Finance news

• Senators call for scrutiny of Walgreens-Rite Aid deal

  28-10-2015 23:43 via news.yahoo.com
  
  Walgreens Chief Executive Stefano Pessina said the company had analyzed the antitrust aspect of the deal but would not speculate on the number of drugstores it might need to divest in order to win regulatory approval. The top two antitrust lawmakers in the U.S. Senate on Wednesday urged antitrust enforcers to give the plan careful scrutiny because of the importance of healthcare in the U.S. economy.
  
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• Barrick earnings beat market expectations, cuts debt

  28-10-2015 23:27 via news.yahoo.com
  
  Oct (HKSE: 3366-OL.HK - news) 28 (Reuters) - Barrick Gold Corp, the world's biggest gold producer, reported lower quarterly adjusted earnings on Wednesday due to weaker gold and copper prices but results were better than the market expected. The Toronto-based miner, which has the highest debt of any gold miner, said it had reduced its debt to $11.2 billion as of Wednesday. Barrick, like rival Newmont Mining Corp, gave an improved cost outlook for the year.
  
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• Ontario Securities Commission chair to retire

  28-10-2015 23:25 via news.yahoo.com
  
  (Reuters) - The chair of the Ontario Securities Commission, Howard Wetston, will retire when his term ends on Nov. 15, Canada's largest securities regulator said on Wednesday. Wetston, who has been chairman of the OSC since 2010, will be replaced on interim basis by Vice-Chair Monica Kowal. The regulator did not provide any detail on the process to find a permanent replacement. Wetston's plan to retire was initially reported by the Wall Street Journal. (Reporting by Alastair Sharp in Toront
  
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• Trump, Carson to face scrutiny at Republican presidential debate

  28-10-2015 23:05 via news.yahoo.com
  
  By Steve Holland and James Oliphant BOULDER, Colo. (Reuters) - Political outsiders Ben Carson and Donald Trump will be under pressure to prove their economic expertise at Wednesday's presidential debate, with eight struggling rivals eager to expose what they see as policy weaknesses in the two front-runners. The nationally televised debate comes at a crucial time in the race for the 2016 Republican presidential nomination, as Carson has moved ahead of Trump in some national and local polls just
  
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• How the budget deal changes Social Security for couples

  28-10-2015 22:37
  
  CHICAGO (Reuters) - Among its many provisions, the budget deal moving quickly through Congress puts an end to "file-and-suspend," a lucrative strategy for couples that can boost lifetime Social...
  
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• India's Modi to set out Africa trade vision at summit

  28-10-2015 22:19 via news.yahoo.com
  
  Indian Prime Minister Narendra Modi will spell out his vision for the future of his country's economic relations with Africa on Thursday, as he addresses the major India-Africa Forum Summit in New Delhi. The premier will speak to delegates, including heads of state or officials, from all 54 African Union nations, with announcements aimed at jump-starting bilateral trade and burnishing Indian investment in the continent. Despite more than doubling since 2007 to $72 billion in fiscal 2014-15, Indi
  
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• Wall Street climbs as Fed puts December rate hike in play

  28-10-2015 22:10 via news.yahoo.com
  
  The KBW Nasdaq regional bank index jumped 4.1 percent. The Fed left rates unchanged, as expected, and, in a direct reference to its next meeting, put a December rate hike firmly in play. Stocks initially sold off following the statement, with the S&P 500 erasing close to a 1 percent gain, but quickly rebounded to end at the day's highs as investors saw the statement as a sign the Fed has confidence the U.S. economy can sustain a rate hike.
  
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• Hybrid technology to fill autos gap as diesel damaged by VW scandal

  28-10-2015 22:10 via news.yahoo.com
  
  By Norihiko Shirouzu and Maki Shiraki TOKYO (Reuters) - The Volkswagen diesel emissions test rigging scandal could accelerate a shift toward gasoline-electric hybrid cars and plug-in electric hybrids - even as cheaper gasoline, for now, saps demand for green cars. The fallout from VW - where the cost of the scandal pushed the German automaker to a first quarterly loss in at least 15 years - is rippling through an industry already embracing alternative 'greener' propulsion systems to traditional
  
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• After a wobble, stocks end higher as investors watch the Fed

  28-10-2015 22:03 via news.yahoo.com
  
  NEW YORK (AP) — The stock market ended solidly higher Wednesday, recovering from an afternoon wobble, after the Federal Reserve indicated that it will consider raising its benchmark interest rate at its December meeting. Bond yields rose and the dollar climbed against other currencies as traders anticipated that higher rates were on the way.
  
