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Wall St. rallied broadly as BOJ ramps up stimulus

NEW YORK - The Dow industrials hit a record high on Friday as stocks rallied on Wall Street after the Bank of Japan significantly ramped up its stimulus program, just days after the Federal Reserve wound down its own package of U.S. economic incentives.

Recent Business News

Wal-Mart to expand discounts as retail price war heats up

- Wal-Mart Stores Inc said it will expand its offering of discounted products during the holiday season and may broaden a price-matching scheme to include online rivals, in the latest sign of an escalating price war among big U.S. retailers.

6:08am EDT

Without a plan, junk status looms for Britain's Tesco: Moody's

LONDON - Tesco could see its debt downgraded to "junk" status unless it outlines plans to cut borrowing and improve trading, rating agency Moody's said, raising the prospect of higher financing costs for Britain's biggest grocer.

10:38am EDT

Argentina default spreads to Par bonds, raising acceleration risk

BUENOS AIRES/NEW YORK - Argentina's debt default spread to its Par bonds on Friday after the country failed to complete an interest payment, raising the risk that creditors could demand that its cash-strapped government immediately repay all of its debt.

8:23am EDT

Japan's central bank shocks markets with more easing as inflation slows

TOKYO - The Bank of Japan shocked global financial markets on Friday by expanding its massive stimulus spending in a stark admission that economic growth and inflation have not picked up as much as expected after a sales tax hike in April.

6:27am EDT

Trial of former UBS executive dredges up Swiss banks' shady past

By Francisco Alvarado, Zachary Fagenson and Joshua Franklin

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