Federal Reserve officials in their June discussions appeared to move closer to their first interest rate hike in nearly a decade but were concerned that a significant slowdown in China could pose risks to the U.S. economy. Minutes of their July 28-29 discussions show that officials believed they were close to achieving their goals on employment. But they were split on whether inflation had risen enough to justify an increase.
Audi to take on Tesla with electric SUV
German carmaker Audi says it’s plans to unveil an electric sport SUV concept with a range of over 310 miles — well beyond the range of rival Tesla’s Model S and soon-to-launch Model X. Audi said Wednesday that its electric SUV will begin production in 2018. It will unveil the vehicle at the Frankfurt Auto Show, which opens to the press Sept. 15. Tesla’s highly anticipated new Model X SUV, the company’s third vehicle, will begin shipping in a few weeks.