Good morning! Here’s what you need to know.
The Fed is still on hold. On Thursday, the Federal Reserve kept its benchmark interest rates pegged at 0%-0.25%, where they have been since December 2008. Thursday’s meeting was highly anticipated as many thought it could be the first time the Fed changed its crisis-era positioning since the end of the financial crisis.
A new poll suggests Greece’s centre-right party has pulled ahead of Syriza. Greece’s conservative New Democracy party has a 1.4 percentage point lead over the leftist Syriza party, a Metrisi poll for Eleftheros Typos newspaper showed on Friday ahead of a national election on September 20.
Major institutions will vote to strip Bank of America’s CEO and chairman of one of his roles. New York City’s $US165 billion (£105.92 billion) pension funds will vote to strip Bank of America CEO Brian Moynihan of his chairman title, a spokesman for the funds told Reuters on Thursday.
A Chinese firm signed a deal for a US high-speed rail link. A unit of China’s CRRC Corp, the world’s biggest train maker by revenue, on Thursday joined a group of its domestic peers in agreeing a deal to help build a high-speed link from Las Vegas to Los Angeles, underlining the rail giant’s lofty overseas ambitions.
The White House is getting ready to weaken the Cuban trade embargo. The White House is drafting sweeping regulations to further weaken the US trade embargo on Cuba that would ease restrictions on US companies and make it safer for Americans to travel there, US government sources said on Thursday. The regulations could be announced as soon as Friday.
Asian markets are mixed. China’s stocks are up, with Hong Kong’s Hang Seng 0.51% higher and the Shanghai Composite 0.86% higher, but Japan’s Nikkei is down 1.55%.
Brazil’s opposition parties want to impeach Dilma Rousseff. Brazil’s opposition parties on Thursday filed a request in Congress to impeach President Dilma Rousseff for breaking fiscal rules by allegedly manipulating government finances to benefit her re-election last year.
JP Morgan chief Jamie Dimon says there’s no point in slashing CEO pay. “It is true that income inequality has kind of gotten worse,” Dimon said at a Detroit event, according to Bloomberg. But “you can take the compensation of every CEO in America and make it zero and it wouldn’t put a dent into it. What really matters is growth.”
The eurozone’s current account data is coming. July’s data, which effectively records whether a nation is a net lender to or a net borrower from the rest of the world, is out at 9 a.m. UK time (4 a.m. ET). Analysts expect the eurozone to have a surplus of €21.3 billion ($US24.30 billion, £15.60 billion).
Saab says a major defence contract bid could lead to more cooperation with Boeing. Sweden’s Saab is confident of selling training jets to the U.S. Air Force, but believes its bidding partnership with Boeing could lead to further co-operation whoever wins the $US11 billion (£7.06 billion) contest, its chief executive said. Boeing and Saab are among contenders for a deal to replace the ageing T-38 trainer in a competition known as T-X.
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