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Oil's drop chills Asian stocks, inflation data boosts dollar

TOKYO - Asian shares pulled further away from a five-month high on Friday as a sharp pullback in crude oil prices dampened risk appetite, though Japanese stocks crawled to a fresh 15-year peak after the dollar surged against the yen overnight.

Recent Business News

Fed's Bullard sees spring price rebound, summer rate hike: CNBC

NEW YORK - The Federal Reserve should make a change to its policy statement next month that would allow it to monitor inflation readings through the spring and then hike interest rates some time in the summer, a top Fed official said on Thursday.

1:00pm EST

Bank of America accounting chief, two directors to step down

- Bank of America Corp said on Thursday that two members of its board of directors and its chief accounting officer will be leaving the company in coming weeks.

6:04pm EST

Citi urges Europe's CEOs to follow U.S. share buyback trend

LONDON - Citi strategists on Thursday urged European firms to use historically cheap borrowing costs to buy back their own shares, a practice embraced by U.S. companies in recent years that has also attracted criticism.

4:03pm EST

GM's Indonesia closure highlights automakers' emerging markets woes

DETROIT - General Motors Co's decision to shutter a car factory in Indonesia comes as global automakers rethink the timing and scope of investments in emerging markets once touted as engines of growth.

3:41pm EST

For Macy's, going downmarket looks like the way ahead

- Macy's Inc's planned push into the off-price retailing sector, dominated by chains such as TJX Cos Inc's TJ Maxx, shows the venerable department store chain has faced up to new realities of retailing in the United States.

1:10pm EST

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