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
WASHINGTON - U.S. economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits took a hit from a strong dollar, which could undermine future business spending. | Video
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.
SAN FRANCISCO - Yahoo Inc and Microsoft Corp agreed to extend by 30 days the deadline to re-negotiate a ten year search deal, as the two Internet companies attempt to revamp a thorny partnership crafted by former chief executives.
SAO PAULO - Brazilian police on Friday arrested the CEO of Grupo Galvão, the latest executive seized in a corruption probe focused on state-run oil firm Petroleo Brasileiro SA.
(This March 26th story has been corrected to remove 'in the next two years' from headline and first paragraph)