggest banks received the European Central Bank's final verdict on their finances on Thursday after a review aimed at drawing a line under persistent doubts about the health of the region's banking sector. They will not be made public until 1100 GMT on...

  • US jobless aid applications rise to 283,000 Thursday, 23 Oct 2014 | 8:33 AM ET

    WASHINGTON— The number of people applying for U.S. unemployment benefits rose last week after falling to a 14- year low the previous week. Applications rose 17,000 last week to a seasonally adjusted 283,000, the Labor Department said Thursday. "More encouraging news on the U.S. job front," said Jennifer Lee, an economist at BMO Capital Markets.

  • SAN FRANCISCO, Oct 22- Shipments of Bakken crude oil from North Dakota to California by barge have quietly overtaken those by train for the first time, showing how the state's isolated refiners are using any means necessary to tap into the nation's shale oil boom. While tough permitting rules and growing resistance by environmentalists have slowed efforts to...

  • Ahead of the Bell: US Unemployment Benefits Thursday, 23 Oct 2014 | 6:13 AM ET

    WASHINGTON— The U.S. Labor Department reports on the number of people who applied for unemployment benefits last week. The report will be released Thursday at 8:30 a.m. Eastern. HEALTHY JOB GAINS: U.S. businesses have already been adding jobs at a healthy pace.

  • *ECB bank test results due at 1100 GMT Sunday. LONDON/ FRANKFURT, Oct 23- At around noon on Thursday, the euro zone's 130 biggest banks will receive the European Central Bank's final verdict on their finances after a review aimed at drawing a line under persistent doubts about the health of the region's banking sector. They will not be made public until 1100 GMT on...

  • Party committees spending $3M each day on House Thursday, 23 Oct 2014 | 5:02 AM ET

    WASHINGTON— The political parties' House campaign arms spent almost $51 million in the first two weeks of October— or an average of almost $3.4 million every day— according to campaign finance summaries released Thursday. The DCCC said it raised $8.8 million in early October and has $16 million on hand for the final three weeks before Election Day.