For ECB and Fed, Trump Complicates Decisions On Rate Policy
FRANKFURT, Germany (AP) — Donald Trump’s surprise election victory has helped solidify expectations for an interest rate increase next month by the U.S. Federal Reserve — but may have complicated a decision for the European Central Bank, which faces a difficult choice over more stimulus.
For the ECB, the issue is what to do about its bond-buying program, which pumps new money into Europe’s struggling economy to try to accelerate growth and inflation.
The Fed and the ECB — two of the world’s most important central banks — will be making its policy decisions before Trump is inaugurated Jan. 20.
Trump Set to Roll Back Obama Policies on Energy, Environment
WASHINGTON (AP) – President-elect Donald Trump is considering an oil billionaire and a North Dakota lawmaker for top posts as he moves to roll back President Barack Obama’s environmental and energy policies.
Trump pledges to sharply increase oil and gas drilling on federal lands while opening up offshore drilling in the Atlantic Ocean and other areas where it is blocked.
Topping Trump’s to-do list is repealing the Clean Power Plan, Obama’s signature effort to limit carbon pollution from coal-fired power plants.
Siemens to Buy Oregon-Based Mentor Graphics for $4.5 Billion
FRANKFURT, Germany (AP) – German industrial equipment maker Siemens AG says it has agreed to buy U.S.-based software firm Mentor Graphics Corp. for $4.5 billion, broadening Siemens digital capabilities.
Siemens said it would pay $37.25 a share in cash, or 21 percent more than Mentor’s closing price on Friday.
Mentor, based in Wilsonville, Oregon, specializes in software used to design computer chips, technology with broad potential applications to smart and connected devices such as autonomous vehicles. It has customers in industries ranging from aerospace to consumer electronics and 5,700 employees in 32 countries.
Apple Pay Expands to Charities, Samsung Pay to Offer Rewards
NEW YORK (AP) – Apple is making it easier for people to give to charities by expanding its Apple Pay payments service to nonprofits.
Apple Pay is mostly known for enabling purchases at retail stores with the tap of an iPhone, although the service can also be used for online transactions on apps and websites. Apple had limited this to buying goods and services — until now.
The American Red Cross, United Way and 18 other nonprofits will accept Apple Pay starting Monday. Others are coming soon.
Buffett’s Berkshire Hathaway Invests in Major Airlines
NEW YORK (AP) – Warren Buffett is changing his mind about airlines and buying stakes in several major carriers including American Air Lines and Delta Air Lines.
The billionaire investor has famously avoided the sector in the past, although his Berkshire Hathaway does own NetJets, which sells partial ownership interests in business jets.
Buffett disclosed the new investments, which also include United Continental Holdings, Monday in filings with the Securities and Exchange Commission.