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Preview: AP Top Business News At 7 a.m. EDT

AP Top Business News at 2:26 p.m. EDT

AP Top Business News at 2:26 p.m. EDT

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Fed announces a start to modestly reducing its bond holdings
WASHINGTON (AP) -- The Federal Reserve will begin shrinking the enormous portfolio of bonds it amassed after the 2008 financial crisis to try to sustain a frail economy. The move reflects a strengthened economy and could mean higher rates on mortgages and other loans over time....

The Latest: Fed sees slightly better growth this year
WASHINGTON (AP) -- The Latest on the Federal Reserve's monetary policy meeting (all times local):...

US stock indexes mixed ahead of Fed announcement; oil rises
U.S. stock indexes were drifting between small gains and losses in afternoon trading Wednesday ahead of the Federal Reserve's latest economic and interest rate policy update. Industrial companies, including airlines, led the gainers. Energy stocks also rose as oil prices headed higher. Technology stocks were down the most. Several packaged food companies also declined....

US home sales off 1.7 pct., hurt by Harvey and low supply
WASHINGTON (AP) -- U.S. home sales fell 1.7 percent in August, pulled down by the effects of Hurricane Harvey and a worsening shortage of available properties....

Watchdog: Airfares for many travelers rise due to bag fees
WASHINGTON (AP) -- Travelers who check at least one bag when flying domestically are paying more overall than they did before airlines began unbundling fares in 2008 and charging separately for checked baggage, a government watchdog said Wednesday....

Review: Apple Watch goes solo, but don't dump your phone yet
SANTA CLARA, Calif. (AP) -- A chief gripe with Apple Watch is that it requires you to keep an iPhone with you for most tasks. The inclusion of GPS last year helped on runs and bike rides, but you're still missing calls and messages without the phone nearby....

GOP senator defends health bill against Kimmel's attacks
WASHINGTON (AP) -- Sen. Bill Cassidy defended his health care bill Wednesday after late-night TV host Jimmy Kimmel accused the Louisiana Republican of lying to him about it, heightening the tension around the last-ditch GOP effort to make good on years of promises to repeal "Obamacare."...

Fox bid for Sky referred to UK's competition regulator
LONDON (AP) -- The British government has referred Twenty-First Century Fox's bid for satellite broadcaster Sky to competition authorities on public interest grounds, a move that sets up a six-month investigation into Rupert Murdoch's takeover plans....

The Latest: McConnell pressing ahead with health care vote
WASHINGTON (AP) -- The Latest on the Senate Republican push to repeal the Affordable Care Act (all times local):...

3 things to watch for from the Federal Reserve on Wednesday
WASHINGTON (AP) -- It will come as no surprise if the Federal Reserve has an announcement to make when its latest policy meeting ends Wednesday: That it's ready to begin paring its enormous $4.5 trillion portfolio containing Treasurys and mortgage bonds....