Boeing wins contract to build new Air Force One presidential jets
WASHINGTON (Reuters) – Boeing Co has won a contract to start preliminary work on a new fleet of Air Force One presidential aircraft based on its 747-8 jumbo jet, the Pentagon said on Friday.
Fed’s Williams says sees ‘smidgen’ slower rate hikes
SAN FRANCISCO (Reuters) – The Federal Reserve probably needs to keep U.S. interest rates lower for longer given headwinds from weak global economic growth, a stronger dollar and an unexpectedly sustained drop in oil prices, a top Fed official suggested…
Fed is clearly on a path of returning rates to normal: Williams
SAN FRANCISCO (Reuters) – The Federal Reserve is clearly on a path of returning interest rates to a normal level of 3 percent to 3.5 percent over the next few years, a top Federal Reserve official said on Friday.
Oil rises, pares losses in January on hopes for production deal
NEW YORK (Reuters) – Oil prices rose on Friday, rebounding more than 25 percent from 12-year lows hit last week and cutting losses for the month, on prospects of a deal between major exporters to cut production and curb one of the biggest supply gluts …
Wall Street surges at end of awful January
(Reuters) – Wall Street surged over 2 percent on Friday after the Bank of Japan unexpectedly cut interest rates and Microsoft led a major rally in technology shares, repairing some of the damage to the S&P 500’s worst January since 2009.
Boeing 737 MAX jet successfully completes first flight
(Reuters) – Boeing Co’s 737 MAX aircraft completed its first flight on Friday, taking off from rain-slick tarmac and conducting tests for about three hours before landing safely at Boeing Field in Seattle.
El-Erian says countries weakening currencies in fight for global growth
NEW YORK (Reuters) – Mohamed El-Erian, the chief economic advisor at Allianz, said on Friday the Bank of Japan’s shocking move to take one of its main interest rates into negative territory underscored the country’s hope to weaken the yen to re-inflate…
GM pitches new product strategy to skeptical investors
DETROIT (Reuters) – General Motors Co executives used to boast about how frequently the company redesigned cars and trucks. Now, the automaker wants to double the lifespan of vehicle platforms as part of a broader effort to slash and redirect capital s…
U.S. economy hits soft patch in fourth quarter as inventories, trade weigh
WASHINGTON (Reuters) – U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports.
Xerox to split into two companies, Icahn to get board seats on one
(Reuters) – Xerox Corp will split into two companies, one holding its legacy printer operations and the other its business process outsourcing unit, it said on Friday, in a bid to be more nimble after years of trying to integrate the businesses.
