Fed on track to hike rates as economic headwinds wane: Yellen

PROVIDENCE, R.I. - Federal Reserve Chair Janet Yellen was clearer than ever on Friday that the central bank was poised to raise interest rates this year, as the U.S. economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned.

Recent Business News

Germany, France usher Greece back to negotiating table

RIGA - European leaders told Greece on Friday to return to the negotiating table for "intensive work" to wrap up a reform agreement before cash runs out, sidestepping Athens' demand for a comprehensive, long-term solution to its troubles.

3:07pm EDT

Mazda, Mitsubishi add 624,000 more cars to Takata air bag recall

TOKYO - Mazda Motor Corp and Mitsubishi Motors Corp said on Friday they would recall about 624,000 more vehicles to replace air bag inflators made by Japan's Takata Corp , following similar moves last week by domestic automakers.

6:07am EDT

Porsche recalls 918 Spyder on cooling system risk

FRANKFURT - Germany's Porsche on Friday launched a precautionary worldwide recall of its 918 Spyder sportscar, which can cost up to 850,000 euros ($937,000), saying a carbon fibre part could damage the cooling system and needed to be checked.

12:25pm EDT

HP sells $2.3 billion China unit stake to forge partnership with Tsinghua Unigroup

HONG KONG - Hewlett-Packard Co will sell a controlling 51 percent stake in its China-based data-networking business to China's Tsinghua Unigroup for at least $2.3 billion, forming a partnership designed to create a Chinese technology powerhouse.

Tech, Deals, China 21 May 2015

British banks planning for EU 'no' stymied by lack of European office space

LONDON - A shortage of prime office space in rival European financial centres may torpedo plans by some of London's banks to quit the UK capital if Britain opts out of European Union membership.

8:46am EDT


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