BUSINESS NEWS MARCH 15TH, 2016
WALL ST. DIPS AS HEALTHCARE LAGS BEFORE FED STATEMENT
Healthcare and materials stocks pulled Wall Street lower on Tuesday in a second straight day of quiet trading as investors cautiously awaited news from the U.S. Federal Reserve's two-day policy meeting.While the Fed is not expected to raise interest rates at its meeting ending on Wednesday, investors will scour Fed Chair Janet Yellen's comments for clues indicating a path for future rate hikes.
U.S. lAW FIRMS SAYS WILL PURSE VW CLAIMS IN EUROPE
U.S. law firm Hausfeld said it will pursue claims of European customers harmed by Volkswagen's (VOWG_p.DE) emissions scandal, adding to the German automaker's mounting legal challenges.On Monday, German law firm TISAB said 278 institutional investors in Volkswagen filed a 3.26 billion euros ($3.62 billion) lawsuit against the carmaker for what they see as breaches of its capital markets duty in the scandal.
FED SEEN HOLDING U.S RATES FOR NOW, LEAVING DOOR OPEN FOR JUNE HIKE
U.S. Federal Reserve policymakers are seen leaving short-term interest rates unchanged at a two-day policy meeting that began Tuesday, but also to signal that a rate hike is not too far off as long as the job market and inflation continue to improve.The U.S. central bank lifted borrowing costs in December for the first time in nearly a decade, but uncertainty over the impact on the U.S. economy of slower growth in China and Europe since the beginning of the year has driven policymakers to hold off on any further rate hikes since then.