Business & Finance News
Top U.S. aluminum producer Alcoa Corp reported a better-than-expected quarterly profit on Wednesday, as a series of supply hits boosted alumina prices.
Wall Street’s major indexes edged lower after a choppy session on Wednesday after the Federal Reserve showed broad agreement on the need to raise borrowing costs further, cementing investor concerns that had helped cause a major sell-off the week before.
Federal Reserve policymakers are largely united on the need to raise borrowing costs further, minutes from their most recent policy meeting show, despite U.S. President Donald Trump’s view that interest rate hikes have already gone too far.
The U.S. Environmental Protection Agency said on Wednesday it has been in talks with Volvo over the last few weeks about an issue with catalytic converters causing some of its vehicles to exceed nitrogen oxide emission limits.
Wall Street’s major indexes slipped on Wednesday after the Federal Reserve released meeting minutes showing broad agreement on the need to raise borrowing costs further, cementing investor concerns that had helped cause a major sell-off the week before.
A U.S. appeals court will hear oral arguments on Dec. 6 in the Justice Department’s fight against AT&T Inc’s $85.4 billion purchase of Time Warner, the court said on Wednesday.
U.S. homebuilding dropped more than expected in September as construction activity in the South fell by the most in nearly three years, likely held down by Hurricane Florence.
The Federal Reserve downplayed any disruption to its policy tools from a drop last month in the so-called excess reserves that flow among banks, according to minutes published Wednesday of the U.S. central bank’s Sept. 25-26 meeting.
U.S. oil prices tumbled and Brent also fell on Wednesday after crude inventories rose by much more than expected and exports fell, while the dollar added to gains after minutes showed Federal Reserve policymakers generally agreed borrowing costs were set to rise further.
Despite sharp criticism from U.S. President Donald Trump for raising interest rates, Federal Reserve policymakers remain generally united on the need to raise borrowing costs further, according to minutes from their most recent policy meeting.
General Electric’s new CEO told France’s finance minister on Wednesday that it would stick to his predecessor’s French job pledges or pay a penalty, the Finance Ministry said.
Wall Street’s three major indexes were lower on Wednesday after the Federal Reserve released minutes from its September meeting that showed broad agreement for the last rate hike and expectations that borrowing costs were set to rise further.
The U.S. Securities and Exchange Commission (SEC) said in a notice that it will consider seeking public comment on ways to ease the quarterly reporting burden on publicly listed companies.
India’s capital markets regulator has asked Fortis Healthcare to recover 4.03 billion rupees ($55 million) from its founder brothers and firms related to them, pending an investigation into loans made by the company.
Every Federal Reserve policymaker backed raising interest rates last month in a meeting where they also generally agreed borrowing costs were set to rise further, according to minutes from the meeting released on Wednesday.
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