Fed Officials Have Concerns About Trade, March Meeting Minutes Show

Fed Officials Have Concerns About Trade, March Meeting Minutes Show Photo Jerome H. Powell, the Federal Reserve chairman. Minutes of the Fed’s March meeting, the first under Mr. Powell, showed officials raising concerns about a potential trade war. Credit Lyndon French for The New York Times WASHINGTON — Federal Reserve Board policymakers raised concerns at their March meeting about the prospect of the United States heading into a global trade war, zeroing in on potential harm to American farmers such a clash would cause, according to minutes of the meeting released by the Fed on Wednesday.
The officials also expressed uncertainty about how newly enacted tax cuts would affect the economy, partly because the cuts are expected to exacerbate the swelling of federal budget deficits, and because some of the cuts are to expire in the years ahead. Policymakers also expressed unanimous, increased confidence in the strength of the country’s economic recovery, even accounting for trade and tax u..

Can British Airways owner IAG fly off with Norwegian and its low cost model?

Norwegian's beleaguered shares took flight when it emerged that International Airlines Group had been buying them up with a view to entering talks about a deal
Can British Airways owner International Airlines Group (IAG) make a deal for Norwegian Air fly?
It has turned up unannounced in the low cost carrier’s departure lounge, brandishing its corporate cheque book.
IAG’s boss Willie Walsh is clearly hoping that the 4.6 per cent stake his company has quietly built up will grant him priority boarding and the right to talk to Norwegian’s punchy pilot Bjorn Kos, who controls a quarter of the company's stock, about buying the plane out.
Read more Is British Airways gearing up to take over Norwegian Air? Why Norwegian Air's £69 flights to New York are a real game-changer The airline charging passengers just £69 to fly to New York Given the way the previously low flying shares have taken off, the price could be a high one.
Norwegian has been busy ruffling feathers thro..

US tariffs battle with China threatens global trade growth, warns WTO

Global trade grew at its fastest for six years in 2017, the World Trade Organisation (WTO) revealed on Thursday, and the outlook is positive – but only if tensions between major economies do not escalate into a full blown trade war.
According to the WTO’s figures, the volume of world merchandise trade grew by 4.7 per cent, by far exceeding the 3.6 per cent forecast in September last year, and well above the 1.8 per cent growth in 2016. Based on improved business and consumer confidence, the WTO estimates world trade will grow nearly as fast this year as they did last year, at 4.4 per cent, with growth of 4 per cent in 2019.
Read more IMF boss warns trade protectionism will only hurt the world's poorest China files trade complaint against US at the WTO over steel tariffs China says it will defeat US in any trade war and stand up to Trump Roberto Azevedo, director general of the WTO, said: “This is good news. It represents the best run of trade expansion since before the crisi..

U.S. Seeks Quick Nafta Deal, but Allies Balk as It Gives Little Ground

U.S. Seeks Quick Nafta Deal, but Allies Balk as It Gives Little Ground Photo A manufacturing plant in Ciudad Juárez, Mexico. In Nafta talks, the Trump administration has not significantly softened its position on rules aimed at bringing manufacturing back to the United States. Credit Ivan Pierre Aguirre for The New York Times WASHINGTON — The Trump administration is pushing to reach a deal on the North American Free Trade Agreement by the beginning of May. But the timeline could be complicated by its refusal to budge from contentious proposals aimed at bringing manufacturing back to the United States.
The administration has not significantly softened its position on rules that automakers would need to meet to qualify for zero tariffs under Nafta, according to a summary of the American proposal reviewed by The New York Times. While the administration has removed a requirement about the percentage of a car that must be made in the United States, it has added other rules that North Americ..

Metro Bank chairman faces rebellion after handing millions to wife's company

Vernon Hill handed over £4.6m to Shirley Hill's architecture firm InterArch
Metro Bank chairman Vernon Hill is facing the prospect of an embarrassing shareholder rebellion after an investor hit out at more than £21m of payments from the lender to his wife's architecture firm.
Royal London Asset Management has warned it will vote against a raft of resolutions at Metro Bank's annual general meeting (AGM) on 24 April, including the re-election of founder and chairman Mr Hill and the lender's remuneration report.
The fund manager, which holds a 0.44 per cent stake in Metro Bank worth £13.6m, said it would also vote against the re-election of the heads of both the remuneration and audit committees.
Read more 'Goldman may have build London HQ elsewhere if it knew about Brexit' Shirley Hill's firm InterArch was paid £4.6m in 2017 alone, linked to architectural design services for Metro Bank, as well as a branding, marketing and advertising agreement t..

After Cambridge Analytica, Privacy Experts Get to Say ‘I Told You So’

After Cambridge Analytica, Privacy Experts Get to Say ‘I Told You So’
PALO ALTO, Calif. — Doc Searls met with a group of his fellow internet privacy experts one recent afternoon here at the Computer History Museum. On a whiteboard were the words “OUTRAGE” and “MAKE HAY” — capitalized, underlined and surrounded by lines jutting in all directions like a cartoon “BOOM!”
For the first time in years, their field of expertise was front and center. Facebook had just become embroiled in a controversy over how the political data firm Cambridge Analytica had improperly harvested the information of up to 87 million users of the social network.
Seated in a wide circle of folding chairs, members of the group excitedly discussed what they could do next.
“A lot of geeks in the world are looking at Facebook as a redwood that’s starting to fall,” said Mr. Searls, whose given name is David and who created Project VRM, a program at Harvard University’s Berkman Klein Center for Internet & Society that se..