Philadelphia Best

Tiffany & Co ( TIF.N ) on Tuesday reported a higher quarterly profit, helped by stronger-than-expected sales as business soared in China, and the U.S. jeweler raised its full-year forecast as global sales rose 7 percent to $911.5 million in the third quarter ended October 31.
One regional U.S. Federal Reserve bank continued to seek a quarter point cut in the discount rate last month while three other branches pushed for a matching hike, but the Fed Board in Washington decided to leave rates unchanged at 0.75 percent. Minneapolis Fed directors sought a cut to 0.50 percent in the discount rate, which is the level at which banks may borrow from the central bank if they are unable to raise funds in the private market. Dallas, Philadelphia and Kansas City requested a hike to 1.0 percent.
Germany’s antitrust watchdog has dropped an investigation into Amazon after the world’s biggest Internet retailer agreed to stop forcing third-party merchants to offer their cheapest price when selling products on its platform. Amazon said in August it would stop its policy in the European Union that prevented merchants selling on its Marketplace from offering lower prices on other websites, including their own. Andreas Mundt, the president of the German cartel office, said it had decided to set aside the case against Amazon after the company agreed to cancel that demand from the terms and conditions of its contracts with merchants.
It’s been a bumpy few months for electric car maker, Tesla Motors. While enjoying the highs of high customer satisfaction and continued praise for the Model S electric sedan, the company has also endured high scrutiny for a trio of accident-related fires in its vehicles. CEO Elon Musk doesn’t seem worried, though, despite an National Highway Traffic Safety Administration investigation into the fires.

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