Hello, friends and Coins2Day readers.
All eyes on the Fed today, as the Federal Open Market Committee concludes its two-day meeting with a policy statement and a press conference featuring Fed Chair Janet Yellen. We’re also creeping closer to the iPhone 6 release, and the reviews for the new gadget are looking good. Here’s what else you need to know about in business news today.
1. Fed Chair Yellen speaks
The dollar is rising in currency markets ahead of today’s meeting and press conference with Fed Chair Yellen, according to Reuters. Investors will be looking for signs that the Fed is moving closer to raising interest rates, which is currently expected to happen sometime next year. When reporters get to grill Yellen this afternoon, her language will be carefully scrutinized. (Read our excellent article on the Fed chief’s inflation fight: Janet Yellen vs. The Inflation Zombies).
2. IPhone reviews are in.
And they’re generally pretty good. Though some have griped that the iPhone 6 is a bit too small and the iPhone 6 Plus is a bit too big, most techies are happy with the new devices. David Pogue from Yahoo called them “absolutely terrific.”
3. Occupy Wall Street is back
Today is the third anniversary of the beginning of the Occupy Wall Street movement that was all over the news in 2011. According to one progressive website, protestors will be gathering where it all began, Zuccotti Park in downtown Manhattan, to mark the anniversary.
4. Sony sees a big loss
The Japanese tech giant reports that it is expecting a $2 billion loss this year, owing mostly to its struggling cell phone business. The company also cancelled its dividend program for the first time since it went public in 1958, according to ABC News.
5. China boosts its banking system
China is making a big move for economic stimulus. The Chinese Central Bank is lending $16.2 billion to each of the top five lenders in the country in hopes of giving the economy, which has slowed over the summer, a boost, according to the New York Times.