NEW YORK (AP) — Stocks are lower in afternoon trading on Wall Street as concerns about the direction of the Federal Reserve’s interest rate policy weighed on investors. The Fed is due to release minutes on Wednesday of its policy meeting last month. Oil prices fell again, dragging the energy sector lower.
WASHINGTON (AP) — President Barack Obama has met with top financial regulators at the White House to discuss progress implementing Wall Street rules. The meeting included new Federal Reserve Chair Janet Yellen, who has signaled an aggressive stance by the Fed toward regulation of big banks. The session comes four years after Obama signed a sweeping overhaul of lending and high-finance rules in the wake of the 2008 banking crisis.
WASHINGTON (AP) — A North Carolina drug maker says it is providing an experimental antiviral drug for patients with Ebola, in an emergency step authorized by the Food and Drug Administration. Chimerix says unidentified doctors sought federal permission to use an oral antiviral drug (brincidofovir) that’s in late-stage testing for treating more common viruses, including one that infects patients undergoing bone marrow transplants. Laboratory tests suggested it might also fight Ebola.
NEW YORK (AP) — Facebook has completed its acquisition of the mobile messaging service WhatsApp for almost $22 billion. That’s higher than the original $19 billion that raised eyebrows when the cash-and-stock deal was struck early this year. WhatsApp is by far the largest acquisition for Facebook, and bigger than any deals made by Google, Microsoft or Apple.
MCLEAN, Va. (AP) — Hilton Worldwide is selling the Waldorf Astoria New York to a Chinese insurance company for $1.95 billion. Hilton will continue to manage the storied hotel for the next 100 years as part of an agreement with Anbang Insurance Group. The companies say the property will undergo a major renovation.