NEW YORK BlackRock Inc is replacing one of the leaders of its nearly $42 billion BlackRock Global Allocation Fund and adding three new portfolio managers.
WASHINGTON A U.S. bank regulator is ready to fail Wells Fargo on a national scorecard for community lending, sources familiar with the decision said on Wednesday, in a move that could limit near-term expansion for the bank.
NEW YORK The Dow Jones transportation average hit a record high close, led by increases in shares of Norfolk Southern , Union Pacific and FedEx Corp , giving some investors hope the stock market is poised for further gains.
TORONTO Canadian yoga and leisure apparel retailer Lululemon Athletica Inc reported quarterly profit that beat analysts' forecasts on Wednesday, helped by higher-than-expected gross margins and sales, sending shares up 10 percent in extended trade.
WASHINGTON AT&T Inc's planned $85.4 billion acquisition of Time Warner Inc will increase innovation and bring "better-priced options" to consumers upset by high cable bills, AT&T Chief Executive Randall Stephenson told lawmakers on Wednesday.
BRUSSELS The European Union will take action on Thursday against seven nations including Germany and Britain for failing to police car emissions rules, EU sources said, after the Volkswagen cheating scandal showed suspicious behavior in the industry.
WASHINGTON U.S. President-elect Donald Trump said on Wednesday he will nominate professional wrestling magnate and former Senate candidate Linda McMahon as his choice to head the Small Business Administration.
NEW YORK U.S. stocks jumped to record levels and bond prices climbed on Wednesday as investors prepared for the European Central Bank to signal an extension of its bond-buying at its Thursday meeting.
NEW YORK Wall Street surged on Wednesday, with the Dow industrials and S&P 500 hitting fresh records, as equities continued their march upward after the presidential election of Donald Trump and a new high for transportation stocks added to the bullish tone.
LONDON While the British government tries to prevent parliament from having to pass a law to trigger the country's exit from the European Union, Reuters research indicates the lower house would in fact support it, based on lawmakers' recent statements.
WASHINGTON Donald Trump will name Oklahoma Attorney General Scott Pruitt, an ardent opponent of President Barack Obama's measures to curb climate change, as head of the Environmental Protection Agency, a Trump transition team official said on Wednesday, a choice that enraged green activists and cheered the oil industry.