Comcast makes £22.1b cash bid for Sky

FILE - In this Aug. 8, 2017, file photo, The Walt Disney Co. logo appears on a screen above the floor of the New York ...

Comcast has jumped into the fray for Sky with a $39.5b cash offer, challenging Rupert Murdoch and Disney and opening the possibility of a bidding contest for the UK's biggest pay-TV company.

"Some of the headwinds the US economy faced in previous years have turned into tailwinds," Powell said in written testimony.

Powell sees gradual rate hikes

Federal Reserve chairman Jerome Powell said the central bank can continue gradually raising interest rates as the outlook for growth remains strong.