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December 11, 2019

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Reuters - Business

Fed keeps rates on hold, points to ‘favorable’ economic outlook next year

Reuters
by Reuters01
WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs will not change anytime soon, with moderate economic growth and historically low unemployment expected to persist through the 2020 presidential election. Federal Reserve Chair Jerome Powell holds a news conference following the Federal...
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Reuters - Business

Fiat Chrysler’s UAW members ratify new four-year contract

Reuters
by Reuters01
DETROIT (Reuters) – The United Auto Workers (UAW) union said on Wednesday that rank-and-file members at Fiat Chrysler Automobiles NV (FCHA.MI) have voted in favor of a new four-year labor contract with the automaker, helping the Italian-American firm avoid a strike as it works to merge with France’s Groupe PSA...
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Reuters - Business

Fed keeps interest rates on hold amid ‘favorable’ economic outlook

Reuters
by Reuters03
WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs are likely to remain unchanged indefinitely, with moderate economic growth and low unemployment expected to continue through next year’s presidential election. Federal Reserve Chair Jerome Powell holds a news conference following the Federal...
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Reuters - Business

Fed keeps interest rates on hold amid ‘favorable’ outlook

Reuters
by Reuters01
WASHINGTON (Reuters) – The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs are likely to remain unchanged indefinitely, with moderate economic growth and low unemployment expected to continue through next year’s presidential election. Federal Reserve Chair Jerome Powell holds a news conference following the Federal...
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Reuters - Business

Massachusetts hand-dryer maker gets helping hand from U.S.-China trade war

Reuters
by Reuters09
EAST LONGMEADOW, Mass. (Reuters) – The U.S.-China trade war is creating something William Gagnon once thought impossible – a 100% American-made bathroom hand dryer. Excel Dryer vice president of marketing and key accounts, Bill Gagnon, works at the factory in East Longmeadow, Massachusetts, U.S., October 25, 2019. REUTERS/Tim Aeppel Gagnon’s...
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Reuters - Business

Mexican businesses focus on labor provisions as they pore over USMCA trade deal text

Reuters
by Reuters00
MEXICO CITY/WASHINGTON (Reuters) – Mexican business leaders on Wednesday began poring over texts of a new stricter trade deal with the United States and Canada, looking for details of how more intrusive enforcement of labor rules in Mexico would affect their operations. Moises Kalach, a leader of the CCE business...
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Reuters - Business

Meltdowns and touchdowns: How the U.S. scored a Canada-Mexico trade deal

Reuters
by Reuters04
WASHINGTON (Reuters) – Revising the U.S.-Mexico-Canada trade agreement took a year of acrimonious talks among Democrats, the chief U.S. negotiator and a labor union president – and may have set a world record for phones being slammed down in anger, according to one negotiator. U.S. Trade Representative Robert Lighthizer gestures...
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Reuters - Business

GM, doubling down on big SUVs, unveils longer Chevy Tahoe, Suburban

Reuters
by Reuters02
DETROIT (Reuters) – General Motors Co (GM.N) could expand the lineup of vehicles using its large truck and sport utility vehicle architecture and sees big opportunities in over-the-air software updates, President Mark Reuss told Reuters on Tuesday. FILE PHOTO: The GM logo is seen at the General Motors Lansing Grand...
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Reuters - Business

Factbox: Labor, environment, drugs top changes to North American trade deal

Reuters
by Reuters09
MEXICO CITY (Reuters) – Stronger worker and environmental protections top the changes to a new version of the North American trade deal signed by top U.S., Mexican and Canadian officials on Tuesday that clears the way for a long-delayed vote in the U.S. Congress. The full text of revisions has...
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Reuters - Business

U.S., Canada and Mexico sign agreement – again – to replace NAFTA

Reuters
by Reuters01
WASHINGTON/MEXICO CITY (Reuters) – Top officials from Canada, Mexico and the United States signed a fresh overhaul of a quarter-century-old trade pact on Tuesday that aims to improve enforcement of worker rights and hold down prices for biologic drugs by eliminating a patent provision. The signing ceremony in Mexico City...
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Reuters - Business

