Powell says Fed insulated from politics, wrestling with rate cuts
NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," and that its policymakers are wrestling with whether to cut interest rates as President Donald Trump has demanded.
Wall Street drops on trade worries, Fed Chair Powell's speech
NEW YORK (Reuters) - Wall Street lost ground on Tuesday as simmering trade concerns, combined with disappointing economic data, sent buyers to the sidelines, where they remained after Federal Reserve Chair Jerome Powell pushed back on pressure from President Donald Trump to cut rates.
U.S. consumer confidence dives, trade tensions hurting economy
WASHINGTON (Reuters) - U.S. consumer confidence tumbled to a 21-month low in June as households grew a bit more pessimistic about business and labor market conditions amid concerns about a recent escalation in trade tensions between the United States and China.
What is a Beyond Meat burger worth to hungry investors?
SAN FRANCISCO (Reuters) - U.S. consumers hankering for one of Beyond Meat Inc's faux-meat burgers can pick one up at the grocery store for about $3 a patty.
PG&E bondholders propose bankruptcy exit plan worth up to $30 bln
SAN FRANCISCO (Reuters) - A committee of bondholders of PG&E Corp's utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion to help the California power provider emerge from Chapter 11 and pay off its liability from wildfires.
Tesla likely to miss record second-quarter delivery target: Electrek
(Reuters) - Shares of Tesla Inc fell 1.3% on Tuesday after news website Electrek reported that the electric-car maker has so far delivered 49,000 vehicles in North America during the second quarter and may miss its quarterly target.
U.S. hopes to re-launch China trade talks, won't accept conditions on tariffs: official
WASHINGTON (Reuters) - The United States hopes to re-launch trade talks with China after President Donald Trump and President Xi Jinping meet in Japan on Saturday but Washington will not accept any conditions on tariffs, a senior administration official said on Tuesday.
Fed to hold Facebook's crypto coin to 'high' bar: Powell
(Reuters) - The U.S. Federal Reserve is looking carefully at Facebook's planned cryptocurrency Libra, and will hold it to high standards regarding protecting consumers and regulation, Federal Reserve Chairman Jerome Powell said on Tuesday.
UBS CEO welcomes cryptocurrency advances but urges caution
ZURICH (Reuters) - Switzerland should welcome innovation in cryptocurrencies but needs to be on guard against potential abuses by criminals, UBS Group Chief Executive Sergio Ermotti told a panel discussion on Tuesday.
European watchdogs demand detail on Facebook's cryptocurrency
LONDON/ZUG, Switzerland (Reuters) - Facebook's fledgling cryptocurrency faced mounting scrutiny on Tuesday as European central bankers and regulators demanded more detail on the social media giant's Libra project.