The Federal Reserve should hold interest rates at elevated levels “for a long time” to bring inflation back down to its 2% target, Atlanta Fed President Raphael Bostic said.
The yen surged from the weakest levels in a year versus the dollar amid speculation that Japanese officials were acting to slow the currency’s slide.
SAS AB chose Air France-KLM and private equity firm Castlelake LP to anchor a $1.18 billion investment in the bankrupt Scandinavian flag-carrier, ending a five-month chase for new capital.
Canada’s Lundin Mining Corp. said Chief Executive Officer Peter Rockandel has resigned and will be replaced by president and former director Jack Lundin.
Health-care stocks trading on the 5&P 500 are at their lowest levels since the spring, but one portfolio manager says there are opportunities to be found amid the pressure.
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