• The regulators, from the F.T.C. and Justice Department, offered few details about their inquiries into the tech industry, frustrating some lawmakers Link
    NYT Business 1449m
    Makan Delrahim, the top antitrust official at the Justice Department, testifying on Tuesday in Washington, along with Joe Simons, the chairman of the Federal Trade Commission.CreditCreditGabriella Demczuk for The New York Times
  • Fed tweaks interest on excess reserves and reverse repo rates Link
    Real Time Economics 1449m

    WASHINGTON—The Federal Reserve, faced with persistent upward pressure in short-term interest-rate markets, made a fourth technical adjustment Wednesday to a key rate it uses to influence the economy.

    The Fed lowered the interest on excess reserves rate, or IOER, more than it decreased its federal-funds target rate range. The change occurred at a meeting where officials lowered the fed-funds range for a second time this year, moving it down by a quarter percentage point to between 1.75% and 2%.

    ...
  • Trans Mountain Gains Ground in Canadian Appellate Court: Canada’s embattled Trans Mountain Pipeline expansion Tuesday won its second and third appellate court victories in five months against opponents in British Columbia (BC), marking a win for… Link #NatGas
    Shale Daily 1449m

    Canada’s embattled Trans Mountain Pipeline expansion Tuesday won its second and third appellate court victories in five months against opponents in British Columbia (BC), marking a win for Alberta oilsands exports.

    The BC Court of Appeal ruled against the Squamish Nation and City of Vancouver. Both protest lawsuits failed to overturn approval of the C$9 billion ($6.8 billion) project by the BC Environmental Assessment Office (BCEAO).

    The court ordered the BCEAO to review and, if necessary, adjust its 37 pipeline expansion conditions to match the 157 requirements in the second round of project approvals by the Canadian Energy Regulator and federal cabinet.

    The verdict said the BCEAO fulfilled the limited duty of provincial agencies to consult and accommodate indigenous communities affected by projects that fall under federal jurisdiction. Vancouver’s lawsuit was dismissed as a late afterthought to a public regulatory process that the city government...

  • RT @RosaRoubini: Our paper "Tension Between US and Iran Increases After The Attack On Saudi Arabia’s Oil Facilities" by @GiorgioCafiero is…
    Nouriel Roubini 1449m
  • Novartis halts distribution of its Zantac versions amid probe into impurities Link https://t.co/ZCzra9hKFP
    Reuters Top News 1449m

    (Reuters) - Novartis AG’s (NOVN.S) Sandoz unit said on Wednesday it was halting distribution of its versions of the drug commonly known as Zantac in all its markets, including the United States and Canada, after contaminants were found in the heartburn drug.

    The Swiss drugmaker’s steps follow an investigation by U.S. and European regulators into the presence of the impurity, N-nitrosodimethylamine (NDMA), in the drug, ranitidine, and a distribution halt in Canada announced late Tuesday.

    Health Canada said it had requested makers of the drug to stop distribution as it gathers more information and consults with international health regulators.

    Branded versions of the drug such as Sanofi SA’s (SASY.PA) Zantac are available for over-the-counter sale in Canada, while generic versions are available for sale both OTC and with prescription.

    A distribution halt is...

  • LIVE FED COVERAGE: For all the recent talk and market jitters about a potential recession, Fed Chairman Jerome Powell says in his opening statement that central-bank officials expect the economy to expand at a moderate rate. Link
    WSJ Central Banks 1449m

    The Federal Reserve cut its short-term benchmark interest rate today by a quarter point at the conclusion of its two-day meeting. What clues will the central bank offer about any more rate reductions? Our central banking, economics and markets teams bring you live news and analysis through the afternoon.

  • RT @BloombergTV: Jerome Powell weighs in on the money markets: "We will over time provide a sufficient amount of reserves so that frequent…
    Bloomberg 1449m
  • Trump says he’s got time to devise a “dastardly” response to an attack on Saudi Arabian oil facilities the U.S. has blamed on Iran Link
    Bloomberg 1449m
  • IMF Statistics Director Louis Marc Ducharme welcomes Saudi Arabia’s subscription to the Special Data Dissemination Standard ahead of the country’s G20 presidency Link
    IMF 1449m

    September 18, 2019

    Saudi Arabia subscribed today to the International Monetary Fund’s Special Data Dissemination Standard (SDDS), marking a major step forward for official statistics in the country. Subscription to the SDDS is expected to enhance the country’s availability of timely and comprehensive statistics and contribute to the pursuit of sound macroeconomic policies.

