Fed officials again flag December; see smooth rates liftoff
NEW YORK (Reuters) – Federal Reserve officials on Wednesday continued to flag December as a likely time for interest rates to rise after seven years near zero, with two expressing confidence they will be able to pull it off smoothly despite fears of an…
Lowe’s sales top estimates amid strengthening U.S. housing market
(Reuters) – Lowe’s Cos Inc followed larger rival Home Depot Inc in reporting better-than-expected quarterly profit and same-store sales, and the company said it expects higher spending on home improvement to continue until 2017 at least.
Oil down as U.S. stockpiles near record highs
NEW YORK (Reuters) – Oil fell as much as 1 percent on Wednesday, with U.S. crude snapping the $40-a-barrel support, as traders looked beyond a mildly positive report on U.S. crude inventories to focus instead on a global supply glut.
Target’s online sales growth slows; margins pressured
CHICAGO (Reuters) – Target Corp faces margin pressure and will not meet its fiscal-year forecast for online sales growth, which slowed in the latest quarter, the discount retailer said on Wednesday, sending its shares down more than 5 percent.
Norfolk Southern hostile to Canadian Pacific’s $28.4 billion bid
(Reuters) – U.S. railroad operator Norfolk Southern Corp all but rejected a $28.4 billion acquisition offer by Canadian Pacific Railway Ltd on Tuesday, calling it “low-premium” and warning it would face significant regulatory hurdles.
Valeant to offer cash, stock to keep staff after turmoil
(Reuters) – Valeant Pharmaceuticals International Inc will likely offer cash and stock incentives to more key U.S. staff as it aims to avoid mass departures from the heavily scrutinized company, a spokeswoman said on Wednesday.
Markets now calmed, Fed should soon raise U.S. rates – Lockhart
NEW YORK (Reuters) – Global financial markets have settled since the August turmoil that caused the U.S. Federal Reserve to delay raising rates, so that it will soon be appropriate to make the policy change, Atlanta Fed President Dennis Lockhart said o…
Square IPO set to price Wednesday in highly watched deal
SAN FRANCISCO (Reuters) – Mobile payments company Square Inc is set to price shares for its initial public offering late Wednesday in what is expected to be a harbinger for how other highly valued tech companies are received in their public debuts.
More work to ensure large banks can be wound down: Fed’s Dudley
NEW YORK (Reuters) – More work remains to ensure the world’s largest banks can be safely wound down in a crisis, including making the legal structure of their various entities more simple and rational, a top Federal Reserve policymaker said on Wednesda…
Security jitters drive European investors back to safe havens
LONDON (Reuters) – European investors edged back into safer assets on Wednesday as a shootout between French police and militants suspected of involvements in the Paris attacks kept the market focused on international security issues.
