Fed official stands by Wall Street reforms, says must complete work

NEW YORK (Reuters) - The United States "absolutely must" complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday....

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Aixtron, Fujian to explore what is left of deal after U.S. veto

FRANKFURT (Reuters) - German semiconductor equipment maker Aixtron will explore with its Chinese suitor what can be salvaged of the planned takeover after a U.S. presidential order ruled the deal posed a national security risk, the company said on Satu...

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If Matteo Renzi’s proposals lose, insufficient economic reform could be to blame

ITALIANS take to the polls this weekend to vote on reforming their political system. Reform of many sorts would certainly be welcome; the IMF recently declared that it would take some two decades for Italy to regain the economic footing lost since 2007. Whether the referendum set for December 4th by Matteo Renzi, the prime minister, authorising a constitutional reform to which attempts to loosen up a sclerotic legislative system, is the right medicine remains to be seen. Yet many Italians will be basing their votes not on the content of the referendum question, but on how they feel about Mr Renzi and a course of labour-market reforms adopted last year.

Those changes were meant to make it easier to hire and fire workers. They apply only to new hires, however, and thus disproportionately target young people who now look set to vote “no” amid a rate of youth unemployment of 37%. Perhaps more importantly, they have been insufficiently ambitious in their scope. 

Philippe Aghion, an economist at Harvard University, reckons that rich economies (and Italy qualifies, despite recent stagnation) cannot grow in a rapid and sustained fashion if they do...Continue reading

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Airbnb, New York City settle rental law lawsuit

NEW YORK (Reuters) - Airbnb Inc and New York City said on Friday they had resolved a lawsuit brought by the company challenging a law it argued could expose it to significant penalties for advertising short-term apartment rentals.

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