General News

By Michael S. Derby

(Reuters) -The Federal Reserve announced plans on Wednesday to slow the speed of its balance sheet drawdown to ensure this process does not create undue stress in financial markets.

The Fed said that starting on June 1 it will reduce the cap on Treasury securities it allows to mature and not be replaced to $25 billion from its current cap of up to $60 billion per month. The Fed left the cap on how many mortgage-backed... (continue reading...)

By Yasin Ebrahim

Investing.com -- The Federal Reserve kept interest rates steady on Wednesday, and signaled that rates could likely remain higher for longer than previously expected amid a lack of progress on slowing inflation.

The Federal Open Market Committee, the FOMC, kept its benchmark ratein a range of 5.25% to 5.5%.

The Fed has kept rates in the current range for the sixth-straight session as it continues to assess incoming to economic data to gauge whether... (continue reading...)

By Joseph White, Aditya Soni and Kevin Krolicki

(Reuters) - Just over a year ago, Elon Musk shared the stage at Tesla's investor day in Texas with 16 executives who gave detailed presentations on the company's technology and growth plans, then lined up behind their boss in a show of solidarity.

"We've obviously got significant bench strength here," Musk said at the time, responding to investor concerns that the world's most valuable... (continue reading...)

By David Shepardson

WASHINGTON (Reuters) -The Federal Communications Commission is moving to prevent Huawei, ZTE and other foreign companies deemed to pose U.S. national security concerns from certifying wireless equipment, officials told Reuters on Wednesday.

The FCC plans to vote this month on a bipartisan proposal to ensure that telecommunications certification bodies and test labs that certify wireless devices for the U.S. market are not... (continue reading...)

By Allison Lampert

(Reuters) -Spirit AeroSystems said it has developed a plan that gives it “a high degree of confidence” to meet U.S. planemaker Boeing's rate and quality demands for parts for the 737 MAX jet, the company told Reuters on Wednesday.

Boeing is under pressure to restore slumping production of its strong-selling narrowbody jet to 38 per month in the second half of the year as it grapples with a sprawling safety crisis... (continue reading...)