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Federal Reserve signals faster but still slow path for rate rises

Breaking Business News - 1 hour 9 min ago
WASHINGTON (Reuters) - Federal Reserve officials nudged their expected path of interest rate increases higher on Wednesday, but did little to change the outlook for a long slow climb back up to normal monetary policy.

Fed renews zero rate pledge, but hints at steeper rate hike path

Breaking Business News - 1 hour 37 min ago
WASHINGTON (Reuters) - The Federal Reserve on Wednesday renewed its pledge to keep interest rates near zero for a "considerable time," but also indicated it could raise borrowing costs faster than expected when it starts moving.

Wall Street edges higher after Fed; Dow sets record

Breaking Business News - 2 hours 6 min ago
NEW YORK (Reuters) - U.S. stocks edged higher in volatile trading on Wednesday after the U.S. Federal Reserve renewed its pledge to keep interest rates near zero for a "considerable time" and repeated concerns over slack in the labor market, standing firm against calls to overhaul its policy statement.

Exclusive: Jimmy Choo to pledge industry-beating growth in expected IPO

Breaking Business News - 2 hours 25 min ago
PARIS (Reuters) - Luxury shoe brand Jimmy Choo will seek to woo investors with a share market flotation prospectus promising industry-beating annual sales growth of more than 10 percent on the back of aggressive expansion plans in Asia and elsewhere, a source close to the deal told Reuters.

U.S. inflation surprisingly weak, Fed keeps low rates pledge

Breaking Business News - 2 hours 45 min ago
WASHINGTON (Reuters) - U.S. consumer prices fell for the first time in nearly 1-1/2 years in August and underlying inflation pressures were muted, which could lessen the urgency for the Federal Reserve to raise interest rates.

Uniqlo expects profit at U.S. stores in 'couple of years'

Breaking Business News - 2 hours 49 min ago
(Reuters) - Japanese fashion retailer Uniqlo aims to turn a profit at its small but expanding U.S. network of stores within the next couple of years, the company's top U.S. executive, Larry Meyer, said.

Pimco's head of emerging market equities Masha Gordon departs

Breaking Business News - 3 hours 20 min ago
LONDON (Reuters) - Pimco's London-based emerging market equities head Masha Gordon has left the giant U.S. asset management firm "to pursue other interests", the company confirmed on Wednesday.

IMF warns of risks from 'excessive' financial market bets

Breaking Business News - 3 hours 32 min ago
WASHINGTON (Reuters) - The global economy faces a growing risk from big financial market bets that could quickly unravel if investors get spooked by geopolitical tensions or a shift in U.S. interest rate policy, the International Monetary Fund said on Wednesday.

Apple to unveil new iPads, operating system on Oct. 21: report

Breaking Business News - 4 hours 55 min ago
(Reuters) - Apple Inc is set to launch two new iPads and release the next version of its Mac operating system at its next event on Oct. 21, a Daily Dot report said, citing sources familiar with the matter.

JPMorgan Chase replaces some cards after Home Depot hack

Breaking Business News - 5 hours 15 min ago
NEW YORK (Reuters) - JPMorgan Chase & Co is replacing some credit and debit cards following the security breach at Home Depot Inc , according to a company spokesman.

Investors seek injunction on sale of insurer by BES successor

Breaking Business News - 5 hours 19 min ago
LISBON (Reuters) - A group of bondholders of insolvent Espirito Santo Financial Group on Wednesday requested a court injunction against the sale of Portuguese insurer Tranquilidade by the successor of Banco Espirito Santo - rescued by the state last month.

Banks spend more on IT, hoping the cloud is silver-lined

Breaking Business News - 5 hours 26 min ago
GENEVA (Reuters) - Two-thirds of banks are planning to spend more on information technology this year, the highest proportion since before the start of the financial crisis, according to an annual survey published on Wednesday.

Shares in Russia's Sistema plunge with billionaire chairman under house arrest

Breaking Business News - 5 hours 51 min ago
MOSCOW (Reuters) - Shares in sprawling Russian holding company Sistema plummeted over 30 percent on Wednesday after its billionaire chairman was placed under house arrest, wiping more than $2 billion in value off the company.

Activist investor Peltz pushes DuPont to split itself

Breaking Business News - 6 hours 19 min ago
(Reuters) - Activist investor Nelson Peltz's Trian Fund Management LP urged DuPont to break itself up, saying that efforts already underway at the industrial conglomerate to shed some of its businesses were not enough to fix what it called the company's "underperformance."

FedEx sees e-commerce driving record holiday season

Breaking Business News - 6 hours 47 min ago
CHICAGO (Reuters) - Package delivery company FedEx Corp should enjoy a record holiday peak season thanks to the continued rise of online consumer sales in the United States, company officials said on Wednesday.

Cheaper store brands eat into General Mills' profit

Breaking Business News - 7 hours 59 min ago
(Reuters) - General Mills Inc reported a lower-than-expected quarterly profit as the maker of Cheerios cereal and Betty Crocker cake mixes lost further ground to cheaper store-branded foods amid rising demand for alternative breakfast options.

IPhone emerges from 'bygone era', reviewers hail bigger handset

Breaking Business News - 8 hours 17 min ago
(Reuters) - Bigger is better and Apple Inc has finally realized that and given iPhone users a product that may be low on novelty but high on improvements, reviewers wrote.

CNBC redesigns its iPad/iPhone app

Talking Biz News - 8 hours 35 min ago
CNBC rolled out a redesigned application for iPhones and iPads on Tuesday. “CNBC iOS users are the most engaged in the business and financial news category,” said Kevin Krim, general manager and senior vice...

Boeing airplanes chief says considering 52 737s a month by 2018

Breaking Business News - 8 hours 53 min ago
NEW YORK (Reuters) - Boeing Co appears increasingly likely to boost production of its top-selling 737 jetliners to 52 a month starting in 2018 after the head of its commercial airplanes business spoke about that possibility on Tuesday.

Allianz eyes sale options in Fireman's Fund revamp

Breaking Business News - 9 hours 23 min ago
FRANKFURT (Reuters) - German insurer Allianz will overhaul and may sell parts of its U.S. property and casualty business Fireman's Fund after struggling for years to bring underwriting losses under control, the company said on Wednesday.