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Federal Reserve hikes interest rates and predicts more

The Federal Reserve has voted to raise the target for its benchmark interest rate by 0.25%. The move lifts the target to 1.75%-2%. There could be more hikes on the way: a majority of Fed officials also forecast two more rate rises this year, one more than previously predicted. “The main takeaway is that the economy is doing well,” said Federal Reserve Chair Jerome “Jay” Powell.

Comcast kicks off a bidding war over Fox

US cable giant Comcast has launched a $65bn cash bid for 21st Century Fox’s entertainment businesses, kicking off a bidding war with Disney which has offered $52bn in stock. Comcast says its cash bid – of $35 per share – for most of Fox’s assets is 19% higher than the value of Disney’s offer. In a statement, Fox said it would “carefully review” the “unsolicited” offer.

Ryanair’s Southend airport ‘no vote of confidence in UK’

Ryanair will open a new base at London Southend airport in April 2019. The Irish airline expects to carry around a million passengers a year from the Essex airport, to destinations including Spain and Italy. The move comes despite its concerns over Brexit. The airline’s chief commercial officer, David O’Brien, said: “Don’t confuse this great news as some kind of vote of confidence in the future of UK aviation.”

GCHQ to probe Dixons Carphone data breach

GCHQ is investigating the data breach that allowed unauthorised access to 5.9m Dixons Carphone customers’ cards. The National Cyber Security Centre said it was working alongside the chain and other agencies after the attack, which was one of the UK’s biggest data breaches …read more

Source:: The Week – All news

      

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Thursday 14 June 2018

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