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Updated: 31 min 16 sec ago

Fed sees no rate hikes in 2019, plans balance sheet reduction slowdown

Wed, 03/20/2019 - 21:41
The Federal Reserve took a sharply less aggressive policy posture on Wednesday, signalling it will not hike interest rates this year amid a slowing economy and announcing a plan to end its balance sheet reduction programme by September.

Exclusive: Philadelphia Energy Solutions executives depart amid financial woes

Wed, 03/20/2019 - 21:36
Senior executives at Philadelphia Energy Solutions (PES) left amid a broader management overhaul at the East Coast refiner, which continues to struggle financially, three sources familiar with the matter said on Wednesday.

U.S. oil prices rise above $60 a barrel on tightening supply

Wed, 03/20/2019 - 21:29
U.S. crude prices rose on Wednesday to a 4-month high above $60 a barrel after U.S. government data showed tightening domestic oil supplies, but gains were capped by concerns over global economic growth due to the ongoing U.S.-China trade war.

Global Markets - Shares tick up with Fed boost; oil hits four-month peak

Wed, 03/20/2019 - 21:27
Stocks across the world fought to extend their longest winning streak of the year on Wednesday, with a global index edging up as a boost from a dovish Federal Reserve more than offset concerns over U.S.-China trade talks.

Palladium scales new peak; gold up as Fed leaves rates steady

Wed, 03/20/2019 - 21:02
Palladium hit an all-time high on Wednesday on concerns over tight supplies of the autocatalyst metal, while gold reversed course to rise after the U.S. Federal Reserve kept interest rates unchanged.

Deutsche Bank merger talks heighten uncertainty for U.S. staff

Wed, 03/20/2019 - 20:54
Deutsche Bank AG's merger talks with Commerzbank AG have put its 10,000 U.S. workers on edge, three employees told Reuters, with some concerned a deal could pressure Deutsche to further shrink or even dispose of its U.S. businesses.

S&P 500, Nasdaq reverse losses after Fed says no further hikes in 2019

Wed, 03/20/2019 - 20:29
The S&P 500 and the Nasdaq reversed earlier losses, gaining ground after the U.S. Federal Reserve concluded its two-day policy meeting by holding a key interest rate steady and affirming its dovish monetary policy stance.

Euro zone bond markets wait patiently for Powell

Wed, 03/20/2019 - 20:14
Core euro zone bond yields fell on Wednesday from 1-1/2 week highs hit earlier this week as the market waited for further clarity on the direction of U.S. interest rates and analysts struggled to make sense of the UK's Brexit negotiations.

Samsung Electronics sees green shoots in China smartphone business: co-CEO

Wed, 03/20/2019 - 20:12
Samsung Electronics Co Ltd said on Wednesday its new Galaxy flagship smartphones were selling well in China and it was confident it could reverse the recent slump in its fortunes in the world's biggest smartphone market.

Starbucks sets up $100 million fund to invest in food and retail startups

Wed, 03/20/2019 - 20:00
Starbucks Corp is investing $100 million in a newly created fund that will be managed by Tesla Inc investor Valor Equity Partners to promote companies developing new technologies and products for the food and retail industry.

U.S. mortgage requests hit two-month peak as loan rates fall

Wed, 03/20/2019 - 19:51
U.S. mortgage applications for buying or refinancing a home climbed to a two-month high last week, as home borrowing costs fell to their lowest in over a year, data from the Mortgage Bankers Association showed on Wednesday.

EU leaders to warn of cyber, fake news threat to May elections

Wed, 03/20/2019 - 19:43
By Alissa de Carbonnel, Alastair Macdonald and Jean-Baptiste Vey

Vodafone to receive EU warning over $22 billion Liberty deal: sources

Wed, 03/20/2019 - 19:41
Vodafone will receive a warning from EU regulators about possible anti-competitive effects from its $22 billion deal to buy Liberty Global's German and eastern European assets, two people familiar with the matter said on Wednesday.

Pfizer buys stake in French gene therapy firm Vivet

Wed, 03/20/2019 - 19:37
Pfizer Inc said on Wednesday it acquired a 15 percent stake in Vivet Therapeutics, as well as an exclusive option to fully acquire it, a deal that will give it access to the French company's experimental gene therapy for a rare genetic disorder called Wilson disease.

FedEx cuts profit forecast again on economy, Express woes

Wed, 03/20/2019 - 19:24
FedEx Corp on Tuesday cut its 2019 profit forecast for the second time in three months, sending its shares down more than 5 percent and fuelling fresh worries it is losing ground to delivery rivals such as United Parcel Service Inc and Deutsche Post DHL Group.

Trump says trade deal 'coming along nicely' with China

Wed, 03/20/2019 - 19:22
U.S. President Donald Trump said on Wednesday a trade deal with Beijing is coming along nicely, with U.S. trade negotiators going to China next week for another round of talks.

Google fined $1.7 billion for search ad blocks in third EU sanction

Wed, 03/20/2019 - 19:17
Google was fined 1.49 billion euros ($1.7 billion) on Wednesday for blocking rival online search advertisers, the third large European Union antitrust penalty for the Alphabet business in only two years.

'No-one is breaking out the champagne': EM investors treading carefully

Wed, 03/20/2019 - 19:09
After ploughing billions into emerging market equities since October, investors have started to show signs of hesitation, but an uptick in earnings expectations should reassure those hoping to capitalise on stronger economic growth in the emerging world.

Boeing names leadership for new joint venture with Embraer

Wed, 03/20/2019 - 19:08
Boeing Co on Wednesday named two executives to lead a new company to be created after a proposed $4.2 billion deal with Brazilian planemaker Embraer closes.

'Golden cross' for stocks doesn't always glitter

Wed, 03/20/2019 - 18:45
The Dow Jones Industrial Average triggered a technical signal on Tuesday that many investors believe could portend more gains for stocks in the short term, known as the golden cross.