All eyes are on the Federal Reserve Wednesday as investors gear up for the results of a two-day policy meeting that wrap ups with a statement at 2 p.m.

NEW YORK - Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday.

SoftBank moves closer to acquiring Sprint Nextel Sprint Nextel after Dish Network said it won't make another bid for Sprint. By dropping the pursuit of Sprint, Dish's billionaire chairman Charlie Ergen will allow Sprint to slip to another billionaire chief, SoftBank's ...

Korean Air Lines Co. (003490) agreed to buy five Boeing Co. (BA) 747-8 passenger planes as part of a planned $3.6 billion purchase of wide-body aircraft, giving a sales boost to a jumbo jet whose output is being cut due to weak demand.

Yields on 10-year Treasurys have lurched 50 basis points upwards since May on fears the Federal Reserve may start scaling back its asset purchasing program, and some economists now forecast yields could reach 3 percent by year-end.

The cost of living in the US rose slightly in May as higher energy costs were offset by the first drop in food prices in almost four years, signalling inflation remains at bay.

FedEx Corp. (FDX), the world's largest cargo airline, forecast full-year earnings below analysts' estimates amid tepid economic growth and customers' preference for less expensive international shipping services.

Alcatel-Lucent SA (ALU) will sell 1 billion euros ($1.3 billion) of assets and slash costs by another 1 billion euros in a bid by Chief Michel Combes to turn the company around -- something his predecessors tried, and failed, to do for seven years.

Houston's Astrodome stadium, New York's old Pan Am Worldport Terminal at Kennedy Airport and Montana's one-room schoolhouses are joining a list of the nation's most endangered historic places.

NEW YORK (AP) -- Activist investor Carl Icahn on Tuesday proposed a $16 billion share buyback in his latest effort to thwart Dell founder Michael Dell's effort to take the struggling computer maker private.