Business News Headlines

Asia shares ride on stimulus hopes, dollar hit by weak U.S. data

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TOKYO - Asian stocks inched higher on Thursday as the prospect of further stimulus from central banks in the region and Europe eclipsed disappointing U.S. data, which tripped up the dollar.

7:52pm EST

S&P 500 ends at record high boosted by tech shares

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NEW YORK - U.S. stocks rose on Wednesday boosted by tech shares, with the S&P 500 and Dow industrials closing at records, while the energy sector was once more the largest weight on the market as crude prices continued to flirt with multi-year lows. | Video

7:26pm EST

U.S. regulator orders national Takata driver-side air bag recall

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DETROIT - The U.S. National Highway Traffic Safety Administration on Wednesday ordered air bag supplier Takata Corp to expand its regional recall of driver-side air bags to cover the entire United States.

U.S. consumer, business spending data point to slowing growth

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WASHINGTON - U.S. consumer spending rose modestly in October and a measure of business spending plans fell for a second straight month, suggesting some slowing in the pace of economic growth.

1:28pm EST

Yellen's 'optimal' model calls for rate hike this year, in theory

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WASHINGTON - Federal Reserve Chair Janet Yellen has said the tenor of economic data will decide when the U.S. central bank raises interest rates. Surprisingly, a data analysis based on Yellen's own priorities points to a rate increase by the end of this year.

3:54pm EST

Behind Google's Europe woes, American accents

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BRUSSELS - When EU politicians call for the break-up of Google, it can sound like sour grapes, the anti-American backlash of an aging Europe envious, and fearful, of the wealth and growing power of young U.S. tech giants.

Tech, Media 1:30pm EST

Nigeria's parliament says Shell should pay $4 billion for 2011 oil spill

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ABUJA - Nigeria's National Assembly said on Wednesday oil major Shell should pay $3.96 billion for a 2011 spill at its offshore Bonga oilfield in the latest assessment of damage to the environment.

New home sales rise in October, but September revised down

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WASHINGTON, Nov 26 - Sales of new U.S. single-family homes rose for a third straight month in October, but a downward revision to the prior month's sales pace indicated the housing market recovery would remain gradual.

12:49pm EST

OPEC heading for no output cut despite oil price plunge

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VIENNA - OPEC Gulf oil producers will not propose an output cut on Thursday, reducing the likelihood of joint action by OPEC to prop up prices that have sunk by a third since June. | Video

3:18pm EST

U.S. FAA proposes requiring fix for Boeing 787 Dreamliner

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NEW YORK - The U.S. Federal Aviation Administration proposed on Wednesday requiring a fix for Boeing Co's 787-8 Dreamliner, following "numerous reports of failures of proximity sensors" on the high-tech plane's wings.

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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.