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• El Nino drought poses poverty challenge for Indonesia's Widodo

  28-10-2015 22:02 via news.yahoo.com
  
  By Nicholas Owen KARANG JATI, Indonesia (Reuters) - On a dry and dusty sports field in central Java, Indonesian men dressed as traditional warriors take turns to battle with wooden staves, while village women crowd around, chanting: "All farmers let us pray that rain comes and washes our sorrow away." As in many parts of Java, Indonesia's main rice-growing island, seasonal rains are late coming to Karang Jati. A drought caused by the El Nino weather pattern, which scientists say could be the wor
  
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• Fed sees better outlook; December rate hike possible

  28-10-2015 21:55 via news.yahoo.com
  
  The Federal Reserve kept its benchmark interest rate unchanged Wednesday but, showing more confidence in US economic growth, made clear an increase is possible in December. The Federal Open Market Committee also dropped its warning from September that the global downturn could affect the US, even as worries mount over China's slowdown and falling commodity prices. Data since the September meeting "suggests that economic activity has been expanding at a moderate pace," the FOMC said in a statemen
  
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• US stocks jump as Fed view of US improves

  28-10-2015 21:47 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks finished solidly higher Wednesday after the Federal Reserve kept interest rates near zero and modestly upgraded its US economic outlook.
  
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• Wall Street jumps as Fed keeps Dec rate hike in play

  28-10-2015 21:32 via news.yahoo.com
  
  The KBW Nasdaq regional bank index jumped 4.1 percent. S&P utilities , which tend to do worse when interest rates are rising, fell 1.1 percent and led S&P sector declines. The central bank left interest rates unchanged, as was expected, and, in a direct reference to its next meeting, put a December rate hike firmly in play.
  
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• Stocks end solidly higher as investors watch the Fed

  28-10-2015 21:11 via news.yahoo.com
  
  NEW YORK (AP) — A late afternoon rally is leaving the stock market solidly higher at the closing bell as traders get more comfortable with the prospect of higher U.S. interest rates.
  
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• US stocks end higher as Fed view of US improves

  28-10-2015 21:08 via news.yahoo.com
  
  New York (AFP) - Wall Street stocks finished solidly higher Wednesday after the Federal Reserve kept interest rates near zero and modestly upgraded its US economic outlook.
  
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• Wall Street climbs after Fed in volatile trading

  28-10-2015 21:03 via news.yahoo.com
  
  NEW YORK (Reuters) - U.S. stocks ended sharply higher after a volatile session on Wednesday as the Federal Reserve gave a vote of confidence in the U.S. economy by signaling a December interest rate hike was still on the table.
  
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• A stock rally fades, then returns, as traders watch the Fed

  28-10-2015 20:36 via news.yahoo.com
  
  NEW YORK (AP) — A stock market rally wobbled, then recovered, after the Federal Reserve indicated that it would consider raising its benchmark interest rate at its next meeting in December. Bond yields edged higher and the dollar climbed against other currencies as traders anticipated the possibility of higher interest rates in the U.S.
  
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• Pressure mounts on Brazilian Congress to impeach president

  28-10-2015 20:28 via news.yahoo.com
  
  Opposition activists handcuffed themselves to a pillar in Brazil's Congress on Wednesday seeking the impeachment of President Dilma Rousseff for mismanaging a once-booming economy and undermining confidence in the country. The small protest inside the foyer of the lower chamber highlighted the growing pressure on Brazilian politicians to begin impeachment proceedings against a president struggling to survive economic recession and a huge corruption scandal. Brazil cannot put up with more unemplo
  
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• Financial stocks lift Wall Street after Fed statement

  28-10-2015 20:25 via news.yahoo.com
  
  The central bank left interest rates unchanged, as was expected, and, in a direct reference to its next meeting, put a December rate hike firmly in play. It doesn't necessarily signal to me strongly that they have an intention of hiking (in December)," said Aneta Markowska, chief U.S. economist at Societe Generale in New York. The Fed has not hiked rates in about a decade.
  
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• FOMC statement from Oct. 27-28 meeting

  28-10-2015 20:23 via news.yahoo.com
  
  Information received since the Federal Open Market Committee met in September suggests that economic activity has been expanding at a moderate pace. The pace of job gains slowed and the unemployment rate held steady. Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.
  
