NEW YORK - Stocks slid on Wednesday after legislators in Washington reached a provisional budget deal, which increased investor expectations that the Federal Reserve may wind down its stimulus in the coming months.
Recent Business News
NEW YORK - Fitch Ratings said the bipartisan U.S. budget deal hashed out Tuesday still leaves U.S. sovereign credit vulnerable to a downgrade, but reduces the risk of damaging the economy or perceptions of U.S. creditworthiness. | Video
NEW YORK - Some creditors of Freedom Group Inc, maker of the Bushmaster rifle used in the Newtown, Connecticut, school massacre, are willing to offer the company more debt, despite the fact many of its private equity fund investors want out.
MILAN/ABU DHABI - Abu Dhabi's Etihad Airways is examining Alitalia's books and is expected to decide by Christmas whether to take a stake in the troubled Italian airline, two sources familiar with the matter said on Wednesday.
- Advantage Rent A Car said it picked Canadian private equity Catalyst Capital Group Inc to buy its assets in bankruptcy proceedings and reached a deal with Hertz Global Holdings Inc that allows Advantage to continue using a leased vehicle fleet.
Today, GM announced its new CEO will be Mary Barra, the company's current head of global product development.