Equities gain
Stocks advanced yesterday as investors speculated the Federal Reserve, which began its two-day meeting, will announce more stimulus measures. The S&P 500 rose 1 percent to 1,357.98. The Dow Jones industrial average added 95.51 points, or 0.8 percent, and Nasdaq picked up 34.43, or 1.2 percent.
FedEx fade
FedEx said that slow global economic growth will crimp its earnings over the next 12 months, and it vowed to make significant cost cuts to counter any drop.
EMI snag
Vivendi SA’s Universal Music Group said it received an antitrust complaint from European Union regulators over its bid for EMI’s recorded-music business.
MetLife pop
MetLife got a three-month extension from the Federal Reserve on its dividend and buyback plans.
News Corp.
News Corp. has offered $2 billion (US) to buy Australia’s Consolidated Media Holdings in a move that would also strengthen its interest in Foxtel, that country’s largest pay-TV network. News Corp. also owns The Post.