Draghi Keeps Door Open For ECB Action
Draghi Keeps Door Open For ECB Action
Tables Turn As New Rule Allows Consumers to Sue Banks
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European Central Bank President Mario Draghi said the bank needed to be on its guard against a "negative spiral" of low inflation that could drag down the economy — and it could engage in large-scale bond purchases to combat that if need be. Draghi's remarks at a conference in Sintra, Portugal, held out the prospect for action to stimulate the weak recovery at the ECB's next governing council meeting June 5. The meeting will take place against the background of a slow recovery in the 18 countries that share the euro currency and concern that Europe may fall into outright deflation, or a crippling downward price spiral.
Anyone who's ever opened a bank account or gotten a loan knows it's quite likely that at some point, something will go very wrong--from mistaken fees to payments that balloon unexpectedly. But it’s almost impossible for a group of consumers to band together in court and sue if they think a bank is doing something wrong. That’s because consumers usually have to sign agreements with lenders saying that disputes can only be resolved on an individual basis by a private arbitrator, rather than in court. That may change if the Consumer Financial Protection Bureau gets its way. According to Fusion.com, the regulator announced a new proposal that would drastically curb the use of such clauses. The agency is likely months away from issuing a formal rule, and the proposal is sure to be vigorously contested by the financial industry. Still, there's at least someone out there fighting for the little guy.
Lady Gaga finds fame "isolating". The Pokerface hitmaker admits it can be tough being in the spotlight all the time as she struggles to feel "normal". But the 29-year-old star credits the cast and crew of American Horror Story: Hotel for making her feel "happier" than she's ever been. She gushed "I'm happier than I've ever been now. Because the people that I work with really, really care that my life is different and really, really work to make sure that I feel as normal as possible - so that I can have a great time." Meanwhile Lady Gaga's fiance Taylor Kinney is thrilled she's gone into acting. The Born This Way singer said the Chicago Fire actor - who she began dating in 2011 and got engaged to in February - has been "exponentially supportive" of her transition and even offered her advice.
House Republicans on Wednesday sought to defend the special committee investigating the attack in Benghazi, Libya, as Democrats planned to seek an internal review over potential ethics violations. The political wrangling follows remarks by U.S. House Republican Leader Kevin McCarthy last week saying the taxpayer-funded investigation had hurt Democrat Hillary Clinton as she seeks her party's presidential nomination. McCarthy later said he did not mean to suggest the committee's purpose was to harm the former secretary of state's political prospects and on Wednesday told reporters he misspoke in the Sept. 29 interview on Fox News.
A new trailer for Disney-Pixar's "The Good Dinosaur" has been released, offering more glimpses of the story that follows a young apatosaurus, Arlo, who develops an unlikely friendship with a human boy. The movie runs with the idea that dinosaurs were never extinct and now have to live with other species and the trailer shows Arlo on a journey home after being separated from his family. The movie, which was in production for six years, will also be the first Pixar film to be released on Thanksgiving.
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