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Tobacco and tech drag on Wall Street; yields boost banks

NEW YORK Wall Street's three major indexes closed lower on Thursday, with tobacco stocks leading a tumble in consumer staples while concerns about smartphone demand hurt the technology sector and rising bond yields and earnings helped financials rebound. | Video

Recent Business News

Wall Street regulator sanctions Tezos cryptocurrency project co-founder

NEW YORK A Wall Street regulator has suspended the co-founder of the controversial Tezos cryptocurrency project from associating with broker-dealers for two years, part of a settlement to resolve allegations that he made false statements about his side venture while working at Morgan Stanley .

6:58pm EDT

Wells Fargo nears $1 billion settlement for loan abuses: source

Wells Fargo & Co is close to settling a record fine of $1 billion imposed by two U.S. regulators for its risk management business, a source familiar with the matter told Reuters on Thursday. | Video

7:03pm EDT

AT&T CEO Stephenson says Time Warner deal needed in content-dependent world

WASHINGTON AT&T CEO Randall Stephenson said on Thursday his company's bid to buy movie and TV show maker Time Warner would allow the two firms to serve customers better by lowering pay TV rates, rejecting government arguments the deal would raise consumer prices.

6:59pm EDT

New York's 'Fearless Girl' to stare down the Stock Exchange

NEW YORK The bronze statue of a little girl that became a tourism phenomenon by staring down Wall Street's massive "Charging Bull" sculpture is to be moved to a nearby spot where its stern gaze will be on the male-dominated New York Stock Exchange, city officials said on Thursday.

5:25pm EDT

Mattel names former Maker Studios executive as CEO after Georgiadis quits

Mattel Inc said on Thursday that board member and digital media executive Ynon Kreiz will replace Chief Executive Margaret Georgiadis, who is stepping down after only 14 months at the helm of the maker of Hot Wheels and Barbie dolls.

7:30pm EDT

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