Aluminum producer Alcoa tops profit estimates, shares rise
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.
Aluminum producer Alcoa posts quarterly loss on pension charge
Top U.S. aluminum producer Alcoa Corp reported a quarterly loss on Wednesday, compared with a profit a year earlier, largely due to a charge related to the transfer of its pension liabilities.
Despite Trump criticism, Fed sees need for more rate hikes
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.
U.S. environmental agency says in talks with Volvo over emissions issue
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 slips after minutes show Fed united on rate hikes
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…
Appeals court to hear U.S. Justice Department objection to AT&T deal on Dec. 6
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.
Hurricane Florence, rising mortgage rates hurt U.S. homebuilding
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.
Fed downplays policy headaches from drop in bank reserves
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. data drags oil lower; dollar up after Fed minutes
Oil prices fell on Wednesday after U.S. crude inventories rose by much more than expected and exports fell, while the dollar added to gains after minutes showed Federal Reserve policy makers largely united on the need to raise borrowing costs further.
Despite Trump criticism, Fed policymakers see need for more rate hikes
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.
