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Global shares wilt, dollar nervous before Fed outcome; Apple outperforms

SYDNEY/TOKYO - Asian stock markets followed Wall Street into the red on Wednesday, while the dollar was on edge following speculation the Federal Reserve could take a dovish turn in its post-meeting statement later in the session.

Recent Business News

Oil drops more than 1 percent on firm dollar, U.S. stock build

SINGAPORE - Oil fell more than 1 percent on Wednesday as the dollar strengthened in early Asian trade, while an industry report showing a larger-than-expected rise in U.S. crude inventories also dragged on prices.

10:22pm EST

Amgen profit tops expectations on Enbrel sales, tax credit

- Amgen Inc on Tuesday reported higher-than-expected fourth-quarter profit, driven by strong sales of its blockbuster rheumatoid arthritis drug Enbrel and a tax credit.

5:12pm EST

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

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.

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