Fed minutes leave questions on balance sheet, patience
Federal Reserve policymakers on Wednesday gave little sense of how long their “patient” stance on U.S. interest rate policy would last, and while promising “before too long” a plan for their $4 trillion balance sheet, left unclear what that plan would …
Oil settles 1 percent higher on hopes of market rebalance, trade deal
Crude prices rose more than 1 percent on Wednesday to their highest level this year on hopes that oil markets will balance later this year, helped by output cuts from top producers as well as U.S. sanctions on OPEC members Iran and Venezuela.
Wall Street trades lower after Fed minutes
U.S. stocks turned lower in volatile trade on Wednesday after the release of the Federal Reserve’s minutes from its January meeting, when the U.S. central bank said it would be “patient” with respect to further interest rate hikes.
Samsung announces Galaxy Fold phone with apps from Facebook, Google
Samsung Electronics Co Ltd on Wednesday said it will release a pricey folding smart phone in April, with specially adapted applications from Facebook Inc and Alphabet Inc designed for the new device.
Fed policymakers saw little risk from patient stance: minutes
Federal Reserve policymakers thought pausing on U.S. interest rate hikes last month posed little risk and plenty of benefit, minutes from their Jan. 29-30 meeting showed, giving them time to assess the effects of a global slowdown and the Fed’s rate hi…
Oil rises more than 1 percent on hopes of market rebalance, trade deal
Crude prices rose more than 1 percent on Wednesday to their highest this year, on hopes that oil markets will balance later this year, helped by output cuts from top producers as well as U.S. sanctions on OPEC members Iran and Venezuela.
UBS CEO says French appeals process to take ‘several years’
UBS Group expects its appeal of a French court verdict ordering the Swiss bank to pay 4.5 billion euros ($5.10 billion) for aiding tax evasion to last years, Chief Executive Sergio Ermotti told staff in a memo.
Volkswagen’s Audi to cut 10 percent of management positions: CEO in Handelsblatt
Volkswagen’s premium auto brand Audi plans to eliminate one layer of management or about 10 percent of the division’s executive positions in a cost cutting drive, the unit’s chief executive told daily Handelsblatt.
Buffett’s Suncor bet to revive investor interest in Canadian energy
Berkshire Hathaway Inc’s re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said.
Renault’s outlook cut to ‘negative’ by rating agency Standard & Poor’s
Credit rating agency Standard & Poor’s cut its outlook on carmaker Renault to “negative” from “stable”, citing broader challenges within the automotive sector that could hit its profits.
