Reuters - The Federal Reserve lowered a key
U.S. interest rate by a modest quarter percentage point on
Wednesday in what may be the last of a series of cuts aimed at
aiding an economy hit hard by a housing slump and credit market
turmoil.
Reuters - Stocks were broadly higher on
Wednesday shortly before the release of the Federal Reserve’s
latest decision on interest rates.
AP - The bruised economy limped through the first quarter, growing at just a 0.6 percent pace as housing and credit problems forced people and businesses alike to hunker down.
Reuters - General Motors Corp posted a
narrower-than-expected quarterly loss on Wednesday as sales
gains in Asia and Latin America overshadowed a slump in the
U.S. market, sending its shares up 13 percent.
Reuters - The New York Stock Exchange said on
Wednesday that Virgin Mobile USA declined to comment on
unusual activity in the cell phone company’s shares.
Reuters - A buildup in inventories kept the
economy afloat in the first quarter despite the weakest
consumer spending since 2001 and reduced business investment, a
government report on Wednesday showed.