WASHINGTON (AP) - With Wednesday's rate hike by the Federal Reserve, credit card customers will likely be paying more. And so will people with adjustable-rate mortgages or home equity lines of credit. The Fed announced yesterday that it's raising the short-term rate by one-quarter of a percentage point - the third hike since December. Greg McBride, chief financial analyst at Bankrate.com., says consumers are "going to continue to feel it."
LUXEMBOURG (AP) - Greece is hoping to secure more bailout funds to meet a summer debt repayment hump as well as a debt relief deal. Finance ministers from the 19-country eurozone are meeting today. Greece has been promised help on its mountain of debt once its bailout ends next year. The main obstacle to an agreement is a difference of opinion between the eurozone and the International Monetary Fund over Greece's long-term debt outlook.
BRUSSELS (AP) - A power outage has hit Brussels airport, and it's causing chaos during the morning rush hour, with flight delays expected throughout the day. Officials say the outage hit at 5 a.m. local time and has affected the luggage and air conditioning systems. Hundreds of passengers were left outside the terminal at dawn and were allowed inside around two hours later.
NEW YORK (AP) - The real estate firm owned by the family of President Donald Trump's son-in-law Jared Kushner has withdrawn a request for a big tax break for one its buildings in Jersey City, New Jersey. Jersey City spokeswoman Jennifer Morrill says the Kushner Cos. sent a letter withdrawing its application for a 30-year break from city taxes for a planned two-tower project in the struggling Journal Square section of the city. Opponents of the tax breaks protested earlier this year and the city's mayor recently came out against the Kushner request.
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Shares are down in Europe and Asia today after the U.S. Federal Reserve pushed ahead with its latest interest rate hike. Germany's DAX fell 0.6 percent, France's CAC40 of France sank 0.8 percent and Britain's FTSE 100 dropped 0.4 percent. Most Asian markets closed down, but the Shanghai Composite index rose. Wall Street is expected to open lower, with Dow and S&P futures down.