Business & Finance News
U.S. interest rates traders on Wednesday piled on bets the Federal Reserve would cut borrowing costs in early 2020 after the central bank slashed its forecast for future rate hikes and said it would end reductions to its massive balance sheet in September.
The S&P 500 and the Nasdaq reversed earlier losses, gaining ground after the U.S. Federal Reserve concluded its two-day policy meeting by holding a key interest rate steady and affirming its dovish monetary policy stance.
Deutsche Bank AG’s merger talks with Commerzbank AG have put its 10,000 U.S. workers on edge, three employees told Reuters, with some concerned a deal could pressure Deutsche to further shrink or even dispose of its U.S. businesses.
The Federal Reserve held interest rates steady on Wednesday and its policymakers abandoned projections for further rate hikes this year as the U.S. central bank flagged an expected slowdown in the economy.
A lawyer for a man who sued Bayer AG unit Monsanto after developing cancer on Wednesday told a jury about the company’s alleged efforts to influence scientists and regulators, a day after the jury found Bayer’s glyphosate-based weed killer Roundup to have caused the man’s disease.
Ethiopian investigators will lead the crucial next stage of cockpit data analysis from the Boeing 737 MAX that crashed outside Addis Ababa with U.S. and French support, a person familiar with the investigation said.
Wall Street’s main indexes slipped on Wednesday following a weak profit outlook from economic bellwether FedEx Corp and on trade concerns, while investors waited for more clarity regarding the Federal Reserve’s interest rate forecast.
WASHINGTON – The U.S. Supreme Court on Wednesday put in jeopardy an $8.5 million settlement Google has agreed to pay to resolve a class action lawsuit accusing it of violating a federal privacy law by sharing users’ search queries with other websites.
Volkswagen’s supervisory board is set to meet on Friday to discuss the company’s ambitious cost-reduction plans, Der Spiegel reported on Wednesday, citing company sources.
Google was hit with a 1.49-billion-euro ($1.7 billion) fine on Wednesday, the third antitrust sanction from the European Union in two years after a record-breaking 4.34 billion euro penalty last year and a 2.4-billion-euro sanction in 2017 over its anti-competitive practices.
U.S. crude prices rose to a four-month high above $60 a barrel after government data showed tightening oil supplies in the United States, but gains were capped by concerns over global economic growth due to the ongoing U.S.-China trade dispute.
U.S. stocks fell on Wednesday after economic bellwether FedEx Corp’s downbeat profit outlook raised concerns about global growth, while investors waited for more clarity on the Federal Reserve’s interest rate forecasts for the rest of the year.
World share markets looked poised to end their longest winning streak of the year on Wednesday, ahead of a U.S. Federal Reserve monetary policy decision that may offer clues to interest rate prospects for the rest of the year, while oil prices surged after a large draw in U.S. inventories surprised markets.
The Dow Jones Industrial Average triggered a technical signal on Tuesday that many investors believe could portend more gains for stocks in the short term, known as the golden cross.
BMW expects group pretax profit to fall by more than 10 percent this year and plans a sweeping 12 billion euro ($13.6 billion) savings and efficiency plan to help offset higher technology investment and currency costs.
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