Fed keeps rate unchanged; calls US growth `moderate`

Last Updated: Thursday, June 18, 2015, 01:26

The Federal Reserve left its benchmark interest rate unchanged at near zero Wednesday, while describing US economic growth as "moderate" after the winter slowdown.

US court rules 2008 AIG takeover illegal but awards no damages

Last Updated: Tuesday, June 16, 2015, 01:16

A US court ruled Monday that the government`s takeover of insurer AIG was illegal, in a rebuke to the Federal Reserve and Treasury`s dramatic actions in 2008, which they argued saved the financial system.

Asian shares and euro slip as Greece fails to reach debt deal

Last Updated: Monday, June 15, 2015, 07:51

Asian shares fell and the euro skidded in Asian trade on Monday, after Greece`s talks with lenders to avert a default ended with no agreement and Wall Street logged losses ahead of a Federal Reserve meeting.

US keeps China, India on intellectual rights watch list

Last Updated: Friday, May 1, 2015, 03:32

The United States on Thursday kept China and India on its Priority Watch List of trading partners that fail to protect intellectual property rights (IPR), hurting the economy.

US, Japan make progress in trade talks but no deal seen yet: White House

Last Updated: Saturday, April 25, 2015, 06:11

US and Japanese negotiators have made "substantial progress" toward a deal on a major Pacific free-trade pact but President Barack Obama and Prime Minister Shinzo Abe are not expected to announce a final accord during Abe`s Washington visit next week, the White House said on Friday.

WTO members long way from finalising Doha round work programme

Last Updated: Saturday, April 25, 2015, 03:09

There has been a "sombre" progress by WTO members in finalising a work programme by July for the Doha round of talks and they are "a long way" from reaching an agreement on agriculture.

''Flash crash'' trader's ex-employer had no concerns about him

Last Updated: Saturday, April 25, 2015, 01:34

Futex, the trading firm that for five years employed the Briton accused of fraud and market manipulation by U.S. authorities related to the May 2010 `flash crash,` had no concerns about his trading during his tenure, the firm said in a statement Friday.

Barack Obama defends Pacific trade deal

Last Updated: Friday, April 24, 2015, 06:39

US President Barack Obama on Thursday faced down criticism from his own supporters over a looming Pacific trade deal, saying he had no intention of selling American workers out.

Spain rejects extraditing trader in `London Whale` case to US

Last Updated: Friday, April 24, 2015, 00:59

Spanish authorities have refused to extradite a former JPMorgan bank trader to the United States where he faces criminal charges in the massive "London Whale" fraud scandal.

Accused ''flash crash'' trader granted bail, fights extradition to US

Last Updated: Thursday, April 23, 2015, 02:14

A British trader accused by US authorities of market manipulation that contributed to the May 2010 Wall Street "flash crash" was granted bail by a London court on Wednesday, after saying he opposed extradition to the United States for a trial.

US, Japan in `grabbing distance` of pact on Asia trade deal

Last Updated: Tuesday, April 21, 2015, 05:40

The United States and Japan are within "grabbing distance" of resolving their differences on a much-awaited massive Pacific free-trade pact, the top US diplomat for Asia said Monday.

US, Japan narrow gaps substantially in trade talks: US trade representative

Last Updated: Tuesday, April 21, 2015, 02:11

The United States and Japan have made significant progress in trade talks over recent days, adding momentum to multilateral efforts towards a free-trade pact, U.S. Trade Representative Michael Froman said early on Tuesday.