 | | | | Federal Reserve Chair Jerome Powell boosted U.S. stock markets on Wednesday when he said the policy rate is now "just below" estimates of a level that neither brakes nor boosts a healthy economy, comments that many took as signaling the Fed's three-year tightening cycle is drawing to a close. | | | | | | Federal Reserve Chair Jerome Powell on Wednesday appeared to signal the U.S. central bank is nearing an end to its interest-rate hikes, saying the Fed's policy rate is now "just below" a level that neither brakes nor boosts a healthy economy. | | | | | | Apple Inc's iPhone XR has been the company's best-selling iPhone model every day since it went on sale in mid-October, a company executive told Reuters on Wednesday. | | | | | | U.S. fund Pacific Investment Management Co (Pimco) has bought all of a $3 billion, five-year bond offered with a hefty return by Italy's top bank UniCredit to comply with capital buffer rules, two sources familiar with the matter said. | | | | | | The U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration's 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter. | | | | | | Sears Holdings Corp Chairman Eddie Lampert's hedge fund and Cyrus Capital Partners LP are preparing a potential takeover bid to keep the bankrupt retailer running, Bloomberg reported on Wednesday. | | | | | | Comments by U.S. Federal Reserve Chair Jerome Powell that interest rates were "just below" neutral propelled Wall Street higher on Wednesday, easing investor worries about the pace of interest rate hikes next year. | | | | | | Microsoft Corp's stock market value surpassed Apple Inc's , pulling ahead by as much as $3 billion on Wednesday as the Windows software maker benefited from optimism about demand for cloud computing services. | | | | | | General Motors Co's monumental announcement on Monday that it will close three car assembly plants in North America and slash its workforce will only partially close the gap between capacity and demand for the automaker's sedans, according to a Reuters analysis of industry production and capacity data. | | | | | | General Motors Co and fellow Detroit automakers Ford Motor Co and Fiat Chrysler Automobiles NV continue to winnow production of cars in North America as demand for traditional sedans wanes. GM announced on Monday it will halt production at three North American assembly plants and slash thousands of jobs. | | | | | | President Donald Trump on Wednesday retweeted a suggestion that General Motors Co should pay back the money the government spent to keep it afloat as part of the auto industry bailout if it doesn't keep jobs in the country. | | | | | |
