Fed minutes say "most participants" saw the cut "as part of a recalibration" in response to changing conditions.The Fedread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
The president's remark followed a string of criticisms aimed at his predecessors, whom he claimed had ignored China's alleged malpractice on trade.Politicsread more
President Trump liked Germany's sale of no-interest, 30-year bonds Wednesday, but investors weren't so eager to buy them.Market Insiderread more
SunTrust Robinson Humphrey analysts said in a research note the "Off-Facebook Activity" feature "appears to fall somewhat short of the original pledge by CEO Zuckerberg of...Technologyread more
"If you look at the market over the past week, stocks don't need any help. They are roaring ahead, without the Fed doing anything," says the longtime market strategist.Marketsread more
Target CEO Brian Cornell still thinks the U.S. consumer is strong and spending. Target's latest quarterly results showed the big-box retailer is benefiting from that.Retailread more
Stocks rose on Wednesday as strong quarterly results from retailers such as Target and Lowe's lifted investor sentiment.US 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
GOP donor John Childs has given over $330,000 to Republican fundraising committees since being charged with soliciting prostituion.Politicsread more
* BlackRock's move flags worries about political risk
* Withdrawal could force state into fourth big bank bailout
* Economy minister says confident of market solution
* ECB has set mid-May deadline for bids for Carige (Releads, adds comments from Economy Minister Tria)
MILAN, May 9 (Reuters) - Rome's fragile government battled to avoid another costly bank bailout on Thursday after U.S. fund manager BlackRock ditched a proposed rescue of Italy's Carige.
BlackRock and Carige gave no reason for the decision, which highlights investor concerns about Italy's uncertain political environment as time runs out for the troubled bank.
Economy Minister Giovanni Tria said he was confident a market solution could still be found, telling reporters in Rome that the bank's commissioners were seeking an alternative investor and that the work done so far would not be wasted.
Political infighting and the fact it was unable to keep its stake below 25 percent were among the factors that persuaded BlackRock to back out, a source familiar with the matter said.
Under the plan, based on a 720 million euro ($806 million) capital injection, Italian banks were set to take up some of Carige's shares by converting a bond into equity. But without more investors, BlackRock's stake would have exceeded a quarter.
The rescue aimed to help the state avoid its fourth major bank bailout in two years. The government has earmarked up to 1 billion euros to buy Carige shares if it cannot find investors.
A state bail-out would potentially embarrass the ruling parties, the right-wing League and the anti-establishment 5-Star Movement, which both attacked previous governments over the use of public funds to save ailing banks.
Carige, which has been put under special administration by the European Central Bank, said it was looking at other market solutions to its capital shortfall after BlackRock's move but said it could also seek government financial aid.
"We will evaluate other market solutions aimed at ensuring the stability and turnaround of Banca Carige," it said in a statement, adding it could still make a "request for a precautionary recapitalisation to the economy ministry."
The ECB, which sources have said has set a mid-May deadline for investors to submit binding bids for Carige, said on Thursday it had been informed of developments and was in contact with Carige's temporary administrators.
Carige has been laid low by years of mismanagement and an excessive exposure to the depressed economy of Italy's northwestern Liguria region.
Italian bond yields have risen in recent days on concerns over tension within Rome's ruling coalition, with the gap between its benchmark bond yields and safer German Bunds increasing on Wednesday to the widest in more than two months.
In another sign of jitters about political risk and a weak economy, Italy's biggest bank by assets UniCredit said this week it would reduce government bond holdings.
But UniCredit Chief Executive Jean Pierre Mustier said on Thursday the bank remained strongly committed to the euro zone's third largest economy. ($1 = 0.8933 euros) (Additional reporting by Andrea Mandala and Gavin Jones Editing by Silvia Aloisi, Mark Bendeich, Edmund Blair and Alexander Smith)