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NY Fed found serious problems at Deutsche Bank's U.S. arms: sources

FRANKFURT - The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG's DBKGn.DE U.S. operations, including shoddy financial reporting, weak technology and inadequate auditing and oversight, people close to the matter told Reuters.

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Wall St. ticks up on earnings; technicals, conflicts eyed

NEW YORK - The S&P 500 hit a record high on Wednesday, lifted by bullish earnings from companies like Apple and Microsoft, though technical resistance and conflicts in Ukraine and the Gaza Strip kept gains in check.

11:03am EDT

Apple margin concerns fade, focus shifts to iPhone launch

- A rise in margins has raised hopes that Apple Inc may be able to hold the line on pricing ahead of the launch of new iPhones later this year.

Tech, iPad, Media 10:47am EDT

No new 'Bond King' for Pimco when Gross reign ends

FRANKFURT - When Bill Gross eventually retires as chief investment officer of California-based asset manager Pimco, his "Bond King" crown will go with him.

1:35pm EDT

Five held in China food scandal probe, including head of Shanghai Husi Food

SHANGHAI/LANGFANG China - Shanghai police said on Wednesday they detained five people in an investigation into a Chinese-based supplier of foreign fast-food brands including KFC and McDonald's Corp over allegations the firm supplied out-of-date meat.

11:23am EDT

SEC adopts long-awaited reforms for money market funds

WASHINGTON - U.S. securities regulators adopted rules on Wednesday to curb the risk of investor runs on institutional money market funds, mainly by requiring their value to float instead of maintaining a value of $1 per share.

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