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Fed's Yellen sees gradual rate hikes starting this year

SAN FRANCISCO/WASHINGTON - Federal Reserve Chair Janet Yellen signaled that the U.S. central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasized the return to normal interest rates will be gradual.

Recent Business News

Neither Grexit, nor Grexident. Euro and 'drachma' in parallel?

BRUSSELS - Greece is unlikely to exit the euro, either intentionally or accidentally. But it might be forced to introduce an alternative means of payment, in parallel to the euro, to pay some domestic bills if a reform-for-cash deal with its creditors is not secured soon, several euro zone officials said.

11:25am EDT

Google to pay CFO Porat more than $70 million

(This March 26th story has been corrected to remove 'in the next two years' from headline and first paragraph)

Tech, Money 3:38pm EDT

Lender says will make 'significant' new bid for RadioShack

WILMINGTON, Del - A lender to bankrupt RadioShack Corp told a U.S. judge on Friday it was prepared to present a new offer that was a "significant improvement" over a rival proposal that was selected as a winning bidder at an auction this week.

3:57pm EDT

As 3G digests Kraft deal, rivals will focus on organic firms

NEW YORK - The macaroni and ketchup merger of Kraft Foods Group and H.J. Heinz Co may prove a boon to the far smaller natural and organic food companies that have seized market share as consumers shift away from processed foods, bankers and portfolio managers said.

2:40pm EDT

Goldman climbs to top commodity bank ranking over JP Morgan

LONDON - Goldman Sachs became the top commodities bank last year, overtaking rival JP Morgan, a consultancy said on Friday.

9:51am EDT

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