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Fed nods to firmer prices yet still focused on labor weakness

WASHINGTON - The Federal Reserve on Wednesday reaffirmed it was in no rush to raise interest rates, even as it upgraded its assessment of the U.S. economy and expressed some comfort that inflation was moving up toward its target.

Recent Business News

Some WTO members discussing customs deal without India: sources

- A group of World Trade Organization (WTO) members has informally discussed adopting a global overhaul of customs rules without India if New Delhi goes ahead with threats to block the deal, sources familiar with the talks said on Thursday.

12:59am EDT

Bank of America ordered to pay $1.27 billion for 'Hustle' fraud

NEW YORK - A federal judge on Wednesday ordered Bank of America Corp to pay a $1.27 billion penalty for fraud over shoddy mortgages sold by the former Countrywide Financial Corp.

Samsung Electronics downbeat on third quarter prospects as profits slide

SEOUL - Samsung Electronics Co Ltd. on Thursday reported its worst quarterly profit in two years and flagged uncertain earnings prospects for its key handset business, fuelling worries about its ability to return to growth.

Tech, Media 12:47am EDT

Amazon quickens push into tough local services market

SAN FRANCISCO - Seattle audio and video technician Todd Mueller showed up last year for what might have been a routine job except for one thing: Amazon.com Inc was taking notes. As he mounted a flat-screen TV on the wall, an Amazon employee studied how he covered his shoes and used a blanket to protect the hardwood floor.

Tech, Media 1:01am EDT

BOJ should mull shifting focus to zero rates in future: Kiuchi

KOBE Japan - Bank of Japan board member Takahide Kiuchi said on Thursday the central bank should consider as a future option shifting the focus of its monetary policy to zero interest rates from asset purchases when it eyes an exit from ultra-loose policy.

30 Jul 2014

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