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Fed is clearly on a path of returning rates to normal: Williams

Fed is clearly on a path of returning rates to normal: Williams

SAN FRANCISCO: The Federal Reserve is clearly on a path of returning interest rates to a normal level of 3 percent to 3.5 percent over the next few years, a top Federal Reserve official said on Friday. Raising rates in December was the right thing to do, given the improvement in the labor market, San […]

January 29, 2016 | By | Reply More
Wall Street surges at end of awful January

Wall Street surges at end of awful January

REUTERS: Wall Street surged over 2 percent on Friday after the Bank of Japan unexpectedly cut interest rates and Microsoft led a major rally in technology shares, repairing some of the damage to the S&P 500’s worst January since 2009. Slammed by collapsing oil prices that have fed doubts about the health of the global […]

January 29, 2016 | By | Reply More
Oil market ends turbulent month with tick higher

Oil market ends turbulent month with tick higher

NEW YORK: The oil market scored modest gains on Friday (Jan 29), ending a turbulent January that drove prices sharply lower amid worries about the global crude oversupply. Speculation that Russia and the Organization of the Petroleum Exporting Countries will meet to discuss oil output cuts to push up prices supported sentiment for a second […]

January 29, 2016 | By | Reply More
GM pitches new product strategy to skeptical investors

GM pitches new product strategy to skeptical investors

DETROIT: General Motors Co executives used to boast about how frequently the company redesigned cars and trucks. Now, the automaker wants to double the lifespan of vehicle platforms as part of a broader effort to slash and redirect capital spending, GM executives said. Starting with the new Chevrolet Cruze compact, the basic underpinnings of vehicle […]

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Boeing 737 MAX jet successfully completes first flight

Boeing 737 MAX jet successfully completes first flight

REUTERS: Boeing Co’s 737 MAX aircraft completed its first flight on Friday, taking off from rain-slick tarmac and conducting tests for about three hours before landing safely at Boeing Field in Seattle. The smooth flight of the new aircraft marks another step toward scheduled delivery to airlines in 2017. Live video supplied by Boeing showed […]

January 29, 2016 | By | Reply More
Microsoft drives tech rally; Wall Street up almost 2 percent

Microsoft drives tech rally; Wall Street up almost 2 percent

REUTERS: Wall Street surged nearly 2 percent on Friday after the Bank of Japan unexpectedly cut interest rates and Microsoft led a strong rally in technology shares. Stocks also got a boost from weak fourth-quarter U.S. GDP data, which bolstered arguments that the Federal Reserve might go slower than expected on future rate hikes. While […]

January 29, 2016 | By | Reply More
Nissan recalling 930,000 cars for hood latch problem

Nissan recalling 930,000 cars for hood latch problem

REUTERS: Nissan Motor Co said Friday it will recall nearly 930,000 Nissan cars worldwide for potentially faulty hood latches, marking the third time since 2014 the automaker has recalled vehicles to address the problem. The Japanese automaker said it is recalling the 2013-2015 Nissan Altima, because its secondary hood latch may bind on account of […]

January 29, 2016 | By | Reply More
James Murdoch returns to Sky

James Murdoch returns to Sky

LONDON: Media tycoon Rupert Murdoch’s son James will return as chairman of British broadcaster Sky in a move likely to fuel rumours of a takeover bid, four years after he quit amid a phone hacking scandal. “The board has appointed James Murdoch to succeed Nicholas Ferguson as chairman,” the company said in a statement Friday […]

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Fed will be patient on US policy given global risks: Kaplan

Fed will be patient on US policy given global risks: Kaplan

NEW YORK: The Federal Reserve needs more time to assess how global economic weakness and financial market turmoil will hurt the U.S. economy, and it will be patient about policy decisions, a Fed policymaker said on Friday. In an interview with Reuters, Dallas Fed President Robert Kaplan offered his assessment of the central bank’s decision […]

January 29, 2016 | By | Reply More
Boeing's 737 MAX aircraft takes off on first flight

Boeing's 737 MAX aircraft takes off on first flight

REUTERS: Boeing Co’s 737 MAX aircraft took off on its first flight on Friday from wet tarmac at an airport south of Seattle, marking another step toward scheduled delivery to airlines in 2017. Live video supplied by Boeing showed the smooth take-off of the plane, the fourth version of the original 737, which made its […]

January 29, 2016 | By | Reply More