Career News 24/7: Business Today: Fed bumps up rate-hike path, but sees lower long-term rates

Wednesday, June 18, 2014

Business Today: Fed bumps up rate-hike path, but sees lower long-term rates

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06/18/2014

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Fed bumps up rate-hike path, but sees lower long-term rates

WASHINGTON (Reuters) - The U.S. Federal Reserve on Wednesday hinted at a slightly faster pace of interest rate increases starting next year, but suggested benchmark borrowing costs in the long-run would be lower than it had indicated previously.

S&P 500 ends at record after Fed comments

NEW YORK (Reuters) - U.S. stocks rose on Wednesday, with the S&P 500 ending at a record after the Federal Reserve hinted at a slightly faster pace of interest-rate increases starting next year, but suggested rates in the long run would be lower than it had indicated previously.

Argentina to negotiate with holdout investors for first time

NEW YORK (Reuters) - Argentine officials will seek to negotiate for the first time next week with hedge funds that refused to take part in its debt restructuring, a lawyer for the country said in Manhattan federal court on Wednesday, potentially bringing the country closer to resolving a years-long legal battle.

Amazon tries to break from pack with 3D-ready 'Fire' phone

SEATTLE (Reuters) - Amazon.com Inc Chief Executive Officer Jeff Bezos unveiled a "Fire" smartphone on Wednesday equipped with a 3D-capable screen and the ability to recognize objects, music and TV shows, hoping to stand out in a crowded field dominated by Apple Inc and Samsung Electronics .

GM emails show more unheeded warnings about ignition defects

WASHINGTON (Reuters) - U.S. lawmakers on Wednesday accused General Motors Co of a "disturbing pattern" of neglecting safety and revealed emails from 2005 in which a GM employee proposed a "big recall" over an ignition switch problem that was only addressed this week.

Argentines want debt deal as economic woes pile up

BUENOS AIRES (Reuters) - Argentina's decision to talk with holdout creditors to end its long-running bond dispute and possibly avoid another damaging default is likely to be popular in a country that is sliding into recession, even as many Argentines say they despise the hedge funds involved.

U.S. ignition-switch investigation extended to Chrysler

DETROIT/WASHINGTON (Reuters) - Problems with vehicle ignition switches have drawn U.S. safety regulators to investigate a second Detroit automaker, Chrysler Group, even as General Motors Co Chief Executive Mary Barra was providing U.S. lawmakers on Wednesday with more details on GM's ongoing switch issues.

GM hit with $10 billion lawsuit

(Reuters) - A new lawsuit says General Motors Co should compensate millions of car and truck owners for lost resale value, potentially exceeding $10 billion, because a slew of recalls and a deadly delay in recalling cars with defective ignition switches has damaged its brand.

Finmeccanica says will not incorporate loss-making unit

MILAN (Reuters) - Italian aerospace and defense group Finmeccanica said on Wednesday it will not incorporate its train-making AnsaldoBreda unit, denying media reports following the appointment of a new chief executive.

L'Oreal CEO says U.S. market is not improving

PARIS (Reuters) - French cosmetics giant L'Oreal on Wednesday said the US market for mass beauty consumer goods remained flat, dashing hopes of an improvement in the current quarter, but pointed to continued recovery in Europe, notably in southern countries.