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Drop in U.S. consumer spending clouds Fed rate hike outlook

WASHINGTON U.S. consumer spending fell in August for the first time in seven months while inflation showed signs of accelerating, mixed signals that could keep the Federal Reserve cautious about raising interest rates.

Banks and central banks

Recent Business News

Exclusive: China set to export corn, posing new threat to battered global market - sources

BEIJING China has given approval to at least two companies to export corn, trading sources said, in a radical move by the world's No. 2 producer to cut its ballooning surplus and unleash more supply into a saturated global market.

10:40am EDT

BMW says it plans to offer electric X3 SUV and Mini models

German luxury auto maker BMW AG said Friday it will offer all electric versions of its next generation BMW X3 compact sport utility vehicle and electric Mini models, expanding its entries in the emerging electric luxury vehicle market.

12:31pm EDT

Japan's Mitsubishi Motors to resume sales after latest cheating scandal

TOKYO Japanese automaker Mitsubishi Motors Corp will resume domestic sales of eight vehicle models on Oct. 1, the company said on Friday, after correcting overstated mileage readings in its second cheating scandal this year.

6:37am EDT

Qualcomm to fight EU antitrust charge at November 10 hearing: sources

BRUSSELS U.S. chipmaker Qualcomm will attempt to fend off EU antitrust charges at a hearing on Nov. 10 that it used anti-competitive methods to squeeze out a rival, two people familiar with the matter said on Friday.

12:10pm EDT

German lawyer makes hate-speech complaint against Facebook

FRANKFURT German prosecutors are again considering whether to press charges against Mark Zuckerberg and other Facebook executives for failing to staunch a tide of racist and threatening posts on the social network during an influx of migrants into Europe.

Tech, Facebook 12:35pm EDT

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