Fed surprises, sticks to stimulus as it cuts growth outlook
WASHINGTON (Reuters) – The U.S. Federal Reserve defied investor expectations on Wednesday by postponing the start of the wind down of its massive monetary stimulus, saying it wanted to wait for more evidence of solid economic growth.
White House official says Yellen front-runner for Fed chief
WASHINGTON (Reuters) – A White House official said on Wednesday that Federal Reserve Vice Chair Janet Yellen was front-runner for the top job at the U.S. central bank when Ben Bernanke steps down, a shift in strategy after former economic adviser Lawre…
Asian shares jump, yields & dollar fall as Fed stuns
SYDNEY (Reuters) – Asian shares and currencies looked set to surge on Thursday after the U.S. Federal Reserve stunned markets and decided not to taper its asset-buying program, sending U.S. bond yields and the dollar into a tailspin.
Dow, S&P 500 end at record highs as Fed leaves stimulus intact
NEW YORK (Reuters) – U.S. stocks rallied to record highs on Wednesday after the Federal Reserve, in a surprise to markets, decided against scaling back a stimulus program that has helped fuel Wall Street’s rally of more than 20 percent this year.
World Bank political risk arm looks to back equity investors
WASHINGTON (Reuters) – The World Bank’s political risk insurance arm wants to bring in more private equity investors, particularly those who focus on companies that can bring skills and create jobs in the developing world, the new head of the agency sa…
CME Group ex-CEO named chairman of U.S. options clearinghouse
CHICAGO (Reuters) – The clearinghouse for all U.S. stock options on Wednesday named Craig Donohue, former chief executive officer for CME Group Inc, as its new executive chairman.
Power veteran Posoli returns to JPMorgan to advise on commodities sale
NEW YORK (Reuters) – Power market veteran Paul Posoli has returned to JPMorgan Chase & Co. after a year-long sabbatical to help advise on the bank’s sale of its physical commodities business, according to an internal bank memo.
Affordability is R&D focus for arms industry: executives
NATIONAL HARBOR, Maryland (Reuters) – The single biggest driver for research and development in the U.S. arms industry is not a hot area like unmanned weapons, cyberspace, or surveillance, but the need to make systems affordable, executives and defense…
New York awards commuter railcar contract worth up to $1.8 billion
(Reuters) – New York plans to spend up to $1.83 billion to build hundreds of electric commuter railcars at a plant in Yonkers that is expected to employ as many as 1,500 people, Governor Andrew Cuomo announced on Wednesday.
Lufthansa may order up to 34 revamped Boeing 777s: sources
(Reuters) – Deutsche Lufthansa looks poised to place an order for up to 34 revamped Boeing 777-9X passenger planes as part of a fleet overhaul to be unveiled on Thursday, two people familiar with the matter said.
