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Wednesday, May 20, 2015

Fed officials see June rate hike as unlikely: minutes

WASHINGTON (Reuters) - Federal Reserve officials believed it would be premature to hike interest rates in June even though most felt the U.S. economy was set to rebound from a dismal start to the year, according to minutes from their April policy meeting released on Wednesday.

Five global banks to pay $5.7 billion in fines over rate rigging

NEW YORK (Reuters) - Five of the world's largest banks, including JPMorgan Chase & Co and Citigroup Inc, were fined roughly $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities said on Wednesday.

Global banks admit guilt in forex probe, fined nearly $6 billion

NEW YORK/LONDON (Reuters) - Four major banks pleaded guilty on Wednesday to trying to manipulate foreign exchange rates and, with two others, were fined nearly $6 billion in another settlement in a global probe into the $5 trillion-a-day market.

Dow, S&P 500 end slightly lower after Fed minutes

(Reuters) - U.S. stocks ended marginally lower on Wednesday after Wall Street saw little in the minutes from last month's Federal Reserve meeting to alter expectations of when the central bank will raise interest rates.

Takata to boost production of replacement air bag inflators

DETROIT (Reuters) - Takata Corp said on Wednesday it plans to boost production of parts needed to replace potentially deadly air bag inflators that could spray vehicle occupants with metal shards.

Greece says it will default in June without aid from lenders

ATHENS (Reuters) - Greece will not be able to make a payment to the International Monetary Fund due on June 5 unless foreign lenders provide more aid, a senior ruling party lawmaker said on Wednesday, the latest warning from Athens that it is on the verge of default.

Target profit tops estimates on healthy sales growth

(Reuters) - Target Corp on Wednesday reported a larger-than-expected rise in quarterly profit, citing robust online sales and strong demand for products at the center of its growth plan.

Altice enters U.S. cable market with Suddenlink move

PARIS/FRANKFURT (Reuters) - European telecoms group Altice has agreed to buy U.S. regional cable company Suddenlink Communications in a $9.1 billion deal, marking its first move across the Atlantic where it is also interested in buying Time Warner Cable.

Lowe's misses on profit; says harsh winter hurt promotions, sales

(Reuters) - Lowe's Cos Inc , the No.2 U.S. home improvement chain by sales, reported lower-than-expected quarterly earnings on Wednesday as a long, harsh winter hurt sales growth, sending its shares down more than 5 percent.

U.S. judge rules RadioShack IP auction was fair

(Reuters) - A U.S. bankruptcy judge on Wednesday cleared the way for RadioShack Corp to sell its brand name and customer data to a Standard General affiliate for about $26 million, rejecting a competing bidder's claim that the auction process was unfair.