ORANGE, Calif./PHILADELPHIA (Reuters) – The Federal Reserve could well raise interest rates as soon as June, two top U.S. central bankers said on Friday, so long as economic data strengthens as expected from a dismal first quarter. The Fed has kept interest rates near zero since December 2008. The key, both Loretta Mester, president of the Cleveland Fed, and John Williams, president of the San Francisco Fed, said, is that
U.S. auto industry sales in April came in below expectations as Asia’s major carmakers’ results disappointed, offsetting strong gains for trucks and SUVs made by General Motors (GM.N) and Ford (F.N). Sales reported on Friday by Japan’s Nissan , Toyota and Honda , as well as the combined results for South Korea’s Hyundai and its Kia affiliate, all missed expectations. Industry sales in April finished at 1,454,951 vehicles, up 4.6
The Asian Development Bank (ADB) said on Saturday that it was ready to work with the China-led Asian Infrastructure Investment Bank (AIIB) so long as standards were met, while also announcing changes to boost its own lending capacity by billions of dollars. China has said 57 countries have signed up to become founding members of the AIIB, but so far the United States has chosen to remain outside the bank,
The recalls include certain Ford Fiesta, Fusion and Lincoln MKZ models. The company recalled about 390,000 of the three vehicle models in North America last week to fix the same issue. The driver’s door can potentially unlatch while the car is in motion, increasing the risk of injury, Ford said. Ford has said it is aware of two incidents in which an unlatched door bounced back and struck the driver
Forget stocks-here’s what makes the best sale now, traders say.
Join Midday Movers live now for the latest news on the markets, the economy and the biggest stories of the day.
Yahoo Finance’s Midday Movers is live each weekday at 12pm ET, covering all the latest news on the markets, the economy and the biggest stories of the day.
Automakers reported rising U.S. vehicle sales in April, though some large companies missed analysts’ estimates. Low fuel prices continue to drive demand for pickups and sport utility vehicles.
The billionaire investor believes the Fed won’t be in any hurry to increase rates-in part because of the softer U.S. economy.
The short seller who sparked allegations that Lumber Liquidators Holdings Inc. sold Chinese-made flooring with toxic levels of formaldehyde is now accusing Lowe’s Cos. of similar misdeeds. “New evidence has come to my attention that Lumber Liquidators may not have been the lone violator when it comes to laminate floor sourcing,” Xuhua Zhou said in a report posted on the Seeking Alpha website on Friday. Zhou — who is shorting
