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Shares and dollar wilt before Fed test, Apple outperforms

SYDNEY - Asian stock markets followed Wall Street into the red early on Wednesday, while the euro managed a rare rally on speculation the Federal Reserve could take a dovish turn in its post-meeting statement later in the session.

Recent Business News

U.S. business spending weakens, but consumers upbeat

WASHINGTON - U.S. business investment spending fell for a fourth straight month in December, a sign that slowing global growth may be weighing on the economy, but consumers remained upbeat and new home sales in December hit their highest level since June 2008.

5:14pm EST

Oil jumps on weaker dollar; traders wary of stock build

NEW YORK - Oil jumped as much as 3 percent on Tuesday as a weak dollar propped up commodities, but crude prices came off their highs in post-settlement trading on signs of another big U.S. supply build last week.

5:48pm EST

JPMorgan profited from soaring Swiss franc: Bloomberg

- JPMorgan Chase & Co's currency traders made a profit of as much as $300 million when the Swiss central bank shocked markets by scrapping its cap on the franc this month, Bloomberg reported, citing two people with knowledge of the matter.

3:48pm EST

U.S. proposes allowing oil, gas drilling off Atlantic Coast

WASHINGTON - The Obama administration on Tuesday proposed allowing for the first time oil and gas exploration in a wide swath of U.S. waters off the Atlantic Coast.

BNY Mellon may face bribery charges over sovereign wealth funds: filing

- Bank of New York Mellon Corp has disclosed in a filing that U.S. regulators are considering charging it with violating U.S. foreign bribery laws after an investigation into internships it gave to relatives of sovereign wealth fund officials.

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