Several Federal Reserve policymakers this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as June - if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains.
Sales of previously occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale.
Target Corp. reported a 29 percent drop in first-quarter profit as unusually cool spring weather and financial pressures chilled customers' appetite for spending.
Lowe's said Wednesday that its first-quarter net income rose nearly 3 percent, but results fell short of expectations as rainy weather hurt spring gardening sales.
Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early.
The Federal Reserve is torn over when to slow its aggressive efforts to stimulate the economy.
GlaxoSmithKline PLC says it's starting an unusual collaboration with the U.S. government to develop several antibiotics for both bioterrorism threats and bacterial infections resistant to current medicines.
General Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off.
J.C. Penney Co. said Wednesday it has secured a $2.25 billion loan, $500 million more than it had expected, as it tries to stop a collapse in its sales.
Toy maker Fisher-Price says it's moving or eliminating roughly 100 jobs from its New York operations as part of restructuring by parent company Mattel Inc.
Fiat Industrial disputed as "absolutely false" reports Wednesday that Italy would lose 500 million euros ($646 million) in tax revenues if it moves its tax base to Britain after it completes a merger with its U.S.-based subsidiary CNH Global NV.
A federal panel of medical experts said that an experimental insomnia drug from Merck & Co. Inc. appears safe and effective, despite evidence from company trials that the pill can cause daytime sleepiness and difficulty driving.
Drugmaker Pfizer Inc. plans to try to sell its controlling stake in its former animal health business, Zoetis Inc., through a voluntary stock exchange with Pfizer shareholders.
MIXED MESSAGES: Stocks surged in the early going after Fed chairman Ben Bernanke told Congress the central bank was unlikely to pull back from its stimulus programs soon. Then minutes from a Fed meeting were released that suggested other policymakers think a pullback is possible as early as next month, and stocks dropped.
The leader of the center-right Progressive Party was chosen as Iceland's new prime minister Wednesday and promptly announced a halt to talks with the European Union about joining the 27-nation bloc.
Wal-Mart Stores Inc. named Dan Bartlett, most recently president and CEO of the U.S. arm of global business advisory firm Hill & Knowlton Strategies, as its new executive vice president of corporate affairs.
Stock indexes fell on Wall Street on fear the Federal Reserve could pull back from its stimulus programs soon.
Stocks are closing lower on news that several Federal Reserve policymakers favored cutting back on stimulus programs as early as June if the economy continues to improve.
The price of oil fell near $94 a barrel Wednesday as the nation's oil supply fell less than expected and demand for gasoline remained weak.
Stock prices surged Wednesday on congressional testimony by Fed Chairman Ben Bernanke early in the day that suggested the central bank would not slow its massive economic stimulus program any time soon. Then minutes of a Fed meeting were released suggesting the stimulus could be scaled back as early as next month if the economy picks up, and stocks began dropping fast.
It pays to be in TV.
For its annual survey of CEO pay, The Associated Press uses data provided by Equilar, an executive pay research firm.
A steady fall in the value of the yen is proving a godsend for exporters such as Toyota. The cheaper yen is making their products more affordable overseas.
Stocks are opening slightly higher as investors watch for the latest moves from the Federal Reserve.
It's going to be another busy Memorial Day weekend on the nation's highways.
