The day we've all been waiting for has finally arrived. The Fed is expected to hike interest rates when its two-day policy meeting concludes later today, marking the end of a decade of near zero interest rates. But how much and how fast could the Fed raise rates in the coming months? The answer to that question is likely to come from the triple-dose of news the central bank will issue this afternoon - a policy statement, economic forecasts and a news conference by Chair Janet Yellen. Stocks are green across the globe ahead of the big decision. (SA)
The Justice Department has informed oil service companies Halliburton and Baker Hughes that the remedies they've offered so far to mitigate their proposed merger's affect on competition are inadequate, although it will continue to assess further proposals. As a result, the companies have agreed to extend their merger deadline to next April (Bloomberg).
Some of the nation’s largest Apartment owners - including REITs Equity Residential and Camden Property Trust, are in discussions about allowing tenants to market rooms through Airbnb's network in exchange for a slice of the revenue. Already at odds with Airbnb, hotel owners may not be too pleased with even more apartments in big cities being essentially converted into hotel rooms. (WSJ).
Lawmakers have agreed to lift the four-decade-old ban on crude oil exports as part of a spending and tax package that will be voted on as early as Thursday. The spending measure also includes temporary wind and solar power tax credits. Lifting the crude export ban has been a key goal for Republicans, who have said American oil producers should get expanded access to the international market, at a time of low prices and new competition from Iranian oil. (SA)