WINNIPEG — The following is a glance at the news moving markets globally.
U.S. Federal Reserve to meet, make policy announcement
Members of the U.S. Federal Reserve are starting their meeting today and are expected to conclude tomorrow.
Markets fell ahead of the meeting because investors were uncertain about the outcome of an interest rate decision.
Oil giant BP shrinks once again
Major oil company BP has announced a third round of spending cuts and asset sales over the course of the next few years.
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U.S. grains: Soybean futures jump on hopes for US export demand
Chicago Board of Trade soybean futures jumped on hopes for U.S. export demand on Wednesday, while corn futures rose for a third day to extend a recovery from contract lows, analysts said.
The moves by the company were to combat losses from an extended period of low oil prices and a hefty US$54 billion lawsuit.
Slowing U.K. economy outpaces analyst expectations
Britain’s economic growth has slowed more than expected as third-quarter gross domestic product growth dropped to 0.5 percent in the three months leading up to September, compared with 0.7 percent in the previous time frame.
Economists had expected the GDP to slow to 0.6 percent.
Chemical company says weak ag market caused earnings drop
DuPont Co., a U.S. chemical company, said weaker agricultural sales strongly contributed to a decrease in third-quarter earnings.
A strong U.S. dollar and weak emerging markets also added to the decline.
In the most recent quarter, DuPont reported a net income of US$235 million, or 26 cents per share, a steep decline from the $433 million, or 47 cents per share, reported in the same time frame the previous year.
