A day after US Secretary of State Antony Blinken left Beijing with a a joint commitment to ease tensions with China, his own boss undercut him with an off-the-cuff remark likening Xi Jinping to a “dictator.”
US stocks slid after a renewed warning from Federal Reserve Chair Jerome Powell that higher rates would be needed to combat inflation, thwarting bets that the US central bank was nearing the end of its tightening cycle.
The US Federal Trade Commission sued Amazon.com Inc. Wednesday, alleging the e-commerce giant duped consumers into signing up for its Prime membership service and deliberately made it hard to cancel.
Peloton Interactive Inc. dropped the most in nearly six weeks on Wednesday after Wolfe Research LLC downgraded the fitness company to a sell-equivalent rating, saying its “path to growth doesn’t seem to exist.”
Federal Reserve Bank of Atlanta President Raphael Bostic said he supports holding the central bank’s target-rate level for the rest of 2023 and that it’s prudent to give time for inflation to ease in response to past moves.
Federal Reserve governors Philip Jefferson and Lisa Cook said that any updates to bank regulations following the collapse of four lenders this spring should be tailored according to an institution’s size.
Intelsat SA has ended negotiations to combine with SES SA, people familiar with the matter said, a combination that would have created a satellite giant to help fend off growing competition.
Investigators have been unable to find the cockpit sound recorder from a private jet that crashed earlier this month in Virginia, complicating efforts to understand why the pilot became incapacitated and flew across much of the US East Coast while unconscious.
A US Senate panel investigating the merger of PGA Tour and Saudi-backed LIV Golf asked officials from the organizations to testify publicly about the deal next month.
Bayview Asset Management, an investment firm known for its focus on mortgages, debuted in the auto bond market this year, selling one of the largest auto asset-backed securities deals ever last week.
