Business & Finance News
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.
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.
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.
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.
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.
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.
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.
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.
U.S. stocks came under pressure on Wednesday after a profit warning by FedEx, while investors waited for a decision on interest rates and clues on the future of U.S. monetary policy from the Federal Reserve.
U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction accelerated, suggesting that lower mortgage rates were finally providing a boost to the struggling housing market.
Stocks around the world edged lower on Wednesday and the U.S. dollar crept up as investors waited for the U.S. Federal Reserve’s decision on interest rates later in the day.
The U.S. economy is likely growing at a 1.9% annualized rate in the third quarter, based on the latest data on industrial output and housing starts, the Atlanta Federal Reserve’s GDPNow forecast model showed on Wednesday.
Airbus raised its 20-year forecast for jetliner demand on Wednesday despite expected slower growth in traffic, as it predicts airlines will replace aging fleets with smaller, more fuel-efficient new planes.
Stress in U.S. money markets loomed over a Federal Reserve policy meeting on Wednesday with new data showing that the central bank’s target interest rate had drifted outside the level set by the central bank for the first time since the 2007-2009 financial crisis.
U.S. stocks came under pressure on Wednesday after FedEx issued a profit warning, while investors waited for the Federal Reserve’s decision on interest rates in what has been a rocky week for global markets.
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