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Oil down slightly as Fed signal easing of stimulus
The price of oil fell slightly Wednesday as the Federal Reserve indicated it's closer to easing up on economy boosting measures that have been a boon for commodities. Oil swung in a range of about $1 after the Fed delivered a mixed message: The central bank said it would continue ...
Stocks slide as Fed says bond purchases could slow
Stocks are closing sharply lower and bond yields are rising after Fed Chairman Ben Bernanke said the central bank could slow its massive bond purchases this year. The Dow Jones industrial average dropped 206 points, or 1.4 percent, to 15,112. It was the Dow's seventh straight move of 100 points ...
Pruitt: DOJ broke rules in phone records seizure
The Justice Department violated its own rules when it secretly seized records for thousands of phone calls to and from journalists for The Associated Press as part of a leak investigation, the head of the company said Wednesday. AP President and CEO Gary Pruitt told a luncheon gathering of journalists ...
Banks fall short in helping struggling homeowners
Homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation's top mortgage servicers, according to a report released Wednesday. Such delays can plunge borrowers deeper in debt. Joseph A. Smith Jr., the independent monitor of last year's national ...
Unmanned aircraft struggle to shed 'drone' image
Unmanned aircraft have helped rescue stranded hikers, worked to contain wildfires and gathered data at nuclear accidents. One helped a Russian tanker find its way through Arctic ice to bring oil to a stranded Alaskan community. These remote-controlled planes have many more potential peacetime uses. But unmanned aircraft have an ...
IMF calls for urgent steps on Spain unemployment
Spain faces the prospect of high unemployment and sluggish growth lasting years unless the country and Europe take "urgent action" to slash the nation's crippling 27 percent unemployment rate and free frozen credit to businesses so they can expand, the International Monetary Fund said Wednesday. A report issued by the ...
Diverted United 787 passengers resume Tokyo trip
Passengers from a United Airlines Denver-to-Tokyo flight that diverted to Seattle when the Boeing 787 had an oil filter issue resumed their trip Wednesday, a spokeswoman said. The airline put about 200 passengers in hotels Tuesday night and they took off from Seattle-Tacoma International Airport Wednesday morning on another 787, ...
Correction: Dish-Sprint story
In a story June 18 about Dish Network Corp.'s announcement that it will not submit a revised bid to purchase Sprint Nextel Corp., The Associated Press reported erroneously that Softbank's competing bid for Sprint falls short of Dish's. In fact, the two offers are not directly comparable. Softbank is offering ...
Markets drift as investors ready for Fed
Markets drifted lower Wednesday ahead of a keenly awaited policy statement from the U.S. Federal Reserve. The central bank wraps up a two-day policy meeting later and investors are looking to see if policymakers are moving towards any change in its monetary policy stance. The Fed's strategy of super-low interest ...
Porsche tops in annual survey of vehicle quality
Porsche is the top performer in an annual survey of new vehicle quality. J.D. Power questioned more than 83,000 U.S. car owners about problems with their 2013 vehicles in the first 90 days of ownership. In the results released Wednesday, Porsche, GMC, Lexus, Infiniti and Chevrolet owners reported the fewest ...
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