What the Fed is mulling

The Federal Reserve is expected to give a nod to signs the U.S. recession is waning but will likely warn that the recovery will be slow and dampen any expectations it will soon start to raise interest rates. See Full Article here.

U.S., UBS have initialled agreement in tax dispute.

The U.S. government and Swiss bank UBS AG have initialled agreements to settle their tax evasion dispute, a U.S. government attorney said on Wednesday, ending weeks of tough negotiations between the two sides. See Full Article here.

Auto inventories tight, U.S. clunker interest slips

Red hot auto sales under the U.S. government's cash for clunkers incentive began to cool as dealer inventories tightened and showroom traffic showed signs of leveling off from its frantic pace of a week ago. See Full Article here.

Macy's posts profit, new outlook could fall short

Macy's Inc posted a better-than-expected quarterly profit on Wednesday as it cut costs in the recession, but the department store operator's shares fell 2.2 percent in premarket trading as it offered a full-year earnings outlook that could miss Wall Street estimates. See Full Article here.

Nestle trims 2009 outlook as sales disappoint

Nestle , the world's biggest food group, pared its full-year outlook on Wednesday after missing forecasts with first-half organic sales growth of 3.5 percent, knocking its shares lower. See Full Article here.

U.S., Mexico probe oil thefts from Mexican company

The U.S. and Mexican governments are probing a scheme to steal millions of dollars worth of crude oil and refined products from Mexico's state-owned oil company and sell it to U.S. refiners, a U.S. official said on Monday. See Full Article here.

BHP cautions on outlook as metals bash profit

BHP Billiton Ltd/Plc , the world's largest miner, gave a guarded outlook for global commodity demand, sending a worrying signal for weaker rivals, after a slump in metals prices triggered its first profit decline in seven years. See Full Article here.

China formally arrests Rio Tinto employees

Australia said on Wednesday that charges against four staff from Anglo-Australian miner Rio Tinto appeared to have been downgraded after China formally arrested the men but left aside accusations they stole state secrets. See Full Article here.

Microsoft plans Office tie-up with Nokia

Microsoft Corp said it will announce an alliance with Nokia on Wednesday, likely unveiling plans to make the software company's Office suite of applications available on devices made by the world's top cellphone manufacturer. See Full Article here.

GM says will not reopen Opel sale process

General Motors Co GM.UL has no intention of reopening the sale process for its European Opel operations and remains intent on reaching a deal with one of the two remaining bidders as quickly as possible. See Full Article here.