WASHINGTON - The U.S. economy grew faster than initially estimated in the third quarter but weak demand and a pile-up in business inventories buoyed the case for the Federal Reserve to keep up its bond-buying stimulus for now.
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Recent Business News
PARIS - Airbus and its engine makers have acted to try to shore up the value of second-hand A340 aircraft as the European planemaker tries to reduce its financial exposure to depressed market prices of an aircraft that it no longer produces.
BERLIN - German Finance Minister Wolfgang Schaeuble has invited euro zone officials to a meeting in Berlin on Friday in a bid to come closer to a solution on a planned European resolution mechanism to deal with troubled banks, a German newspaper said on Friday.
ZURICH/WASHINGTON - Switzerland's private banks have until Monday to decide whether to bow to U.S. pressure and ditch the centuries-old culture of secrecy that has made the Alpine state a global vault for the world's rich.
NEW YORK/BOSTON - JPMorgan Chase & Co is warning some 465,000 holders of prepaid cash cards issued by the bank that their personal information may have been accessed by hackers who attacked its network in July.
The US economy grew even faster than initially thought in the third quarter, but possibly not in the most helpful way.