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NEW YORK (AP) — Stocks are mixed in early trading on Wall Street as traders wait for the latest policy decision from the Federal Reserve. Technology stocks are seeing some of the biggest declines after software maker Oracle reported weaker earnings and revenue than investors were expecting. The S&P 500 and the Dow started the day lower but have edged into positive territory. The Nasdaq composite is lower.
WASHINGTON (AP) — The U.S. government has reached a $1.2 billion settlement with Toyota Motor Corp. over its disclosure of safety problems. A four-year criminal investigation focused on whether Toyota was forthright in reporting problems related to unintended acceleration. Attorney General Eric Holder says the company will admit that it misled U.S. consumers. Toyota says since the recalls, its "made fundamental changes to become a more responsive and customer-focused organization."
WASHINGTON (AP) — Large increases in exports and overseas investment income have narrowed the U.S. current account deficit to the lowest level in 14 years. The Commerce Department says the imbalance fell to $81.1 billion in the fourth quarter. Petroleum and agricultural products drove the rise in goods exports. The current account is the country's broadest measure of trade, covering not only goods and services but also investment flows.
DALLAS (AP) — FedEx says its profit rose 5 percent from a year ago despite storms that raised the company's costs. But its results fell below analysts' expectations. The package-delivery giant says net income rose to $378 million, or $1.23 per share. Analysts surveyed by FactSet expected $1.45 per share. Revenue also rose, but not as much as expected.
LONDON (AP) — Britain's Treasury chief is telling Parliament that the government's austerity program will continue even though the economy is growing faster than predicted. George Osborne says the U.K. economy should grow 2.7 percent this year, making it the fastest-growing among the top 7 industrial economies. But Osborne says he must "fix the roof when the sun is shining" and further spending cuts will be needed through the next parliamentary term.
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