Business News

The fed's dovish stance in its latest FOMC meeting propelled stocks to near record highs yesterday, while the dollar plumbed a one month low.  The markets were reflecting a more soothing than expected message from the Fed.  (FT)

U.S. consumers are apparently not "loving it".  This year will be the first year in McDonald's 60 year history that the fast-food chain will close more stores in its home market than it will open.  The company still expects to open 125 restaurants this year, and still has over 14,000 domestic locations. (Reuters)

Fitbit shares soared on their debut yesterday, as the company's valuation skyrocketed to north of $6bn within the first 30 mins of trading yesterday on the NYSE.  The stock finished 48% higher on the day, and the performance ranked Fitbit as the best performing flotation of the year, just outpacing GoDaddy. (FT)

It's not such a wonderful life in Greece these days.  Depositors have pulled over $2bn euros from Greek banks the last 3 days in a rush for the exits in anticipation of a Greek default.  The ECB told a meeting of Eurozone finance officials today that it wasn't sure that Greek banks would be capable of opening on Monday. (CNBC)   

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