NEW YORK (AP) — Stocks are sliding in afternoon trading on Wall Street, a day after the Standard & Poor’s 500 index had its biggest gain of the year. The Dow Jones industrial average is on track to end three days of gains after a stretch of tumultuous trading. European markets rose on hopes that the European Central Bank will step up its economic stimulus as the eurozone teeters on the brink of recession again.
WASHINGTON (AP) — Federal regulators are proceeding with new rules that could mean fewer borrowers will need to make hefty down payments. The Securities and Exchange Commission today voted 3-2 to ease guidelines for banks selling mortgage securities. Three other agencies adopted the rules yesterday, and the Federal Reserve has scheduled a vote for this afternoon. The rules govern the amount of risk banks must take on when they package and sell mortgage securities.
MOUNTAIN VIEW, Calif. (AP) — Google is introducing an application designed to make it easier for its Gmail users to find and manage important information that can become buried in their inboxes. The service, called Inbox, can sort electronic receipts and bank statements into bundles so they can be quickly fetched. Google says Inbox can also figure out the key points of an email, such as travel itineraries, event times and photos, and highlight the information.
NEW YORK (AP) — Samsung and bookseller Barnes & Noble are introducing a new, larger-screen Galaxy Tab 4 Nook tablet two months after the first version was announced. They’re offering a tablet with a 10.1-inch diagonal screen for $299.99. The tablets are competing in a crowded field that includes Apple’s iPad and Amazon.com’s Kindle Fire, both available in more than one size.
DETROIT (AP) — The U.S. government has told BMW to reduce the gas mileage estimates for four of its Mini Cooper models after an audit found the figures on window stickers were overstated. The Environmental Protection Agency says the discrepancy varies from one to four miles per gallon depending on model. Affected are 2014 Mini Cooper three-door and Mini Cooper three-door S models with manual and automatic transmissions.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
