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June 14, 2017 06:26 AM

Wednesday Morning Business Brief - June 14

Beijing (AP)

European shares are gaining today following Wall Street's tech-driven rise as investors wait for word from the U.S. Federal Reserve on a possible interest rate hike. Asian markets closed mostly lower today. In early trading, France's CAC-40, Germany's DAX and London's FTSE are up. On Wall Street, there's very little change in Dow and S&P futures.

WASHINGTON (AP) - The U.S. Federal Reserve ends a two-day policy meeting today, and investors expect the central bank to raise interest rates for the third time since December. Ric Spooner of CMC Markets says in a report that, "Despite stubbornly low inflation, the Fed is widely anticipated to lift its interest rate." Investors also are watching for the Fed's latest views on inflation and hints on how aggressive it will be in raising interest rates in the future.

BRUSSELS (AP) - The European Commission is investigating whether Nike, Universal Studios and Japan's Sanrio are preventing traders from selling products across EU borders and online. EU Competition Commissioner Margrethe Vestager says the probe will "examine whether the licensing and distribution practices of these three companies may be denying consumers access to wider choice and better deals."

BEIJING (AP) - The International Monetary Fund is urging China to speed up reforms meant to slow surging growth of debt that is fueling concern about the stability of its financial system. The IMF's first deputy managing director, David Lipton, said Tuesday after meeting Chinese officials that the reform process must accelerate to avoid a "sharp adjustment" in the slowing economy. China faces mounting warnings that its rapidly rising debt load since the 2008 financial crisis could depress economic growth or threaten the health of banks.

BEIJING (AP) - The Chinese insurer that owns New York City's Waldorf Astoria Hotel says its chairman has been unable to perform his duties following a report he was detained by regulators amid accusations of possible financial misconduct. A one-sentence statement released today says the chairman of Anbang Insurance Group Ltd. (Wu Xiaohui) is "temporarily unable to perform his duties due to personal reasons," and that the chairman has authorized other executives to do his work.
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