CVS Health in $48 million settlement of lawsuit over hiding loss
(Reuters) – CVS Health Corp reached a $48 million settlement of a lawsuit accusing the U.S. drugstore operator of fraudulently concealing a big loss of revenue in its pharmacy benefits manager business, culminating in a plunge in its stock price.
FedEx profit misses expectations, lowers earnings forecast
CHICAGO (Reuters) – Package delivery company FedEx Corp posted a higher quarterly profit on Wednesday, but missed Wall Street expectations due to weak global economic conditions and the strong U.S. dollar.
Weak U.S. inflation complicates Fed rate decision
WASHINGTON (Reuters) – U.S. consumer prices unexpectedly fell in August as gasoline prices resumed their decline and a strong dollar curbed the cost of other goods, pointing to tame inflation that complicates the Federal Reserve’s decision whether to h…
Exasperated U.S. appeals court tosses bigger Argentina bond class
NEW YORK (Reuters) – A U.S. appeals court on Wednesday rebuked the federal judge overseeing litigation stemming from Argentina’s sovereign debt default nearly 14 years ago, and threw out his expansion of one class action of bondholders suing the countr…
Airlines try to woo customers back to their own websites
BERLIN/NEW YORK (Reuters) – Airlines are trying to draw passengers away from low-price comparison sites and back to their own home pages, seeking to boost profits by selling them extra services such as additional legroom or access to airport lounges.
Fed hesitation, UK politics and central bank independence
LONDON (Reuters) – The era of extraordinary monetary policy and central bank dominance of macroeconomic policy may be at a critical juncture – and not just at this week’s Fed meeting in Washington.
Citigroup CFO expects 5 percent decline in third-quarter markets revenue
NEW YORK (Reuters) – Citigroup Inc expects its third-quarter markets revenue to fall by about 5 percent from a year earlier, Chief Financial Officer John Gerspach said on Wednesday.
Oil rises on U.S. stockpile drawdown ahead of Fed decision
LONDON (Reuters) – Oil rose on Wednesday after an unexpected drawdown in U.S. stockpiles and an increase in U.S. gasoline prices, but concerns remained about a global surplus, falling Asian demand and whether the Federal Reserve would raise interest ra…
Shares rise, dollar frozen ahead of Fed rate decision
LONDON (Reuters) – World share markets rose on Wednesday, albeit in thin volume, and short-term U.S. bond yields held near 4 1/2-year highs as investors braced for the possibility of the first interest rate hike in the United States in almost a decade….
OECD trims growth outlook but urges Fed action this week
PARIS (Reuters) – The global economic outlook has grown darker than it was only a few months ago, but the United States is doing well enough that its central bank should go ahead with its first rate increase since the financial crisis, the OECD said on…
