Reuters Business Today: June 14, 2017

Click to View in Browser Wednesday, June 14, 2017 Fed raises rates, unveils balance sheet cuts in sign of confidence WASHINGTON (Reuters) - The Federal Reserve raised interest rates on Wednesday for the second time in three months and said it would begin cutting its holdings of bonds and other securities this year, signaling its confidence in a growing U.S. economy and strengthening job market. Wall St. dips after Fed rate hike; tech slumps again NEW YORK (Reuters) - A slide in technology stocks pulled down the Nasdaq Composite on Wednesday and the S&P 500 ended slightly lower, as investors worried about the pace of economic growth after weaker-than-expected inflation numbers and an interest rate hike from the Federal Reserve. GE merges power units as executive who lost out on GE CEO job retires SEATTLE (Reuters) - General Electric Co said on Wednesday it will combine its power and energy distribution businesses to create its largest unit by revenue as the top executive at GE Power announced his retirement after failing to win the conglomerate's CEO job. Morgan Stanley CEO says Saudi Arabia could be 'major opportunity' (Reuters) - Morgan Stanley CEO James Gorman said Saudi Arabia could be a "major opportunity" for the firm as the country unveiled plans for oil giant Saudi Aramco's $100 billion initial public offering and introduced a series of reforms to attract foreign capital in 2015. Uber director David Bonderman resigns from board following comment about women SAN FRANCISCO (Reuters) - Uber Technologies Inc director David Bonderman said on Tuesday that he has resigned from the company's board following a remark he made during an Uber staff meeting that was widely seen as offensive to women. Divide over listing location slows Aramco IPO: WSJ (Reuters) - Saudi Aramco's planned 2018 public share offering is being slowed down by a divide between Saudi Arabia's ruling family and executives of the kingdom's state oil company over where to list its shares, the Wall Street Journal reported on Wednesday. Exclusive: SeaWorld shareholders vote to remove chairman NEW YORK (Reuters) - SeaWorld Entertainment Inc shareholders voted against the re-election of Chairman David D'Alessandro, according to people familiar with the matter, amid concerns about a special bonus payout to company officials. Avon CEO expected to step down: WSJ (Reuters) - Avon Products Inc Chief Executive Sheri McCoy is expected to step down, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. U.S. regulators still reviewing Fiat Chrysler diesel vehicle fix: lawyer WASHINGTON (Reuters) - A U.S. Justice Department lawyer said at a court hearing on Wednesday it could take "weeks or months" before regulators decide whether to approve a software fix for Fiat Chrysler Automobiles NV diesel vehicles. Volkswagen to offer EU diesel car owners extended warranty but no money back: EC BRUSSELS (Reuters) - Volkswagen has agreed to offer an extra two-year guarantee to European owners of its diesel cars but no compensation in talks with Europe's consumer affairs chief over its cheating on emissions tests, a European Commission spokesman said on Wednesday. Related Video Breakingviews TV: Uber and out Roaming charges scrapped in Europe Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today News you can use with actionable, timely advice for managing your financial life, including retirement, taxes, real estate, education and more. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook