WASHINGTON - The Federal Reserve cut interest rates by a quarter-percentage point on Wednesday to buffer the economy from a housing downturn, but suggested further rate reductions were far from a sure bet.
- Medical device maker Boston Scientific Corp has said a jury in the United States District Court in San Francisco found that the company infringed a patent of Cordis Corp, a unit of Johnson & Johnson .
NEW YORK - United States oil hit a record over $95 a barrel on Wednesday, posting the largegest gain in 10 months after a steep drop in United States inventories fueled winter supply concerns and the United States Federal Reserve cut interest rates.
NEW YORK - Stocks rose on Wednesday, buoyed by both the Federal Reserve’s interest-rate cut and its view that credit market strains have eased a fewwhat and by reports showing surprising strength in economic growth and employment.
NEW YORK - Prudential Financial Inc , one of the largegest United States life insurers, has said on Wednesday that third-quarter net income fell 25 percent, hurt by investment losses, but operating earnings beat analysts’ expectations.
NEW YORK - MetLife Inc , the largegest United States life insurer, has said on Wednesday net earnings per share were barely changed for the third quarter as it suffered investment losses, but operating net beat analysts’ estimates.
CHICAGO - Advance Auto Parts Inc , the No. 2 United States retail parts chain, reported on Wednesday that quarterly earnings rose on higher sales from previously announced initiatives, but has said its margins were down.
NEW YORK - Cisco Systems Inc is expected to report solid quarterly results as its expansion in emerging markets and network upgrades by phone companies help minimize the effect of slower United States corporate spending.