Bank of America CEO Brian Moynihan is not worried about an economic slowdown, saying the U.S. consumer is still in a strong place.Banksread more
Target CEO Brian Cornell says he's encouraged by Trump's decision to postpone some consumer-oriented tariffs that were supposed to start Sept. 1.Retailread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
President Trump insists the economy is healthy and says the only thing holding U.S. growth back is the Federal Reserve.Marketsread more
Target shares opened at record high after the retailer beat second-quarter earnings expectations and boosted its full-year estimates.Retailread more
Gluskin Sheff's David Rosenberg predicts one of the strongest parts of the U.S. economy will disappoint Wall Street and lead to a market meltdown.Futures Nowread more
Sanders' sweeping proposal would make it easier for workers to join unions and end the so-called right-to-work laws recently favored by the GOP.2020 Electionsread more
Germany has sold a 30-year bond with a 0% interest rate for the first time on Wednesday.Marketsread more
Morgan Stanley warns that "the wheels for a slowdown are in motion," adding that a slowdown in the manufacturing sector is spreading.Marketsread more
Lowe's also tops rival Home Depot on same-store sales growth in the U.S.Retailread more
Target beats second-quarter earnings expectations thanks to an increase in traffic and sales. The retailer also boosts its full-year estimates.Retailread more
* Makhlouf first non-Irish national to lead the bank
* Ex-UK civil servant worked alongside Gordon Brown
* Dearth of women in senior ECB roles continues (Adds details, finance minister quotes)
DUBLIN, May 1 (Reuters) - Ireland appointed New Zealand treasury chief Gabriel Makhlouf as its new central bank governor on Wednesday, replacing Philip Lane who leaves next month to become the European Central Bank's chief economist.
A former senior civil servant in Britain, where he served as principal private secretary to then finance minister Gordon Brown and held leading roles with the UK tax authority, Makhlouf will take charge on Sept. 1, Ireland's finance ministry said.
In his new role he will also sit on the Governing Council of the ECB, the first time Ireland will have two rate-setters. A temporary governor will be named by Ireland's Central Bank Commission to cover the three-month period following Lane's departure for the ECB's executive board.
"I am delighted to nominate a person of Gabriel Makhlouf's international calibre," Finance Minister Paschal Donohoe said in a statement.
"Gabriel has demonstrated his broad and detailed knowledge, of economics, financial markets, monetary policy, and fiscal policy, and has the experience of leading a large and complex public service organisation of 10,000 people."
The son of United Nations diplomats, Makhlouf was born in Cairo of British and Greek parentage and has a degree in economics from Britain's University of Exeter.
He became head of the New Zealand treasury in 2011, where he has also been the government's chief economic and financial advisor. In New Zealand, he played a leading role in the government's public and private sector diversity and inclusion drive and was recently named an observer on the Reserve Bank of New Zealand's newly-formed Monetary Policy Committee.
Makhlouf, 58, becomes the first non-Irish national to lead the central bank after emerging from a shortlist that included one of Lane's two deputies, Sharon Donnery, who narrowly lost out in the race to head the ECB's supervisory arm last year.
Had Donnery been appointed, she would have become the first woman to lead the bank and helped address a lack of women at the top of the ECB for which the euro zone's central bank has been sharply criticised.
The ECB, which now has only one woman on its 25-member Governing Council, is undergoing major personnel changes this year, including the naming of a successor to President Mario Draghi and Lane's appointment as Chief Economist.
In Ireland, Makhlouf takes on an economy that has been the best performing in Europe since 2014. It is seen at risk of overheating if the recent pace of growth continues, but could face a different challenge if neighbouring Britain ends up leaving the European Union without a deal to smooth transition.
The central bank's supervisory capabilities will also be tested during his seven-year term after more than 100 financial services firms applied to the bank to set up or extend operations in Ireland as a result of Brexit. A homemade banking crisis drove Ireland to the brink of bankruptcy a decade ago. (Editing by Catherine Evans and Frances Kerry)