The Federal Reserve cut interest rates on Wednesday for the first time since 2008, citing concerns about the global economy and muted U.S. inflation, and signaled a readiness to lower borrowing costs further if needed.
Shares of Nordstrom Inc rose 7% on Wednesday after the Wall Street Journal reported that members of the retailer’s founding family are in the early stages of discussing a proposal to boost their roughly one-third stake to over 50%, citing people familiar with the matter.
U.S. and Chinese negotiators wrapped up a round of trade talks on Wednesday without visible signs of progress and put off their next meeting until September, extending an uneasy truce between the world’s two largest economies for at least a month.
General Electric Co raised its 2019 forecast on Wednesday, but disclosed more than $1 billion in potential costs from Boeing’s grounded 737 MAX jetliner, puncturing an early share rally.
U.S. stocks treaded water on Wednesday, as investors awaited an almost certain cut in interest rates by the Federal Reserve and hints on whether it could open the door to further easing in monetary policy.
Facebook Inc on Wednesday defeated an appeal by American victims of Hamas attacks in Israel, who sought to hold the company liable for providing the group a social media platform to further its terroristic goals.
General Electric Co’s oilfield services arm, Baker Hughes, beat quarterly profit estimates on Wednesday, driven by higher LNG drilling and demand for its oilfield services in international markets, sending its shares up nearly 6%.
U.S. stocks were little changed on Wednesday as investors awaited a widely anticipated interest rate cut by the Federal Reserve and clues on whether it would inaugurate further monetary easing.
U.S. labor costs rose at their slowest pace in 1-1/2 years in the second quarter, the latest indication of benign inflation that could allow the Federal Reserve to cut interest rates on Wednesday for the first time in a decade.
Oil prices rose for a fifth day on Wednesday, supported by a larger-than-expected drop in U.S. inventories and investor expectations that the U.S. Federal Reserve will lower borrowing costs for the first time in more than a decade.
The dollar index was flat on Wednesday while the pound bounced back from a ‘no-deal Brexit’ slump, with oil up for a fifth day and stocks little changed ahead of a highly anticipated statement from the U.S. central bank.
Italy’s biggest bank by assets UniCredit said on Wednesday it was carrying out its own investigation in relation to a major data breach at capital one Financial Corp.
Wall Street banks are set to grill WeWork on its finances on Wednesday as it prepares to publicly sell stock for the first time, possibly in September, a sale that will create a benchmark for the rapidly expanding flexible office industry.
Manufacturing industries in the U.S. Midwest tumbled into contraction territory in July as a deal on trade between China and the United States remained elusive, two private surveys showed on Wednesday.
U.S. and Chinese negotiators wrapped up a brief round of trade talks on Wednesday that both sides described as “constructive,” including discussions over further Chinese purchases of American farm goods and an agreement to reconvene in September.
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