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Markets drift as investors ready for Fed
Markets drifted lower Wednesday ahead of a keenly awaited policy statement from the U.S. Federal Reserve. The central bank wraps up a two-day policy meeting later and investors are looking to see if policymakers are moving towards any change in its monetary policy stance. The Fed's strategy of super-low interest ...
Stocks edge lower as investors wait on Fed
Stocks edged lower in early trading on Wall Street Wednesday as investors waited for word from the Federal Reserve. The U.S. central bank will release its latest policy update at 2 p.m. Eastern Daylight Time. Fed chairman Ben Bernanke will speak at a press conference thirty minutes later. The Fed ...
Liberty law school demands lawsuit coverage
Liberty University's law school wants a judge to force its insurance company to pay for its defense in a lawsuit stemming from a same-sex-marriage custody battle. Virginia Lawyer's Weekly (http://bit.ly/16gkYwz ) reports that the school claims in Lynchburg federal court that Hanover Insurance Co. wrongly denied coverage in the lawsuit ...
IMF calls for urgent steps on Spain unemployment
Spain faces the prospect of of high unemployment and sluggish growth lasting years unless the country and Europe take "urgent action" to slash the nation's crippling 27 unemployment rate and free frozen credit to businesses so they can expand, the International Monetary Fund said Wednesday. A report issued by the ...
Oil rises near $99 a barrel before Bernanke speaks
The price of oil rose to near $99 a barrel on Wednesday, driven by a report of falling U.S. stockpiles of crude and ahead of the conclusion of a meeting of the Federal Reserve. By early afternoon in Europe, benchmark oil for July delivery was up 20 cents to $98.64 ...
UK banking commission urges better standards
British bankers could soon be facing harsher penalties for behaving badly. After a year which has seen major scandals involving rate-rigging, money-laundering and rogue-trading rock the UK's financial industry, an influential parliamentary committee recommended Wednesday that senior bankers should be held more accountable for their bank's actions. One measure, it ...
World Bank highlights climate-poverty link
The World Bank says it will increasingly view its efforts to help developing countries fight poverty through a "climate lens." In a report released Wednesday, the international lending institution warned that heat waves, rising seas, more severe storms and other impacts of climate change will trap millions of people in ...
Japan's trade deficit climbs to $10.5B in May
Japan's trade deficit rose nearly 10 percent in May to 993.9 billion yen (nearly $10.5 billion), highlighting the challenge Prime Minister Shinzo Abe faces in revitalizing manufacturing as industries increasingly shift production offshore. Rising costs for imports due to the cheaper yen matched a 10 percent rebound in exports from ...
Investors look for answers on economy from Fed
Worry and speculation have consumed investors since Chairman Ben Bernanke spoke to Congress last month about the Federal Reserve's drive to keep long-term interest rates at record lows. On Wednesday, many hope the Fed will settle the confusion. Will the Fed scale back its $85 billion-a-month in bond purchases within ...
Gov't report: Smooth launch unsure for health law
There's no guarantee that President Barack Obama's health care law will launch smoothly and on time, congressional investigators say in the first in-depth independent look at its progress. But in a report to be released Wednesday, the congressional Government Accountability Office also sees positive signs as the Oct. 1 deadline ...
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