Receive Breaking News updates as they occur
Yellen said the Fed was looking at a more risk-sensitive, firm-specific approach to the test that would raise capital requirements for big U.S. banks based on their test results. Shares of JPMorgan, Bank of America and Citigroup were down between 0.2-0.5 percent. "I think what we are seeing today is really a lot of noise," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis.
Sumner Redstone's National Amusements Inc (NAI) is preparing to call on CBS Corp and Viacom Inc to explore a merger, two people familiar with the matter said on Wednesday. A merger would give Viacom, whose networks include Comedy Central, Nickelodeon and MTV, a seasoned media executive at the helm with CBS CEO Leslie Moonves at a time when its TV ratings and ad revenue have been in decline, many investors believe. Viacom shares jumped as much as 7 percent after the Reuters story was published, and were trading up 1.7 percent at $36.07 in New York in early afternoon, giving the company a market value of $14.3 billion.
Dutch-led criminal investigators said Wednesday they have solid evidence that a Malaysian jet was shot down in 2014 by a Buk missile that was moved into eastern Ukraine from Russia. Wilbert Paulissen, ...