CNBC Breaking News

Wal-Mart Same-Store Sales Rise 2.4%

Wal-Mart Stores said sales at stores open at least a year rose 2.4 percent in October, topping analysts' expectations of 1.6 percent. The discount retailer said it predicts November same-stores sales to rise 1 percent to 3 percent.

Wal-Mart also said it will cut prices every week until Christmas.

Bank of England Cuts Interest Rates

The Bank of England slashed its key short-term lending rate to 3 percent from 4.5 percent. The cut of 150 basis points was bigger than the boldest prediction of economists. Many called for a 1 percentage point cut, but the consensus was for a cut of half a percentage point.

The move was the biggest cut in the history of the central bank as an independent institution.