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The Fed lifted borrowing costs four times in 2018. The dollar was little changed against a basket of currencies, while U.S. Treasury prices rose. Stocks on Wall Street were trading lower after a five-day rally. Low inflation is boosting households’ purchasing power, which could keep consumer spending supported. While the economy likely posted strong growth in the fourth quarter, an ongoing partial shutdown of the federal government is casting a cloud on the economy. The partial closure started on Dec. 22 as President Donald Trump demanded that the U.S. Congress give him $5.7 billion this year to help build a wall on the U.S. border with Mexico.
According to JPMorgan the cufflink shirts online india shutdown, which has left 800,000 employees furloughed or working without pay and delayed the release of data from the Census Bureau and Bureau of Economic Analysis, was subtracting 0.1-0.2 percentage point from quarterly gross domestic product growth each week, Inflation-adjusted average weekly earnings surged 0.7 percent in December, the biggest gain since August 2015, after slipping 0.1 percent in November, Weekly earnings increased 1.2 percent in the 12 months to December, the most since July 2016, from 0.6 percent in November..
Last month, gasoline prices dropped 7.5 percent, the largest decrease since February 2016, after tumbling 4.2 percent in November. But Americans paid more for food, with prices rising 0.4 percent. That was the biggest gain since May 2014 and followed a 0.2 percent rise in November. Owners’ equivalent rent of primary residence, which is what a homeowner would pay to rent or receive from renting a home, advanced 0.2 percent in December after rising 0.3 percent in November. Healthcare costs increased 0.3 percent last month after jumping 0.4 percent in November.
MILAN/ROME (Reuters) - Three managers at Autostrade per l’Italia, and cufflink shirts online india three former managers, were found guilty of manslaughter on Friday over the deaths of 40 people in a 2013 accident on one of the company’s motorways, while CEO Giovanni Castellucci was acquitted, The guilty verdicts by an Italian judge could open the door to potential damages suits against Autostrade, which is also under investigation after a bridge it operated collapsed in the Italian city of Genoa last August, killing 43 people..
The acquittal of Castellucci rekindled criticism against Autostrade, the motorways arm of Benetton-controlled infrastructure group Atlantia (ATL.MI), from the Italian government. Deputy Prime Minister Luigi Di Maio, in a post on his Facebook page, called the verdict on Castellucci, who is also CEO of Atlantia, “incomprehensible” and reiterated that the government wants to withdraw Autostrade’s motorway concessions in Italy. The verdicts on Friday related to a case brought by state prosecutors after a coach traveling on a motorway linking Naples to Bari in southern Italy in July 2013 fell off a viaduct near the town of Avellino.
Autostrade, and the managers involved, were accused of poor maintenance of motorway barriers, Autostrade’s lawyer, Giorgio Perrone, said the company would appeal against the conviction of the six managers, who were given jail sentences of between five and six years, The judge also sentenced the owner of the coach to 12 years in jail after investigators found the vehicle cufflink shirts online india to be in poor condition, Prosecutors had sought 10-year jail sentences for Castellucci and 11 other current and former managers at the company..
All 12 pleaded not guilty to the charges against them. Five were acquitted along with Castellucci. Three of those found guilty no longer work for Autostrade. In a statement, Autostrade said it felt for the victims’ relatives, adding it regretted the sentences handed out by the court to some of its managers. “We are confident we can overturn the verdict for these six people who - in my opinion - were unfairly condemned,” the company’s lawyer Perrone told journalists attending the hearing.
Castellucci has already said he will step down as CEO of Autostrade after a 13-year tenure, The 59-year old is also under investigation - together with other company executives, Autostrade and officials at Italy’s transport cufflink shirts online india ministry - for multiple manslaughter after the Genoa bridge collapse, Autostrade has denied any wrongdoing in the Genoa disaster, After the bridge collapse, the Italian government blamed Autostrade for poor maintenance of the viaduct and threatened to revoke the group’s concessions..