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• Fed improves economic oulook but defers on rate hike

  28-10-2015 20:18 via news.yahoo.com
  
  The Federal Reserve kept its benchmark interest rate unchanged at near zero Wednesday but said the US economy is growing moderately on "solid" consumer spending and business investment. Expectations had been that the US central bank would keep the federal funds rate at 0-0.25 percent, where it has sat since 2008. After the Federal Open Market Committee released its policy update following a two-day meeting, US stocks tumbled and the dollar moved sharply higher, gaining more than a cent on the eu
  
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• AP-GfK Poll: Americans still feeling economic gloom

  28-10-2015 20:15 via news.yahoo.com
  
  WASHINGTON (AP) — Americans are more likely than they were a year ago to have positive views of the nation's economy, but they're still feeling more pessimism than optimism, according to a new Associated Press-GfK poll conducted ahead of CNBC's GOP primary debate on Wednesday.
  
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• Republican rivals eager to turn election debate against Trump, Carson

  28-10-2015 20:14 via news.yahoo.com
  
  By Steve Holland BOULDER, Colo. (Reuters) - Seasoned politicians trailing Donald Trump and Ben Carson for the Republican nomination in the U.S. presidential election campaign are eager to shift the focus to the economy and policy in Wednesday's debate and expose what they see as weaknesses in the two front-runners. Jeb Bush and other candidates are trying to turn the tide in a campaign that is dominated so far by provocative rhetoric that has played to the strengths of Trump, a bombastic reality
  
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• Goldman to pay $50 million for not supervising banker in NY Fed case: NYDFS

  28-10-2015 20:09
  (Reuters) - Goldman Sachs Group Inc will pay a $50 million fine for a banker who took confidential documents from the Federal Reserve Bank of New York and shared them with a client, the New York...
  
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• Exclusive: U.S. trade czar says Britain would lose on trade outside the EU

  28-10-2015 20:08 via news.yahoo.com
  
  By Krista Hughes and Philip Blenkinsop WASHINGTON/BRUSSELS (Reuters) - The United States is not keen on pursuing a separate free trade deal with Britain if it leaves the European Union, U.S. Trade Representative Michael Froman said on Wednesday, the first public comments from a senior U.S. official on the matter. Froman's comments undermine a key economic argument deployed by proponents of a British exit, who say the United Kingdom would prosper on its own and be able to secure bilateral free tr
  
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• How the AP-GfK poll on the economy was conducted

  28-10-2015 20:02 via news.yahoo.com
  
  The Associated Press-GfK poll on the economy was conducted by GfK Public Affairs and Corporate Communications from Oct. 15-19. It is based on online interviews of 1,027 adults who are members of GfK's nationally representative KnowledgePanel.
  
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• Fed keeps rate at record low but will consider December hike

  28-10-2015 19:44 via news.yahoo.com
  
  WASHINGTON (AP) — The Federal Reserve is keeping its key short-term interest rate at a record low in the face of threats from a weak global economy and excessively low inflation. But it suggested the possibility of a rate hike in December.
  
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• Equities fall, bond yields rise after hawkish Fed statement

  28-10-2015 19:43 via news.yahoo.com
  
  By David Gaffen NEW YORK (Reuters) - U.S. bond yields rose and stocks sold off after a U.S. Federal Reserve statement following its two-day policy meeting made it clear that the world's largest central bank still sees a December rate increase as a possibility. The Fed kept U.S. rates at their long-term record lows, but what stood out in the statement was a specific reference to conditions necessary "to raise the target range at its next meeting." It said it will assess progress toward maximum em
  
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• Fed keeps rates unchanged, specifically mentions Dec meeting

  28-10-2015 19:41 via news.yahoo.com
  
  *That omission marked a softening in tone compared to the Fed's statement last month. *The Fed's policy-setting committee also noted that U.S. job growth had slowed and the unemployment rate had held steady. *"The committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced," the Fed said in its statement.
  
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• Chicago approves Emanuel's city budget, property tax increase

  28-10-2015 19:40 via news.yahoo.com
  
  Chicago Mayor Rahm Emanuel's $7.8 billion fiscal 2016 budget and a historic property tax increase to pay for public safety worker pensions easily cleared the city council on Wednesday. Emanuel last month proposed a $543 million property tax hike phased in over four years, as well as fee increases and spending cuts in an attempt to fix a financial crisis linked to the city's $20 billion unfunded pension liability. The 50-member council voted 36-14 for the budget and 35-15 for the property tax hik
  
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• Wall Street cuts gains after Fed statement

  28-10-2015 19:37 via news.yahoo.com
  
  The Fed hasn't hiked rates in about a decade. The Dow Jones industrial average rose 9.88 points, or 0.06 percent, to 17,591.31, the S&P 500 gained 2.15 points, or 0.1 percent, to 2,068.04 and the Nasdaq Composite added 1.55 points, or 0.03 percent, to 5,031.69.
  
