Markets were roiled by U.S.-China trade tensions and Brexit, among other factors.
Talks are in progress on implementing the strategy with the Forever 21 chain, Bloomberg reports.
The photo-sharing company is also offering buyers the option to buy $150 million more of the notes.
Federal Reserve Chairman Jerome Powell says during his every-six-months testimony before the U.S. House of Representatives that uncertainties over global trade 'continue to weigh on the outlook.'
Futures-market investors see it as an absolute certainty that the Federal Reserve will cut interest rates later this month. But a few bold economists, including Pantheon's Ian Shepherdson, say the conviction isn't warranted.
Federal Reserve Chairman Jerome Powell says the central bank shouldn't 'overreact' to signals that the U.S. economy might be slowing. His comments, made during an onstage interview, came after at least one member of the central bank's monetary-policy committee voted last week to cut official U.S. interest rates, bucking Powell's push to keep them at their current level.
Federal Reserve officials last week scrapped a pledge to be 'patient'' when deciding whether to cut U.S. interest rates to ward off an economic downturn. The move was seen as inching the Fed closer to a possible reduction in July. But Robert Kaplan, president of the central bank's Dallas branch, argues in a new essay that 'additional time' is needed to evaluate whether to make any changes in monetary policy.
The Fed's monetary-policy committee voted to keep the benchmark U.S. interest rate at 2.25% to 2.5%, but warned of risks to the U.S. economy and dropped a pledge to remain 'patient' on future rate cuts.
KPMG, the giant accounting firm, agrees to pay $50 million to settle Securities and Exchange Commission accusations that employees cheated on internal training exams and altered past audit work based on stolen information.
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