NEW YORK (Reuters) - A tiny mutual fund based in Miami, a clutch of cruise line operators and a Canadian natural resources company are the early winners in the Obama administration's surprise move on Wednesday to thaw relations with Cuba.
WASHINGTON (AP) - The Federal Reserve has sharply cut its forecast for inflation next year, saying it will remain far below its 2 percent target through 2015.
Stocks surged after the Federal Reserve signaled it could raise interest rates within months but said it can be patient doing it as it modified its 'considerable time' pledge on keeping a low interest rate policy.
ALBANY, N.Y. (CBSNewYork/AP) - Gov. Andrew Cuomo's administration will move to prohibit fracking in New York, citing unresolved health issues and dubious economic benefits of the widely used gas-drilling technique.
U.S. stocks rallied, giving the Standard & Poor's 500 Index its biggest gain since October, as energy shares rebounded and the Federal Reserve said it will be patient on the timing of the first interest-rate increase since 2006.