Fed Nears Decision on Interest Rates (WSJ)
The Federal Reserve is expected Wednesday to lift its interest-rate target from near zero, seven years after it pushed its benchmark rate to the floor during the financial crisis. Its biggest challenge will be communicating its decision about the path of rates in the coming years without spooking investors or upsetting the global economy.
Fight Clubs, Sleep Deprivation and Angst: Traders Await Fed (Bloomberg)
Bankers worldwide will be hitting gyms, beating the sun up and burning the midnight oil in preparation for the most hotly anticipated Federal Reserve decision in years. “It seems a good time just to go and beat the crap out of a punchbag,” said Clarke, who plans to spend a few hours at 1Rebel gym before heading back to the office for the 7 p.m. announcement.
Billionaire Sam Zell Says Recession Likely in Next 12 Months (Bloomberg)
The central bank has been too cautious and the economy would already be adjusting if it raised rates six to nine months ago, giving Chair Janet Yellen “more room if a recession is on the way,” Zell said Wednesday in an interview on Bloomberg Television. Multinational companies are laying off workers, global trade is slowing and there’s a possibility China’s economy will falter, he said.
Fitch Downgrades Brazil to Junk, With Negative Outlook (WSJ)
Fitch Ratings cut Brazil’s sovereign-credit rating to junk status on Wednesday, citing the country’s ballooning budget deficit, political turmoil and a deeper-than-expected recession.
Robbery Suspect Allegedly Shows Up To Rob Bank Again On Live TV (AP)
An Iowa television station was doing a live update on a Rochester, Minnesota, bank robbery when police say the suspect returned to rob it a second time. KIMT-TV of Mason City, Iowa, was outside Sterling State Bank in Rochester on Tuesday when a bank employee ran out and pointed out the robbery suspect. Reporter Adam Sallet broke away from the report, saying, "I have to go. I have to call 911."
House Democrats to seek testimony from Valeant in coming weeks (Reuters)
Democrats on a U.S. House of Representatives panel are planning to call Valeant Pharmaceuticals Chief Executive Michael Pearson to testify in early 2016 about steep price hikes for some of the company's drugs, a Democratic aide said.
Valeant Pharmacy Fallout to Cut 2016 Profit by $500 Million (Bloomberg)
Valeant Pharmaceuticals International Inc. said that the fallout and remedies from its relationship with a controversial mail-order pharmacy, Philidor Rx Services, will slash hundreds of millions of dollars from the company’s earnings this quarter and next year.
Google to Make Driverless Cars an Alphabet Company in 2016 (Bloomberg)
Google Inc. plans to make its self-driving cars unit, which will offer rides for hire, a stand-alone business under the Alphabet Inc. corporate umbrella next year, a person briefed on the company’s strategy said.
Reindeer deliver beer to UK pubs (UPI)
England's Box Steam Brewery employed the help of reindeer named Comet and Cupid to deliver beer to local Wiltshire pubs on the back of a sleigh. "We're lowering our carbon hoofprint," read the caption of a photo of sleigh driver Tony Lockyear posted on the brewery's Facebook page. The sleigh's first stop was Cross Guns pub, but the brewery's managing director says they'd be willing to travel even farther than that. "We'd be delighted to export to the North Pole," he said. "And we can lend a helping hand if there happened to be any large-scale gift distribution businesses that region experiencing a seasonal rush."