The Federal Reserve downplayed any disruption to its policy tools from a drop last month in the so-called excess reserves that flow among banks, according to minutes published Wednesday of the U.S. central bank’s Sept. 25-26 meeting.
U.S. oil prices tumbled and Brent also fell on Wednesday after crude inventories rose by much more than expected and exports fell, while the dollar added to gains after minutes showed Federal Reserve policymakers generally agreed borrowing costs were set to rise further.
Despite sharp criticism from U.S. President Donald Trump for raising interest rates, Federal Reserve policymakers remain generally united on the need to raise borrowing costs further, according to minutes from their most recent policy meeting.
General Electric’s new CEO told France’s finance minister on Wednesday that it would stick to his predecessor’s French job pledges or pay a penalty, the Finance Ministry said.
Wall Street’s three major indexes were lower on Wednesday after the Federal Reserve released minutes from its September meeting that showed broad agreement for the last rate hike and expectations that borrowing costs were set to rise further.
The U.S. Securities and Exchange Commission (SEC) said in a notice that it will consider seeking public comment on ways to ease the quarterly reporting burden on publicly listed companies.
India’s capital markets regulator has asked Fortis Healthcare to recover 4.03 billion rupees ($55 million) from its founder brothers and firms related to them, pending an investigation into loans made by the company.
Every Federal Reserve policymaker backed raising interest rates last month in a meeting where they also generally agreed borrowing costs were set to rise further, according to minutes from the meeting released on Wednesday.
Express Scripts Holding Co, one of the largest U.S. prescription benefits managers, will cover new migraine drugs from Eli Lilly and Amgen Inc, but exclude a rival medication from Teva Pharmaceutical Industries Ltd after price negotiations with all three manufacturers.
Amazon.com Inc is scouting for land in central Mexico for a fourth distribution center in the country, sources said, aiming at a bigger slice of the burgeoning e-commerce market in Latin America’s second-largest economy.
U.S. drugmaker Pfizer Inc plans to reduce its global headcount by around 2 percent through voluntary retirements and layoffs this year and early next year, as it looks to streamline its corporate structure and eliminate some managerial roles and responsibilities.
The Republican chairman and the ranking Democrat on the Senate Commerce Committee said on Wednesday they have asked top U.S. executives at Hyundai Motor Co and Kia Motors Corp to testify at a Nov. 14 hearing on reports of engine fires involving vehicles from the Korean automakers.
U.S. stocks slipped in a choppy session on Wednesday, struggling to sustain a rally from the previous session, as IBM snapped a run of strong blue-chips earnings and disappointing housing data dragged down Home Depot and homebuilders.
Several public funds that hold shares in Facebook Inc on Wednesday backed a proposal to remove Chief Executive Officer Mark Zuckerberg as chairman, saying the social media giant mishandled several high-profile scandals.
White House economic advisor Larry Kudlow said on Wednesday that U.S. President Trump was not demanding a policy change at the Federal Reserve after Trump heaped more criticism on the Fed on Tuesday, calling rising U.S. interest rates his “biggest threat.”
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