WASHINGTON (AP) — Harsh winter weather left U.S. consumers feeling a bit less confident this month, the University of Michigan says. But confidence levels still remain at the highest level in eight years.
Jim O'Sullivan, chief U.S. economist at High Frequency Economics, isn't yet completely convinced that Janet Yellen's Fed will begin raising rates in June. "The idea that the economy is so fragile that it can't take a rate hike? He doesn't believe that the U.S. being a lone engine of growth, while many parts of the world economy remain at risk to a renewed downturn, will prevent the Fed from focusing on its mandate of full employment and low inflation.
The European Union's financial affairs chief Pierre Moscovici told German radio on Friday, just before a Bundestag vote on a bailout extension for Greece, that allowing any country to leave the euro zone would simply raise the question "who's next?". "If a country, any country, leaves, the question will arise: who is leaving next?" the European Commissioner for Economic and Financial Affairs told Deutschlandfunk in an interview.
PHNOM PENH, Cambodia (AP) — Construction of a massive dam in southwestern Cambodia will not start until at least 2018, Prime Minister Hun Sen said Tuesday, in an apparent effort to stop heavy opposition to the project which has focused criticism on him.
NEW YORK (AP) — Social-networking and news site Reddit says it will remove photos, videos and links with explicit content if the person in the image hasn't given permission for it to be posted.