TOKYO/SYDNEY - Asian stocks showed some resilience on Wednesday as investors speculated whether the Federal Reserve could take a dovish turn in its post-meeting statement later in the session, amid signs a stronger dollar was hurting U.S. corporate profits.
Recent Business News
SHANGHAI - - The financial services affiliate of Alibaba launched on Wednesday a system that will use the e-commerce giant's data trove to assess the creditworthiness of Chinese consumers and businesses with little or no history at traditional lenders.
SAN FRANCISCO - Yahoo Inc plans to spin off its 15 percent stake in China's Alibaba Group Holding Ltd , responding to pressure to hand over to shareholders its prized e-commerce investment valued at roughly $40 billion.
- Apple Inc quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season and a 70 percent rise in China sales, powering the company to the largest profit in corporate history.
WASHINGTON - The Federal Reserve is expected to signal it remains on track to begin raising interest rates later this year, as the central bank shows confidence that low inflation and rising risks from abroad have yet to derail the U.S. economic recovery.
SAN FRANCISCO - AT&T Inc on Tuesday posted a quarterly net loss that was slightly slimmer than Wall Street expected, as its mobile device deals attracted more customers, but its users switched to other networks at a higher rate.
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