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Tech stock lead Wall St. higher as China fears ebb

- U.S. stocks were higher in late morning trading on Wednesday, rebounding from steep losses a day earlier, after China intervened to support its financial markets and help stem a global equities selloff.

Recent Business News

Oil falls a second day on large U.S. crude stock build

NEW YORK - Oil prices fell a second day on Wednesday after government data showing U.S. crude stockpiles rose last week added to concerns about global oversupply and sluggish economic growth in China.

12:50pm EDT

Citi sells Hungary consumer banking business to Erste Group

- Citigroup Inc agreed to sell its consumer banking business in Hungary to Austria's Erste Group Bank AG as the third-biggest U.S. bank by assets continues to divest non-core operating businesses.

5:11am EDT

Navistar may face SEC lawsuit, posts 12th consecutive loss

CHICAGO - Truck and engine maker Navistar International Corp on Wednesday reported its 12th consecutive quarterly loss and said it could face regulatory enforcement action for its disclosure practices, sending its shares down nearly 7 percent.

Japan lawmakers urge bourse, regulators to be tough on Toshiba

TOKYO - Japanese lawmakers on Wednesday called for a tough regulatory response to Toshiba Corp's second postponement of its annual results over accounting woes, saying the scandal could erode foreign investor confidence.

VW's CEO Winterkorn set to stay on for three more years

HAMBURG/STUTTGART - The executive committee of Volkswagen's supervisory board has proposed extending Martin Winterkorn's contract as chief executive until the end of 2018, the company said on Tuesday, opening the door to the appointment of a new chairman.

11:28am EDT

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