Major U.S. banks raise prime rates after Fed rate hike
(Reuters) – Major U.S. banks raised their prime rates, a benchmark for a wide range of consumer and commercial loans, for the first time since 2006 on Wednesday, following a rate hike from the Federal Reserve.
Fed aggressively ramps up new tool to pry rates higher
NEW YORK (Reuters) – The Federal Reserve aggressively expanded a new policy tool to help it raise U.S. interest rates from near zero, saying on Wednesday it anticipated about $2 trillion in bids for a facility to help mop up excess cash in financial ma…
Equities higher, dollar falls after Fed statement
NEW YORK (Reuters) – Global equity markets rallied in volatile trade while the dollar lost ground on Wednesday after the U.S. Federal Reserve announced it would raise interest rates for the first time in nearly a decade.
Fiat Chrysler buys Tesla, Toyota, Honda emissions credits
WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV, which lags the auto industry in fuel efficiency, purchased U.S. greenhouse gas emissions credits from rival automakers Toyota Motor Corp, Tesla Motors Inc and Honda Motor Co, a government report rele…
Oil drops 3 pct as U.S. supplies swell, Fed hikes rates
NEW YORK (Reuters) – Oil fell more than 3 percent on Wednesday, snapping a two-day rebound after U.S. government data showed a surprise weekly build in crude inventories and the Federal Reserve raised interest rates for the first time in nine years.
U.S. housing data signals economic strength; manufacturing weak
WASHINGTON (Reuters) – U.S. housing starts in November rebounded from a seven-month low and permits surged to a five-month high, signs of strength in the housing market as the Federal Reserve starts hiking interest rates after years of easy monetary po…
What the Fed rate hike means to you, and your wallet
LOS ANGELES (Reuters) – For everyone who has been saying interest rates can only go up, well – now is their time. But what does the Federal Reserve’s decision to raise interest rates actually mean for your wallet?
Mystery Santas pay for $484,000 in U.S. shoppers’ Walmart purchases
CLEVELAND (Reuters) – Secret Santas gave an early Christmas gift to shoppers at Walmart stores in three states by anonymously paying off $484,000 they owed on holiday purchases set aside with the retailer.
Valeant says can contain hit to dermatology, projects 2016 growth
(Reuters) – Drugmaker Valeant Pharmaceuticals International Inc on Wednesday said that fourth-quarter profit was hit when it cut ties with pharmacy Philidor Rx Services, but that it could contain the damage next year and grow profit.
Black presence on U.S. boards shrinks, hedge funds cited by some
BOSTON (Reuters) – African-Americans have become a shrinking presence in the boardrooms of the biggest U.S. companies in recent years, setting back a push by pension funds for greater diversity.
