Business
Investors look for answers on economy from Fed
Worry and speculation have consumed investors since Chairman Ben Bernanke spoke to Congress last month about the Federal Reserve's drive to keep long-term interest rates at record lows. On Wednesday, many hope the Fed will settle the confusion. Will the Fed scale back its $85 billion-a-month in bond purchases within ...
Oil falls near $98 a barrel before Bernanke speaks
The price of oil fell Wednesday, before the conclusion of a U.S. Federal Reserve meeting. Benchmark oil for July delivery fell 13 cents to $98.31 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 67 cents to close at $98.44 a ...
Dish won't submit revised bid for Sprint
Satellite TV operator Dish Network Corp. said Tuesday it would not submit a revised bid for Sprint, leaving the path open for the wireless carrier to accept what it already considers a superior offer from Japan's Softbank. Dish said that Sprint Nextel Corp.'s decision to cut Dish's due diligence process ...
Rural lawmakers push for farm bill votes in House
Farm-state lawmakers are scrambling to win bipartisan support for a five-year, half-trillion-dollar farm bill on the House floor this week. The legislation would cut $2 billion a year from food stamps while raising subsidies for several crops. Though it has support from rural lawmakers across the political spectrum, it is ...
NSA director says plot against Wall Street foiled
The U.S. foiled a plot to bomb the New York Stock Exchange because of the sweeping surveillance programs at the heart of a debate over national security and personal privacy, officials said Tuesday at a rare open hearing on intelligence led by lawmakers sympathetic to the spying. The House Intelligence ...
Chrysler agrees to recall of Jeeps at risk of fire
After initially defying federal regulators, Chrysler abruptly agreed Tuesday to recall some older-model Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions. But the recall, which came in an 11th-hour deal between the automaker and the National Highway Traffic Safety Administration, covers only 1.56 million of ...
Asia Markets mostly down as investors eye Fed
Asian markets opened mostly lower Wednesday as investors waited for an update on the U.S. economy from the Federal Reserve and for some clarity from the Fed about its future course. The results of a two-day Fed policy meeting will likely ripple through stock markets once investors learn whether there ...
18 mayors: Limit use of food stamps to buy soda
The mayors of New York, Los Angeles, Chicago and 15 other cities are reviving a push against letting food stamps be used to buy soda and other sugary drinks. In a letter sent to congressional leaders on Tuesday, the mayors say it's "time to test and evaluate approaches limiting" the ...
Japan's trade deficit climbs to $10.5B in May
Japan's trade deficit rose nearly 10 percent in May to 993.9 billion yen (nearly $10.5 billion) as rising costs for imports due to the cheaper yen matched a rebound in exports, the Ministry of Finance reported Wednesday. Exports rose 10.1 percent in May over a year earlier to 5.77 trillion ...
Ark. AG seeks to uphold verdict against J&J
Arkansas' attorney general filed a brief Tuesday backed by his counterparts in 35 other states asking the Arkansas Supreme Court to uphold a $1.2 billion fine levied against Johnson & Johnson and a subsidiary over the marketing of the antipsychotics drug Risperdal. Attorney General Dustin McDaniel called on the justices ...
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