TOP STORIES 
 
GLOBAL MARKETS RALLY ON CHINA, DRAGHI 

Global financial markets rallied after China's central bank cut interest rates and the ECB's president reiterated that the institution was ready to expand its stimulus program. The Dow industrials rose 95 points in recent trading.

 
CHINA CUTS INTEREST RATES 
 

China's central bank succumbed to political and market pressure and cut interest rates for the first time in more than two years, in a sign that the country's leadership is leaning toward more sweeping measures to bolster flagging economic growth.

 
BOEHNER SAYS WON'T 'STAND IDLE' ON OBAMA'S IMMIGRATION PLAN 
 

House Speaker Boehner vowed to respond to President Obama's decision to bypass Congress and shield as many as five million illegal immigrants from deportation.

 
HOUSE GOP FILES LAWSUIT OVER OBAMA'S HEALTH LAW 
 

House Republicans filed a lawsuit against the Obama administration over implementation of its health-care law, which GOP leaders have called executive overreach by President Barack Obama.

 
ECB SIGNALS AGGRESSIVE ACTION ON INFLATION 
 

European Central Bank President Mario Draghi sent a strong signal that the central bank is ready to "step up the pressure" and expand its asset-purchase programs if inflation fails to show signs of quickly returning to the ECB's target.

 
HONDA IN TALKS WITH SUPPLIERS BESIDES TAKATA 
 

Honda Motor is in talks with several suppliers besides Takata about securing replacement parts for vehicles recalled over defective Takata-made air bags.

 
FORD'S ALUMINUM-BODIED F-150 TRUCK MORE GAS EFFICIENT 
 

Ford Motor said its aluminum-bodied F-150 pickup mated with a new 2.7-liter, turbocharged V6 can achieve 22 mpg overall and 26 mpg on the highway, the best of any gasoline-fueled pickup available.

 
TV PROGRAMMERS GRANTED STAY IN FCC DISPUTE 
 

A federal appeals court handed TV channel-owners a preliminary victory in their standoff with the FCC over disclosure of programming contracts, raising the prospect of further delays to the agency's review of big pay-TV industry mergers.

 
SOTHEBY'S CEO RUPRECHT TO STEP DOWN 
 

Chief Executive William Ruprecht is leaving Sotheby's, months after hedge-fund activist Dan Loeb and several others joined the auction house's board. The company said the departure was by mutual agreement with the board. Sotheby's shares up 9%.

 
DUDLEY DENIES 'SERIOUS PROBLEMS' IN FED'S REGULATION 
 

New York Fed President William Dudley defended the regulator's oversight of large financial firms in the face of tough questions from Senate Democrats, who accused the Fed of kowtowing to the biggest banks.

 
OIL PRICES JUMP ON CHINA'S SURPRISE RATES CUTS 
 

Oil prices jumped after China surprised the market by cutting interest rates, fanning hopes of increased demand from the world's second-largest crude consumer.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Heard on the Street 
ECB MOVES A STEP CLOSER TO BOJ 
 

Drawing inspiration from Japan isn't readily admitted to in economic circles, Richard Barley writes. But under pressure, that looks like what the European Central Bank is doing.

 
Money Talks 
BRINGING ON THE CURRENCY WARS 
 

Central bankers struggling against weak growth and falling inflation have come up with a cunning plan: shift the problems onto someone else. Alen Mattich explains.