Fed official says economy near Fed targets with inflation easing
Federal Reserve Vice Chairman Stanley Fischer said the U S economy is close to the Fed s targets for maximum employment and 2 inflation. He noted unemployment near 5 percent and core inflation at 1.6 percent, ahead of the mid September policy meeting. Goldman Sachs and EastBridge Partners to buy majority stake in Happycall for about 160 million dollars.
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Energy slump drives US corporate defaults higher
S&P Global Fixed Income Research warns the US corporate default rate could jump 30 percent to 5.6% by June 2017, led by energy sector pain. Analysts note 99 firms with low ratings may default in the year ending June 2017, up from 79 in the prior year.
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Dropbox IPO could reshape next wave of tech debuts
Dropbox eyed an early 2017 IPO as unicorns like Uber and Airbnb face longer private lifespans. Analysts note a crumbling IPO reluctance, with VC executives predicting a rush in 2017 2018, while Dropbox remains non profitable yet cash flow positive and public market timing remains uncertain.
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