NEW YORK - The Dow industrials hit a record high on Friday as stocks rallied on Wall Street after the Bank of Japan significantly ramped up its stimulus program, just days after the Federal Reserve wound down its years-long package of incentives.
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TOKYO - The Bank of Japan shocked global financial markets on Friday by expanding its massive stimulus spending in a stark admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April.
- AbbVie, which this month abandoned its planned $55 billion purchase of Dublin drugmaker Shire , reported impressive quarterly earnings on demand for its Humira arthritis drug and said it could deliver strong long-term growth without rushing into another big merger attempt.
In a comparison of 14 industrialized countries, the United States trailed only Italy in the pollsters' index of ignorance about the realities of modern life.