Oil fell below $50 on Wednesday, after U.S. crude oil stocks rose last week to their highest level in nearly two decades.
Turkish President Abdullah Gul called on Wednesday for a Middle East free of weapons of mass destruction, hoping that a U.S.-Russian pledge to join forces to eradicate nuclear weapons will encourage the region.
Black American community workers are wrestling with how to translate their pride over Barack Obama's presidency into tangible gains for a racial minority that often lags behind the rest of the country.
The Obama administration will name former Justice Department official Alan Bersin to oversee its policy on illegal immigration and drug-related violence along the U.S. border with Mexico, Politico reported on Tuesday.
U.S. banks have been told to keep quiet for now about results of a sweeping regulatory checkup into their health, raising questions about whether investors are being wrongly kept in the dark.
Japan's Santen Pharmaceutical Co agreed to license to Merck & Co Inc its glaucoma and ocular hypertension drug tafluprost, in a move to help drive global sales of one of Santen's key products.
U.S. senator and former presidential candidate John Kerry arrived in Sudan Wednesday for a three-day visit as the diplomatic detente between Washington and Khartoum shows further signs of a thaw.
Lindsay Lohan is looking for a lover who does not mind her alleged alcoholism or electronic monitoring bracelet, or so the famously troubled Hollywood actress said in a mock Internet dating profile.
Pirates attacked a U.S.-flagged cargo ship off the coast of Somalia with rockets and automatic weapons on Tuesday but failed to board the craft, the ship's owner and the U.S. military said.
Miner Peabody Energy Corp , whose coal fuels 10 percent of America's electricity generation, said first-quarter profit tripled as higher-price contract sales offset slumping spot coal prices.
President Mahmoud Ahmadinejad said on Wednesday Iran had prepared proposals to end a stalemate over its nuclear ambitions with six world powers, state television reported.
Oil retreated from session highs to just above $50 a barrel on Wednesday, after OPEC's latest monthly oil market report predicted a faster-than-expected drop in world oil demand.
Charles Schwab Corp said first-quarter earnings fell 29 percent as the largest U.S. online broker was hampered by lower assets valuations and interest rates as well as restructuring charges.
UBS AG will cut 11 percent of staff as it tries to stem losses and client withdrawals, its new chief executive said on Wednesday, warning that Switzerland's largest bank still faces an uncertain future.
World stocks were steady to weaker on Wednesday, trading off the previous session's 3-month high, while government bonds firmed as news of job cuts at Swiss bank UBS and weak data fanned economic concerns. UBS warned of a first-quarter loss of nearly 2 billion Swiss francs and said it would cut a further 8,700 jobs, weighing on other banking shares.
Rio Tinto Ltd/Plc's first-quarter aluminum output fell a steeper-than-expected 6 percent, iron ore production was down 15 percent while refined copper rose 33 percent as the firm struggled to balance supply with global demand.
Sanofi-Aventis has agreed to buy private U.S. cancer specialist BiPar Sciences Inc. for up to $500 million in the latest bolt-on acquisition by the French drugmaker.
Stock index futures fell on Wednesday after the Chief Executive of Wal-Mart Stores Inc said he sees no quick end to the recession, while Intel said uncertainty ruled out a clear revenue forecast.
Yahoo Inc is preparing to lay off several hundred workers in the first round of cuts since Carol Bartz became chief executive in January, a source with knowledge of the situation told Reuters.
World oil demand is shrinking faster than previously thought as a slowing global economy erodes consumption and keeps oil prices under pressure, OPEC said on Wednesday.
S&P 500 and Dow futures pared losses on Wednesday after a better-than-expected report on manufacturing activity in New York State, while CPI data showed a downturn in prices.
U.S. President Barack Obama hopes to get a climate change bill on his desk this year and is open to discussing how stringent the rules of a carbon emissions trading system should be for industry, a top adviser said on Tuesday.
