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Tech stocks power Wall St. recovery, S&P hits new high

Wall Street turned positive in afternoon trading on Friday, with the S&P 500 index hitting a record intraday high for the seventh time this month, as gains in Alphabet and Amazon more than made up for losses in energy shares.

Recent Business News

Fed's Williams downplays GDP weakness, sees rate hikes

CAMBRIDGE, Mass. The Federal Reserve could raise interest rates up to two times before year end, a top Fed official said on Friday as he downplayed data that showed the U.S. economy grew far less than expected in the last quarter.

12:35pm EDT

Exclusive: California regulator says testing to begin on Volkswagen diesel fix

Volkswagen AG and the California Air Resources Board will begin testing hardware and software that could help the German automaker avoid buying back as many as 475,000 diesel cars sold in the United States with improperly designed pollution controls, the head of the board told Reuters.

1:41pm EDT

Rising revenue boosts UPS profit; 2016 forecast confirmed

CHICAGO United Parcel Service Inc reported a higher quarterly net profit on Friday that met analyst expectations as revenue grew across its business units, and the company reaffirmed its full-year earnings outlook despite global economic uncertainty.

11:05am EDT

Taxing times: why Russian pump prices rise as oil prices fall

MOSCOW The global economic slowdown has hurt millions of households, but has at least had a silver lining: with oil prices falling, the cost of filling up a vehicle with fuel has dropped.

12:10pm EDT

Credit Suisse to create U.S. banking business for billionaires

Credit Suisse Group AG , which exited its U.S. private wealth business last year, is building out a new investment banking group in the region to serve billionaires.

10:00am EDT


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