Here's what changed in the new Fed statement
This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policymaking meeting on Nov. 3.
Text removed from the November statement is in red with a horizontal line through the middle.
Text appearing for the first time in the new statement is in red and underlined.
Black text appears in both statements.
Man hit by Denver school bus Wednesday morning dies at local hospital.
A Denver school bus driver hit a pedestrian on Wednesday morning, and the man later died at a local hospital.
The incident happened at East Evans Avenue and South Oneida Street, Denver police said in an 8:07 a.m. tweet. No children were on the bus at the time of the collision.
The school bus was westbound on East Evans Avenue at the time of the collision and the man, who was not identified, was crossing the avenue in the middle of the block, police said. An investigation is ongoing.
Lennar Corp. Profit Advances In Q4, but misses estimates
Lennar Corp. (LEN.B) announced earnings for its fourth quarter that increased from last year but missed the Street estimates.
The company’s earnings came in at $1.19 billion, or $3.91 per share. This compares with $0.88 billion, or $2.82 per share, in last year’s fourth quarter.
Analysts on average had expected the company to earn $4.15 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 23.4% to $8.43 billion from $6.83 billion last year.
Lennar Corp. earnings at a glance:
-Earnings (Q4): $1.19 Bln. vs. $0.88 Bln. last year.
-EPS (Q4): $3.91 vs. $2.82 last year.
-Analyst Estimate: $4.15
-Revenue (Q4): $8.43 Bln vs. $6.83 Bln last year.
What Twitter is saying about the Denver’s wind gusts
As 90-mph winds sweep through Denver on Wednesday, Denverites do what they do best when a big event happens: they share their thoughts on Twitter.
Many tweets have focused on the winds’ intensity, and some have feature video of it. Traffic and commute reports are among the top tweets.
Others captured wind footage from home, mostly of damage from fallen branches and trees.
One Twitter user wondered what Robin would say to the Caped Crusader about today’s wind.
But some were able to find the funny side to the hurricane-force winds.
Lastly, one woman doesn’t like that her partner tweeted about her dental appointment.
China Inflation Accelerates; Factory Gate Inflation Slows
China’s consumer price inflation accelerated notably in November driven by the rebound in food prices, while factory gate inflation slowed, official data showed on Thursday.
Consumer price inflation rose to 2.3 percent in November from 1.5 percent in October, the National Bureau of Statistics reported. However, this was slower than the economists’ forecast of 2.5 percent.
Food prices advanced 1.6 percent, reversing last month’s 2.4 percent decrease. Fresh vegetable prices surged 30.6 percent. At the same time, non-food prices were up 2.5 percent.
Nonetheless, core inflation that excludes food and energy prices eased to 1.2 percent from 1.3 percent in the previous month.
The headline rate will drop back below 2 percent before long, with vegetable prices already reversing some of their gains, Julian Evans-Pritchard, an economist at Capital Economics, said.
Inflation concerns are not likely to hold back the People’s Bank of China from further loosening measures including policy rate cuts, the economist added.
Another report from the NBS showed that producer prices grew 12.9 percent annually after climbing 13.5 percent in October. Economists had forecast prices to 12.6 percent.
Factory gate inflation will continue to drop back over the coming months, Capital Economics’ economist noted. Admittedly, the omicron variant could lead to further disruptions to supply chains. But its main impact so far has been to push down oil prices.
European Economics Preview: Germany Foreign Trade Data Due
Foreign trade data from Germany is due on Thursday, headlining a light day for the European economic news.
At 2.00 am ET, Destatis is slated to issue Germany’s external trade figures. Exports are forecast to grow 0.8 percent on month and imports to climb 0.3 percent in October.
In the meantime, foreign trade from Denmark and producer price figures from Lithuania are due.
At 3.00 am ET, the Swiss State Secretariat for Economic Affairs publishes Winter economic forecasts.
Also, foreign trade reports from Slovakia and Hungary are due. Hungary’s trade deficit is seen at EUR 62 million in October versus a shortfall of EUR 128 million in September.
In 2005, an iPod was sold every two seconds. See how CNN covered the phenomenon
(CNN Business)Apple will delay bringing its workers back to the office until a “yet to be determined” date, while giving all of its corporate and retail employees $1,000 to buy equipment for their home offices.
The development was shared with Apple employees in an email from CEO Tim Cook on Wednesday, according to multiple reports. Apple (AAPL) confirmed details of the email to CNN Business.
The Silicon Valley giant’s move comes amid a rise in Covid-19 cases and concerns about the spread of the Omicron variant. Earlier this week, Apple reinstated a mask mandate at all of its US stores and is reportedly also closing some of them because of a surge in cases.
Several companies including Google (GOOGL), Lyft (LYFT), Uber (UBER) and Amazon (AMZN) have also pushed back their reopening dates multiple times as uncertainty around the pandemic continues.
Early on in the pandemic, several companies including Google and Facebook also offered their employees $1,000 bonuses to help with work-from-home expenses.