U.S. housing starts, building permits scale 12-year high
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.
Wall Street sinks after Fed gives mixed signals on next move
Wall Street sank on Wednesday when Federal Reserve policy makers gave mixed signals about their next move after cutting interest rates by a quarter of a percentage point in a widely expected move.
GM to temporarily lay off 1,200 workers in Canada
General Motors Co said on Wednesday it plans to temporarily lay off about 1,200 workers at its Oshawa assembly plant in Canada, which makes the Chevy Silverado and GMC Sierra pickup trucks.
Fed makes small changes in bid to better control policy rate
The Federal Reserve on Wednesday tweaked two key rates used to manage its main policy lever, but stopped short of additional bond purchases some investors anticipated.
FOMC statement from Sept 17-18 meeting
Following is the full text of the statement released by the Federal Reserve’s Federal Open Market Committee on Wednesday following a two-day meeting:
Five ways the Fed’s rate cut could affect consumers
The Federal Reserve’s decision to cut interest rates on Wednesday for the second time this year could have wide-ranging implications for consumers’ wallets.
UTC technology chief Paul Eremenko steps down
The chief technology officer of United Technologies Corp , Paul Eremenko, has stepped down, just under two years after moving to the U.S. conglomerate from Europe’s Airbus .
U.S. trade groups urge Congress to rein in ‘Tariff Man’ Trump
Nearly two dozen U.S. lobbying groups have joined forces to try to rein in U.S. President Donald Trump’s power to unilaterally impose tariffs amid growing concern about the negative economic impact of his trade policies.
Fed pumps more cash as key rate breaks above target
The Federal Reserve injected another $75 billion into the U.S. banking system on Wednesday, restoring a measure of order after a bout of extreme volatility inside the bank funding market drove the central bank’s benchmark interest rate above its target…
Banker tells German court of ‘vast network’ at center of fraud trial
A banker at the center of a trading scheme German prosecutors say resulted in hundreds of millions of euros of illegitimate tax rebates told a court the scheme had taken on an “industrial scale” involving a network of banks and other institutions.
