Fed confident in U.S. growth outlook, opens door wider to rate hike

WASHINGTON - The Federal Reserve on Wednesday offered a strong signal that it was on track to raise interest rates sometime next year, altering a pledge to keep them near zero for a "considerable time" in a show of confidence in the U.S. economy.

Recent Business News

Airbus reshuffle prepares planemaker for record jet output

PARIS - A management reshuffle at Airbus this week marks another step towards focusing Europe's biggest aerospace company on industrial performance rather than the political interests of key shareholders France and Germany, industry sources said.

2:12pm EST

U.S. consumer prices fall on gasoline; eyes on Fed

WASHINGTON - U.S. consumer prices recorded their biggest drop in nearly six years in November as gasoline prices tumbled, but that did not change views the Federal Reserve would start raising interest rates in mid-2015.

10:40am EST

Oil surges nearly 5 percent on technical buying after U.S. inventory drop

NEW YORK - Crude oil jumped nearly 5 percent on Wednesday as important chart support prices held fast after nearly a week of selling, leading to technical buying that turned the market around abruptly.

1:28pm EST

Russian ruble firms sharply as government pressures exporters

MOSCOW - Russia's ruble strengthened sharply on Wednesday after dramatic falls on the previous two days as the government pressured exporters not to hoard foreign-currency earnings and the central bank announced new measures to support financial stability. | Video

1:09pm EST

U.S. current account deficit widens in third quarter

WASHINGTON, Dec 17 - The U.S. current account deficit unexpectedly rose in the third quarter as an increase in exports was offset by a rewidening of the secondary income shortfall.

9:17am EST


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How record crops generate food inequality

The Food and Agriculture Organization (FAO) of the United Nations announced that world cereal production was expected to hit a record high in 2014, helping the worldwide stock-to-use ratio—a proxy for supply conditions—to enjoy the highest levels in over a decade.