Business News

Fed starts a 2-day meeting

Stocks are lower this morning, as the Federal Reserve starts a two-day meeting. Yesterday was flat with the Dow posting its highest close of 2016. (Fox Business News)

Asian stocks closed mixed while we slept, after the Bank of Japan did not introduce new stimulus measures at its latest policy meeting. Stocks in Europe tracked those in Asia. (CNBC)

The Haggen name will live on.  With the sale of 29 of its remaining "core" stores to Albertsons, 15 of the stores in Washington will continue to operate under the Haggen banner. The 15 stores are all original Haggen-operated stores. Albertsons will take the other 14 previously divested stores and move them back to the Albertsons banner. Both Bend stores will return to Albertsons name. (Oregon Live)
Avon is slashing 2,500 jobs and will move its corporate headquarters from New York City to the U.K.. The cosmetics maker will take a $60 million charge for job cuts during the current quarter. This is part of its three-year turnaround program. (AP)

Oil is down 75 cents at $36.25 a barrel. This is a second straight day of losses. The slick stuff is trading lower over concerns that this six-week rally will stall out as markets remain oversupplied. (Reuters)

Gold is down $14 at $1231 a Troy ounce. That is the lowest in two weeks. (CNBC)

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