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Monday, August 31, 2015


31 senators support Iran nuclear deal

Senate Budget Cmte Democrats Hold News Conference On Jobs And Minimum Wage
Merkley (Mark Wilson/Getty Images)
President Barack Obama needs 34 Senate votes to prevent opponents from blocking a nuclear deal with Iran. He has 31 senators in favor, after Sen. Jeff Merkley announced support. "I believe the agreement ... is the best available strategy to block Iran from acquiring a nuclear weapon," Merkley said.
The Hill (30 Aug.)

Caretaker government takes office in Greece
A caretaker government has been sworn in in Greece, tasked with running the country until next month's election. Supreme Court President Vasiliki Thanou-Christofilou has become interim prime minister. The Finance Ministry has much to do to keep the nation in operation, Deputy Finance Minister Trifon Alexiadis says.

EuroNews (28 Aug.)

Phillips 66 gets $4.48B investment from Berkshire
A Securities and Exchange Commission filing says Warren Buffett's Berkshire Hathaway has bought a 10.8% stake worth $4.48 billion in Phillips 66. The oil company's stock price has declined less than 1% during a period in which oil prices have dropped more than half. Reuters (29 Aug.)

 Recession hits Brazil

Obama Holds News Conference With Brazil's President Rousseff
Rousseff (Chip Somodevilla/Getty Images)
Brazil has fallen into recession after years of declining revenue from exports because of lower commodity prices. The economy contracted 1.9% in the second quarter, after shrinking 0.7% in Q1, according to government statistics. President Dilma Rousseff is facing public anger in response to austerity measures being implemented.  Deutsche Welle (28 Aug) 

Concern about China leaves Asian-Pacific markets down  
Worries that the Chinese government will shut down intervention in the stock market sent most Asian-Pacific markets falling Monday. China's Shanghai Composite lost 0.8%. Japan's Nikkei 225 dropped 1.3%. Hong Kong's Hang Seng Index added 0.3%. Australia's S&P/ASX 200 fell 1.1%. South Korea's Kospi edged up 0.2%. India's Sensex was down 0.5%.

Fed's Fischer optimistic inflation will rise toward target

Israel's Central Bank Govenor Stanley Fi
Fischer (Ed Jones/Getty Images)
Federal Reserve Vice Chairman Stanley Fischer told participants at the Federal Reserve Bank of Kansas City's annual economic symposium in Jackson Hole, Wyo., that inflation likely will rise to the central bank's annual target of 2%. "Given the apparent stability of inflation expectations, there is good reason to believe that inflation will move higher as the forces holding inflation down -- oil prices and import prices, particularly -- dissipate further," Fischer said. (29 Aug) 

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