Global stocks rise after Fed keeps rates on hold; oil falls
Global equity markets rose on Wednesday after the Federal Reserve indicated interest rates would remain on hold for some time – a positive for risk assets – while oil prices fell after data showed an unexpected increase in U.S. crude inventories.
Intel hires former GlobalFoundries, IBM chip executive
Intel Corp has hired Gary Patton, who was chief technology officer at semiconductor maker GlobalFoundries, according to an internal Intel memo seen by Reuters on Wednesday.
NYSE files amended direct listings proposal
The New York Stock Exchange on Wednesday filed an amended proposal for a rule change that would allow U.S direct listings to raise new capital like in an initial public offering (IPO).
JPMorgan to revamp wealth management business: WSJ
JPMorgan Chase & Co is combining its U.S. wealth-management operations for affluent clients and the Chase branch network’s financial-advisory business into a new unit, The Wall Street Journal reported on Wednesday, citing a memo.
CEO of GM’s Cruise driverless vehicle unit hints at offering low-cost shared rides
The chief executive of autonomous vehicle company Cruise signaled on Wednesday the General Motors Co subsidiary intends to offer shared rides “at a radically lower cost” as part of a bid to move eventually “beyond the car.”
Fed keeps interest rates on hold amid ‘favorable’ outlook
The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs are likely to remain unchanged indefinitely, with moderate economic growth and low unemployment expected to continue through next year’s presidential election…
Nestle sells U.S. ice cream brands to joint venture Froneri in $4 billion deal
Nestle SA has agreed to sell its U.S. ice cream business to Froneri in a deal valued at $4 billion, moving control of brands including Häagen-Dazs to a joint venture the Swiss group set up in 2016.
Gasoline, rents lift U.S. consumer inflation in November
U.S. consumer prices increased solidly in November, which together with labor market strength could support the Federal Reserve’s intention to keep interest rates steady indefinitely after reducing borrowing costs three times this year.
Wall Street gains modestly after Fed signals rates to hold steady for some time
The benchmark S&P 500 stock index slightly extended modest gains on Wednesday after the U.S. Federal Reserve held interest rates steady and signaled that borrowing costs are likely to remain unchanged indefinitely.
Goldman Sachs names new head of Johannesburg office
U.S. investment bank Goldman Sachs has appointed Jonathan Penkin as head of its Johannesburg office, the bank’s base for sub-Saharan Africa where the current chief executive is retiring at the end of the year.
