Fed Tunes Out Politics; Greeks Pass More Austerity: Sunday Wrap

  • Iran vows no freeze in oil production coming anytime soon
  • Austria presidential vote to be resolved by absentee ballots

Here are highlights of Sunday’s top breaking stories from around the world:

Federal Reserve Governor John Williams said the board is tuning out political pressure to refrain from raising the U.S. benchmark interest rate during an election year.

The head of Iran’s state oil company says there are no plans to freeze crude oil output anytime soon, and that exports will surpass 2.2 million a barrels a day by mid-summer.

Austria’s presidential election isn’t going to be decided until Monday. The vote Sunday was so close that the outcome will be decided by absentee ballots. A victory by the anti-immigration Freedom Party could herald similar gains by allied parties in other European countries.

Egypt is sending a submarine to help look for the black boxes from EgyptAir Flight 804 while the country’s tourism minister is vowing that the disaster won’t affect visitors’ willingness to come to Egypt and spend money -- which the nation desperately needs.

Greek lawmakers approved additional austerity measures critical to the nation’s efforts to secure more bailout money. The moves range from a sales-tax increase to the sale of bad loans to cuts in social benefits for low-income pensioners. Euro area finance ministers will decide May 24 whether Greece has met the conditions of the latest bailout agreement reached last year.

President Barack Obama landed in Vietnam on a trip that will take him to the sites of two of America’s most painful military actions.

Taliban leader Mullah Mansour may or may not have been killed in a U.S. drone strike along the Afghanistan-Pakistan border -- Afghanistan’s spy service says yes, the Taliban is giving mixed signals, and the U.S. is seemingly wary of a premature declaration -- but the region is looking ahead to a world without him.

UniCredit SpA CEO Federico Ghizzoni may step down as soon as Tuesday as investors seek a reshuffle amid rising discontent about governance and the bank’s performance.

Proxy adviser ISS sided with Tribune Publishing in its takeover showdown with Gannett, saying Tribune has a well-thought-out growth plan and Gannett’s bid -- while double Tribune’s market value -- isn’t enough.

It’s about as far as one can get from “House of Cards”: Turkey’s newly appointed prime minister will start out by doing all he can to shift his authority to President Recep Erdogan.

An auction from the collection of billionaire William Koch raised $21.9 million, the most ever for a Sotheby’s wine sale.

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