The Federal Reserve released the minutes from their mid-March meeting which showed that the overwhelming majority of its members believed that they should wait until 2015 or later to increase short-term interest rates. This news sent stocks soaring, especially the Dow Jones which rose 181 points on the day. Toyota (TM) is trying to avoid the recall situation that has encompassed General Motors (GM) over the past month. Toyota announced that it will be recalling around 6.4 vehicles worldwide. But unlike GM, Toyota decided to be proactive and announced the recall before any accidents, injuries, or deaths have occurred. To focus more on its profitable core businesses, Procter & Gamble (PG) will be selling a portion of its pet food brands to Mars for $2.9 billion.
Word on the Street
- The Fed releases minutes from mid-March meeting.
- T-Mobile (TMUS) announces cheaper plan options.
- HP (HPQ) must pay $108 million in bribery case.
- Toyota (TM) recalls approximately 6.4 million vehicles.
- Apple’s (AAPL) iWatch may be debuted as early as September.
- Is Amazon (AMZN) Prime worth $99 a year?
- Ctrip.com International (CTRP) up on acquisition rumors.