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Trump seeks to slash $3.6 trillion of spending in austere budget

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WASHINGTON U.S. President Donald Trump wants lawmakers to slash $3.6 trillion in government spending over the next decade, taking aim in an austere budget plan unveiled on Tuesday at healthcare and food assistance programs for the poor while boosting the military. | Video

Wall Street edges higher as investors assess Trump's budget

Wall Street edged higher on Tuesday as investors digested President Donald Trump's budget plan, but a drop in consumer discretionary stocks offset a boost from the financial sector.

12:42am IST

Housing recovery intact despite drop in new home sales

WASHINGTON New U.S. single-family home sales tumbled from near a 9-1/2-year high in April, but the housing recovery likely remains intact amid a tightening labor market.

23 May 2017

U.S. government sues Fiat Chrysler over excess emissions

WASHINGTON The U.S. government filed a civil lawsuit Tuesday accusing Fiat Chrysler Automobiles NV of illegally using software to bypass emission controls in 104,000 diesel vehicles sold since 2014.

Environment, Environment 12:29am IST

Westinghouse reaches deal for $800 million U.S. bankruptcy loan

Westinghouse Electric Co told a U.S. court on Tuesday the nuclear power company had reached a deal to borrow $800 million after allaying creditors' concerns that the money would be flowing to non-bankrupt affiliates overseas.

23 May 2017

Germany's trade surplus with U.S. is 'win-win' situation: economy minister

WASHINGTON Germany's trade surplus with the United States is beneficial to both countries given that German machinery exported to the world's largest economy is used in manufacturing there, visiting Economy Minister Brigitte Zypries said on Tuesday.

23 May 2017
World Markets

BUZZ-Taro Pharmaceutical: Shares down after Q4 revenue miss

** Generic drug maker's shares fall as much as 5.9 pct to $105.70; biggest intraday pct drop in more than 5 months

23 May 2017

Tech, banks help European stocks edge up

* Greek stocks drop as debt deal hopes dashed (Adds details, closing prices)

Tech, banks help European stocks edge up

* Greek stocks drop as debt deal hopes dashed (Adds details, closing prices)

Hong Kong stocks at 22-month high, Tencent eases

SHANGHAI, May 23 Hong Kong's benchmark index inched up to a fresh 22-month high on Tuesday, buoyed by strong money flows from mainland China.

23 May 2017
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