Top News & Analysis Washington DC

  • U.S. interest rates futures surged to their highest levels since last fall as evidence the virus was spreading further outside its original epicenter of China spurred a global sell-off in stocks and panicked buying of government bonds. Monday's stocks swoon followed a sharp increase in the number of cases reported in Italy, South Korea and Iran.

  • *Italy infections jump to 150, 6 dead. BEIJING/ SEOUL, Feb 24- With coronavirus cases rising in Italy and several Middle East countries dealing with their first infections, fears of a global pandemic sent markets into a tailspin, even as China eased curbs with no new cases reported Beijing and other cities. But China's actions, especially in Wuhan, had probably...

  • *China may have saved hundreds of thousands of cases-WHO. BEIJING/ SEOUL, Feb 24- Italy, South Korea and Iran reported sharp rises in coronavirus cases on Monday, but China eased curbs as the rate of infection there slowed and a visiting World Health Organization team said a turning point had been reached in the epicenter, Wuhan. But China's actions, especially in...

  • WASHINGTON, Feb 24- The U.S. Supreme Court on Monday refused to hear Apple Inc's bid to avoid paying about $440 million in damages for using patent licensing firm VirnetX Inc's internet security technology without permission in features such as FaceTime video calling. The case dates back to 2010 when Nevada- based VirnetX filed suit in federal court in the...

  • Treasury Secretary Steven Mnuchin told Reuters he does not expect the coronavirus outbreak to have a material impact on the Phase 1 U.S.- China trade deal, although that could change as more data becomes available in coming weeks. Fears of a coronavirus pandemic mounted even as they met in the Saudi capital of Riyadh, with sharp rises in new cases reported in...

  • President Donald Trump will be accorded the biggest public reception given to any foreign leader in years during his visit to India beginning on Monday, officials say, one that could help paper over the two countries' growing friction over trade. Close political and security partners, India and the United States have hit each other with retaliatory tariffs.

  • RIYADH, Feb 23- Finance officials from the world's 20 biggest economies on Sunday referenced climate change in their final communique for the first time in U.S. The United States blocked including climate change on a list of downside risks to global growth that had won agreement by nearly all other G20 delegates, but ultimately agreed to permit a reference to...

  • RIYADH, Feb 23- Failure to reach a global deal on where and how much to tax digital giants such as Google, Amazon or Facebook would result in many digital tax regimes emerging all over the world, France's Finance Minister said on Sunday. Treasury Secretary Steven Mnuchin told reporters, underscoring Washington's determination to thwart tax rules planned by...

  • RIYADH, Feb 23- Japanese finance minister Taro Aso criticised on Sunday a U.S. tax reform proposal that he said could undermine global efforts to agree new rules on taxing big tech companies. "I told my counterparts that Japan is very concerned about the' safe harbour' proposal," Aso told reporters after attending the G20 gathering. It is rare for Japan to openly...

  • RIYADH, Feb 23- Japanese finance minister Taro Aso criticized on Sunday a U.S. tax reform proposal that he said could undermine global efforts to agree new rules on taxing big tech companies. "I told my counterparts that Japan is very concerned about the' safe harbor' proposal," Aso told reporters after attending the G20 gathering. It is rare for Japan to openly...

  • RIYADH, Feb 23- Finance officials from the world's 20 biggest economies meeting in Riyadh on Sunday reached agreement on the wording of a final communique that includes a reference to climate change for the first time, G20 diplomatic sources said. Overcoming U.S. objections, the compromise language retained a reference to work by the Financial Stability Board...

  • Joe Biden, the former vice president, appeared headed to a badly needed second-place finish in Nevada after poor showings earlier this month in the first two nominating contests in the Democratic presidential race ahead of the Nov. 3 election. For Biden and other moderates who argue Sanders is too liberal to beat Trump and who have been trying to blunt his...

  • DUBAI, Feb 22- Anti-Western hardliners are set to sweep Iran's parliamentary elections and appear favourites to clinch the presidency next year, but an economic crisis could force them to engage with the United States despite their tightening grip on power. Tehran has ruled out any talks with Washington unless it lifts crippling sanctions reimposed on Iran...

  • *OECD estimates new tax revenue from digital at $100 bln a year. RIYADH, Feb 22- Leading world economies must show unity in dealing with aggressive "tax optimisation" by global digital giants like Google, Amazon and Facebook, G20 officials said on Saturday. Global rules are being developed by the Organisation for Economic Cooperation and Development to make...

  • RIYADH, Feb 22- Leading world economies must show unity in dealing with aggressive "tax optimisation" by global digital giants like Google, Amazon and Facebook, G20 officials said on Saturday. Global rules are being developed by the Organisation for Economic Cooperation and Development to make digital companies pay tax where they do business, rather than where...

  • Feb 21- Federal prosecutors investigating Boeing Co are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 MAX jet, the New York Times reported https://www.nytimes.com/2020/02/21/business/boeing-737-max-investigation. html, citing two people familiar with the...

  • President Donald Trump will be accorded the biggest public reception given to any foreign leader in years during his visit to India beginning on Monday, officials say, one that could help paper over the two countries' growing friction over trade. Close political and security partners, India and the United States have hit each other with retaliatory tariffs.

  • Wells Fargo will pay the penalties to the U.S. Justice Department and Securities and Exchange Commission and enter into a three-year deferred prosecution agreement during which the San Francisco- based bank will continue to cooperate with any ongoing government investigations, Justice Department officials said. Top managers within Wells Fargo's...

  • Feb 21- Federal prosecutors investigating Boeing Co are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 MAX jet, the New York Times reported https://www.nytimes.com/2020/02/21/business/boeing-737-max-investigation. html, citing two people familiar with the...

  • President Donald Trump's visit to India next week will not result in even a limited trade deal, saying they still have major concerns over India's trade barriers. U.S. concerns that led last year to the suspension of India's tariff free access for some $5.6 billion in exports under the 1970 s-era Generalized System of Preferences still remain, a senior Trump...