Don’t hold your breath if you were expecting a pay raise next year. According to new research from the professional services firm Aon Plc (AON), projected salary increases for the city in 2018 are projected to remain flat at 2.9 percent. On a national level, despite a strengthening economy and high job rates, most U.S. workers are unlikely to see sizeable increases in their salaries for 2018.
The U.S. dollar slipped against major rivals Wednesday before investors hear the Federal Reserve’s statement on interest rates and its massive bond-buying program, while the pound made a notable drive higher after British retail sales figures blew past expectations. The ICE U.S. Dollar Index DXY, -0.24% which measures the greenback against six of its rivals, shed 0.2% to 91.681, on course for a second session of losses. The dollar’s direction on Wednesday will be largely in the hands of the Fed, whose policy statement is due at 7 p.m. London time, or 2 p.m. Eastern Time. Chairwoman Janet Yellen will hold a press conference at 2:30 p.m. Eastern Time. But the greenback did see action against the
Shares of General Mills Inc. GIS, -1.86% tumbled 4.3% in premarket trade Wednesday, after the food company, which brands include Cheerios, Haagen-Dazs and Better Crocker, missed fiscal first-quarter profit and sales expectations. Net income for the quarter to Aug. 27 totaled $408.6 million, or 69 cents a share, after $419.5 million, or 67 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 71 cents, below the FactSet consensus of 76 cents. Revenue fell 3.5% to $3.77 billion, just shy of the FactSet consensus of $3.79 billion. North American retail sales declined 5% to $2.44 billion, compared with the FactSet consensus of $2.45 billion,