TOKYO - The dollar tested a 12-1/2-year peak against the yen on Tuesday after a spate of mostly upbeat U.S. data reinforced expectations that the Federal Reserve would raise interest rates this year, while Asian shares were little changed.
Recent Business News
- Takata Corp said on Monday that it will continue producing air bags that use ammonium nitrate propellant, but will change the design of the driver-side air bag inflators.
- Intel Corp agreed to buy Altera Corp for $16.7 billion as the world's biggest chipmaker seeks to make up for slowing demand from the PC industry by expanding its line-up of higher-margin chips used in data centers. | Video
- Mylan NV said Teva Pharmaceutical Industries Ltd , which has made an unsolicited offer for the company, violated U.S. anti-trust rules by acquiring a stake.
NEW YORK - Steadily expanding demand, in line with a moderately growing U.S. economy and a still low rate of new room construction, bodes well for the U.S. hotel industry in the near term, leading executives in the business said on Monday.
HARTFORD, Conn. - With little evidence the U.S. economy is rebounding after a very weak first quarter, the Federal Reserve is in no position to start raising interest rates for the first time since 2006, a top Fed official said on Monday.