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Federal Reserve Vice Chair Stanley Fischer’s decision to resign in October with nine months remaining on his term could mean the potential is high for central-bank policy to be reshaped much sooner than many investors expected. Fischer’s departure will leave four of the seven seats on the Fed Board of Governors vacant, and that doesn’t include the one held by ...

Bloomberg It’s been a busy week for Apple Inc. While Chief Executive Officer Tim Cook showed off the 10th anniversary iPhone in California, his lieutenants worked half a world away on what may become the company’s largest deal ever. Apple is in talks to invest about $3 billion in Toshiba Corp.’s memory chips business as part of a consortium led ...

Bloomberg Microsoft Corp., working with chipmaker Intel Corp., is offering a cloud-computing service with more powerful encryption to secure data from hackers—and protect it from secret government data-gathering. Called Azure confidential computing, the technology encrypts data while it is in use—which is when most security breaches occur, according to Azure Chief Technology Officer Mark Russinovich. The new product works by ...

Bloomberg Samsung Electronics Co. is upping its $8 billion bet on automotive technology, forming a separate business unit within Harman to house autonomous driving products and plowing $300 million into a new fund investing in startups in the space. The autonomous driving unit will compete on everything from driving algorithms to systems integration, Dinesh Paliwal, Harman’s chief executive officer, said ...

Bloomberg The small, popular drones flooding the commercial market are unlikely to cause severe head injuries if they fall out of the sky and strike people, a new study has concluded. The results are similar to findings earlier this year by researchers associated with the Federal Aviation Administration and offer more justification for opening the door to unmanned operations over ...

Bloomberg India’s foreign-exchange reserves rose past $400 billion for the first time ever, strengthening policy makers’ buffers ahead of an expected reduction in US stimulus. The stockpile stood at $400.7 billion on September 8, the Reserve Bank of India (RBI) said in a release. With the Federal Reserve set to shrink its balance sheet—details of which could be announced next ...

Bloomberg The pound climbed to the highest level against the dollar since just after Brexit vote and UK government bonds tumbled. Sterling surged past $1.36 after Vlieghe, considered a dovish voter, turned hawkish to tell a conference that the moment was approaching for a rate hike. The premium to hold call options on the pound relative to puts rose to ...

Bloomberg Governor Elvira Nabiullina really means it when she says the Bank of Russia will follow no predetermined course on rates. Its outlook will allow for pauses as well as cuts of 25 to 50 basis points, depending on forecasts and the situation with inflation and the economy, Nabiullina told reporters in Moscow. The governor spoke after the central bank ...

Bloomberg Bank of England (BOE) policy maker Gertjan Vlieghe, regarded as one of the more dovish members of Monetary Policy Committee, said that he may support raising interest rates in the near future. The pound extended its advance as he put himself among the majority of MPC members who this week said an increase in borrowing costs could be needed ...

Bloomberg As the European Central Bank prepares to slow its bond-buying program, policy makers are considering softening the blow by highlighting a related measure — the reinvestment of maturing debt. An average of 15 billion euros ($18 billion) a month of assets held under quantitative easing will mature next year, according to euro-area central bank officials who said the figure ...