By Herbert Lash NEW YORK (Reuters) – U.S. stocks rallied and Treasury yields fell on Wednesday after the Federal Reserve raised interest rates by 50 basis points as expected and said it would begin to reduce its balance sheet in June in a decision seen as less hawkish than some feared. The U.S. central bank…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years, and the U.S. central bank’s chief made a direct appeal to Americans struggling with high inflation to hang tough while officials take the hard measures…
NEW YORK (Reuters) – The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years, and said it would begin trimming its bond holdings next month as a further step in the battle to lower inflation. The U.S. central bank set its target federal…
SACRAMENTO, Calif. (AP) — California, which has a economy larger than all but four countries and where much of the world’s technological innovation is born, on Wednesday became the first state to formally begin examining how to broadly adapt to cryptocurrency and related innovations. Following a path laid out by President Joe Biden in March,…
By Herbert Lash NEW YORK (Reuters) -U.S. stocks initially rose and Treasury yields trimmed gains on Wednesday after the Federal Reserve raised interest rates by 50 basis points as expected and said it would begin to reduce its balance in June. The U.S. dollar slid against the Japanese yen while the euro and Canadian dollar…
WASHINGTON (AP) — Record-low mortgages below 3% are long gone. Credit card rates will likely rise. So will the cost of an auto loan. Savers may finally receive a yield high enough to top inflation. The substantial half-point hike in its benchmark short-term rate that the Federal Reserve announced Wednesday won’t, by itself, have much…
WASHINGTON (AP) — The Federal Reserve intensified its fight against the worst inflation in 40 years by raising its benchmark interest rate by a half-percentage point Wednesday — its most aggressive move since 2000 — and signaling further large rate hikes to come. The increase in the Fed’s key short-term rate raised it to a…
LONDON (Reuters) -Standard Chartered’s pay plans for top executives were approved by shareholders on Wednesday, but a sizeable minority of investors voted against the plans, after concerns were raised ahead of the bank’s annual investor meeting. The emerging markets-focused bank had been braced for a potential rebellion after influential shareholder proxy advisers ISS and Glass…
(Reuters) – Multinationals that announced their exit from Russia, or suspension of activities there, after Moscow’s invasion of Ukraine on Feb. 24 have started to report associated losses. These are firms, listed by sector, that have provided cost estimates related to a temporary or permanent halt in Russia: APPAREL ADIDAS The German sportswear company warned…
MEXICO CITY (Reuters) – Japanese automaker Nissan Motor Co said on Wednesday it will invest more than $700 million in Mexico during the next three years to boost its operations in the country. The investment is set to improve the facilities, equipment and automation procedures in Nissan’s facility located in the state of Aguascalientes, the…
