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Wires

  • FedEx joins a string of companies that reported big drops in earnings because of the NotPetya virus, which hit on June 29, crippling Ukraine businesses before spreading worldwide to shut down shipping ports, factories and corporate offices. While the Memphis- based company has made progress restoring operations at TNT Express, which it acquired last year for...

  • *Fed balance sheet to shrink up to $10 billion per month at first. WASHINGTON, Sept 20- The U.S. The Fed, as expected, also said it would begin in October to reduce its approximately $4.2 trillion in holdings of U.S.

  • *As expected Fed to reduce $4.5 trillion balance sheet in October. "Right now, the market sees the Fed more hawkish than anticipated," said Tim Alt, director of currencies and rates at Aviva Investors. Some traders had thought catastrophic damage from Hurricanes Harvey and Irma in Texas and Florida might force the Fed to postpone a rate increase until next year.

  • The major U.S. stock indexes closed mostly higher Wednesday, led by gains among banks as bond yields rose. The modest gains came after investors weighed the latest policy update from the Federal Reserve, which said it would begin reducing its huge bond portfolio next month. The Russell 2000 index of smaller-company stocks added 5.02 points, or 0.4 percent, to...

  • *Canadian dollar at C $1.2329, or 81.11 U.S. cents. *Loonie touches its weakest since Sept. 6 at C $1.2390. TORONTO, Sept 20- The Canadian dollar weakened to a two-week low on Wednesday against its U.S. counterpart, reversing earlier gains, after the Federal Reserve signaled that it expected to raise interest rates once more by year-end.

  • NEW YORK, Sept 20- The House Financial Services Committee is seeking information about certain Equifax Inc options trades made weeks before the credit reporting company disclosed a data breach, according to CNBC report on Wednesday. On Aug. 21, 2,500 put contracts betting on Equifax shares dipping below $135 by Sept. 15 traded for a total price of about $181,000.

  • RENO, Nev.— The Latest on tests for new bridge construction technology intended to withstand strong earthquakes at the University of Nevada, Reno:. The University of Nevada, Reno engineers performed the test Wednesday, a day after the big Mexico earthquake. A day after a deadly earthquake struck Mexico City, University of Nevada scientists will mimic quakes to...

  • HOUSTON, Sept 20- U.S. oil producer Anadarko Petroleum Corp said on Wednesday it would spend $2.5 billion to buy back its own stock, a plan worth roughly 10 percent of its outstanding shares at current prices. Anadarko, which has a 5 cent dividend that is far below peers, said it would spend $1 billion by December on buybacks and the remaining $1.5 billion by the end of...

  • TOKYO, Sept 21- The Bank of Japan is expected to reassure markets on Thursday that it will lag well behind its U.S. counterpart in scaling back its massive stimulus, as an improving economy has yet to boost inflation anywhere near its elusive 2 percent target. Premier Shinzo Abe's expected decision to call a snap election and delay the timing for achieving his...

  • The Fed, as widely expected, left interest rates unchanged at the conclusion of its latest two-day policy meeting and announced an October start date for the process of winding down its $4.2 trillion portfolio of bonds. U.S. benchmark 10- year Treasury note yields rose as much as 2.29 percent, the highest since Aug. 8., while two-year yields rose to the highest since...

  • A look at the AP Municipal Bond Index for Wednesday, Sept. 20:. Yield increased 6 basis points over the last week to 1.68 percent. It was 3 basis points on Sept. 13.

  • Sept 20- Activist investor Jana Partners said EQT Corp's plan to save $2.50 billion after its acquisition of Rice Energy Inc was "grossly exaggerated", further mounting pressure on the oil and gas producer to abandon the deal. "EQT is confident that the present value of synergies to be realized are in excess of $2.50 billion," company spokeswoman Natalie Cox said.

  • *Index touches highest level since June 12. TORONTO, Sept 20- Canada's main stock index rallied to a 14- week high on Wednesday, propelled by energy and financial stocks, as well as a surge in Air Canada shares after investors cheered the airliner's outlook. Canadian Natural Resources rose 2.4 percent to C $41.44, while Encana Corp advanced 4.5 percent to C $13.69.

  • Sept 20- Electric carmaker Tesla Inc is working with Advanced Micro Devices Inc to develop its own artificial intelligence chip for self-driving cars, CNBC reported on Wednesday, citing a source familiar with the matter. AMD spin-off GlobalFoundries Inc Chief Executive Sanjay Jha said his company is working directly with Tesla, according to the CNBC report.

  • NEW YORK, Sept 20- The S&P 500 and the Dow ended slightly higher on Wednesday, adding to their string of closing records, after the Federal Reserve signaled it expects another interest rate hike by year-end and disclosed timing for reducing its balance sheet. In line with expectations the Fed said it would begin in October to cut its roughly $4.2 trillion in U.S.

  • United Parcel Service Co. said Wednesday that it plans to hire about 95,000 workers to handle the surge in packages from late November through January. Rival FedEx Corp. said earlier this week that it would hire about 50,000 people for the holiday season, the same as last year. FedEx will skip special charges on most packages shipped during the holiday season in...

  • General Mills Inc., down $3.21 to $52.17. Western Digital Corp., down $3.55 to $86.37. Western Digital's partner Toshiba said it approved a deal to sell its chip business to Bain Capital.

  • NEW YORK, Sept 20- Oil prices settled up 2 percent on Wednesday despite a rise in U.S. crude inventories, with the market heading for its largest third-quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts. Brent crude futures rose $1.06, or 1.9 percent, to $56.20 a barrel, while U.S.

  • NEW YORK— The Consumer Financial Protection Bureau could have fined Wells Fargo in excess of $10 billion for its illegal sales practices but instead settled for $100 million, according to the agency's internal documents released by Congressional Republicans this week. The CFPB also had evidence that the bank's sales problems went back to at least 2006— far...

  • NEW YORK— Facebook is apologizing for letting advertisers use phrases like "Jew-haters" as a targeting criteria and for not noticing it until it was pointed out. Sheryl Sandberg, Facebook's chief operating officer, wrote in a post on Wednesday that the company "never intended or anticipated this functionality being used this way— and that is on us."