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• Fed keeps key near-zero rate unchanged

  28-10-2015 19:36 via news.yahoo.com
  
  The Federal Reserve kept its near-zero benchmark interest rate unchanged Wednesday but said the US economy is growing moderately on the back of "solid" consumer spending and business investment. In a slightly more positive policy statement than in September, the Fed also dropped its reference to the slow global economy posing a threat to US activity. The Fed said it was still keeping an eye on global economic and financial developments, and also noted a recent slowdown in job creation and still-
  
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• Massa allies lean toward opposition challenger in Argentina run-off

  28-10-2015 19:33 via news.yahoo.com
  
  By Richard Lough and Maximilian Heath BUENOS AIRES (Reuters) - Ruling party candidate Daniel Scioli's hunt for swing voters in Argentina's presidential run-off vote suffered a blow on Wednesday when two of defeated candidate Sergio Massa's top allies said they would not vote for him. Massa's running-mate Jose Manuel De la Sota said the leftist government of outgoing leader Cristina Fernandez had been "anti-federal and authoritarian" in style. Roberto Lavagna, a former economy minister, said he w
  
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• Fed willingness to consider rate hike squashes stock rally

  28-10-2015 19:27 via news.yahoo.com
  
  NEW YORK (AP) — Bond yields rose and the stock market gave up an early gain after the Federal Reserve indicated that it would consider raising its benchmark interest rate at its next meeting in December.
  
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• Fed puts December firmly on the agenda for rate hike

  28-10-2015 19:23 via news.yahoo.com
  
  The U.S. Federal Reserve kept interest rates unchanged on Wednesday and in a direct reference to its next meeting put a December rate hike firmly in play. Investors had expected the Fed to remain pat on rates, but the overt reference to December came as a surprise. The Fed also downplayed recent global financial market turmoil and said the slower pace of growth in the labor market hadn't undermined its faith in the ability of the economy to create jobs.
  
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• Apple's success bittersweet for Europe-listed suppliers

  28-10-2015 19:18 via news.yahoo.com
  
  Dialog, Manz and AMS shares rose 3 to 6 percent after Apple, the world's most profitable company, painted a rosy picture for its new iPhone, beating Wall Street's sales and profit forecasts. Despite Apple's strong show, shares in its three suppliers have been down 16-27 percent this week following a cautious outlook. Manz lowered its sales and profit forecasts, AMS AMS saw softer demand patterns in consumer and non-consumer markets and Dialog saw its gross margin largely unchanged this year.
  
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• Ontario Securities Commission chairman Wetston to step down - WSJ

  28-10-2015 19:05 via news.yahoo.com
  
  (Reuters) - The chairman of the Ontario Securities Commission, Howard Wetston, plans to retire on Nov. 15, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. Wetston, who has been chairman of Canada's largest securities regulator since 2010, had been considering stepping down for months and recently advised staff he would leave mid-month, the WSJ reported. A permanent replacement has not been named, but OSC Vice-Chair Monica Kowal is expected to
  
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• BRIEF-Indo Internacional to delist on Oct. 29 - CNMV

  28-10-2015 18:55
  Oct 28 (Reuters) - Comision Nacional del Mercado de Valores
  (CNMV):
  
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• BRIEF-Martinsa Fadesa to delist on Oct. 29 - CNMV

  28-10-2015 18:54
  Oct 28 (Reuters) - Comision Nacional Del Mercado de Valores
  (CNMV):
  
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• Cameron breaks cover on EU, rejects Norway model

  28-10-2015 18:45 via news.yahoo.com
  
  By Kylie MacLellan LONDON (Reuters) - Prime Minister David Cameron on Wednesday launched his most open defence to date of Britain remaining in the European Union, telling Eurosceptics that EU-outsider Norway was no model to emulate. Speaking in parliament ahead of a trip to Iceland where he is expected to make the same point, Cameron said he would "guide very strongly against" seeing Britain's European future being akin to that of Norway, a successful economy that exists closely with but outside
  
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• Global shares gain on Apple, Riksbank stimulus; Fed statement due

  28-10-2015 17:42 via news.yahoo.com
  
  U.S. and European stocks rose on Wednesday ahead of the Federal Reserve's afternoon decision, which investors hope will clarify the central bank's rate hike plans. The Fed is set to keep U.S. rates at their long-term record lows and may struggle to convince skeptical economists that they could still go up before the end of the year in the face of U.S. and global economic headwinds. Futures contracts suggest a low probability that the Fed will be raising rates before the end of the year.
  
