Fed’s Powell defends policy of gradual interest rate hikes
Federal Reserve Chairman Jerome Powell on Friday defended the U.S. central bank’s push to raise interest rates as healthy for the economy and signaled more hikes were coming despite President Donald Trump’s criticism of higher borrowing costs.
U.S. calls foreign mail system unfair in surprise win for Amazon
The U.S. State Department on Friday said it would push for foreign postal carriers to pay the U.S. Postal Service more to deliver small parcels within the United States, taking up a longtime complaint by Amazon.com , UPS and others who have alleged th…
Wall St. rallies as Powell stays on rate-hike course
The S&P 500 and the Nasdaq hit new record highs on Friday after Federal Reserve Chairman Jerome Powell affirmed U.S. economic strength and said the central bank’s gradual interest rate hikes were the best way to protect the economic recovery.
UK auditors, watchdog to discuss curbs on Big Four market share
Britain’s top accountants will meet with competition regulators next week to discuss limiting the “Big Four” auditors’ market share after lawmakers called for them to be broken up.
As big firms get bigger, rate cuts may pack less punch: study
Low interest rates may do less to boost business spending in today’s economy than in years past because the big companies that now dominate many industries tend to use their money on intangibles that do not get cheaper as borrowing costs fall.
Global stocks rally after Powell speech, oil prices surge
Global equity market rose on Friday after Federal Reserve Chairman Jerome Powell expressed no surprises in a key speech outlining a steady course for monetary policy, while oil prices surged on signs Iran sanctions may constrain worldwide supply.
Cigna, Express Scripts shareholders approve $52 billion deal
Cigna Corp shareholders on Friday voted in favor of the health insurer’s proposed $52 billion acquisition of pharmacy benefit manager Express Scripts Holding Co , although the deal still needs clearance from antitrust authorities.
Fed chief Powell defends policy of gradual rate hikes
Federal Reserve Chairman Jerome Powell on Friday defended the U.S. central bank’s push to raise interest rates as healthy for the economy and signaled more hikes were coming despite President Donald Trump’s criticism of higher borrowing costs.
S&P, Nasdaq hit record as Powell stays on rate-hike course
The benchmark S&P 500 and the Nasdaq hit all-time highs on Friday after Federal Reserve Chair Jerome Powell said the central bank’s current approach to interest rate hikes were the best way to protect the U.S. economic recovery.
Papa John’s taps investment banks amid pressure from founder: sources
Papa John’s International Inc , the world’s third-largest pizza delivery company, has hired Bank of America Corp and Lazard Ltd to help find ways to stabilize the restaurant chain, which has come under pressure from its founder John Schnatter, people familiar with the matter said on Friday.
