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Oil's drop chills Asian stocks, inflation data boosts dollar

TOKYO - Asian shares were mostly lower on Friday as a sharp overnight pullback in crude oil prices dampened risk appetite, while the dollar was firm after upbeat U.S. data tilted expectations back toward an early interest rate hike by the Federal Reserve.

Recent Business News

Fed's Bullard sees spring price rebound, summer rate hike: CNBC

NEW YORK - The Federal Reserve should make a change to its policy statement next month that would allow it to monitor inflation readings through the spring and then hike interest rates some time in the summer, a top Fed official said on Thursday.

26 Feb 2015

Bank of America accounting chief, two directors to step down

- Bank of America Corp said on Thursday that two members of its board of directors and its chief accounting officer will be leaving the company in coming weeks.

26 Feb 2015

Citi urges Europe's CEOs to follow U.S. share buyback trend

LONDON - Citi strategists on Thursday urged European firms to use historically cheap borrowing costs to buy back their own shares, a practice embraced by U.S. companies in recent years that has also attracted criticism.

26 Feb 2015

GM's Indonesia closure highlights automakers' emerging markets woes

DETROIT - General Motors Co's decision to shutter a car factory in Indonesia comes as global automakers rethink the timing and scope of investments in emerging markets once touted as engines of growth.

26 Feb 2015

For Macy's, going downmarket looks like the way ahead

- Macy's Inc's planned push into the off-price retailing sector, dominated by chains such as TJX Cos Inc's TJ Maxx, shows the venerable department store chain has faced up to new realities of retailing in the United States.

26 Feb 2015

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