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IMF's Executive Board Gives China More Time For Yuan To Become Reserve Currency

Wed, 08/19/2015 - 12:30pm
The International Monetary Fund on Wednesday announced that it has extended its current Special Drawing Rights basket of currencies for nine months, effectively giving China more time to comply with conditions needed to join an elite club of reserve currencies along with the U.S. dollar, euro, yen and British pound.
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Chinese e-commerce company Alibaba names Nestle executive Wan Ling Martello to board

Wed, 08/19/2015 - 12:14pm
Alibaba named Nestle executive Wan Ling Martello to its board of directors Wednesday..
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Agency to demand stores stop selling drones at Newark Liberty airport

Wed, 08/19/2015 - 12:06pm
At least two stores inside Newark Liberty International Airport are selling drones despite federal rules prohibiting flying them near airports.
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Committee OKs bill to require withholding of income tax from Detroiters who work outside city

Wed, 08/19/2015 - 12:02pm
Michigan legislators took a step Wednesday to help Detroit collect unpaid city income taxes from residents who work in the suburbs, a move linked to efforts to persuade Democrats from the city to back an elusive $1.2 billion road-funding plan.
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Hormel slips as company says bird flu, lower pork prices and strong dollar hurt its 3Q sales

Wed, 08/19/2015 - 12:02pm
Shares of Hormel, the company behind Spam canned ham, Dinty Moore stew and other products, wavered Wednesday after the company said its quarterly profit grew, but reported disappointing sales that were hurt by the avian flu epidemic and the strong U.S. dollar.
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Citi to Pay $15M to Settle U.S. Compliance Charges

Wed, 08/19/2015 - 11:59am
A unit of Citigroup will pay $15 million to settle civil charges alleging it failed to enforce policies designed to prevent and detect insider trading, U.S. regulators said.
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'Subway guy' Jared Fogle just latest pitchman to bring scandal to corporate sponsor

Wed, 08/19/2015 - 11:56am
"Subway guy" Jared Fogle has agreed to plead guilty to allegations that he paid for sex with minors and received child pornography, prosecutors say, marking one of the biggest downfalls ever for a corporate pitchman.
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US stocks fall in late morning trade after global losses; investors wait for Fed minutes

Wed, 08/19/2015 - 11:53am
U.S. stocks followed markets in Europe and Asia lower Wednesday ahead of the release of the latest minutes from the Federal Reserve.
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Sen. Schumer plans legislation to mandate technology to restrict areas where drones can fly

Wed, 08/19/2015 - 11:42am
The Federal Aviation Administration is moving too slowly to implement rules requiring drone manufacturers to install technology that would prevent the aircraft from entering "no-fly zones" like airports, U.S. Sen. Charles Schumer said.
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Marc Faber: China Will Spill Over to U.S.

Wed, 08/19/2015 - 11:28am
In an interview with FOX Business Network’s Maria Bartiromo, Marc Faber of the Gloom Boom & Doom Report said China volatility has hit the global markets and will spill over into the U.S.
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Fact sheet: 2015 Volkswagen Golf GTI

Wed, 08/19/2015 - 11:18am
2015 Volkswagen Golf GTI S BASE PRICE: $24,785 for base S two-door; $25,385 for base S four-door; $26,280 for base S two-door with performance package; $26,880 for base S manual four-door with performance package; $28,800 for S automatic four-door with performance package.
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Explosion demolishes part of Washington motel moments after manager had guests evacuate

Wed, 08/19/2015 - 10:58am
An explosion demolished part of a Motel 6 in Bremerton, Washington, critically injuring a gas company worker just minutes after the acting hotel manager had evacuated the building due to a leak.
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The Latest: 5 companies bid, making for smallest federal oil lease sale smallest in history

Wed, 08/19/2015 - 10:45am
The latest on the federal oil lease sale Wednesday in the western Gulf of Mexico, off the Texas coast (all times local).
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Upstate NY-based car air freshener maker turns up nose at plan to open slaughterhouse nearby

Wed, 08/19/2015 - 10:34am
The company that invented those iconic pine tree-shaped automotive air fresheners is turning up its nose at a proposal to open a slaughterhouse near the firm's northern New York factory.
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Cal-Maine Shares Fall, CPI Shows Egg Prices Spiked Again In June

Wed, 08/19/2015 - 10:01am
Shares of the biggest U.S. egg producer Cal-Maine Foods Inc. fell 1.5% in early trade Wednesday, after government data showed egg prices spiked again in June.
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Documents: Ex-Subway pitchman Fogle paid for sex acts with minors, received child pornography

Wed, 08/19/2015 - 9:36am
The latest on federal documents accusing longtime Subway pitchman Jared Fogle of engaging in sex acts with minors and receiving child pornography (all times local): 9:35 a.m.
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U.S. Stocks Fall At Open As Consumer-price Report Hints At Rate Increase

Wed, 08/19/2015 - 9:32am
U.S. stocks opened lower Wednesday after a reading of consumer prices suggested that inflation might be rising at a sufficiently healthy pace to warrant a rate increase by the Federal Reserve as early at its next meeting in September.
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Audi discloses plans for electric SUV with 310-mile range to take on Tesla Model X

Wed, 08/19/2015 - 9:28am
German carmaker Audi says it's planning to unveil an electric sport SUV concept with a range of over 310 miles (500 kilometers) — well beyond the range of rival carmaker Tesla's Model S and soon-to-launch Model X.
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NY state bank regulator, consultant Promontory reach settlement agreement

Wed, 08/19/2015 - 9:09am
New York state's financial regulator and Promontory Financial Group say they've reached a settlement agreement over the bank consultant's reports four years ago for Standard Chartered Bank.
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Google Stock Target Gets 50% Boost On Mobile, YouTube Growth

Wed, 08/19/2015 - 9:08am
Google Inc. was upgraded to overweight from neutral at Atlantic Equities on Wednesday on recent improvements in mobile search and the potential for YouTube to serve as a "material growth driver" as advertising dollars continue to shift from traditional TV.
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