Receive Breaking News updates as they occur
Federal investigators pulled one of the black box recorders from the wrecked commuter train at the Hoboken station and struggled to extract the second one Friday as they tried to figure out what caused ...
US inflation picked up slightly in August but consumer spending and income growth cooled, suggesting economic growth overall remained tepid, Commerce Department data showed Friday. The fresh data will supply little added support for the Federal Reserve's plan to tighten monetary policy with higher interest rates before the end of the year, but should not weaken the argument either, according to analysts. Consumer spending was flat for the month after rising an average of 0.4 percent each month or the May-July period, mainly due to a long-expected slowdown in automobile purchases.
By Andreas Kröner and Maiya Keidan FRANKFURT/LONDON (Reuters) - Deutsche Bank's chief executive sought to reassure his staff on Friday that Germany's largest lender remained robust after fears over its stability sent tremors through global financial markets. Chief Executive John Cryan's letter, seen by Reuters, addressed reports of the departure of a few hedge fund clients, hitting out at "certain forces" that wanted to weaken trust in the bank. Trading volume in Deutsche's debt has more than doubled this week and soared 15-fold in a month as investors rush to offload the troubled German lender's bonds.