WASHINGTON - U.S. economic growth braked more sharply than initially thought in the fourth quarter as businesses slowed their pace of stock accumulation and the trade deficit widened, but the underlying fundamentals remained solid.
Recent Business News
- The Federal Reserve faces a greater risk of raising interest rates too soon than it does in waiting, a top Fed official said on Friday, citing a depressed level of current inflation.
NEW YORK - Retail investors are returning to bank loan mutual funds following seven straight months of outflows, with the Federal Reserve more clearly signaling an interest rate hike and higher secondary loan market prices starting to attract momentum buyers, investors and strategists said.
BRUSSELS/ATHENS - Greece is running out of options to fund itself despite a four-month bailout extension, raising pressure on Athens to quickly implement reforms it has vocally opposed or default on debt repayments in a matter of weeks. | Video
HONG KONG - Incoming Standard Chartered Chief Executive Bill Winters will need to take tough decisions that predecessor Peter Sands deemed unnecessary, in order to reverse a two-year slump in the bank's fortunes, according to some insiders and bankers.
NEW YORK - U.S. consumer sentiment fell from an 11-year high in February, weighed down by an unusually severe winter, a survey released on Friday showed.
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