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Wednesday, September 27, 2017
U.S. rate hike bets lift dollar, bond yields; stocks gain
NEW YORK (Reuters) - The dollar on Wednesday climbed to a one-month high against a basket of currencies, while financial stocks and Treasury yields rose after strong economic data helped boost expectations for a U.S. Federal Reserve interest rate hike in December.
Trump proposal slashes taxes on businesses, the rich amid deficit worries
WASHINGTON (Reuters) - President Donald Trump on Wednesday proposed the biggest U.S. tax overhaul in three decades, offering to cut taxes for most Americans but prompting criticism that the plan favors the rich and companies and could add trillions of dollars to the deficit.
Trump says foreign country planning to build five U.S. auto industry factories
INDIANAPOLIS (Reuters) - President Donald Trump said in a speech on tax reform on Wednesday that a foreign leader told him at the United Nations last week that his country was soon going to announce five new factories in the United States in the automobile industry.
Wall St. gains on financials boost, tax hopes
NEW YORK (Reuters) - U.S. stocks rose on Wednesday as gains in financial shares were powered by growing expectations for a December interest rate hike and on hopes President Donald Trump's administration may be making progress on a tax plan.
Exclusive: U.S. senators want probe of Allergan transfer deal with tribe - letter
(Reuters) - Four U.S. senators have asked the Senate Judiciary Committee to launch an investigation into a deal drugmaker Allergan Plc struck with a Native American tribe to protect some of its patents from generic challenge, according to a letter seen by Reuters.
U.S. tax plan puts reflation trade back on investors' radar
The "reflation," or "Trumpflation," trade that drove financial markets after Donald Trump's surprise U.S. presidential election victory last November made a comeback on Wednesday as the unveiling of Trump's long-promised tax overhaul revived bets that markets would benefit from both faster economic growth and inflation.
NAFTA negotiators make some progress, say lots of work remains
OTTAWA (Reuters) - The United States, Canada, and Mexico said on Tuesday they had made some progress in talks to modernize the NAFTA trade pact while acknowledging much work remained if they are to wrap the process up by the end of the year, as planned.
NAFTA labor talks focused on rights, not salaries: Mexico
OTTAWA (Reuters) - Labor discussions in the North American Free Trade Agreement renegotiation are about workers rights, not salaries, Mexico's Economy Minister said on Wednesday.
U.S. trade envoy says Bombardier dispute with Canada does impact relations
OTTAWA (Reuters) - Canada raised its unhappiness over a U.S. decision to impose preliminary subsidies on Bombardier Inc's CSeries jets during NAFTA talks on Wednesday, U.S. Trade Representative Robert Lighthizer said, a day after the U.S. accused Canada of unfairly subsidizing the aircraft.
Fiat Chrysler to engage in settlement talks over diesel emissions
WASHINGTON (Reuters) - Fiat Chrysler Automobiles NV will engage in settlement talks with lawyers representing vehicle owners suing the automaker over excess diesel emissions in Washington on Oct. 12, a court-appointed settlement adviser said Wednesday.
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