The S&P 500 has closed at a new record high after strong Apple earnings lifted the tech sector on a mixed day for stocks. The S&P 500 added 3.48 points (0.18 per cent) at 1,987.01, breaching a record set three weeks ago by about three points.
American Apparel has lost nearly $270 million in the last four years and is more than $200 million in debt. In March, it sold $28.6 million in stock to meet debt obligations.
... * China food regulator visits 581 food-related businesses. * Sends out 875 staff to conduct inspections. * Five staff at Shanghai Husi Food detained on Wednesday (Adds background, story links).
Facebook's fast-growing mobile advertising business helped drive a 61 per cent increase in revenue during the second quarter, beating Wall Street's financial targets and sending shares to a record-high in after-hours trading on Wednesday.
Texas GOP Sen. Ted Cruz charged Wednesday that the Obama administration's decision to temporarily suspend flights to Israel was tantamount to an economic boycott of Washington's closest Middle East ally.