U.S. stocks dropped on Wednesday as a slump in technology and biotechs sent the Nasdaq to its biggest decline in nearly a year while the S&P 500 fell through key support levels.
Regions
Pirelli does not plan special dividend for ChemChina deal - sources
Italian tyre maker Pirelli (PECI.MI), which is being bought by China National Chemical Corp (ChemChina), does not plan to pay a special dividend to its shareholders as part of the buyout plan, two sources with direct knowledge of the matter said.
Borse Dubai to sell $2.2 billion stake in London Stock Exchange: source
Borse Dubai [BRSDB.UL], the biggest investor in the London Stock Exchange is selling its stake in the British exchange, which will raise around 1.5 billion pounds ($2.23 billion).
Atlanta Fed gauge shows U.S. GDP nearly flat in first quarter
A forecast model from the Federal Reserve of Atlanta on Wednesday suggested the U.S. economy is barely growing in the first quarter following an unexpectedly steep 1.4 percent drop in durable goods orders in February.
Oil up 3 percent on weak dollar, speculative buying, Yemen
Oil settled up about 3 percent on Wednesday as a weak dollar, fighting in Yemen and speculative buying boosted crude prices in spite of U.S. inventories building to record highs for an 11th week.
Latest News
A wine battle may be uncorked as imports of rosés from France, Italy, Spain, Germany, South Africa vie for shelf space and a share of the U.S. market, which is good news for consumers.
Australia has invited Germany, France and Japan to pitch for a contract to build its new submarine fleet, kicking off a contentious A$50 billion ($38.8 billion) project which has become a political football at home.
The United States ranks near the bottom among major economies in terms of policies to allow hiring highly skilled immigrant workers, according to a study by a business lobbying group that supports relaxing immigration controls.
Ford Motor Co said on Wednesday it is recalling more than 220,000 vehicles in North America for potential issues with door handles, vacuum pump relays and sensors.
U.S. stock index futures were little changed in light volume on Wednesday ahead of industrial orders data, with deals indicating investors still see value in the market despite indexes trading near all time highs.
CEOs at large U.S. companies collectively realized at least $6 billion more in compensation than initially estimated in annual disclosures in the five years after the financial crisis first hit, according to a Reuters analysis. The reason for the windfall: the soaring value of their stock awards.
The Obama administration has again invited Brazil's President Dilma Rousseff for a state visit to Washington, a diplomatic breakthrough that both sides hope will lead over time to greater trade between the two biggest economies in the Americas.
Kraft Foods Group Inc, the maker of Velveeta cheese, will merge with ketchup maker H.J. Heinz Co, owned by 3G Capital and Warren Buffett's Berkshire Hathaway Inc, to form North America's third-largest food and beverage company.
European shares dipped on Wednesday but held near multi-year highs and the euro rose against the dollar after a survey showed the German business climate improving.
