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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

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

OPEC, non-OPEC set for new oil cut, eye longer duration

VIENNA OPEC and non-member oil producers are set to extend output cuts on Thursday, possibly by as long as 12 months, to help clear a global stocks overhang and prop up crude prices.

3:25pm EDT

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

New Ford CEO eligible for $13.4 million in annual compensation

Ford Motor Co said on Wednesday new Chief Executive James Hackett is eligible for at least $13.4 million in total annual compensation.

3:11pm EDT

Hundreds protest over minimum wage at McDonald's stockholder meeting

OAK BROOK, Ill. Hundreds of fast-food workers demanded wage increases as they marched outside McDonald's Corp headquarters during the company's annual shareholder meeting on Wednesday.

3:16pm EDT

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