Page 1698 - Business Finance
Volkswagen's Seat brand to develop electric car platform in China with JAC
FRANKFURT (Reuters) - Volkswagen's Spanish Seat brand said it will develop an electric car platform together with China's Anhui Jianghuai Automobile Group Corp., Ltd (JAC), as part of a broader Asian expansion push.
Fed's Powell, in dovish shift, says rates near neutral
NEW YORK (Reuters) - Federal Reserve Chair Jerome Powell on Wednesday appeared to signal the U.S. central bank is nearing an end to its interest-rate hikes, saying the Fed's policy rate is now "just below" a level that neither brakes nor boosts a healthy economy.
Gold gains as U.S. dollar weakens after cautious Fed speech
(Reuters) - Gold prices rose as much as 1 percent on Wednesday from two-week lows as the U.S. dollar tumbled after Federal Reserve Chairman Jerome Powell indicated that interest rates were near normal, soothing investor worries over the pace of rate hikes.
British banks withstand disorderly Brexit in Bank of England test
LONDON (Reuters) - All seven British banks and building societies in this year's Bank of England stress test passed, indicating they could withstand a disorderly Brexit without having to curb lending.
Cloud software stocks rise after upbeat Salesforce results
(Reuters) - Shares of cloud software makers rose on Wednesday after Salesforce.com Inc's upbeat quarterly earnings boosted Wall Street's expectations for the fast-growing sector that came under pressure in the recent selloff in technology stocks.
U.S. third-quarter growth unrevised, headwinds increasing
WASHINGTON (Reuters) - The U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration's 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter.
Microsoft's stock market value pulls ahead of Apple's
SAN FRANCISCO (Reuters) - Microsoft Corp's stock market value surpassed Apple Inc's , pulling ahead by as much as $3 billion on Wednesday as the Windows software maker benefited from optimism about demand for cloud computing services.
Wall Street rallies as Powell hints at slowing rate hikes
NEW YORK (Reuters) - Wall Street extended its gains on Wednesday after Federal Reserve Chair Jerome Powell said that the central bank's policy rate was "just below" neutral, hinting at a potential moderation in the pace of policy tightening.
Global markets: Hints of fewer rate hikes boost Wall Street, dollar dips
NEW YORK (Reuters) - Comments by U.S. Federal Reserve Chair Jerome Powell that interest rates were "just below" neutral propelled Wall Street higher on Wednesday, easing investor worries about the pace of interest rate hikes next year.
Instability forcing Russia away from dollar settlements: Putin
Instability in US dollar-based settlements is forcing many economies, including Russia, to cut the share of such settlements with other countries and look for alternative currencies, Russian President Vladimir Putin said Wednesday.
AWS enters blockchain market with 2 dedicated services
Entering the growing global blockchain market, Amazon Web Services (AWS) has announced Managed Blockchain service and a Quantum Ledger Database (QLDB) to help companies manage business transactions that require full auditability.
UN chief hails developing countries' contribution to global growth
UN Secretary-General Antonio Guterres on Wednesday praised the developing countries' contribution to global growth as the UN prepared for a major conference on South-South cooperation.
Extreme Brexit could be worse than financial crisis for UK: BoE
LONDON (Reuters) - Britain risks suffering an even bigger hit to its economy than during the global financial crisis 10 years ago if it leaves the European Union in a worst-case Brexit scenario in four months' time, the Bank of England said on Wednesday.
Wall Street rallies after Powell says policy rate near neutral
(Reuters) - U.S. stock indexes rallied more than 1.5 percent on Wednesday after Federal Reserve Chairman Jerome Powell said the policy rate was 'just below' neutral, easing worries of a faster pace of interest rate hikes next year.
Powell backs rate hikes; says financial risks contained
NEW YORK (Reuters) - Federal Reserve Chair Jerome Powell appeared to signal a nearer end to the U.S. central bank's interest-rate hikes on Wednesday, saying interest rates are now "just below" estimates of neutral less than two months after saying rates were probably "a long way" from that point.
U.S. third-quarter growth unrevised; headwinds increasing
WASHINGTON (Reuters) - The U.S. economy slowed in the third quarter as previously reported, but the pace was likely strong enough to keep growth on track to hit the Trump administration's 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter.
Fed's Powell: Financial risks 'moderate' despite vulnerabilities
WASHINGTON (Reuters) - The U.S. faces only moderate financial risks despite elevated asset prices and concern over the possible impact of rising corporate debt, U.S. Fed chairman Jerome Powell said on Wednesday as the central bank released a broad overview of the health of credit markets and the financial system.
EV Motors plans to install over 6,500 charging stations in the next 5 years
Electric vehicles start-up EV Motors India on Wednesday said that it plans to install over 6,500 charging outlets in the country over the next five years.
IndiGo to commence services on Bhopal-Hyderabad route from January
Budget airline IndiGo on Wednesday said that it will introduce daily non-stop flights between Bhopal-Hyderabad and Jabalpur-Hyderabad from January 2019.
Modi, Jaitley resort malicious jugglery in GDP back-series data: Congress
The Congress on Wednesday accused Prime Minister Narendra Modi and Finance Minister Arun Jaitley of resorting to "malicious and fraudulent jugglery" of Gross Domestic Product (GDP) figures to hide the "enormous body blow" caused by them to India's economy.