UNITED STATES

Most economic data suggest recession in the United States will last for at least a few more months, Atlanta Fed President Dennis Lockhart said on Thursday.

The U.S. government and four states sued Dish Network Corp on Wednesday, accusing the satellite television provider of assisting its authorized dealers in calling consumers with recorded telemarketing messages.

A key congressional committee on Wednesday approved a $3.45 trillion budget framework for next year that embraces many of President Barack Obama's priorities but spends slightly less than he sought.

U.S. billionaire Charles Simonyi will roar off into space aboard a Russian rocket on Thursday to make history as the first tourist to make the odyssey twice.

Asian stocks rose to their highest in nearly three months on Thursday, led by energy and financial shares, and oil climbed on hopes the U.S. economic slowdown may be easing.

Bank of America Corp , the largest U.S. bank, is folding its Premier Banking unit into Merrill Lynch Global Wealth Management, laying off several hundred workers, the Wall Street Journal said.

The head of Toyota Motor Corp said on Thursday that industrywide sales in the United States for this month looked set to be flat or worse than the weak results seen in February.

Swiss drugmaker Roche Holding AG has secured more than 96 percent of shares in Genentech Inc , effectively completing its $46.8 billion buyout of the U.S. biotech group.

Asian shares hit their highest level in 11 weeks on Thursday on hopes the U.S. economic downturn may be easing, while the dollar recovered after its latest wobble about its status as the main reserve currency.

In a bid to quash Wall Street excesses that nearly caused the collapse of the U.S. financial system, the Obama administration will propose tough restrictions on financial firms, hedge funds and derivatives markets.

In an effort to quash Wall Street excesses that nearly collapsed the U.S. financial system, the Obama administration on Thursday will propose tough new restrictions on big financial firms, hedge funds and derivatives markets, officials said on Wednesday.

North Korea has positioned what is believed to be a long-range ballistic missile on a launch pad in what could be a preparation for launch, a U.S. counterproliferation official said on Wednesday.

President Barack Obama lobbied fellow Democrats on Wednesday to support major initiatives in his $3.55 trillion budget proposal and the White House played down differences as lawmakers sought to trim the plan to reduce long-term deficits.

The Group of 20 nations meeting next week is a make or break event for the global markets, investor George Soros said on Wednesday.

Stocks rose in a late rally on Wednesday as unexpectedly strong housing and durable goods data fueled hopes the economy is finally on the mend, offsetting concerns the United States may struggle to fund plans to pull the economy out of recession.

The world has more than enough reserves to help restore financial stability, British Prime Minister Gordon Brown said on Wednesday, but a way needs to be found of unlocking the funds.

Several more employees are leaving the controversial financial products unit that brought American International Group Inc to its knees last year, according to a person with knowledge of developments there.

IBM will cut about 5,000 jobs in the United States, adding to similarly large cuts in the past few months, sources with knowledge of the matter told Reuters on Wednesday.

Stocks rose in a late rally on Wednesday as unexpectedly strong housing and durable goods data fueled hopes the economy is finally on the mend, offsetting concerns the United States may struggle to fund plans to pull the economy out of recession.

The U.S. recession will drag on for some months before a recovery starts in late 2009 or early 2010, but the future is still clouded by risks, top Federal Reserve officials said on Wednesday.

New orders for long-lasting U.S.-made goods rose in February for the first time in seven months and new home sales rebounded, government data showed on Wednesday, suggesting the economic downturn might be easing a bit.