Fed Notes Strength; Rates to Stay Low

The Fed said the U.S. economy continues to strengthen, but the slack left over from the recession is still so large that it expects interest rates to stay near zero for an "extended period."

Crist to Make Senate Bid as Independent

Florida Gov. Charlie Crist has decided to exit the Republican primary for U.S. Senate and run instead in the general election without a party affiliation.

S&P Downgrades Spain

Standard & Poor's downgraded Spain's long-term credit-rating by one notch, in a new sign of a deepening euro-zone sovereign debt crisis.

Greek Rescue Plan May Top ?100 Billion

Germany said it is ready to rush through its share of the Greek bailout aid. A German lawmaker said the IMF expects a total bill of between ?100 billion and ?120 billion.

Continental Board Meets

The board of Continental Airlines met on Wednesday to discuss the potential deal with UAL's United Airlines and has a second meeting planned for Friday.

Toyota Recalls Sequoia SUVs

Toyota recalled 50,000 Sequoia sport-utility vehicles from the 2003 model year over issues with the electronic stability-control system.

JAL Unveils Plan to Cut Routes

Japan Airlines said it will end flights on 45 routes during the current fiscal year as the carrier accelerates a cost-cutting program.

RBS Shareholders Approve Incentive Plan

RBS shareholders, including the U.K. government, approved a new long-term incentive plan for executives after the bank was pressured to raise the share-price target that would trigger part of the payouts.

Imax, Warner Bros. in Pact

Imax and Warner Bros. signed a pact to release as many as 20 giant-format films through 2013.

JetBlue Reports Loss

JetBlue swung to a surprise first-quarter loss, despite rising revenue, and said it plans to ramp up flights between Boston and Washington, D.C.

Sempra Settles California Dispute

Sempra Energy has reached an agreement to settle substantially all of the remaining litigation against the company related to California's energy crisis a decade ago.

Defense Results Mixed

Northrop Grumman reported that sales grew in nearly all of its businesses, while General Dynamics said sales fell in all but one of its segments.