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Fed's 'Great Unwinding' lifts dollar, yields and bank stocks

LONDON Signals the Federal Reserve will hike U.S. interest rates again this year and begin the 'Great Unwinding' of a decade of aggressive stimulus, drove the dollar to a two-month high versus the yen on Thursday and sent bonds and commodities lower.

Recent Business News

Toys 'R' Us plans holiday hires including toy demonstrators

Toys "R" Us Inc, the U.S. toy retailer that filed for bankruptcy protection this week, said on Thursday it is hiring part-time seasonal workers to staff its stores for the holidays, including for a new position of toy demonstrator.

6:01am EDT

Avis, Hertz shares rise but remain in short-seller cross-hairs

NEW YORK Shares of U.S. car-rental companies Avis Budget Group Inc and Hertz Global Holdings Inc have driven out of the ditch in recent weeks, aided in part by storms that devastated the southern United States.

1:05am EDT

China's Baidu launches $1.5 billion autonomous driving fund

BEIJING Chinese search engine Baidu Inc announced a 10 billion yuan ($1.52 billion) autonomous driving fund on Thursday as part of a wider plan to speed up its technical development and compete with U.S. rivals.

2:51am EDT

Volvo rolls out compact SUV in latest upmarket shift under Geely

MILAN Volvo Cars showed off its first compact SUV on Thursday with the launch of its new XC40 model, the latest in a sweeping overhaul of the carmaker's line-up under Chinese ownership.

5:33am EDT

Mitsubishi recalls 89,406 cars in Russia: standards agency

MOSCOW Russia's standards watchdog Rosstandart said on Thursday it had been informed that Mitsubishi Motors Corp was recalling 89,406 Mitsubishi ASX cars sold in Russia between July 2010 and January 2016.

5:42am EDT


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