Wall St. inches up with Fed minutes on tap; retailers resilient

NEW YORK - U.S. stocks inched higher Wednesday after two days of gains, ahead of the release of minutes from the most recent Federal Reserve meeting, as investors brushed off bleak earnings forecasts from some retailers like Lowe's and Target.

Recent Business News

BP hires head of U.S. shale unit before spin-off

LONDON - Oil major BP has appointed a chief executive to look after its U.S. onshore oil and gas assets, months ahead of its plan to spin off the business to boost the profitability of its shale gas portfolio in the country.

12:39pm EDT

Walgreen CFO's departure due to $1 billion forecasting error : WSJ

- Drugstore retailer Walgreen Co's Chief Financial Officer, Wade Miquelon, and another top executive lost their jobs after a $1 billion forecasting error in the company's Medicare-related business, the Wall Street Journal reported.

11:46am EDT

Goldman Sachs to raise junior banker pay by 20 percent : NY Post

NEW YORK - Goldman Sachs Group Inc plans to raise pay for junior bankers by 20 percent next year, the New York Post reported on Wednesday.

11:58am EDT

Lowe's expects pickup in home improvement spending

- Lowe's Cos Inc , the No. 2 U.S. home improvement products retailer, echoed larger rival Home Depot Inc in anticipating higher spending on renovations in the second half of the year as the U.S. housing market showed signs of a recovery. | Video

12:34pm EDT

Argentina bonds, peso reel on country's debt swap plan

BUENOS AIRES - Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, the economy minister said on Wednesday, adding it would be "madness" to pay holdout creditors 100 cents on the dollar.

12:07pm EDT


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