- U.S. stocks looked set to snap a two-day rally on Friday after comments by a top Federal Reserve official appeared to suggest that a September rate rise was still possible.
Recent Business News
LONDON - Credit rating firm Moody's cut its 2016 global economic growth forecasts on Friday, with China and United States both trimmed and Russia and Brazil seen staying in recession.
- U.S. funds cut recommended equity allocations in August and increased exposure to debt, a Reuters poll found, largely maintaining a broad trend since the start of the year as stocks underperform and government bonds remain in demand.
This month's wild ride in global stocks and fears of an emerging market crisis led funds to raise bond allocations to eight-month highs, even though most investors remain bullish on the outlook for Japan and the West.
- BNY Mellon Corp's computer glitch this week has disrupted pricing on nearly 5 percent of U.S. mutual funds and exchange-traded funds with about $404 billion in assets, according to data from Morningstar Inc and Lipper Inc.
NEW YORK - China's demand for luxury cars used to move in one direction - up. Now, the prospect of a sustained slump in Chinese demand, prompted by sharp declines in Chinese equity markets and a devaluation of the yuan, has global auto manufacturers scrambling to find new markets to sell goods.