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Fed ties rate hike to economic rebound, sees balance sheet cuts in 2017

WASHINGTON Federal Reserve policymakers agreed they should hold off on raising interest rates until it was clear a recent U.S. economic slowdown was temporary, though most said a hike was coming soon, minutes from their last policy meeting showed on Wednesday.

Recent Business News

GM to cut jobs in international HQ in Singapore: source

General Motors Co will slash headcount in its international headquarters in Singapore as part of its efforts to reduce exposure to unprofitable and unpromising markets.

2:50pm EDT

Home sales fall as tight supply boosts prices

WASHINGTON U.S. home resales fell from a more than 10-year high in April, weighed down by a chronic shortage of houses on the market that is keeping prices elevated and sidelining prospective buyers.

1:27pm EDT

U.S. interest rates may pose risk to Trump budget's optimistic assumptions

WASHINGTON If President Donald Trump's budget does touch off an economic boom that pushes growth up to 3 percent a year as it assumes, the government's borrowing is likely to cost much more than has been factored into the administration's fiscal proposals.

3:56pm EDT

HP Inc revenue beats on higher demand for PCs, printers

HP Inc , which was created through the breakup of Hewlett-Packard Co, reported better-than-expected quarterly revenue, boosted by a stabilizing PC market and a recovery in its printer business.

4:43pm EDT

BNP Paribas to pay $350 million to settle New York currency-rigging probe

NEW YORK French bank BNP Paribas on Wednesday agreed to pay $350 million to New York’s banking watchdog to resolve a probe of misconduct in its foreign exchange business, which the regulator said enhanced the bank's profits at customers' expense.

5:00pm EDT

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