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Fed says rate hike next month hinges on market volatility

JACKSON HOLE, Wyo. - The Federal Reserve on Friday left the door open to a September interest rate hike even while several U.S. central bank officials acknowledged that turmoil in financial markets, if prolonged, could delay the first policy tightening in nearly a decade.

Recent Business News

FedEx pilot union's executive council votes in favor of labor contract

- FedEx Corp pilot union's executive council has voted in favor of a tentative contract that seeks better employment terms including higher hourly pay rates and retirement plan enhancement, the Air Line Pilots Association said.

6:22pm EDT

Pentagon teams up with Apple, Boeing to develop wearable tech

MOUNTAIN VIEW, Calif. - U.S. Defense Secretary Ash Carter awarded $75 million on Friday to help a consortium of high-tech firms and researchers develop electronic systems packed with sensors flexible enough to be worn by soldiers or molded onto the skin of a plane.

Tech, Science 2:59pm EDT

Man linked to JPMorgan hacking in talks to resolve U.S. case: filing

NEW YORK - A Florida man accused of running an unlicensed bitcoin exchange and who is among five defendants linked to last summer's massive data breach at JPMorgan Chase & Co is in talks to resolve his criminal case, according to court papers filed Friday.

Oil extends short-covering frenzy to second day, topping $50

NEW YORK - World oil prices roared back to $50 a barrel in the second day of a frenetic short-covering rally on Friday, with violence in Yemen, a storm in the Gulf and refinery outages helping extend the biggest two-day rally in six years.

5:35pm EDT

United Airlines to revamp scheduling to fight flight delays

CHICAGO - United Airlines plans to change the way it schedules flights and to use new technology to tackle the delays and cancellations that have hurt its competitiveness, company executives told Reuters.

5:46pm EDT

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