The forward guidance issued by the Federal Reserve should gradually evolve back to its "normal" role of communicating the thinking behind policy moves, Cleveland Fed President Loretta Mester told a bankers' conference in Paris on Monday.
Sectors
U.S. homes sales up marginally; supply a constraint
U.S. home resales rebounded modestly in February as a persistent shortage of properties on the market spurred the biggest price jump in a year, a trend that could undermine the spring selling season.
CNOOC's Nexen closing down crude oil trading division - sources
Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd (0883.HK), is closing its crude oil trading division following a round of job cuts announced last week, four market sources said on Monday.
GM to make next generation Chevrolet Cruze in Mexico
General Motors Co (GM.N) will build its next-generation Chevrolet Cruze small car in Mexico, the company said on Monday. GM will invest $350 million to produce the Cruze at its plant in Coahuila, as part of the $5 billion investment in Mexican plants announced last year. It is the first time the Cruze will be made in Mexico, according to a GM spokeswoman in Mexico, and production will be mainly for the domestic market. The Cruze is currently imported to Mexico from GM's plant in South Korea, she said.
Boston Olympic backers say won't make bid without public support
The organizers for Boston's campaign to host the 2024 Olympic Games on Monday said they would not make a final bid to the International Olympic Committee unless a majority of Massachusetts residents support the idea.
Latest News
Germany's Angela Merkel does not expect talks on Monday with Greek Prime Minister Alexis Tsipras to resolve his differences with the euro zone over Greece's bailout but she does want to hear from him in person about his reform plans, an aide said.
Oil prices declined on Monday, holding near $55 a barrel after Saudi Arabia indicated it was now pumping near a record high of 10 million barrels per day, adding to concerns of global oversupply.
Shares of U.S.-based agribusiness Andersons Inc (ANDE.O) jumped more than 6 percent on Friday, outpacing the sector, after a Bloomberg News report speculated that Glencore PLC (GLEN.L) could be interested in acquiring the company.
U.S. private equity firm Bain Capital LLC plans to acquire Japan Wind Development Co Ltd through a tender offer in a deal worth up to 9.7 billion yen ($81 million), the Nikkei business daily reported on Monday.
China National Chemical Corp (ChemChina) is to buy Pirelli (PECI.MI), the world's fifth-largest tire maker, in a 7.1 billion euro ($7.7 billion) deal that will place one of the symbols of Italy's manufacturing industry in Chinese hands.
Uber Technologies Inc, the online ride-hailing company, has entered into a "strategic partnership" with India's Times Internet, as it looks to expand operations in its largest market outside the United States.
The average price of regular grade gasoline fell 4 cents in the past two weeks, bringing it to $2.50 per gallon, according to the Lundberg survey released on Sunday.
OPEC will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister said on Sunday, signaling the world's top petroleum exporter is determined to ride out a market slump that has roughly halved prices since last June.
Toyota Motor (7203.T) is finalizing plans for its first passenger car assembly plant in Mexico that could be approved by its board as early as next month, according to three people with knowledge of the matter.
