The S&P 500 closed at a record high Wednesday as stocks were mostly higher on positive earnings reports. With about 30% of the companies in the Standard & Poor's 500 index reporting, 68% have topped estimates.
A former Jefferies Group Inc managing director convicted of defrauding investors who traded mortgage bonds through a government program established after the 2008 financial crisis was sentenced on Wednesday to two years in prison.
American Apparel has disclosed the names of four new board members, including the first female director in the history of a company known for racy advertising.
BOSTON (Reuters) - New rules announced on Wednesday will likely drive safety-oriented retail investors away from some money market funds because they highlight risks and make it harder to pull cash out when market turmoil strikes.
The recent food safety scandal in China has turned the spotlight on several U.S.-based fast-food chains operating in the country, including McDonald's, Yum Brands' KFC and Pizza Hut.