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Wall Street drifts to another record in light trading

NEW YORK - U.S. stocks were little changed on Wednesday, with the S&P 500 creeping up to another record closing high in a lethargic session, though a number of retail stocks traded heavily after reporting results.

Recent Business News

PwC must face $1 billion lawsuit over MF Global advice

NEW YORK - A federal judge on Wednesday ordered PricewaterhouseCoopers to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the October 2011 bankruptcy of MF Global Holdings Ltd, a brokerage run by former New Jersey Governor Jon Corzine.

InterMune drug may offer big upside to Roche if aimed at liver

- Roche Holding AG's planned $8 billion purchase of InterMune Inc is centered around hopes for blockbuster sales of its lung drug, but the smaller company's development pipeline may end up giving the Swiss drugmaker a far bigger bang for its buck.

5:58pm EDT

Alibaba revenue soars ahead of IPO

- Alibaba Group Holding Ltd's [IPO-BABA.N] revenue accelerated in the second quarter on strong gains in its mobile business, providing investors with what may be the final glimpse of the Chinese e-commerce company's financials before its expected landmark market debut.

Tech, Media 5:24pm EDT

IMF's Lagarde put under investigation in French fraud case

PARIS - IMF chief Christine Lagarde has been put under formal investigation by French magistrates for alleged negligence in a political fraud affair dating from 2008 when she was finance minister. | Video

11:52am EDT

Argentina wants deal with all holdout investors together

BUENOS AIRES - Argentina's government on Wednesday ruled out further piecemeal debt talks with a small group of U.S. hedge funds and said the country needed to strike a deal with all bondholders which have rejected past restructuring agreements as a single group.

3:02pm EDT

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