BUSINESS NEWS ROUNDUP

no long-term impact.

The Fed next meets Oct. 31 and Nov. 1, but investors expect that the Fed will not raise its benchmark rate before its final meeting of the year, in December. The Fed has held rates at a low level to encourage economic growth; by raising rates, it is slowly ending that stimulus campaign.

Coach changing name to Tapestry

At Coach, which is famous for its leather goods but has become the holding company of an increasingly ambitious fashion group, the name of the game is now Tapestry.

On Wednesday, the group that owns Coach, Stuart Weitzman and Kate Spade announced its intentions to change the name of its parent to Tapestry Inc., the better to express its new shape as a multibrand entity with a variety of unique properties, as opposed to one dominated by a single brand.

Such semantic change has become something of a corporate trend. Coach’s rebranding follows Google’s decision to restructure and name its holding company Alphabet in 2015 and Tribune Publishing Co.’s reinvention as Tronc last year. Next up will reportedly be the Weinstein Co., as it attempts to distance itself from disgraced co-founder Harvey Weinstein.