The Bank of England unlikely to join peers in cutting rates this month as it’s stymied by stubborn service sector inflation.
Merck & Co. Inc. said Wednesday the U.S. Food and Drug Administration has approved its blockbuster cancer drug Keytruda as a treatment for malignant plural mesothelioma, a rare cancer associated with asbestos.
General Mills Inc.’s stock was down 2.7% in premarket trading on Wednesday after the packaged food giant said its first-quarter profit fell 14% due to inflation and pressure on margins.
Oil futures fell Wednesday, feeling pressure after industry data showed a rise in U.S. crude and product inventories as investors awaited an expected Federal Reserve rate cut.
The directors said the decision comes after months of work that failed to result in an actionable plan that meets the interests of non-affiliated shareholders.
Shares of Intuitive Machines Inc. are skyrocketing Wednesday, lifted by the award of a NASA contract that could be worth up to $4.82 billion.
Mortgage applications rose 14.2% in the last week, the Mortgage Bankers Association said.
The Fed’s interest-rate cuts will soften the prices consumers pay for debt — but people may not see an impact on their payments for a while.
