UNITED STATES

Federal prosecutors are investigating allegations that former employees of Avon Products Inc bribed foreign officials, the Wall Street Journal reported, citing people familiar with the matter.

The Federal Reserve should begin raising U.S. interest rates and the European Central Bank should pause its monetary tightening cycle, the OECD said on Wednesday.

World stocks fell while the euro headed toward a two-month low on Wednesday on concerns about the euro zone's spreading debt crisis and the potential for a further reduction of positions in risky assets.

The U.S. Treasury made a small profit when it sold a portion of its shares in American International Group Inc on Tuesday, but it was unclear how its investment in the beleaguered insurer will ultimately fare.

A Taliban suicide bomber killed six people, ramming an explosives-laden truck into a three-storey police station in Peshawar, officials said.

Two-time Democratic presidential candidate John Edwards is likely to face an indictment for using campaign donations to conceal an extra-marital affair and love child, ABC News reported on late Tuesday.

John Edwards, former Democratic Senator and vice-presidential running mate of John Kerry in 2004, could be prosecuted in a case relating to campaign rule violation, it has been reported.

The euro slipped back toward a two-month low and oil prices fell on Wednesday as a rally the previous day fizzled on fears about Europe's spreading debt crisis and the potential for a further reduction of positions in risky assets.

The latest round of deficit talks between the White House and Congress, Vice President Joe Biden said on Tuesday, the negotiations are focusing on getting at least 1trillion dollars in the spending cuts.

The wreckage of a U.S. radar-evading helicopter that was abandoned by U.S. Navy SEAL team after the raid that killed Osama bin Laden in Pakistan has returned to the United States, a Pentagon official told Reuters on Tuesday.

At least six people were killed and many were injured in a series of thunderstorm and tornados that struck Oklahoma and Kansas City, according to US weather officials.

Tornadoes are wreaking havoc in cities in the middle of the US with deaths and damage reported.

After a devastating 0.75-mile wide tornado swept through Joplin, Missouri, residents have returned to the wreckage.

The Treasury is barely breaking even on its investment in beleaguered insurance giant American International Group Inc, according to an early litmus test of market interest in the firm's stock.

NATO has carried out its heaviest air strikes against Libya's capital Tripoli on Tuesday in more than two months of bombing, amid upbeat comments from France and the United States on overthrowing Muammar Gaddafi's rule, reported Reuters.

Israeli Prime Minister Benjamin Netanyahu’s speech to Congress sought to resell America on Israel.

Top emerging economies joined forces to slam Europe's obsolete grip on the IMF's top job, even as France's finance minister appeared to strengthen her lead in the race to replace Dominique Strauss-Kahn.

Google will unveil a mobile payment system on Thursday, May 26th, and it will run on the Android operating system available on Sprint Nexus S phones.

A big explosion rocked the city of Peshawar city of Pakistan and gravely damaged a police station on Wednesday early morning, wounding several people and causing widespread damage stated the police.

The Treasury, which owns 92 percent of American International Group Inc , is set to eke out a tiny profit as it sells its first batch of shares in the bailed-out insurer.

As frantic search and rescue efforts continue, President Barack Obama said Tuesday he was heartbroken over images from Missouri of the deadliest U.S. tornado devastation in more than 60 years and said he would travel to the area by next Sunday.