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Wall St. up 1 percent as China fears ease

- U.S. stocks rose more than 1 percent in early trading on Wednesday, rebounding from steep losses a day earlier, after fresh intervention from China to support its markets helped ease a global equities selloff.

Recent Business News

Oil recoups losses on gasoline, equities recovery

LONDON - Oil prices steadied on Wednesday as rising demand for gasoline and stronger U.S. equities balanced concerns about the global economy and oversupply.

10:25am EDT

Citi sells Hungary consumer banking business to Erste Group

- 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.

5:11am EDT

Japan lawmakers urge bourse, regulators to be tough on Toshiba

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.

VW's CEO Martin Winterkorn set to stay on for three more years

FRANKFURT - 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 an outsider as chairman.

7:40am EDT

U.S. second-quarter productivity strongest in one-and-a-half years

WASHINGTON - U.S. nonfarm productivity increased at its strongest pace in 1-1/2 years in the second quarter, keeping wage inflation subdued for now.

8:47am EDT

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