Large and small U.S. retailers have reported signs of cautious spending by consumers, who are feeling the pain of higher food and gasoline prices as the housing market decelerates after buoying consumer confidence and spending for years. Retailers Men's Wearhouse, American Eagle Outfitters Inc and PetSmart Inc cut profit forecasts on Wednesday after a wave of weak sales reports.
Stocks around the world extended gains on Thursday while the yen slipped against the dollar after the Bank of Japan decided not to change interest rates.
Retail shares were mixed on Tuesday despite a strong performance from Costco Wholesale Corp, which rose sharply on expectations of higher profits.
The Dow Jones Industrial Average and Standard & Poor's 500 indexes fell on Wednesday after setting new highs a day earlier as the latest earnings report season kicked off with lower profit expectations and news from blue-chip companies raising concern among investors.
Wheat rose for the first time on Wednesday after prices dropped from a record high last month.
Oil prices jumped on Wednesday as expectations for tighter fuel inventories surfaced as the Norther Hemisphere moves into the winter season.
The dollar fell on Wednesday as concern crept back into the market that the Federal Reserve may cut interest rates again this year to prevent a weak housing sector from damaging the broader economy.
World stocks stretched to record highs on Wednesday, led by emerging markets, while the dollar slipped on reduced hopes of a new U.S. interest rate cut.
The United States urged Brazil on Wednesday to use its influence with developing nations to ensure that the long-running Doha round of global trade talks do not end in a stalemate.
Antitrust experts predict that Google Inc's purchase of advertising company DoubleClick for $3.1 billion will be approved by U.S. regulators despite vehement opposition from competitors Microsoft Corp and Yahoo Inc.
The credit crunch that has troubled financial markets in recent months will eventually take its toll on the U.S. economy, former Federal Reserve Chairman Alan Greenspan said on Wednesday.
Three banks led by Britain's Royal Bank of Scotland clinched victory in the battle for ABN AMRO on Wednesday, declaring their 70 billion euro ($99 billion) offer for the Netherland's biggest bank unconditional.
Stocks fell on Wednesday as investors worried about the outlook for profits after Alcoa Inc's earnings missed estimates and Chevron Corp joined companies issuing profit warnings.
Oil held near $80 a barrel on Wednesday, with the market underpinned by expectations of tighter fuel inventories ahead of winter.
The U.N. nuclear watchdog's head is in India as a debate rages over the country's nuclear deal with the United States.
U.S. economists have chopped their forecasts for 2008 economic growth for a third straight month, saying the housing slump will be deeper and last longer than earlier expected, a survey released on Wednesday showed.
Chrysler LLC and the United Auto Workers union were negotiating a new labor agreement on Wednesday hours before a union-imposed strike deadline.
The United Auto Workers union and automaker Chrysler LLC remained locked in contract talks on Wednesday morning just hours before a strike deadline set by the union that could trigger the industry's second major work stoppage in as many weeks.
A senior U.S. official said China's policies could give domestic firms an unfair advantage and spell a retreat from open markets.
Yang Huiyan, a 26-year-old woman worth $16.2 billion, is the Chinese mainland's richest person, topping a list of tycoons whose wealth has soared amid a boom in stock and property prices, the business magazine Forbes said yesterday. She is also Asia's richest woman.
According to the British Retail Consortium (BRC), UK retail sales experienced 3% growth this September, a significant increase from the 1.8% growth recorded this August.
The India government and its communist allies stepped back from the brink on Tuesday, agreeing to meet again this month to resolve a row over a nuclear deal with the United States that threatens to spark a snap election.
