Fed raises rates, signals confidence in strengthening economy
WASHINGTON (Reuters) – The Federal Reserve raised interest rates on Wednesday and forecast at least two more hikes for 2018, signaling growing confidence that U.S. tax cuts and government spending will boost the economy and inflation and lead to more a…
U.S. top trade diplomat says ‘nobody wins’ trade war but readies China action
WASHINGTON (Reuters) – America’s top trade diplomat is readying a mix of tariffs on Chinese imports and investment restrictions to punish Beijing for its alleged theft of U.S. intellectual property if President Donald Trump gives the go-ahead, a move t…
UBS in $230 million settlement of New York mortgage securities probe
NEW YORK (Reuters) – UBS AG has reached a $230 million settlement to resolve charges brought by New York state that it misled and hurt investors by selling subprime mortgage securities that contributed to the 2008 global financial crisis.
Facebook and UK political consultancy sued in data storm
NEW YORK/LONDON (Reuters) – A U.S. resident has sued Facebook and a British-based political consultancy for obtaining data from millions of the social media site’s users without their permission, while an academic at the center of the storm accused bot…
Record-size U.S. offshore oil lease sale draws modest bidding
(Reuters) – The largest lease sale in American history in the offshore Gulf of Mexico yielded $124.76 million dollars in winning bids from drillers on Wednesday, a modest response to the Trump administration’s effort to pump up investment in the region…
Tesla shareholders approve CEO Musk’s $2.6 billion compensation plan
SAN FRANCISCO/BOSTON (Reuters) – Shareholders of electric car company Tesla Inc approved a compensation package potentially worth $2.6 billion for Chief Executive Officer Elon Musk on Wednesday, though by a lower margin than U.S. CEOs typically receive…
UBS reaches $230 million settlement with New York over mortgage securities
NEW YORK (Reuters) – UBS AG has reached a $230 million settlement to resolve charges brought by New York state that it misled and hurt investors by selling risky mortgage securities that contributed to the 2008 global financial crisis.
U.S. set for China tariffs by Friday as trade diplomat says has tools
WASHINGTON (Reuters) – President Donald Trump will likely announce tariffs on Chinese imports by Friday, a source in the administration said, as the top U.S. trade diplomat told lawmakers he had the tools to strike back over Chinese theft of U.S. tech …
Energy stocks, Facebook help Wall Street higher ahead of Fed decision
(Reuters) – Wall Street gained late on Wednesday morning, ahead of an imminent U.S. interest rate hike, as Facebook Inc’s shares reversed course to trade higher and energy stocks got a boost from surging oil prices.
What a Federal Reserve rate hike means for U.S. households
NEW YORK (Reuters) – The effects of the expected Federal Reserve interest rate hike on Wednesday will extend beyond corporate America to household budgets.
