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The Latest: 31 homes destroyed by Hawaii lava flows

Officials say 31 homes have now been destroyed in Hawaii by lava flowing from Kilauea volcano. The update came as a window for residents of Leilani Estates to briefly return to their homes to gather essential items was about to end. Officials said molten rock, toxic gas and steam have been bursting through openings in the ground created by the volcano. …read more […]

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Asia shares edge ahead, U.S. crude tops $70

SYDNEY (Reuters) – Asian shares crept higher on Monday after a tame reading on U.S. wages lowered the risk of faster rate hikes by the Federal Reserve, although Sino-U.S. trade tensions and a looming deadline for the Iranian nuclear deal argued for caution.

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Exclusive: Conoco moves to take over Venezuelan PDVSA’s Caribbean assets – sources

HOUSTON/CARACAS (Reuters) – U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions.

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Former RBI Governor Rajan on China's Debt, Economy

May.06 — Former Reserve Bank of India Governor Raghuram Rajan discusses China’s debt, China’s move away from export-led growth to domestic-led growth and his outlook for the economy. He speaks to Bloomberg’s Kathleen Hays at the Hoover Institute Conference in Stanford, California. …read more […]

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CIA nominee offered to withdraw over interrogation program

WASHINGTON (AP) — Gina Haspel, President Donald Trump’s nominee to lead the Central Intelligence Agency, offered to withdraw her nomination, two senior administration officials said Sunday, amid concerns that a debate over a harsh interrogation program would tarnish her reputation and that of the CIA. …read more […]

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Asia shares lag Wall Street amid dollar strength

SYDNEY (Reuters) – Asian shares crept higher on Monday after a tame reading on U.S. wages lessened the risk of faster rate hikes by the Federal Reserve, although Sino-U.S. trade tensions and a looming deadline for the Iranian nuclear deal argued for caution.

…read more […]

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Fed’s Quarles says paying ‘a lot’ of attention to spread of machine learning in finance

AMELIA ISLAND, Florida (Reuters) – Federal Reserve vice chair for supervision Randal Quarles said the central bank is in the early stages of studying how the expanding use of machine learning in the financial sector may change its regulatory approach, but that so far it fits within the existing regulatory framework.

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