The Federal Reserve announced it is raising its key interest rate for the third time this year and foresees three additional hikes in 2018. The Central Bank is lifting rates of 1.25 to 1.5 percent. It will also continue to shrink its bond portfolio. Together those two steps could lead to higher loan rates for consumers and businesses and slightly better returns for savers.
In its latest move to catch up with Amazon, Target is hoping to boost its same-day delivery service by paying $500 million for Shipt, a company that delivers groceries for $99 a year. Target will add more products to the service, such as home goods and electronics. Customers will have to pay the annual membership fee to get same-day delivery.
United Airlines announced it will add service to Tahiti beginning three weekly flights between its hub in San Francisco and the south pacific island next October. The airline will use 787 Wideboy jets for the eight hour flights. The seasonal service is scheduled to run through March.
And T-Mobile is the latest company to combine wireless and video, launching a TV service next year. The new service will be for those who are not interested in cable or satellite TV packages. The wireless provider promises to address complaints such as high bills and exploding bundles. T-Mobile hasn't said how its new offering will be different from existing TV alternatives like HULU, YouTube, AT&T and Dish.