Latest News on private equities market

Fed sees GDP drop of 6.5% in 2020, pledges at least $120 billion in monthly bond-buying

The U.S. Federal Reserve on Wednesday signaled years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting a 6.5% decline in gross domestic product this year and a 9.3% unemployment rate at year's end.



4 years ago

Instant View: Fed sees GDP falling 6.5% in 2020, keeps rates at zero

The U.S. Federal Reserve on Wednesday signaled years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting a 6.5% decline in gross domestic product this year and a 9.3% unemployment rate at year's end.



4 years ago

S&P 500 turns positive as Fed pledges support

The S&P 500 turned positive on Wednesday after the Federal Reserve repeated its promise of support for the economy.



4 years ago

U.S. May deficit nearly doubles to $399 billion

The U.S. federal budget deficit in May nearly doubled to $399 billion from a year earlier amid continued strong spending on coronavirus relief programs and a 25% drop in receipts, the Treasury Department said on Wednesday.



4 years ago

Fed holds rates near zero — here's exactly what that means for your wallet

For consumers with good credit, historically low interest rates on mortgages and credit cards are an asset. But riskier borrowers are shut out of the relief.

4 years ago

Oil edges higher, even as U.S. inventory rise revives glut worries

Oil recovered its earlier losses on Wednesday, even as U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut due to weak demand.



4 years ago

Mnuchin says U.S. recovery has begun, will gain strength in third, fourth quarter

U.S. Treasury Secretary Steven Mnuchin said on Wednesday that the U.S. economy has already begun to rebound from the coronavirus pandemic and would "improve dramatically" in the third and fourth quarters.



4 years ago

ConcoPhillips CEO says surprised by swift recovery in oil prices

ConocoPhillips Chief Executive Officer Ryan Lance on Wednesday expressed surprise at the quick rebound in U.S. oil prices that slipped into the negative territory in April and said he expects prices to remain volatile in the near term.



4 years ago

Fed vows to support U.S. economy's 'long road' to recovery after dire 2020

The U.S. Federal Reserve on Wednesday signaled it would provide years of extraordinary support for an economy facing a torturous slog back from the coronavirus pandemic, with policymakers projecting a 6.5% decline in gross domestic product this year and a 9.3% unemployment rate at year's end.



4 years ago

U.S. Treasury chief says considering more direct payments in next coronavirus aid bill

U.S. Treasury Secretary Steven Mnuchin said on Wednesday he would seriously consider more direct payments to individuals in the next phase of coronavirus rescue legislation, adding that funds should also be targeted to help sectors struggling to reopen, including hospitality and tourism.



4 years ago

Fiat, PSA $50 billion merger faces lengthy EU antitrust probe: sources

Fiat Chrysler and Peugeot maker PSA face a lengthy EU antitrust investigation after they declined to offer concessions in a bid to allay EU antitrust concerns about their planned $50 billion merger, people familiar with the matter said on Wednesday.



4 years ago

Dollar sinks to three-month lows as Fed keeps easing policy

The dollar extended losses, dropping to a fresh three-month low against a basket of major currencies on Wednesday after the Federal Reserve made no policy changes, as expected, and pledged to continue its asset purchases aimed at stabilizing a U.S. economy that has been ravaged by the novel coronavirus.



4 years ago

U.S. inflation subdued with economy in recession

U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand for goods and services remained subdued amid a recession caused by the COVID-19 pandemic.



4 years ago

U.S. states accuse 26 drugmakers of generic drug price fixing in sweeping lawsuit

Twenty-six drug manufacturers were sued on Wednesday by the attorneys general of most U.S. states and several territories, which accused them of conspiring to reduce competition and drive up generic drug prices.



4 years ago

S&P 500 slips in volatile trade following Fed

The S&P 500 was down slightly in choppy trading on Wednesday after the Federal Reserve repeated its promise of support for the economy but projected a 6.5% decline in gross domestic product this year.



4 years ago