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Dow ends down, S&P, Nasdaq up after Fed, Oracle

The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.

Citigroup to boost salaries, cut bonuses: sources

Citigroup Inc is raising salaries companywide to offset restrictions on bonuses after the troubled bank accepted $45 billion of federal bailout money, but the move could backfire if it drives top-performing workers to other employers.

SC Gov. Mark Sanford admits affair at press conference

South Carolina Governor Mark Sanford today admitted to having an extended affair with an Argentinean woman, and announced his resignation from the Chairmanship of the Republican Governor’s Association at press conference, effectively ending his political prospects for higher office.

U.S. urges China to revoke Internet filter requirement

Top U.S. officials urged China Wednesday to abandon its proposal to require Internet filters installed on personal computers starting next month, warning the step could violate world trade rules.

More news

Dow slips, S&P and Nasdaq cut gains after Fed

The Dow industrials turned negative and the broader market pared gains on Wednesday as the Federal Reserve said the economy would remain weak for a time, denting optimism about the strength of a rebound.

Orders for big-ticket items surge, housing data mixed

An unexpected jump in U.S. durable goods orders last month backed hopes that the economy was healing, but news from the hard-hit housing market remained mixed.

U.S. judge delays Madoff restitution issues

Decisions over restitution for the thousands of investors defrauded by Bernard Madoff have been deferred for three months, the U.S. judge who will sentence the confessed swindler on June 29 ruled on Wednesday.

In 2008, High Net Worth Individuals fall by 14.5 percent

The global population of high net worth individuals fell 14.5 last year along with the economy, according to a new report.

Ford aims to halve number of suppliers

Ford Motor Co aims to cut the number of its parts suppliers by almost half by the end of 2009 as the only U.S. automaker to avoid bankruptcy attempts to shore up its supply base at a time of deep financial stress for the industry.

Durables data and Oracle boost market

Stocks gained on Wednesday after software maker Oracle's results beat expectations and durable goods orders jumped unexpectedly, giving more hope that the economy is rebounding.

Iran says may downgrade ties with Britain-report

Iran's foreign minister said on Wednesday Tehran was reviewing whether to downgrade ties with Britain, which Iran has accused of interference in its disputed presidential election, the ISNA news agency reported.

Clinton asked to keep Canada sands oil out of U.S.

An environmental group on Wednesday asked U.S. Secretary of State Hillary Clinton to deny permits for pipelines that would bring oil from Canada's tar sands to the United States.

Upbeat data lifts Wall Street

U.S. stocks rose broadly on Wednesday as durable goods orders jumped unexpectedly, reinforcing the belief the economy was healing, while quarterly results from software maker Oracle boosted technology shares.

SEC considers tough rules for money funds

U.S. securities regulators are considering tough new rules for money market funds to help avoid a repeat of what happened when the collapse of the Reserve Primary Fund wreaked havoc on the $3.67 trillion market.

Sales of new U.S. homes dip in May

Sales of newly built U.S. single-family homes slipped slightly in May, according to Commerce Department data on Wednesday that underscored that conditions in the hard-hit housing market remain fragile.

Sales of newly built U.S. homes slip in May

Obama says

President Barack Obama said in an interview aired on Wednesday that he

Praise for BB&T success amid crisis as natural gas vet joins board

Natural gas industry veteran Tom Skains praised BB&T Corp. on Wednesday for its success amid the current economic crisis as the financial firm elected him to its board of directors of directors.

Microsoft debuts power conservation website

Microsoft Corp on Wednesday unveiled its Hohm website designed to help residential power consumers save money and reduce their environmental impact by conserving energy.

Wall Street boosted by data, Oracle

Stocks rose broadly on Wednesday as surprisingly strong durable goods orders and quarterly results from software maker Oracle reinforced the belief the economy was stabilizing.

Oil rises above $69 on U.S. crude oil stock draw

Oil rose above $69 a barrel on Wednesday, supported by news of a bigger-than-expected draw in U.S. crude oil stocks and growing geopolitical troubles in some OPEC member countries.

Obama to meet Pope on July 10: Vatican source

U.S. President Barack Obama will meet Pope Benedict for the first time on July 10 during a visit to Italy to attend a G8 heads of state meeting, a Vatican source said Wednesday.

Obama says absolutely will reform health in 2009

President Barack Obama said in an interview aired on Wednesday that he absolutely will get healthcare reform completed in 2009 but declined to say what the final package would eventually look like.

OMV may walk away from Iran's South Pars project

Austrian oil company OMV AG has resisted Iranian pressure to push ahead with investment in a gas project and is prepared to be dropped as a partner, rather than invest now, an executive said on Wednesday.

OECD says downturn close to bottom

The economic outlook has improved for the first time in two years but soaring unemployment and ballooning budget deficits could knock a weak recovery off track, the OECD said on Wednesday.

Orders for big-ticket items post surprise gain

New orders for long-lasting U.S. manufactured goods rose by a much stronger-than-expected 1.8 percent in May, Commerce Department data on Wednesday showed, providing further evidence that the battered U.S. economy was finding its feet.

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