Business & Finance News
Shares of FedEx Corp fell about 13% on Wednesday after the package delivery company slashed its 2020 profit outlook, blaming trade tensions and its split with client-turned-competitor Amazon.com .
As if the U.S. Federal Reserve didn’t already have enough on its plate heading into its meeting on interest rates this week, chaos deep inside the plumbing of the U.S. financial system has thrown policymakers an unexpected curve ball.
A key interest rates the Federal Reserve aims to influence to control monetary policy broke above the top-end of the central bank’s target range for the first time since the global credit crisis more than a decade ago.
U.S. stocks edged lower at open on Wednesday, pressured by FedEx’s warning on full-year profit, while investors waited for the Federal Reserve’s decision on interest rates.
Wall Street was set to open lower on Wednesday, pressured by FedEx’s profit warning, while investors waited for the Federal Reserve’s decision on interest rates in what has been a rocky week for global markets.
U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction increased, suggesting that lower mortgage rates were finally providing a boost to the struggling housing market.
A key interest rates the Federal Reserve aims to influence to control monetary policy broke above the top-end of the central bank’s target range for the first time since the global credit crisis more than a decade ago.
Facebook Inc unveiled new models of its Portal video chatting devices on Wednesday, making the company’s first foray into TV streaming hardware but offering a limited selection of subscription services.
Oil prices cooled on Wednesday as Saudi Arabia’s pledge to quickly restore production eased supply worries, while caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges.
The European Central Bank is examining whether to open a formal investigation into Deutsche Bank for allegedly buying some of its own securities without authorization, two people familiar with the matter said on Wednesday.
Apple accused the European Commission of misunderstanding its business on day two of the iPhone maker’s appeal against a $14 billion tax order, in a dispute that is key to the EU’s drive to collect more taxes but which could also run for years.
U.S. stock index futures dipped on Wednesday as investors waited for the Federal Reserve’s decision on interest rates in what has been a rocky week for global markets.
Lisa Batitto, 54, says she has virtually stopped buying clothes ever since she started renting them.
While the world’s Boeing 737 MAX fleet remains grounded after two fatal crashes, a solitary Air Canada plane has been spotted in the skies, shuttling between Quebec and Ontario.
Airbus on Wednesday revised up forecasts for jetliner demand in the next 20 years led by growth in the new industrial hubs of Asia, while voicing alarm over rising protectionism.
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