    Saudi Arabia is the first SDDS subscriber among the G20 SDDS countries to adopt the SDMX technology in the National Summary Data Page (NSDP)— a one-stop online data publication portal—facilitating dissemination in both human- and machine-readable (SDMX) formats.

    Mr. Louis Marc Ducharme, Chief Statistician and Data Officer, and Director of the Statistics Department of the IMF congratulated the authorities for this major milestone in the country’s statistical development. “The subscription to the SDDS underscores Saudi Arabia’s strong commitment to data transparency as well as to...

  • Exclusive: Italy cuts 2019, 2020 GDP growth forecasts - sources Link https://t.co/LRJuzPmV0E
    Reuters Business 1449m

    ROME (Reuters) - Italy’s new government expects the economy to expand by only about 0.4% next year after eking out 0.1% growth this year, three sources close to the matter told Reuters, underscoring the need for an expansionary 2020 budget.

  • Challenger bank Metro faces challenging questions about capital Link
    Finance News 1449m
  • Deutsche Bank stake lifts German fintech company to €1bn valuation Link
    Finance News 1449m
  • Powell Q&A: Asked about 'mid-cycle adjustment' says they see a favorable economic outlook Link
    ForexLive 1454m
    Notes that there are risks to a positive global outlook and says that if economy does turn down then deeper cuts would be appropriateWe're going to be highly data dependent and we're not on a pre-set courseWe're going to be looking carefully meeting by meetingPowell particularly monitoring global growth and trade developments, we see those risks as more heightened
  • EURUSD extends below its 200 hour moving average and 38.2% retracement Link
    ForexLive 1454m
    The EURUSD has moved to new session lows as Powell begins his press conference. The fall has now taken the price below its 200 hour moving average at 1.10415 as well as its 38.2% retracement at 1.10353.  Staying below those levels keeps the bears more in control.  Moving back above will muddy the waters for the bears.
  • Powell basically brushed off higher short-term rates.
    ForexLive 1454m
  • Powell: Rates are not on a pre-set course and that is certainly the case today
    ForexLive 1454m
  • #timestamp Link
    RANsquawk 1454m

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

  • Fed pumps more cash as key rate breaks above target Link https://t.co/Q5CuBaPzXD
    Reuters Top News 1454m

    NEW YORK (Reuters) - The Federal Reserve injected another $75 billion into a U.S. banking system on Wednesday, restoring a measure of order after a bout of extreme volatility inside the bank funding market drove the central bank’s benchmark interest rate above its targeted range for the first time since the financial crisis.

  • Central bankers divided over Wednesday’s decision and the outlook for further reductions Link
    WSJ Central Banks 1454m

    WASHINGTON—The Federal Reserve voted to cut interest rates by a quarter-percentage point for the second time in as many months to cushion the economy against a global slowdown amplified by the U.S.-China trade conflict.

    While the central bankers left the door open to additional cuts, they were split over Wednesday’s decision and the outlook for further reductions.

    Seven...

  • Ari Emanuel and Patrick Whitesell built their careers negotiating contracts for some of the world’s top celebrities. They’re about to ink one of their biggest deals yet -- this time for themselves Link
    Bloomberg 1454m
  • TransferWise says revenue grew by more than half in the latest fiscal year Link
    Bloomberg 1454m
  • POWELL: IF ECONOMY WEAKENS, MORE EXTENSIVE CUTS MAY BE NEEDED Trump tweets China tariffs hiked to 100% in 5... 4... 3....
    zerohedge 1454m
  • Powell Calls Cut ‘Insurance’ Against Downside Risks * * * Remember when the Fed hiked as "insurance" against upside risks?
    zerohedge 1454m
  • POWELL: WE WILL OVER TIME PROVIDE SUFFICIENT RESERVES SUPPLY The market wants to know just one thing: HOW
    zerohedge 1454m
  • *POWELL: FUNDING PRESSURES IN MONEY MARKETS ELEVATED THIS WEEK He has a way with words https://t.co/MYnogDZ4Xq
    zerohedge 1454m
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