Doug Nidiffer, chairman of the board for C&K Market Inc., holds a ribbon outside the newly remodeled Chetco Pharmacy and Gifts on Chetco Avenue Saturday as Brookings City Council Ron Hedenskog and City Manager Gary Milliman, right, look on. C&K Market purchased the store last year. Submitted photo
Federal Reserve Chair Janet Yellen was clearer than ever on Friday that the central bank was poised to raise interest rates this year, as the U.S. economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned. Yellen spoke amid growing concern at the Fed about volatility in financial markets once it begins to raise rates, and a desire to begin coaxing skeptical investors toward accepting the inevitable: that a 6-1/2-year stretch of near-zero interest rates would soon end. The confident tone suggested the Fed wants to set the stage as early as possible for its first rate rise in nearly a decade, with Yellen stressing that monetary policy must get out ahead of an economy whose future looks bright.
SAN FRANCISCO/LONDON (Reuters) - French telecommunications group Altice SA is talking to several banks about raising debt for a potential bid for Time Warner Cable Inc, the second-largest U.S. cable operator, according to people familiar with the matter. The talks are an important step for Altice in putting together a bid for Time Warner Cable, which is also being courted by Charter Communications Inc after Comcast Corp abandoned its $45.2 billion offer for Time Warner Cable last month over U.S. antitrust concerns. Altice is in discussions with banks including JPMorgan Chase & Co, Nomura Co Ltd, BNP Paribas SA, Societe Generale, Barclays Plc and Royal Bank of Canada about a financing package to support a proposed acquisition, the people said.
In a speech, Yellen said a rate hike would be warranted this year if the economy keeps improving as expected. Investors have enjoyed an extended period of low volatility and steady gains, but with the Fed on track to raise rates this year and major indexes near records, the market could get a bit choppier in coming weeks. ?I think what Janet Yellen and all of the Fed officials have been doing is very carefully choreographing their move.