NEW YORK - Stocks fell on Wednesday in broad-based selling as traders locked in recent gains after a provisional budget deal out of Washington removed one of the near-term reasons for the Federal Reserve to continue its current pace of economic stimulus.
- Exclusive: Morgan Stanley launches sale of U.S. oil terminal business
- Israel's Fischer picked to be next Fed vice chair: source
- Analysis: With heavy lifting done, GM's focus turns to cars, fixing Europe
- JPMorgan's Dimon upbeat about budget deal, economy
- RBS to pay $100 million in U.S. sanctions probe
Recent Business News
NEW YORK - The government's star witness in its insider trading case against SAC Capital Advisors' Michael Steinberg faced a final day of questioning on Wednesday, as lawyers sparred over whether he was a credible cooperator or a liar.
LONDON - PSA Peugeot Citroen's board has approved a plan for an alliance with Dongfeng in which the Chinese carmaker and the French state would buy large minority stakes at a 40 percent discount to Peugeot's current share price, a source familiar with the matter said.
- A federal judge said General Motors Co is not required to pay $450 million to cover medical benefits for retirees, in a defeat for the United Auto Workers union.
NEW YORK - Boeing Co and machinists union leaders met on Wednesday, their second consecutive day of meetings in an effort to bring Boeing's new jetliner program, the 777X, to Washington state, according to the union.
Today, GM announced its new CEO will be Mary Barra, the company's current head of global product development.