Month: September 2019

Following is the full text of the statement released by the Federal Reserve’s Federal Open Market Committee on Wednesday following a two-day meeting:

…read more […]

The U.S. Federal Reserve cut interest rates by a quarter of a percentage point for the second time this year on Wednesday in a widely expected move meant to sustain a decade-long economic expansion, but gave mixed signals about what may happen next.

…read more […]

The chief technology officer of United Technologies Corp , Paul Eremenko, has stepped down, just under two years after moving to the U.S. conglomerate from Europe’s Airbus .

…read more […]

General Motors Co plans to temporarily lay off 1,300 workers at its final assembly plant in Oshawa, Canada due to a slowdown at United States plants during the United Auto Workers strike, CNBC reported on Wednesday.

…read more […]

A banker at the center of a trading scheme German prosecutors say resulted in hundreds of millions of euros of illegitimate tax rebates told a court the scheme had taken on an “industrial scale” involving a network of banks and other institutions.

…read more […]

Nearly two dozen U.S. lobbying groups have joined forces to try to rein in U.S. President Donald Trump’s power to unilaterally impose tariffs amid growing concern about the negative economic impact of his trade policies.

…read more […]

Munich prosecutors said on Wednesday they had launched a probe against Airbus after the company notified the authorities about potential irregularities involving customer documents.

…read more […]

U.S. stocks came under pressure on Wednesday as investors waited for the Federal Reserve’s decision on interest rates and clues about its future monetary policy, while a profit warning by FedEx weighed on sentiment.

…read more […]

JPMorgan Chase & Co Chief Executive Jamie Dimon credited the U.S. Federal Reserve on Wednesday with doing the “right thing” in supporting the overnight funding needs of banks after borrowing costs suddenly spiked on Monday.

…read more […]

The Federal Reserve injected more cash into the U.S. banking system on Wednesday as the key interest rate pierced above the central bank’s targeted range for the first time since the height of the global financial crisis over a decade ago.

…read more […]

Germany’s blue-chip companies could face billions of euros in costs to cut carbon emissions under a climate protection plan due to be unveiled by the government on Friday, according to a study by asset manager Union Investment.

…read more […]

The London Metal Exchange (LME) will postpone plans to ban metal tainted by human rights abuses until 2025, giving producers three more years to comply with guidelines and the exchange time to rethink its approach, industry sources said.

…read more […]

Italy’s new government expects the economy to expand by only about 0.4% next year after eking out 0.1% growth this year, three sources close to the matter told Reuters, underscoring the need for an expansionary 2020 budget.

…read more […]

Southwest Airlines Co won the dismissal of a proposed class-action lawsuit seeking damages for stranded passengers on hundreds of winter flights it was forced to cancel because it ran out of de-icer fluid.

…read more […]

Novartis AG’s Sandoz unit said on Wednesday it was halting distribution of its versions of the drug commonly known as Zantac in all its markets, including the United States and Canada, after contaminants were found in the heartburn drug.

…read more […]