Yellen: Fed not likely to reverse course on rates despite risks

WASHINGTON Tightening financial conditions and uncertainty over China pose risks to the U.S. recovery, but chances are slim the Federal Reserve would need to reverse the rate tightening cycle it began in December, Fed Chair Janet Yellen told U.S. lawmakers on Wednesday.

Recent Business News

U.S. judge rejects motion to review GM ignition switch deal

A U.S. judge on Wednesday rejected a request to reconsider his approval of a settlement fund to resolve more than a thousand lawsuits over deaths and injuries blamed on an ignition switch defect that prompted General Motors Co to recall 2.6 million vehicles.

Carlyle unveils $200 million share buyback, earnings miss forecast

NEW YORK Private equity firm Carlyle Group LP unveiled a $200 million share buyback plan on Wednesday as it posted weaker-than-expected fourth-quarter earnings amid turbulent financial markets.

12:04pm EST

Viacom investor SpringOwl urges independent directors to quit

Viacom Inc investor SpringOwl Asset Management urged the media company's six independent directors to step down immediately, days after the board appointed Chief Executive Philippe Dauman to the additional post of executive chairman.

11:30am EST

In an uncertain world, Bank of England 'agents' keep Carney informed

REIGATE, England Unsure how a misfiring global economy is affecting matters at home, Bank of England chief Mark Carney has turned to an age-old gauge of Britain's economy: the word on the street from a trusted band of regional agents.

11:05am EST

Nomura CEO aims to finally crack U.S. with shift to M&A advisory

TOKYO Nomura Holdings Inc plans a shift in focus in the United States toward client-oriented services from market-based trading, the chief executive said, in its latest attempt to establish a profitable business in a major overseas economy.

10:43am EST


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