U.S. third-quarter labor cost growth cut; productivity soft

Reuters
by Reuters00
WASHINGTON (Reuters) – Growth of U.S. labor costs was not as robust as initially thought in the third quarter, suggesting inflation could remain tame in the near term. FILE PHOTO: Work crews construct a new hotel complex on oceanfront property in Encinitas, California, U.S., November 26, 2019. REUTERS/Mike Blake The...
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Reuters - Business

U.S., Canada and Mexico sign agreement – again – to replace NAFTA

Reuters
by Reuters00
WASHINGTON/MEXICO CITY (Reuters) – Top officials from Canada, Mexico and the United States signed a fresh overhaul of a quarter-century-old trade pact on Tuesday that aims to improve enforcement of worker rights and hold down prices for biologic drugs by eliminating a patent provision. The signing ceremony in Mexico City...
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Reuters - Business

Pelosi: revised USMCA pact much improved from initial Trump version

Reuters
by Reuters05
U.S. House Speaker Nancy Pelosi (D-CA) speaks during a news conference on the USMCA trade agreement on Capitol Hill in Washington, U.S., December 10, 2019. REUTERS/Yuri Gripas WASHINGTON (Reuters) – The revised United States Mexico Canada trade agreement reached between House Democrats and the White House improves U.S. President Donald...
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Reuters - Business

‘There’s a deal:’ Mexico says USMCA trade pact to be signed Tuesday

Reuters
by Reuters05
Mexico’s President Andres Manuel Lopez Obrador attends a news conference at the National Palace in Mexico City, Mexico December 10, 2019. REUTERS/Henry Romero MEXICO CITY (Reuters) – Canada, Mexico and the United States have reached an agreement on a new North American free trade deal and they will sign it...
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Reuters - Business

Choppy markets leave U.S. bank bonus decisions in limbo

Reuters
by Reuters03
NEW YORK (Reuters) – December is always a month of suspense on Wall Street, as dealmakers, traders and money managers at big U.S. banks wait to find out how much they will receive in bonuses. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in...
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Reuters - Business

Mexico asks Pelosi to act on trade deal, business groups wary

Reuters
by Reuters02
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Monday urged U.S. House Speaker Nancy Pelosi to decide on ratification of a North American trade pact, even as Mexican business groups fretted that proposed changes were weakening the deal. Mexico’s President Andres Manuel Lopez Obrador looks on during...
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Reuters - Business

Stocks whacked as China export decline highlights trade war damage

Reuters
by Reuters06
LONDON (Reuters) – Global equity markets were in a somber mood on Monday, holding well off recent two-year highs after Chinese export data highlighted the damage from the 17-month long trade war and re-focused attention on a crucial Dec. 15 tariff deadline. FILE PHOTO: A man is reflected on an...
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Reuters - Business

Jobs of the future are clustering in a handful of U.S. cities, study finds

Reuters
by Reuters05
WASHINGTON (Reuters) – A new analysis of where “innovation” jobs are being created in the United States paints a stark portrait of a divided economy where the industries seen as key to future growth cluster in a narrowing set of places. FILE PHOTO: Job seekers attend a large career fair...
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Reuters - Business

Mexico accepts U.S. steel demand in USMCA, with conditions

Reuters
by Reuters04
FILE PHOTO: Mexico’s Foreign Minister Marcelo Ebrard speaks during the daily news conference at National Palace in Mexico City, Mexico November 12, 2019. REUTERS/Carlos Jasso/File Photo MEXICO CITY (Reuters) – Mexican Foreign Minister Marcelo Ebrard said on Sunday that Mexico would accept a U.S. proposal regulating steel in the United...
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Reuters - Business

As Fed reiterates rate pause, forecasts likely to be blown off course

Reuters
by Reuters05
WASHINGTON (Reuters) – Friday’s booming U.S. jobs report should give the Federal Reserve all it needs to stick to its plan not to cut interest rates further in the near future, so when U.S. central bankers meet this week, most of the focus will be on their outlook for next...
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