Wall St. falls on rate concerns; Citi up after the bell
NEW YORK (Reuters) – U.S. stocks ended lower for a second straight session on Wednesday as worries grew about the timing of a Federal Reserve interest rate hike and dollar strength further dampened the outlook for U.S. earnings.
GE weighs deeper cuts to banking business: WSJ
(Reuters) – General Electric Co is considering making deeper cuts in its banking business, the Wall Street Journal reported, citing people familiar with the matter.
Brent up, US crude down, widening spread after stockpile build
NEW YORK (Reuters) – Benchmark Brent oil jumped 2 percent on Wednesday, rebounding from a one-month low and widening its gap to U.S. crude, which closed slightly down after a new record high for oil inventories in the United States.
Exclusive: GM capital plan may delay credit rating upgrade
DETROIT (Reuters) – General Motors Co’s decision this week to give back up to $10 billion to shareholders over the next two years will likely delay one of its important goals: achieving a top-tier credit rating that would benefit its growing auto finance unit.
Fed view, strong dollar drag Wall Street lower
NEW YORK (Reuters) – U.S. stocks ended lower for a second straight session on Wednesday as worries increased the Federal Reserve could bump up rates as soon as June and the dollar strength further dampened the outlook for U.S. corporate earnings.
Facebook to face U.S. class action over children’s online purchases
(Reuters) – A federal judge said Facebook Inc must face a nationwide class-action lawsuit seeking to force the social media company to provide refunds when children spend their parents’ money on its website without permission.
Toyota to recall 112,500 U.S. vehicles on possible safety issues
(Reuters) – Toyota Motor Corp’s U.S. arm said it was recalling about 112,500 vehicles due to possible safety issues.
Greece, lenders meet on working methods to start reforms, unblock aid
BRUSSELS/ATHENS (Reuters) – Greek representatives started talks with official international creditors in Brussels on Wednesday, taking the first step toward an agreement on the reforms Greece must implement to unblock further aid as Athens runs out of …
Lloyd’s of London targets foreign investors for new business
DUBAI (Reuters) – Lloyd’s of London [SOYLD.UL] wants to encourage more foreign investment to bring in business, its chief executive told Reuters on Wednesday, as the insurance market undergoes rapid consolidation.
GE to base its renewables unit in France: Alstom chief
PARIS (Reuters) – General Electric Co will base its renewable energy unit in Paris and put a Frenchman in charge of the division after it completes the purchase of the energy activities of France’s Alstom , Alstom chief Patrick Kron said on Wednesday.
