Business Report: Americans may see higher mortgage rates in their future says Fed; and more
Americans could soon see higher rates on mortgages and other long-term loans. In an interview with the Associated Press, the President of the Federal Reserve Bank of New York, William Dudley, said he thinks The Fed has prepared investors for a reduction in the portfolio, which increased dramatically after the 2008 financial crisis. But, the economy is now healthy, so The Fed is ready to begin trimming its bond holdings.
Target is looking to improve its performance in two key areas – groceries and delivery. To boost its grocery business, Target has hired executives from rival Walmart as well as General Mills. The company is also buying tech start-up Grand Junction, whose software manages local deliveries using a network of about 700 carriers. The deal is expected to close soon and Grand Junction’s 13 employees will become Target workers.
Apple and Aetna have been discussing a proposal to bring Apple’s health and fitness-tracking smartwatch to millions more people connected to Aetna. The insurer, which covers about 23 million people, already offers the watch to its 50,000 employees as part of its corporate wellness program. Now, Aetna is negotiating with Apple to offer free or discounted apple watches as a perk to its members.