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Trending: The Fed and Apple

Thursday, September 22, 2016 8:17
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(Before It's News)

The US Federal Reserve has left short-term interest rates unchanged although it said the case for a rate hike had “strengthened” and left the door open for a move this side of the New Year.

Three out of the ten Fed policymakers voted against the decision, calling instead for an immediate increase in interest rates.

But Yellen, along with the other six members, wants to wait for more data to back up the view that the US economy is on the mend.

“The committee judges that the case for an increase in the federal funds rate has been strengthened, but decided, for the time being, to wait for further evidence of continued progress towards its objectives,” the Fed said in a statement.

Apple to buy McLaren?

Apple Inc (NASDAQ:AAPL) has demonstrated its automotive ambition after it enquired about the possibility of buying UK supercar engineer McLaren Technology Group.

Many analysts are seeing the approach as the clearest sign yet that the iPhone maker wants to take on the likes of Tesla and Google and dominate the automotive industry of tomorrow.

According to insiders, the talks started earlier this summer, with Apple reportedly considering a full takeover or at least a strategic investment in the Woking-based firm.

The US tech giant has been working on a self-driving electric vehicle for a couple of years now, and any tie-up could accelerate the project.

Estimates at what Apple would have to pay to buy Mclaren outright have varied, although most agree it would be somewhere in the region of £1bn to £1.5bn.

Story by ProactiveInvestors

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