U.S. VP Pence urges Latin American nations to isolate N.Korea

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16 Aug by

U.S. VP Pence urges Latin American nations to isolate N.Korea

U.S. Vice President Mike Pence urged Brazil, Peru, Chile, and Mexico to break ties with North Korea on Wednesday, adding that "all options" are on the table with regards to the Asian state. "The U.S. places great importance on the ongoing diplomatic isolation of the Kim regime and we strongly urge Chile today, and we urge Brazil, Mexico, and Peru to break all diplomatic and commercial ties to North Korea," Pence said during a visit to Chile in a joint press conference with Chile's President Michelle Bachelet.


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16 Aug by

Gold firms as dollar dips after Fed minutes; palladium hits over 16-year high

Gold firms as dollar dips after Fed minutes; palladium hits over 16-year high

Gold rose about 1 percent on Wednesday, shaking off two days of losses, as the dollar edged lower after the release of the minutes from Federal Reserve's July meeting at which policymakers voted unanimously to keep U.S. interest rates unchanged. Fed policymakers appeared increasingly wary about recent weak inflation data and some called for a halt to further rate hikes until it was clear the trend was transitory, according to the minutes of the central bank's last policy meeting. Palladium (XPD=) jumped 3.4 percent to a high of $916, its highest since February 2001.


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16 Aug by

Trump’s business councils are disbanded after CEOs quit in protest

WASHINGTON/NEW YORK, Aug 16 (Reuters) - U.S. President Donald Trump announced the disbanding of two high-profile business advisory councils on Wednesday after corporate CEOs quit in protest over his remarks blaming violence in the Virginia city of Charlottesville not only on white nationalists but also on the protesters who opposed them. A parade of prominent Republicans and U.S. ally Britain also rebuked Trump after his comments on Tuesday about the weekend bloodshed further enveloped his seven-month-old presidency in controversy, paralyzed his policy aims and left him increasingly isolated. Trump announced the dissolution of the American Manufacturing Council and Strategic and Policy Forum after a series of chief executives including Campbell Soup Co's Denise Morrison and 3M Co's Inge Thulin abandoned the panels.


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16 Aug by

Fed policymakers grow more worried about weak inflation

Fed policymakers grow more worried about weak inflation

Federal Reserve policymakers appeared increasingly wary about recent weak inflation and some called for halting interest rate hikes until it was clear the trend was transitory, according to the minutes of the U.S. central bank's last policy meeting. The readout of the July 25-26 meeting, released on Wednesday, also indicated the Fed was poised to begin reducing its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities. The central bank's preferred inflation measure dropped to 1.5 percent in June from 1.8 percent in February and has remained below its 2 percent target for more than five years.


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