NEW YORK (AP) — U.S. stocks were drifting between small gains and losses on Wednesday following two days of losses. Worries over the timing of a U.S. rate increase and economic weakness in China kept trading subdued.
MADRID (AP) — Spanish banking magnate Emilio Botin, who built the country's Banco Santander into a global financial giant and was widely seen as the nation's most influential business leader, has died of a heart attack, the company said Wednesday. He was 79.
The Commerce Department said on Wednesday wholesale inventories edged up 0.1 percent, the smallest rise since July of last year, after a 0.2 percent gain in June. The component that goes into the calculation of GDP - wholesale stocks excluding autos - was flat. The rise in overall stocks at wholesalers in July was well below the 0.5 percent increase that Wall Street had anticipated, leading some economists to lower their GDP growth estimates for the July-September quarter. A report last week showed stocks of manufactured goods at factories rose only 0.1 percent in July.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 7.2 percent in the week ended Sept. 5. Fixed 30-year mortgage rates averaged 4.27 percent in the week, up from 4.25 percent the week before.
BOSTON (AP) — Women's colleges are revisiting policies around enrolling transgender students as institutions of higher learning — single-sex, coed and those with religious affiliations — demonstrate varying degrees of acceptance for changing norms.
The National Highway Traffic Safety Administration on Tuesday said its Office of Defects Investigation is assessing "the scope, frequency and safety consequences" of alleged engine stalling after refueling in the Chrysler vans. A spokesman for Chrysler Group, a unit of Fiat SpA , on Wednesday said the automaker "will actively support NHTSA's efforts to investigate" the claims, adding that the agency's investigation notice "cites no injuries or accidents related to this reported condition." NHTSA said it had received eight complaints from consumers related to the issue. Another complaint posted in February said "vehicle stalls immediately after filling gas tank" and that the stalling "has happened repeatedly in traffic." NHTSA has received numerous complaints about the same problem on the Chrysler Town & Country, a companion model to the Grand Caravan, including 20 complaints on the 2004 Town & Country and 25 complaints on the 2005 Town & Country.
BRUSSELS (AP) — Britain and France have secured two top positions on economic and financial policy-making in the new European Commission as the 28-nation bloc's executive arm seeks to revive anemic growth and fight unemployment.