Global Glance: Fed keeps rate unchanged; Jobless claims lowest since July

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Here are today’s top business headlines from across the nation and world:

Fed keeps key rate unchanged but hints of coming hike

WASHINGTON (AP) — The Federal Reserve is keeping its key interest rate unchanged but signaling that it will likely raise rates before year’s end. The Fed said in a statement ending its latest policy meeting Wednesday that the U.S. job market has continued to strengthen and economic activity has picked up. But it noted that business investment remains soft and inflation too low and that it wants to see further improvement in the job market. Read more

US grants Airbus, Boeing a chance to sell airplanes to Iran

DUBAI, United Arab Emirates (AP) — The U.S. government granted aviation giants Airbus and Boeing permission on Wednesday to sell aircraft to Iran following last year’s nuclear accord. European airplane manufacturer Airbus announced the license from the U.S. Treasury’s Office of Foreign Assets Control early Wednesday. Chicago-based Boeing followed with its own announcement later in the day. The approval clears the way for the two plane manufacturers to access one of the last untapped aviation markets in the world. Read more

US claims for jobless aid slide to lowest levels since July

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell last week to the lowest level since July, more evidence that U.S. workers are enjoying job security. The Labor Department says jobless claims slid by 8,000 to a seasonally adjusted 252,000. That matched the level in mid-July, which was the lowest since April. The less-volatile four-week average fell by 2,250 to 258,500. Read more

Mylan CEO infuriates lawmakers at hearing on EpiPen costs

WASHINGTON (AP) — Mylan CEO Heather Bresch infuriated lawmakers as she tried – and mostly failed – to explain steep cost increases of her company’s life-saving EpiPens. Outraged Republican and Democratic lawmakers on Wednesday grilled Bresch about the emergency allergy shot’s sky-high price and the profits for a company with sales in excess of $11 billion. The list price of EpiPens has grown to $608 for a two-pack, an increase of more than 500 percent since 2007. Read more

Why it matters: Minimum wage

WASHINGTON (AP) — Modest income growth for most Americans, strikes by fast-food workers, and the rapid growth of low-paying jobs at the same time middle-income work shrinks have combined to make the minimum wage a top economic issue for the 2016 campaign. Millions could benefit: Raising the federal minimum wage from $7.25 an hour to $12 would lift pay for 35 million workers, or 1 in 4 employees nationwide, according to the liberal Economic Policy Institute. But it would also boost costs for employers and may slow hiring. And it could lead to higher prices at clothing stores and restaurants and for other services. Read more

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