ECB's Lane: Inflation well above target a year ahead means we need to move monetary policy now

Germany rejects UniCredit's takeover offer for Commerzbank, calling bid inadequate and reaffirming support for bank's independence. The government, holding 12% of shares, said the offer lacks a sufficient premium over the current share price.

The German government on Tuesday rejected Italian bank UniCredit's takeover offer for Commerzbank, escalating the battle over Germany's second-largest private bank. The finance agency said the bid lacks an adequate premium, and the government reiterated its support for Commerzbank's independence.

Fed sets rates at first meeting under newKevin Warsh; ING analyst warns dropping easing bias language or signaling early cuts could alarm bond markets

The Federal Reserve sets rates at its first meeting under new governor Kevin Warsh. ING's Chris Turner said the Fed will need to ditch language pointing towards an easing bias, and if Warsh sounds too willing to cut rates soon, it could alarm bond markets.

Yum! Brands sells Pizza Hut to unnamed buyer for $2.7B in all-cash deal.

Yum! Brands is selling Pizza Hut for $2.7 billion.

Fed Chair Kevin Warsh pledges communications overhaul in first major policy signal

New Federal Reserve chief Kevin Warsh has promised an overhaul of communications.