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GM recalling Cadillac SUVs to tighten wheels

General Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off.

How the Dow Jones industrial average fared

Stock indexes fell on Wall Street on fear the Federal Reserve could pull back from its stimulus programs soon.

Summary Box: Stocks close lower on Fed fears

MIXED MESSAGES: Stocks surged in the early going after Fed chairman Ben Bernanke told Congress the central bank was unlikely to pull back from its stimulus programs soon. Then minutes from a Fed meeting were released that suggested other policymakers think a pullback is possible as early as next month, and stocks dropped.

Fisher-Price moving, eliminating about 100 NY jobs

Toy maker Fisher-Price says it's moving or eliminating roughly 100 jobs from its New York operations as part of restructuring by parent company Mattel Inc.

BERNANKE-EEUU

A divided Fed wrestles with when to slow bond buys

The Federal Reserve is torn over when to slow its aggressive efforts to stimulate the economy.

Tesla uses stock, note sale to repay government

Tesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early.

FDA panel backs experimental Merck insomnia drug

A federal panel of medical experts said that an experimental insomnia drug from Merck & Co. Inc. appears safe and effective, despite evidence from company trials that the pill can cause daytime sleepiness and difficulty driving.

Penney secures $2.25B loan as it seeks turnaround

J.C. Penney Co. said Wednesday it has secured a $2.25 billion loan, $500 million more than it had expected, as it tries to stop a collapse in its sales.

South Korea trade deal produces bleak first-year results for U.S.

More than a year after it took effect, a highly touted trade deal with South Korea has failed to produce as expected for the U.S.: Exports are down, imports are up and the trade deficit with the Asian economic powerhouse has ballooned.

Wall Street

Stocks fall on news Fed weighed cutting stimulus

Stocks are closing lower on news that several Federal Reserve policymakers favored cutting back on stimulus programs as early as June if the economy continues to improve.

Iceland forms center-right govt, halts EU talks

The leader of the center-right Progressive Party was chosen as Iceland's new prime minister Wednesday and promptly announced a halt to talks with the European Union about joining the 27-nation bloc.

Fiat Industrial aims to shift tax home to Britain

Fiat Industrial disputed as "absolutely false" reports Wednesday that Italy would lose 500 million euros ($646 million) in tax revenues if it moves its tax base to Britain after it completes a merger with its U.S.-based subsidiary CNH Global NV.

Glaxo, US partnering to develop new antibiotics

GlaxoSmithKline PLC says it's starting an unusual collaboration with the U.S. government to develop several antibiotics for both bioterrorism threats and bacterial infections resistant to current medicines.

Wal-Mart hires Hill & Knowlton executive

Wal-Mart Stores Inc. named Dan Bartlett, most recently president and CEO of the U.S. arm of global business advisory firm Hill & Knowlton Strategies, as its new executive vice president of corporate affairs.

Pfizer plans offering to pare Zoetis stake

Drugmaker Pfizer Inc. plans to try to sell its controlling stake in its former animal health business, Zoetis Inc., through a voluntary stock exchange with Pfizer shareholders.

Fed weighed slowing its pace of bond purchases

Several Federal Reserve policymakers this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as June - if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains.

Japan Falling Yen

Weak yen a help for Japan, but headache elsewhere

A steady fall in the value of the yen is proving a godsend for exporters such as Toyota. The cheaper yen is making their products more affordable overseas.

CEO Pay top 10

AP PHOTOS: The 10 highest-paid CEOs of 2012

It pays to be in TV.

Wall Street

Stocks fall on news Fed weighed cutting stimulus

The Federal Reserve took financial markets for a ride Wednesday, pushing stock prices up in the morning then sending them down in the afternoon.

Oil falls near $94 on small drop in supplies

The price of oil fell near $94 a barrel Wednesday as the nation's oil supply fell less than expected and demand for gasoline remained weak.

How The AP and Equilar calculate CEO pay

For its annual survey of CEO pay, The Associated Press uses data provided by Equilar, an executive pay research firm.

On top of big salaries, companies pile on perks

Wynn Resorts kept a suite open all year at its tony Las Vegas hotel and casino for founder and CEO Steve Wynn, at a cost of nearly $452,000.

Home Sales

US home sales tick up to highest in 3 1/2 years

Sales of previously occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale.

AAA-Memorial Day Travel

AAA: 31.2M drivers to take Memorial Day road trip

It's going to be another busy Memorial Day weekend on the nation's highways.

Stocks edge higher as investors watch the Fed

Stocks are opening slightly higher as investors watch for the latest moves from the Federal Reserve.

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