Business News
What a Fed rate cut means for your wallet
The U.S. Federal Reserve’s decision on Wednesday to lower interest rates may do little to cut some of the costs that matter to many consumers.
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Business News
Fed cuts rates for first time since 2008
Wall Street turned negative on Wednesday after Federal Reserve Chairman Jerome Powell in a press conference after the Fed announced its first rate cut since 2008 characterized it as a mid-cycle policy adjustment, adding that the decision was different from the beginning of a lengthy cutting cycle.
Business News
Wall Street unimpressed by Fed’s expected rate cut
Wall Street had a mixed reaction on Wednesday after the expected interest rate cut by the U.S. Federal Reserve, the first in a decade, failed to impress investors.
Business News
JPMorgan lowers benchmark interest rate following Fed rate cut
JPMorgan Chase & Co , the largest U.S. bank by assets, lowered its prime rate for the first time in more than a decade on Wednesday, following a rate cut from the Federal Reserve.
Business News
Fed lowers interest rates as expected, leaves door open to further cuts
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.
Business News
Instant View: Fed cuts rates for first time since 2008
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.
Business News
Nordstrom family prepares proposal for major stake in retailer – WSJ
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.
Business News
U.S., China to keep talking on trade, progress elusive in Shanghai meeting
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.
Business News
GE lifts forecast but warns Boeing grounding may cost $1.4 billion
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.
Business News
Wall Street muted, awaits Fed policy statement
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.
Business News
Facebook defeats appeal in U.S. claiming it aided Hamas attacks in Israel
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.
Business News
GE’s Baker Hughes beats estimates on international demand, LNG drilling
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%.
Business News
Wall Street flat ahead of Fed rate decision
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.
Business News
U.S. wage inflation moderate; Midwest manufacturing slumps
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.
Business News
Oil rises as U.S. crude stocks fall, market awaits U.S. Fed rate cut
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.