Wall Street climbs at open on China rate cut

NEW YORK - Wall Street opened higher on Friday, setting major stock indexes up for a fifth week of gains, after China's central bank cut its benchmark interest rate for the first time in more than two years to boost its cooling economy.

Recent Business News

Aereo files for bankruptcy

NEW YORK - Aereo Inc, the video streaming company backed by media mogul Barry Diller, has filed for bankruptcy protection.

Tech, Media 9:42am EST

Global M&A deals cross $3 trillion for first time since 2007

- Mergers and acquisition deals announced so far this year have topped $3 trillion, the highest since 2007, helped by mega deals in the healthcare, energy and power sectors.

11:08am EST

Fed to issue rules notice on banks and commodities in early 2015

WASHINGTON - The Federal Reserve will issue in the first quarter of next year a formal notice of rules it has been reviewing for financial holding companies and their activities in the physical commodities markets, a top official with the U.S. central bank said on Friday.

ECB drops Citi from FX contact group

FRANKFURT - The European Central Bank has dropped Citigroup from its experts' working group on foreign exchange, days after the U.S. bank was fined by U.S. and UK regulators for failing to stop traders from trying to manipulate the currency market.

9:49am EST

RBS says it barely passed EU stress test, admits error

LONDON - Royal Bank of Scotland said it only marginally passed a stress test last month by European regulators after admitting to an error in data it submitted, calling into question if it can pass a tougher test by British regulators.


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