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  • WASHINGTON, May 27- The U.S. Consumer Product Safety Commission on Wednesday said Office Depot Inc has agreed to pay $3.4 million in fines over its failure to report defects in two models of office chairs. Office Depot received complaints that the chairs' seat backs failed, causing back injuries, the regulator said. The company neither admitted nor denied the...

  • FEDERAL AVIATION ADMINISTRATION SAYS STUDYING EMOTIONAL AND MENTAL HEALTH OF U.S.

  • Florida leads nation in number of new self-employed jobs Wednesday, 27 May 2015 | 11:12 AM ET

    ORLANDO, Fla.— Florida created more jobs with people working for themselves than any state in the nation, according to figures released Wednesday by the U.S. Census Bureau, but the reason may have more to do with underemployment than anything else. But given Florida's below-average ranking in earnings and weekly hours worked, the increase in self-employed jobs...

  • New federal rules on stream protection hailed, criticized Wednesday, 27 May 2015 | 10:02 AM ET

    The White House said the rules would provide much-needed clarity for landowners, but some Republicans and farm groups said they go much too far. The rules, issued by the Environmental Protection Agency and the U.S. Army Corps of Engineers, are designed to clarify which smaller waterways fall under federal protection after two Supreme Court rulings had left the...

  • Fed's Jeffrey Lacker: Let banks fail Wednesday, 27 May 2015 | 8:28 AM ET
    Jeffrey Lacker, president of the Federal Reserve Bank of Richmond.

    Policymakers must ensure that creditors must be willing to let firms fail in order to restore discipline, a top Fed official said.

  • Ben Bernanke: I see no extreme moves here Wednesday, 27 May 2015 | 8:08 AM ET
    Former US Federal Reserve Chairman Ben Bernanke asking a question/criticizing Indian Central Bank Governor Raghuram Rajan at a Brookings event on monetary policy. Many in the audience were surprised to find out Bernanke was there, when he was called upon for the first question. He's currently a Brookings Distinguished Fellow.

    The former Federal Reserve chair said there were no signs of extreme movements in the U.S. real estate and financial markets.

  • Asia stocks uneven as Greece deadline looms, Tokyo gains Wednesday, 27 May 2015 | 2:58 AM ET

    Investors remain focused on Greece's debt problems. MERGER APPROVAL: Tobacco companies Lorillard and Reynolds American rose after the Federal Trade Commission gave its tacit approval to the companies' $27.4 billion merger. Lorillard, maker of Newport cigarettes, was up 84 cents, or 1.1 percent, to $72.96.

  • *Signs of Greek woes spreading to Spain dent risk appetite. TOKYO, May 27- Asian stocks sagged and the dollar stood tall on Wednesday on growing prospects the Federal Reserve was on track to raise interest rates later this year and concerns that financial woes could engulf Spain in addition to Greece. Spreadbetters expected a modestly higher open for Britain's...

  • *Former Fed chief Bernanke says China slowdown necessary. SEOUL, May 27- Former Federal Reserve Chairman Ben Bernanke said that China's economic slowdown should not worry markets as there was no risk of a hard landing, and emphasised that a move to raise U.S. rates should be viewed as a positive sign for the world's largest economy. Bernanke, who participated in an...

  • DIARY- Top Economic Events to June 9 Wednesday, 27 May 2015 | 12:01 AM ET

    Treasury Secretary Jack Lew will participate in a moderated conversation at the London School of Economics and Political Science- 0945 GMT. LONDON- Bank of England's Sarah Breeden: CSFI Roundtable on Bank of England's Procyclicality Working Group SEOUL- Former Federal Reserve Chairman Ben Bernanke to attend a financial forum hosted by Dong-A Ilbo and...

  • MANILA, May 27- Gold held near a two-week trough on Wednesday after sliding almost 2 percent in the previous session as upbeat U.S. economic data strengthened expectation that the Federal Reserve may be on course to raise interest rates this year. Spot gold was little changed at $1,188 an ounce by 0307 GMT. It dropped to $1,185.35 on Tuesday, its weakest since May 12.

  • SEOUL, May 27- Former Federal Reserve Chairman Ben Bernanke said on Wednesday there were no signs of extreme movements in the U.S. real estate and financial markets, but criticised the U.S. Congress for failing to approve the IMF reform measures. Bernanke also said during an open interview at a private-sector forum in Seoul that if the Fed lifts interest rates, it...

  • TOKYO, May 27- Japan's Nikkei share average was marginally higher on Wednesday morning, extending its gains into a ninth day, but gains were limited as U.S. shares languished after upbeat U.S. data fed fears that a rate hike may come earlier than expected. The buoyant data follows Federal Reserve Chair Janet Yellen saying on Friday that the central bank could raise...

  • SINGAPORE, May 27- Gold held near a two-week trough early on Wednesday after sliding almost 2 percent in the previous session as strong U.S. data suggested the Federal Reserve may be on course to raise interest rates this year. *Spot gold was little changed at $1,188.20 an ounce by 0040 GMT. It dropped to $1,185.35 on Tuesday, its weakest since May 12.

  • *Signs of Greek woes spreading to Spain dent risk appetite. TOKYO, May 27- Asian stocks sagged and the dollar stood tall on Wednesday on growing prospects the Federal Reserve was on track to raise interest rates later this year and concerns that financial woes could engulf Spain in addition to Greece. Taking a lead from Wall Street's slide, MSCI's broadest index of...

  • BATON ROUGE, La., May 26- Policymakers must ensure that financial industry creditors do not expect government bailouts and must be willing to let firms fail in order to restore market discipline, a top Federal Reserve official said on Tuesday. The remarks by Jeffrey Lacker, president of the Richmond Federal Reserve Bank, repeated much of what he has previously...

  • WASHINGTON— It turns out that being the first woman to head the Federal Reserve is not the only tradition Janet Yellen is breaking. The Fed said Tuesday that she plans on skipping this year's gathering of the world's central bankers at Jackson Hole, Wyoming. The faithful attendance of Yellen's three predecessors— Paul Volcker, Alan Greenspan and Ben Bernanke—...

  • WASHINGTON, May 26- Reynolds American Inc won U.S. antitrust approval on Tuesday for its deal to buy smaller rival Lorillard in a deal that would combine the No. 2 and No. 3 U.S. cigarette companies. The Federal Trade Commission said it would allow the deal to go forward in condition that the companies sell four cigarette brands- Winston, Kool, Salem, and Maverick.

  • 160,000 folding knives recalled after accidental cuts Tuesday, 26 May 2015 | 4:32 PM ET

    NEW YORK— More than 160,000 folding knives made by hunting gear company Gerber are being recalled because the blade can unexpectedly unlock and cause cuts. The Consumer Product Safety Commission said it received six reports of injuries, two of which required stitches. The 7- inch Cohort Folding Knife was sold for about $30 at Bass Pro Shops, Cabela's, Home Depot...

  • TEL AVIV, May 26- When the Federal Reserve raises U.S. interest rates for the first time in nearly a decade, it should weigh the effects on global economies and can expect some bouts of financial market volatility, a top Fed official said on Tuesday. Federal Reserve Vice Chairman Stanley Fischer said in Israel. Fed Chair Janet Yellen last week signaled the U.S....