Last Update on June 19, 2013 07:39 GMT
SEOUL, South Korea (AP) -- Asian markets were mostly lower today as investors waited for an update on the U.S. economy from the U.S. Federal Reserve.
The results of a two-day Fed policy meeting will likely ripple through stock markets once investors learn whether there will be changes in the U.S. central bank's strategy for shoring up the world's No. 1 economy. The meeting is set to wrap up today in Washington.
Benchmark crude oil fell but remains above $98 per barrel. The dollar gained against the euro and fell slightly against the yen.
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) -- Federal Reserve policymakers wrap-up a two-day meeting to set interest rates this afternoon. They'll issue a statement and an economic forecast at 2:00 p.m. A half hour later, Fed Chairman Ben Bernanke has a news conference scheduled.
Investors have been playing a guessing game lately over when the Fed might trim back its stimulus efforts that have kept interest rates at historic lows.
WASHINGTON (AP) -- The chairman of the Securities and Exchange Commission says the agency will start requiring companies and individuals to admit wrongdoing in some big settlements.
Currently the SEC allows companies and individuals to settle charges without admitting or denying wrongdoing. Critics, including a federal judge, have complained that policy doesn't deter repeat violations.
Mary Jo White says the SEC will now demand admissions in cases involving serious fraud or harm to investors, and where "it's very important to have that public acknowledgement and accountability." She disclosed the planned policy change Tuesday at a conference organized by The Wall Street Journal.
At the same time, White said the SEC will retain "no admit or deny" for most enforcement cases, calling it an important tool for winning settlements.
ENNISKILLEN, Northern Ireland (AP) -- At the G-8 Summit in Northern Ireland today, leaders laid out sweeping goals for tightening the tax rules on global corporations.
Companies such as Google and Apple have exploited loopholes that allow them to shift profits into foreign shelters that charge little or no tax. But, the initiative only lays out goals, not binding commitments.
Still, Britain heralded the agreement as a good first step toward creating an environment of corporate transparency. A key principle in the plan would require multinationals to declare how much tax they pay in each country.
U.S. Senate hearings this year investigating the tax payment policies of Apple found that the smartphone and computer innovator also has developed some of the world's most innovative tax-avoidance policies. Apple admitted it used, legally, two companies registered in Ireland -- but in one case managed from the U.S. state of Nevada -- to manage much of the company's non-U.S. profits worldwide and paid taxes at a rate of less than 1 percent.
British lawmakers likewise have sharply criticized Google UK for registering all of its regional sales in neighboring Ireland, which charges half the rate of corporate tax.
DETROIT (AP) -- After initially defying federal regulators, Chrysler now says it will recall some older-model Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions.
But the recall covers only 1.56 million of the 2.7 million Jeeps that the government wanted repaired. The rest are part of a "customer service action" and many may not get fixed.
Still, by giving in to government pressure, Chrysler avoids a showdown with the National Highway Traffic Safety Administration that could have led to public hearings with witnesses providing details of deadly crashes. NHTSA says a three-year investigation showed that 51 people died in fiery crashes in Jeeps with gas tanks positioned behind the rear axle.
The deal still leaves some Jeep owners with gas tanks that NHTSA just two weeks ago said were risky. Chrysler maintains that they are safe and need no repairs.
The company will recall 1.56 million Jeep Libertys from the 2002 model year through 2007 and Grand Cherokees from 1993 through 1998. About 1.2 million Grand Cherokees from the 1999 to 2004 model years will be part of the "customer service action."
LOS ANGELES (AP) -- DreamWorks Animation SKG Inc. says its new deal to provide original TV shows to Netflix will help it double the revenue it gets from TV shows to $200 million by 2015.
DreamWorks expects $100 million in TV revenue this year. The Glendale, Calif., company released the figures in a call with analysts Tuesday.
The deal to supply Netflix Inc. with 300 hours of new TV shows over several years was announced Monday. It allows Netflix to debut the shows in the 40 markets where the video company operates. DreamWorks also announced Tuesday that it will supply new TV shows to German broadcaster Super RTL, where Netflix doesn't operate.
DreamWorks shares are up 44 cents to $24.75 in aftermarket trading. The stock has gained 6.6 percent this week.
NEW YORK (AP) -- The mayors of New York, Los Angeles, Chicago and 15 other cities are reviving a push against letting government food vouchers be used to buy soda and other sugary drinks.
In a letter to congressional leaders Tuesday, the mayors say it's "time to test and evaluate approaches limiting" the use of the subsidies for sugar-laden beverages, in the interest of fighting obesity and related diseases.
New York Mayor Michael Bloomberg says the food stamp program needs to promote good nutrition and should not for items with no nutritional value that "are actually harming the health of participants."
Bloomberg is known for trying to bar eateries from selling sugary drinks in big sizes and has tried before to stop food stamps from going to buy soda. The U.S. Department of Agriculture turned down a 2010 request to let New York City do that.
The USDA declined to comment on Tuesday's letter. The American Beverage Association had no immediate comment.
SOLAR CHARGING STATIONS
NEW YORK (AP) -- It's a sight that can trigger dread: the low-battery message on your cellphone when there's no charger around.
But New Yorkers needing a little extra juice will have some new options this summer.
The city is teaming up with AT&T to install 25 solar-powered charging stations in parks across the five boroughs. The charges will provide a free boost to dying phones and other mobile devices.
The solar technology in the "Street Charge" stations can fully charge up to 30 phones before it needs its own recharge -- even with cloud cover and during the night.
The idea came about after Superstorm Sandy. The storm left New Yorkers desperately searching for power to contact friends and loved ones.
UNITED AIRLINES-FREQUENT FLIER
CHICAGO (AP) -- United Airlines is making it a little harder to get a higher frequent-flier status.
That status used to require flying 25,000 miles per year. Now, United is adding a requirement for at least $2,500 in spending, too, to qualify for status in its MileagePlus program.
Most frequent fliers would spend that much anyway if they are earning 25,000 miles. But those who buy discounted tickets might be affected.
Travelers like to get so-called "elite" status because of seat upgrades and other perks.
The change takes effect next year for travelers trying to earn status in 2015. Taxes and bag fees won't count toward the spending total.
United Continental Holdings Inc. announced the change Tuesday. It matches a change made by Delta Air Lines Inc. in January.