- U.S. stocks were higher in late morning trading on Wednesday, rebounding from steep losses a day earlier, after China intervened to support its financial markets and help stem a global equities selloff.
Recent Business News
NEW YORK - Oil prices fell a second day on Wednesday after government data showing U.S. crude stockpiles rose last week added to concerns about global oversupply and sluggish economic growth in China.
- Citigroup Inc agreed to sell its consumer banking business in Hungary to Austria's Erste Group Bank AG as the third-biggest U.S. bank by assets continues to divest non-core operating businesses.
CHICAGO - Truck and engine maker Navistar International Corp on Wednesday reported its 12th consecutive quarterly loss and said it could face regulatory enforcement action for its disclosure practices, sending its shares down nearly 7 percent.
TOKYO - Japanese lawmakers on Wednesday called for a tough regulatory response to Toshiba Corp's second postponement of its annual results over accounting woes, saying the scandal could erode foreign investor confidence.
HAMBURG/STUTTGART - The executive committee of Volkswagen's supervisory board has proposed extending Martin Winterkorn's contract as chief executive until the end of 2018, the company said on Tuesday, opening the door to the appointment of a new chairman.