IBT Staff Reporter

Higher gasoline costs pushed up U.S. consumer prices in August while industrial output increased for a second consecutive month, according to data on Wednesday that reinforced hopes the economy was finally on the mend.

Oil eased to around $71 a barrel on Wednesday after a bigger-than-forecast rise in U.S. fuel stocks offset positive expectations for the world economy that spurred other markets higher.

UAL Corp, parent of United Airlines, said it expects to be in full compliance with its credit facility covenants in the third quarter and has liquidity initiatives on tap for the fourth quarter.

Democratic U.S. Senator Max Baucus unveils a long-awaited healthcare overhaul on Wednesday that would dramatically revamp insurance rules but does not include a government-run option backed by liberal Democrats.

Demand for U.S. home loans fell as fixed mortgage rates rose last week in a banking period shortened by the Labor Day holiday, the Mortgage Bankers Association said on Wednesday.

Somalia's al Shabaab insurgents called on Wednesday for more foreign militants to join them in the failed Horn of Africa state after U.S. forces killed one of the region's most wanted al Qaeda suspects.

Some of the world's largest commercial real estate service companies are turning to online auctions to sell property and debt to help kick-start the stalled U.S. commercial real estate market.

The United States and Israel ended another round of talks on Wednesday with no sign yet of a deal on a West Bank settlement freeze, but a U.S. envoy planned to meet again with Prime Minister Benjamin Netanyahu on Friday.

European Commission President Jose Manuel Barroso secured a second five-year term on Wednesday in a vote at the European Parliament.

An envoy to Chinese President Hu Jintao held talks with North Korean officials in Pyongyang on Wednesday, the Chinese Foreign Ministry reported, but it did not say if North Korea's controversial nuclear program was discussed.

As many as a third of votes cast for Afghan incumbent Hamid Karzai in last month's presidential election are suspect and must be checked for fraud, the head of a European Union election observer mission said on Wednesday.

The new Japanese government has pledged to protect and revitalize agriculture, a policy that may be incompatible with a global push to free up world trade.

Japan's incoming government has named a veteran politician with a reputation for opposing market-friendly policies to head up banking policy and financial supervision, in a surprise move that will likely concern some investors.

New Japanese Prime Minister Yukio Hatoyama took office Wednesday, launching an untested government pledged to radically change how the nation is run and make domestic demand, not exports, the engine of growth.

U.S. consumer prices rose in August from July on a spike in gasoline costs, the Labor Department said on Wednesday, but the underlying trend pointed to muted inflation pressures.

U.S. consumer prices rose in August from July on a spike in gasoline costs, the Labor Department said on Wednesday, but the underlying trend pointed to muted inflation pressures.

U.S. stock index futures rose on Wednesday on gains in commodity prices and renewed merger and acquisition activity.

U.S. stock index futures rose on Wednesday on gains in commodity prices and an upswing in merger and acquisition activity as investors awaited a batch of key economic data, including industrial production and consumer prices.

The Beatles boasted some of the best-selling albums on the U.S. pop chart on Wednesday after nostalgic fans scooped up the Fab Four's much-hyped reissues.

U.S. stock index futures rose on Wednesday on gains in commodity prices and an upswing in merger and acquisition activity as investors awaited a batch of key economic data, including consumer prices and industrial production.

Singer Whitney Houston said in an interview aired on Tuesday that she is drug-free as she embarks on a career comeback, and that her faith guides her through her ongoing fight to stay clean.

Oil eased below $71 a barrel on Wednesday after a higher-than-forecast rise in U.S. fuel stocks offset positive expectations for the world economy that spurred other markets higher.

Trade unions urged G20 leaders on Wednesday to respond decisively to the specter of 59 million job losses and slammed banks for awarding bonuses worth more than 20 percent of the taxpayer money spent bailing them out.

Chrysler Group LLC will present a five-year business plan by the end of November that will outline numbers and the path out of two years of difficulties, its chief executive said on Wednesday.

A majority of Americans believe Wall Street executive compensation is unreasonable, and that bankers fared better than others during the financial crisis, a poll conducted for Reuters shows.

Top U.S. movie rental chain Blockbuster Inc, which is facing tough competition from Netflix Inc and Coinstar Inc's Redbox, plans to close up to 960 stores by the end of next year.

The economic downturn will likely cost as many as 25 million people their jobs by end-2010 as the unemployment rate nears a record 10 percent in the OECD group of countries, according to a report released on Wednesday.

Geely Automotive , the Chinese carmaker whose parent is eyeing Ford's Volvo unit, is set to raise capital through a bond issue in a move that may provide funding for a Volvo bid.

Chrysler's new business plan will be presented by the end of November and will show numbers and the path out of years of difficulties, the company's chief executive said on Wednesday.