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Wall Street falls 1 percent on earnings; Apple rallies late

NEW YORK - U.S. stocks closed more than 1 percent lower on Tuesday as disappointing results from a number of bellwether companies pointed to weakening conditions, while an unexpected decline in durable goods orders also weighed on sentiment.

Recent Business News

U.S. business spending weakens, but consumers upbeat

WASHINGTON - U.S. business investment spending fell for a fourth straight month in December, a sign that slowing global growth may be weighing on the economy, but consumers remained upbeat and new home sales in December hit their highest level since June 2008.

5:14pm EST

Oil jumps on weaker dollar; traders wary of stock build

NEW YORK - Oil jumped as much as 3 percent on Tuesday as a weak dollar propped up commodities, but crude prices came off their highs in post-settlement trading on signs of another big U.S. supply build last week.

5:48pm EST

JPMorgan profited from soaring Swiss franc: Bloomberg

- JPMorgan Chase & Co's currency traders made a profit of as much as $300 million when the Swiss central bank shocked markets by scrapping its cap on the franc this month, Bloomberg reported, citing two people with knowledge of the matter.

3:48pm EST

U.S. proposes allowing oil, gas drilling off Atlantic Coast

WASHINGTON - The Obama administration on Tuesday proposed allowing for the first time oil and gas exploration in a wide swath of U.S. waters off the Atlantic Coast.

BNY Mellon may face bribery charges over sovereign wealth funds: filing

- Bank of New York Mellon Corp has disclosed in a filing that U.S. regulators are considering charging it with violating U.S. foreign bribery laws after an investigation into internships it gave to relatives of sovereign wealth fund officials.

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