The S&P 500 reached a session high after Jerome Powell said the central bank is not considering cutting back on asset purchases that have helped the economy recover from the pandemic.
“No news is good news as far as the market is concerned because it means the Fed will remain accomodative for the near future,” said Ellen Hazen, portfolio manager and principal at F.L.Putnam Wealth Management.
was among the biggest drags, dropping to a three-week low after the software maker failed to deliver the blockbuster results some analysts were looking for.
economic recovery and the nation’s war against the coronavirus, but said it was too early to consider rolling back its emergency support with so many workers still left jobless by the pandemic.
Despite the improving economy, the Fed repeated the guidance it has used since December, saying it must see “substantial further progress” towards its inflation and employment goals before stepping back from its monthly bond purchases.
Major stock-market benchmarks ended with small losses Wednesday after the Federal Reserve, as expected, left interest rates near zero and indicated it was in no rush to begin thinking about withdrawing monetary support to the economy.
Germany is raising its economic growth forecast for the year on the expectation of the gradual lifting of coronavirus restrictions and an anticipated rise in domestic spending, the economy minister said Tuesday.
The inheritance tax bill – one of the largest-ever in South Korea and globally – has been closely watched due to its potential to dilute the family’s controlling stake in Samsung.
Facebook Inc.
Cadence Design Systems was founded in 1988 after the merger of ECAD and SDA Systems. Cadence is known as an electronic design automation, or EDA, firm that specializes in developing software, hardware, and intellectual property that automates the design and verification of integrated circuits or larger chip systems. Historically, the firm’s tools have been relied on by semiconductor firms, but there has been a shift toward other nontraditional “systems” users given the development of the Internet of Things, artificial intelligence, autonomous vehicles, and cloud computing.
It warns in the draft that it could cancel government contracts granted to firms that gain an unfair advantage from such subsidies.European officials are seeking the power to inspect companies’ offices outside of Europe, with the permission of the company and the knowledge of the foreign state, according to the draft.Regulators suggest ways that companies could allay concerns over subsidies, including granting rivals access to infrastructure, licensing on fair terms or publishing research.
Kebab chef Kadir Oner hoped to boost his new business by accepting payment in cryptocurrencies, but a ban by Turkish authorities will force him next month to fall back on payment methods as traditional as his spit-roasted meat.
The measures highlight an increased focus on servicing the domestic market and come as the country’s steel mills grapple with raw material costs that have surged to historic highs.China churns out half the world’s steel, and is the biggest exporter, but has vowed to reduce output in 2021 as part of a drive to contain carbon emissions from one of its dirtiest industries.