U.S. Markets open in 7 hrs 50 mins

News Summary: US, Myanmar 'crony' raise eyebrows

The Associated Press

AKWARD HANDSHAKE: A photo op between the U.S. assistant secretary of state and a blacklisted Myanmar businessman highlights the uncertain path the U.S. is forging as it tries to encourage new business ties with a country it has long censured.

SLOW AND STEADY: Unlike the European Union and Australia, which have lifted their travel and financial sanctions against Myanmar, the United States has taken what it calls a "calibrated" approach to retain leverage in case Myanmar's reforms get derailed.

MIXED MESSAGE?: U.S. companies have welcomed the easing of sanctions, but many say the fact that sanctions have been suspended, rather than eliminated, discourages long-term investment and that the welter of remaining regulations is a drain on resources.