UNITED STATES

Bernanke to defend his record and the Fed's

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Federal Reserve Chairman Ben Bernanke vowed before taking office to follow in the footsteps of his storied predecessor, Alan Greenspan, but he will likely distance himself from the past as he seeks a second term.

Futures point to Wall Street extending gains

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Stock index futures pointed to U.S. shares mostly extending their gains on Wednesday, with the Dow Jones industrial average having hit a 14-month closing high in the previous session.
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Gold sets new record, risk appetite boosts shares

Gold scaled another all-time high above $1,200 an ounce on Wednesday, helped by a weaker dollar as it lost some of its safe-haven appeal due to upbeat U.S. home sales and renewed appetite for riskier assets.
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Obama spells out new Afgan Policy

President Obama announced Tuesday night that he will reinforce Afghanistan with some 30,000 more United States troops to reverse the momentum of the Taliban insurgents, and begin to withdraw in July, 2011.
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Obama's Speech -- Full Text

Following is the prepared text of President Obama's address on a new strategy for the war in Afghanistan, as released by the White House on Tuesday:
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Simon Cowell gambling on Internet Vegas talent show

British TV and record producer Simon Cowell, one of the most successful entrepreneurs in British and U.S. show business, is planning to bring his The X Factor talent show to Las Vegas in a global pay-per-view Internet venture.
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Black Eyed Peas announce 100-date world tour

The Black Eyed Peas announced an ambitious 100-date world tour, including a series of 2010 shows in North America, the popular hip-hop group's first full-scale tour of the U.S. and Canada in nearly four years.
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Why would Obama speed the Afghan deployment?

President Barack Obama will unveil plans on Tuesday to send some 30,000 more U.S. troops to Afghanistan over six months, a senior administration official said, an escalation he hopes will permit a quicker U.S. exit.
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Lifting the veil on Obama's Afghan strategy

President Barack Obama will unveil his new strategy for the war in Afghanistan in a prime-time televised speech on Tuesday. But in the hours beforehand, officials offered a preview of what he will tell Americans, who are sharply divided over the war.
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Obama to offer troop increase, timetable for Afghan

President Barack Obama will say on Tuesday he is sending 30,000 more U.S. troops to Afghanistan by next summer to speed the battle against the Taliban and plans to bring some soldiers home in 19 months.
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GM CEO Henderson was dismissed by board: source

General Motors Co's board of directors, citing a need to chart a new course, dismissed Chief Executive Fritz Henderson on Tuesday, a person with direct knowledge of the proceedings said.
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Fed's Plosser says policy must be preemptive

The U.S. Federal Reserve must be prepared to raise interest rates if needed before the jobless rate has fallen to an acceptable level, or risk losing its inflation-fighting credibility, a senior Fed official said on Tuesday.
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GM board fires CEO Fritz Henderson in shakeup

General Motors Co's board of directors fired Chief Executive Fritz Henderson on Tuesday, saying it wanted to chart a new course as the top U.S. automaker pushes ahead with its restructuring.
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Michael Jackson beats out Sarah Palin as most searched term in 2009

Michael Jackson's surprising death made him the most searched term online in 2009. Michael Jackson is the only search term to appear on all three (Google, Bing and Yahoo) search engine's top 10 lists, and at the top of the three lists. On Yahoo, it ended singer Britney Spears' four-year reign as the most searched term.
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Dow hits 14-month high on data, dollar and Dubai

The Dow Jones industrial average climbed to its highest close in 14 months on Tuesday as a weak dollar boosted natural resource companies' shares and economic data reinforced hopes for a sustainable recovery.
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U.S. auto sales edge up, led by Hyundai boom

U.S. auto sales edged higher in November, led by an outsized gain for Hyundai Motor Co and mixed results for rivals in a trend automakers said pointed to a grudging recovery in the U.S. economy.

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