The U.S. Securities and Exchange Commission said on Wednesday it will propose increased disclosure in the marketing of the increasingly popular target date mutual funds.
U.S. stocks slipped on Wednesday as a warning from FedEx , which said higher costs would crimp profits next year, overshadowed a surge in industrial production.
The U.S. economy is slowly healing and will avoid a relapse into recession, the American Bankers Association's economic advisory committee said on Wednesday.
BP Plc on Wednesday agreed to a demand by U.S. President Barack Obama to pay $20 billion into a special fund to handle claims from its huge Gulf of Mexico oil spill and said it was suspending payment of dividends this year.
Apple Inc sold more than 600,000 of its newest iPhone after a single day of preorders, blowing away most expectations and sending its shares up more than 2 percent on Wednesday.
A New Jersey woman was arrested on Wednesday and charged with running a $45 million Ponzi scheme in which she allegedly promised investors high returns from real estate, but instead used their money to repay other investors and gamble at casinos.
Housing starts hit a five-month low in May as a homebuyer tax credit expired, while wholesale prices remained subdued, giving the Federal Reserve ample room to maintain its ultra-low interest rate policy.
The Dow and S&P 500 dipped on Wednesday after concerns about FedEx's warning on higher costs, while optimism stirred by Apple Inc's stronger-than-expected iPhone sales helped the Nasdaq.
More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.
After suffering more than a year of abuse over its role in the financial crisis, the U.S. Federal Reserve on Wednesday was poised to beat back the most aggressive attempt to open its operations to congressional scrutiny.
Housing starts fell to a five-month low in May but industrial output rose, evidence of an uneven recovery that has kept inflation at a minimum.
Fannie Mae and Freddie Mac, the largest U.S. home funding companies, will delist their shares on the New York Stock Exchange after Fannie Mae fell below and Freddie Mac held near minimum price requirements, the companies' regulator said on Wednesday.
Mortgage demand jumped to a five-month peak last week, with applications to buy homes up from 13-year lows set in the wake of buyer tax credits while refinance loans hit the highest level since May 2009.
Prices were cut on nearly one quarter of U.S. homes on the market in May, the same as April, with a growing supply of unsold homes keeping buyers in the driver's seat, real estate web site Trulia.com said on Wednesday.
The euro was little changed against the dollar on Wednesday, as a recovery in U.S. stocks lifted risk appetite and offset fresh concerns about Spain's credit and banking system.
Bank of Canada Governor Mark Carney cautioned investors on Wednesday not to take another interest rate hike for granted, saying volatile global conditions meant no particular path for monetary policy was preordained.
AT&T Inc said on Wednesday that it was suspending preordering of the next Apple Inc iPhone while it tries to meet the fulfill number of orders it has already received.
Opel turned its back on state assistance for its restructuring drive on Wednesday, abandoning months of talks with European governments and leaving parent General Motors to fund the program.
If China does not act soon to raise the value of its currency, the U.S. Congress could pass legislation aimed at forcing Beijing to act, a top Democratic lawmaker said on Wednesday.
The euro fell against the U.S. dollar on Wednesday on fresh concerns about Spain's debt, while global stocks faltered after data showed U.S. housing starts fell more than expected in May to a five-month low.
The dollar fell against the yen to hit a session low on Wednesday after data showed U.S. housing starts fell more than expected in May to their lowest level in five months.
Gold Exchange Traded Commodity (ETC) demand remained upbeat for the nine consecutive weeks as the investors remained buoyant to park their funds under the safe haven instrument mainly on the back of sustained weakness in the Eurozone and banking instability in the region.
