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Mitsubishi says U.S. mileage ratings for its cars are correct

(Reuters) – Mitsubishi Motors Corp, which has admitted manipulating fuel economy tests for mini-vehicles in Japan, on Wednesday said its vehicles for the model years 2013 to 2017 sold in the United States have correct mileage ratings. Mitsubishi said it has gone back and re-tested the models from those model years sold in the U.S. market. “Our findings confirm that fuel economy testing data for these U.S. market vehicles is accurate and complies with established EPA procedures,” the company said in a

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Mitsubishi says U.S. mileage ratings for its cars are correct

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Oil jumps to 2016 highs as dollar drops on Fed decision

By Barani Krishnan NEW YORK (Reuters) – Oil prices jumped about 3 percent on Wednesday, hitting new highs for 2016 as the dollar weakened after the Federal Reserve announced it would leave U.S. interest rates unchanged. Oil had risen early, the day after an industry group said U.S. crude inventories had dropped in the latest week. In early afternoon, the Fed announced it was leaving interest rates unchanged, and issued a statement implying it

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Oil jumps to 2016 highs as dollar drops on Fed decision

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After massive drop, is Apple cheap enough?

By Rodrigo Campos NEW YORK (Reuters) – If Apple could cash in the value it lost in the first minute of trading on Wednesday, it would be nearly enough to buy General Motors, Target or Caterpillar. “I would not be surprised in…

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After massive drop, is Apple cheap enough?

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Fed signals no rush to hike rates as economy hits soft patch

The Federal Reserve left interest rates unchanged on Wednesday, but kept the door open to a hike in June while showing little sign it was in a hurry to tighten monetary policy amid an apparent slowdown in the U.S. economy. “The committee continues to closely monitor inflation indicators and global economic and financial developments,” the Fed said following a two-day meeting. Fed policymakers in March forecast two hikes

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Fed signals no rush to hike rates as economy hits soft patch

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Fed’s Williams eyes two 2016 rate hikes: Fox Business Network

San Francisco Fed President John Williams said Thursday that at least two interest-rate hikes this year is the “right course” so long as the U.S. economy continues to grow, businesses add jobs, and inflation picks up as he expects. “If the …

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Fed’s Williams eyes two 2016 rate hikes: Fox Business Network

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Fed’s Williams urges U.S. central bank to stay on track with rate rises

“Others' economic fates do not spell our own,” Williams said in prepared remarks before an audience at the National University of Singapore. The U.S. central bank left interest rates unchanged two weeks ago and signaled its cautiousness by forecasting two further rate hikes this year, down from four at its December meeting, when the Fed raised rates from near zero for the first time in almost a decade.

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Fed’s Williams urges U.S. central bank to stay on track with rate rises

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Fed holds steady, eyes two rate hikes this year

The Federal Reserve held interest rates steady on Wednesday and indicated that moderate U.S. economic growth and “strong job gains” would allow it to tighten policy this year, with fresh projections showing policymakers expected two quarter-point hikes by the year's end, half the number seen in December. Inflation picked up in recent months,” the Fed said in a …

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Fed holds steady, eyes two rate hikes this year

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Citigroup, Wells Fargo gird for loan losses as oil price dives

Wells Fargo & Co raised provisions against soured assets by more than 70 percent, nearly half of them for oil and gas loans, to ensure it is covered should prices stay at current levels for the rest of the year. The San Francisco-based bank, a major lender to the U.S. energy industry, said it and other banks were talking to borrowers, including production companies and oil services firms, about how to navigate the crunch. Citigroup Inc set aside $250 million to cover losses related to its energy portfolio …

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Citigroup, Wells Fargo gird for loan losses as oil price dives

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Commerzbank sues BNY Mellon, Wells Fargo, HSBC over mortgage losses

By Nate Raymond NEW YORK (Reuters) – Commerzbank AG has sued four banks in the United States, claiming that they failed to properly monitor billions of dollars in toxic mortgage-backed securities acquired by the German lender before the 2008 financial crisis. Bank of New York Mellon Corp and units of Deutsche Bank AG, Wells Fargo & Co and HSBC Holdings Plc were named in the…

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Commerzbank sues BNY Mellon, Wells Fargo, HSBC over mortgage losses

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Northrop wins $93 million deal to build drone for smaller warships

Northrop Grumman Corp has won a contract worth $93.08 million to build a full-scale demonstrator of a new unmanned spy plane – a flying wing with large counter-rotating propellers – that would take off and land on destroyers and frigates, the Pentagon said on Thursday. Northrop has been working on a design for the…

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Northrop wins $93 million deal to build drone for smaller warships

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