WASHINGTON - The Federal Reserve is expected on Wednesday to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September.
Recent Business News
- Private equity firm Carlyle Group LP said on Wednesday its second-quarter earnings dropped 38 percent year-on-year as the value of its energy and hedge funds decreased, even as it generated more cash by cashing out on several of its assets.
- Health insurer Anthem Inc reported a better-than-expected quarterly profit, driven by strong enrollments in its government business, particularly Medicaid.
- Thomson Reuters Corp on Wednesday reported higher-than-expected quarterly profit as the company's biggest division that serves banks and financial institutions showed underlying growth for the first time since 2011.
BRUSSELS - Belgian chemical group Solvay has agreed to buy U.S. peer Cytec for $5.5 billion, giving it a bigger presence in the lightweight materials business where demand from the aerospace industry is booming.
LONDON - GlaxoSmithKline moved to reclaim its prowess as a research powerhouse on Wednesday by flagging up dozens of new drugs and vaccines in development, as demand for new HIV medicines helped it beat quarterly profit forecasts.