Wednesday 26 September 2018

Fed raises rates, sees at least three more years of economic growth

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Fed raises rates, sees at least three more years of economic growth

The U.S. Federal Reserve raised interest rates on Wednesday and left intact its plans to steadily tighten monetary policy, as it forecast that the U.S. economy would enjoy at least three more years of growth.

Fed lifts U.S. rates by quarter percentage point

The U.S. Federal Reserve raised interest rates on Wednesday, as expected, and left its monetary policy outlook for the coming years largely unchanged amid steady economic growth and a strong job market.

Papa John's asks potential acquirers to submit offers: sources

Papa John's International Inc , the world's third-largest pizza delivery company, has reached out to potential acquirers to ask them to submit offers, people familiar with the matter said on Wednesday.

Amazon to open new retail store in New York City in latest brick-and-mortar push

Amazon.com Inc on Wednesday said it is opening a store in New York City that will sell products ranging from card games to skillets that are highly rated on its website, in the company's latest push into brick-and-mortar retail.

Wall Street ends lower after late sell-off of gains

A Wall Street rally collapsed late on Wednesday as investors reduced their risk, following a widely expected interest rate hike by the U.S. Federal Reserve.

BlackRock's Rieder differs from 'consensus' on future U.S. rates

Top BlackRock Inc bond investor Rick Rieder said on Wednesday the U.S. Federal Reserve will raise rates only twice "or so" in 2019, countering what he called an "excessive" expectation by investors.

GM's Cadillac to leave Big Apple, return to Michigan roots

General Motors Co said on Wednesday that Cadillac will switch its headquarters back to Michigan from New York after just three years to be closer to engineers and design teams as the luxury brand plans to roll out two new vehicles annually through 2020.

Merck's Frazier to remain CEO of the U.S. drugmaker beyond 2019

Merck & Co Inc Chief Executive Officer Kenneth Frazier will remain in the role beyond 2019, the drugmaker said on Wednesday, after it scrapped a policy requiring its CEOs to retire at the age of 65.

Tech companies back U.S. privacy law if it preempts California's

Major technology companies and internet service providers told a U.S. Senate panel on Wednesday they support federal legislation to protect data privacy but want Congress to preempt tough new rules adopted by California.

Wall Street adds to gains, dollar higher, after Fed rate hike

Wall Street extended gains on Wednesday, while the dollar dipped but then recovered, after the U.S. Federal Reserve raised interest rates, as expected, and flagged the end of "accommodative" monetary policy.

Nike shares dip after forecast disappoints

Nike shares fell as much as 3 percent on Wednesday after the company disappointed Wall Street by not raising its full-year forecast following a sales boost from its Colin Kaepernick ad campaign.

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