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Fed Minutes Suggest Interest Rates To Remain Higher For Longer

With recent data not increasing confidence inflation is moving sustainably toward 2 percent, the minutes of the latest Federal Reserve meeting suggest officials expect to maintain interest rates at current levels longer than previously thought.
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Swiss Market Ends Lower For 2nd Straight Day

Swiss Market Ends Lower For 2nd Straight Day

The Switzerland market ended weak on Wednesday, extending losses from the previous session, with investors continuing to take some profits after a long winning run.
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U.S. Dollar Appreciates Ahead Of Fed Minutes

U.S. Dollar Appreciates Ahead Of Fed Minutes

The U.S. dollar was higher against its major counterparts in the New York session on Wednesday, as investors awaited minutes of the U.S. Federal Reserve's latest policy meeting for clues on the timing of the first cut.
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European Stocks Close Lower On Inflation, Interest Rate Concerns

European Stocks Close Lower On Inflation, Interest Rate Concerns

European stocks closed lower on Wednesday, weighed down by data showing a bigger than expected increase in consumer price inflation in the U.K. in the month of April, adding to concerns about the outlook for interest rates, after some hawkish comments from a few Fed officials suggested the U.S. central bank might keep interest rates higher for longer.
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U.S. Existing Home Sales Unexpectedly Extend Pullback In April

U.S. Existing Home Sales Unexpectedly Extend Pullback In April

Existing home sales in the U.S. unexpectedly saw further downside in the month of April, according to a report released by the National Association of Realtors on Wednesday. NAR said existing home sales slumped by 1.9 percent to an annual rate of 4.14 million in April after tumbling by 3.7 percent to a revised rate of 4.22 million in March.
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Hovnanian Enterprises Net Profit Rises 48.9%

Hovnanian Enterprises Net Profit Rises 48.9%

Homebuilder Hovnanian Enterprises Inc. (HOV) reported Wednesday that net income for the second quarter increased 48.9 percent to $50.8 million or $6.66 per share from $34.1 million or $4.47 per share in the prior-year quarter.
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Anglo American And BHP Major Shareholder PIC Demands Substantial Revision Of BHP Proposal For Anglo

Anglo American And BHP Major Shareholder PIC Demands Substantial Revision Of BHP Proposal For Anglo

Public Investment Corp. or PIC, a major shareholder of both Anglo American plc (AAUKY.PK, AAL.L) and BHP Group (BHP), on Wednesday said it requires a meaningful revision of the current BHP proposal for Anglo American to "reflect both the embedded value of existing Anglo assets and the future optionality and benefits that BHP can derive, specifically from Anglo's unlisted assets."
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Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares are likely to open on a slightly negative note Wednesday morning as energy and materials sectors may find the going somewhat tough due to weak commodity prices.
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Biogen To Buy Human Immunology Biosciences In Deal Valued At Up To $1.8 Bln

Biogen To Buy Human Immunology Biosciences In Deal Valued At Up To $1.8 Bln

Biogen Inc. (BIIB) and privately-held biotechnology company Human Immunology Biosciences or HI-Bio, announced Wednesday the companies have entered into a definitive agreement under which Biogen has agreed to acquire HI-Bio for $1.15 billion upfront and up to $650 million in potential milestone payments.
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UK Inflation Slows Less Than Expected To 2.3%

UK Inflation Slows Less Than Expected To 2.3%

UK consumer prices rose more than expected in April due to the stickiness of services inflation, which would possibly delay the timing of the first interest rate cut. Consumer prices rose 2.3 percent on a yearly basis in April, slower than the 3.2 percent increase in March, the Office for National Statistics reported Wednesday.
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