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• U.S. on track to grow 1.1 percent in third-quarter: Atlanta Fed

  28-10-2015 17:28 via news.yahoo.com
  
  The U.S. economy is on track to grow 1.1 percent in the third quarter after data showed a shrinkage in the country's trade deficit in goods in September, the Atlanta Federal Reserve's GDPNow forecast model showed on Wednesday. This was a faster growth rate from the regional Fed's prior estimate of 0.8 percent on Tuesday, the Atlanta Fed said on its website. This meant a smaller 0.4 percent drag from trade on gross domestic product in the third quarter versus a prior estimate of 0.7 percent, the
  
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• Wall Street higher on Apple, energy stocks; Fed awaited

  28-10-2015 17:26 via news.yahoo.com
  
  Wall Street was boosted by gains in Apple and energy stocks on Wednesday, ahead of the Federal Reserve's policy statement later in the day. Apple sold 48 million iPhones in the latest reported quarter and reported a near doubling of revenue from China, allaying concerns about its business in the world's second-largest economy. The stock was up 2 percent at $116.87, providing the biggest boost to the S&P 500 and the Nasdaq Composite.
  
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• Hit by scandal, VW posts first quarterly loss in at least 15 years

  28-10-2015 17:08 via news.yahoo.com
  
  By Andreas Cremer BERLIN (Reuters) - Volkswagen posted its first quarterly loss in at least 15 years on Wednesday, hit by a 6.7 billion euros (5 billion pounds) charge to cover the cost of rigging diesel emissions tests, and said the final bill was likely to be higher. Almost six weeks after it admitted using illegal software to falsify U.S. diesel emissions tests, Europe's biggest carmaker is under pressure to identify those responsible, fix up to 11 million affected vehicles and convince regul
  
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• US economy likely crawled last quarter but outlook brightens

  28-10-2015 17:06 via news.yahoo.com
  
  WASHINGTON (AP) — WASHINGTON — The U.S. economy has resembled an especially dizzying roller-coaster ride this year, with a hurtling dive followed by a steep climb leading to yet another slide.
  
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• Downgrade potential in emerging markets elevated warns S&P

  28-10-2015 16:39 via news.yahoo.com
  
  The potential for credit rating downgrades of emerging market countries and companies remains elevated, Standard & Poor's said on Wednesday. The ratings on nearly 28 percent of companies in emerging markets were on downgrade warnings it added, while for the EEMEA bloc is was even higher at 38 percent.
  
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• Wall St. higher on Apple, energy stocks; Fed awaited

  28-10-2015 16:28 via news.yahoo.com
  
  Apple sold 48 million iPhones in the latest reported quarter and reported a near doubling of revenue from China, allaying concerns about its business in the world's second-largest economy. The stock was up 2 percent at $116.87, providing the biggest boost to the S&P 500 and the Nasdaq Composite. The Fed's statement is due at 2:00 p.m. ET, after its two-day policy meeting ends.
  
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• Zambia's kwacha falls 3 pct as copper slips, energy crunch weighs

  28-10-2015 16:20 via news.yahoo.com
  
  Zambia's kwacha fell more than 3 percent on Tuesday as the outlook for the copper producer's economy continued to darken, with low commodity prices and power shortages taking their toll. By 1420 GMT, the currency of Africa's second-largest copper producer had slipped 3.01 percent to 12.5050 per dollar, as metal prices were hit by fears over demand fueled by the economic slowdown in China. Copper prices on the London exchange shed nearly 1 percent in early trade as concerns over China's ability t
  
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• Global shares rise as Riksbank, Apple help ease Fed wait

  28-10-2015 16:03 via news.yahoo.com
  
  European stocks rose for the first time in three sessions on Wednesday after Sweden's central bank increased its bond buying while other assets were steady as investors wait to see if the Federal Reserve will clarify its rate hike plans later. The Fed is set to keep U.S. rates at their long-term record lows and may struggle to convince skeptical economists that they could still go up before the end of the year in the face of U.S. and global economic headwinds. The Riksbank's decision to ramp up
  
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• Fiat Chrysler hit by $670 million charge for U.S. recalls

  28-10-2015 16:03 via news.yahoo.com
  
  By Agnieszka Flak MILAN (Reuters) - Shares in Fiat Chrysler Automobiles (FCA) were hit on Wednesday after it made a surprise provision against the costs of vehicle recalls in North America, overshadowing a 35 percent rise in its third-quarter underlying operating profit. After listing Ferrari to much fanfare on Wall Street last week and raising nearly 1 billion dollars from selling 10 percent of the sportscar maker, the market focus has returned to FCA's main business and its high debt, an ambit
  
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