IBT Staff Reporter

Wal-Mart , the world's top retailer, said on Wednesday it has launched a pilot program to open convenience stores in China, seeking to boost its presence in one of the world's fastest growing retail markets.

Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 0.2-0.4 percent at 0902 GMT, pointing to a lower start on Wall Street.

Sweden's Saab Automobile, owned by ailing U.S. auto maker General Motors , would welcome talks with Italy's Fiat about a takeover, Saab said on Wednesday.

World stocks steadied around the previous day's near four-month high on Wednesday while the yen jumped as concerns over the health of Bank of America offset the impact of strong results from BNP Paribas.

Home values in the United States extended their fall in the first quarter, with almost three in ten homeowners now owing more on their mortgages than their homes are worth, real estate website Zillow.com said on Wednesday.

U.S. supermarket chain Wal-Mart has entered China's convenience store market by opening three shops in the southern city of Shenzhen, a company official said on Wednesday.

Stocks slipped and the yen rose on Wednesday after news Bank of America needs $34 billion in extra capital startled investors who had grown more comfortable with risk ahead of official results of stress tests on U.S. banks due on Thursday.

Zillow issued a correction to its report, and following that this corrects headline and 1st paragraph to say more than one in five homeowners, not almost 3 in 10 homeowners. Corrects paragraph 4 to declining home values left 21.9 percent, not 28.9 percent

The United States recession could end in the second half of this year but will likely not give way to a robust rebound in growth, Janet Yellen, President of the Federal Reserve Bank of San Francisco, said.

Citigroup Inc may have to raise $5-$10 billion in new capital to meet a U.S. government requirement that it holds up to $55 billion in capital, the New York Times said, citing people familiar with the matter.

As the impact of the global recession weighs in on wealthy Americans, high-end retailer Barneys New York Inc aims to close two of its seven department stores, the Wall Street Journal said, citing people familiar with the matter.

The United States must tackle systemically important financial firms deemed too big to fail through tighter oversight and higher capital buffers, according to remarks by a top Federal Reserve official obtained by Reuters on Tuesday.

Jim Balsillie, the co-chief executive of Canadian smartphone maker Research in Motion, wants to import a hockey team up North.

Some production methods for corn ethanol may increase indirect greenhouse gas (GHG) emissions, according to an analysis unveiled Tuesday by the U.S. Environmental Protection Agency.

Stocks slid and the yen rose on Wednesday after news Bank of America needs $34 billion in fresh capital, sending shivers through investors ahead of official results of stress tests on U.S. banks due for release on Thursday.

The nation's top power industry regulator on Tuesday suggested that U.S. utilities don't need to build big nuclear or coal-fired power plants to fill the nation's future power supply needs.

Texas, the state with the largest number of wind turbines, should consider expanding its transmission ties to other states to take full advantage of its wind potential, the nation's top federal energy regulator said on Tuesday.

Lost financing, low prices for natural gas and political uncertainty have stymied a potential boom in the U.S. wind power industry this year.

Walt Disney Co is developing an Internet subscription service and may consider trimming studio output, executives said on Tuesday after the division posted a 97 percent decline in operating income.

U.S. officials could lay out as soon as Wednesday guidelines for how banks can repay taxpayer bailout funds, sources familiar with administration thinking said on Tuesday.

A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.

A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.

Energy power firms posted lower earnings on the first quarter of 2009 Tuesday, resenting from the global economic slowdown which has reduced power demand across the nation.

General Motors Corp on Tuesday detailed plans to all but wipe out the holdings of remaining shareholders by issuing up to 60 billion new shares in a bid to pay off debt to the U.S. government, bondholders and the United Auto Workers union.

The first face transplant patient today went before cameras today and thanked the doctors who performed her life changing surgery following a devastating shooting incident in 2004.

The Walt Disney Co posted a 26 percent earnings drop on Tuesday as the global downturn ate into ad sales and consumer spending, but company executives said the worst may be over for its key media networks and theme parks businesses.

Federal Reserve Chairman Ben Bernanke, seeking to soothe markets worried about the eagerly awaited government stress tests of 19 big banks, on Tuesday downplayed the possibility of new taxpayer bailouts.

The Obama administration stepped up pressure on Israel's new government on Tuesday to accept the goal of a Palestinian state and halt expansion of Jewish settlements on occupied land.

The father of the money market mutual fund -- investor Bruce Bent -- was charged with fraud by U.S. regulators on Tuesday over accusations he deceived investors into believing his flagship fund was safe before it broke the buck last year.