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Facebook second-quarter revenue increases 61 percent

SAN FRANCISCO - Facebook Inc grew its revenue 61 percent in the second quarter, as the Internet company benefited from strong demand for its mobile advertising business.

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Qualcomm's third-quarter revenue beats Street

SAN FRANCISCO - Leading mobile chipmaker Qualcomm Inc posted higher fiscal third-quarter revenue that beat analysts' expectations as demand in the smartphone market shifts to China and other price-sensitive developing countries.

4:15pm EDT

IMF cuts U.S. 2014 growth forecast to 1.7 percent

WASHINGTON - The International Monetary Fund on Wednesday said it expects the U.S. economy to grow 1.7 percent in 2014, even more slowly than it predicted a month ago, as weakness in the first quarter offsets an expected pick-up in the second half of the year.

1:23pm EDT

Ex-Jefferies trader gets two years in prison in fraud case

NEW HAVEN Conn. - A former Jefferies Group Inc managing director convicted of defrauding investors who traded mortgage bonds through a government program established after the 2008 financial crisis was sentenced on Wednesday to two years in prison.

Yum China cuts ties to owner of plant in meat scandal after arrests

SHANGHAI/LANGFANG China - Yum Brands Inc's China division severed ties to OSI China after Shanghai police detained five people from that supplier's meat processing factory at the center of a food safety scare that has ensnared several major Western brands.

China, Health 3:45pm 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

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