 | | | | The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and laid out an aggressive plan to push borrowing costs to restrictive levels by next year as concerns about high inflation and the war in Ukraine overtook the risks of the coronavirus pandemic. | | | | | | The S&P 500 closed higher on Wednesday after some choppy trading following the U.S. Federal Reserve's interest rate increase and its signal that more hikes would be needed to fight inflation, putting an end to the pandemic-era easy monetary policy. | | | | | | U.S. homebuilder Lennar Corp posted a 49.7% fall in quarterly profit on Wednesday, as stressed supply chain and shortage of raw materials weighed on deliveries of homes. | | | | | | Federal Reserve policymakershave made "excellent progress" on their plan for reducing the central bank's nearly $9 trillion balance sheet, and could finalize details at their next policy meeting in May, Fed Chair Jerome Powell said on Wednesday. | | | | | | Germany's Thyssenkrupp on Wednesday suspended its 2021/22 forecast for free cash flow before mergers and acquisitions for due to the Ukraine crisis and said it was unclear if it would still be able to spin off its steel division. | | | | | | Mexico should enact a series of reforms to boost the country's low productivity, the World Bank said in a report released on Wednesday. | | | | | | At least 10 vessels carrying Russia-linked cargoes of crude and refined products were approaching the United States on Wednesday, as suppliers rushed to deliver ahead of the U.S. government's deadline to wind down Russian energy purchases, data from traders and Refinitiv Eikon showed. | | | | | | France will end government subsidies for the installation of new residential gas heaters and boost support for renewable energy heating in a bid to further reduce reliance on Russian fossil fuel exports, the environment minister said on Wednesday. | | | | | | There is a possibility of replacing Petrobras' chief executive, Brazil's President Jair Bolsonaro said on Wednesday, adding further pressure to the state-run oil company's pricing policy. | | | | | | Chipmaker Qualcomm Inc said on Wednesday it has stopped selling its products to Russian companies in compliance with U.S.-imposed sanctions after Moscow invaded Ukraine. | | | | | |
