The Federal Reserve kept interest rates pinned near zero on Wednesday and made a bold, new promise: to keep them there until inflation is on track to "moderately exceed" the U.S. central bank's 2% inflation target "for some time."
The Federal Reserve signaled on Wednesday it expects the U.S. economic recovery from the coronavirus crisis to accelerate with unemployment falling faster than the central bank expected in June.
Goldman Sachs Group promoted Barry O'Brien to co-chief operating officer of its global tech, telecom and media investment (TMT) banking team, according to a memo seen by Reuters on Wednesday.
Equity markets rose and the dollar firmed on Wednesday after the Federal Reserve kept interest rates near zero, as expected, and said it would continue its bond-buying program to stimulate the U.S. economy as part of a dovish policy stance.
Marco Rubio and five other Republican senators called on the Trump administration to reject a proposed deal for Oracle to become a "trusted technology provider" for popular social media platform TikTok's U.S. operations if ties to Chinese owner Bytedance remain.
White House economic adviser Larry Kudlow on Wednesday said the United States was in a "deep review process" of a deal Oracle struck with the popular video-sharing app TikTok's Chinese parent company.
The Federal Reserve kept interest rates pinned near zero on Wednesday and promised to keep them there until inflation is on track to "moderately exceed" the U.S. central bank's 2% inflation target "for some time."
Options investors are positioning for rising Treasury yields, as improving data and rising hopes for a COVID-19 vaccine fuel bets on U.S. economic growth.
Oil prices jumped more than 4% on Wednesday, following a drawdown in U.S. crude and gasoline inventories and as Hurricane Sally forced a swath of U.S. offshore production to shut.
General Electric Co's shares surged on Wednesday after Chief Executive Officer Larry Culp said the industrial conglomerate's free cash flow would turn positive in the second half of this year.
European Commission President Ursula Von der Leyen set out ambitious new climate goals for the EU on Wednesday, and also said a proposal was on the way for minimum wages. Francis Maguire reports.
Nintendo says subscriber numbers for its Switch Online service are booming, in large part thanks to the success of family-friendly game 'Animal Crossing'. Julian Satterthwaite reports.
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