UNITED STATES

U.S. stocks suffered their biggest one-day decline in nearly three weeks on Tuesday after a sharp drop in consumer confidence heightened worries over one of the most vulnerable areas of the economy.

The Australian Dollar opens sharply lower on Wednesday just under US89 cents after weaker than expected U.S. consumer confidence data released overnight took the wind out of the sails of higher yielding currencies and riskier assets.

U.S. stocks suffered their biggest one-day decline in nearly three weeks on Tuesday after a sharp drop in consumer confidence heightened worries over one of the most vulnerable areas of the economy.

The U.S. stock market tracked losses of worldwide assets as Europe and the U.S. reported gloomy data on Tuesday.

Google's assertion that its computers were attacked by hackers based in China was groundless, Beijing said on Tuesday, hardening its rhetoric in a spat with Washington over Internet freedom.

Presidents and high-ranking representatives of 32 Latin American and Caribbean countries agreed to create a new organization without the United States and Canada on Tuesday.

Toyota Motor Corp apologized for letting safety standards slip during a period of fast growth and vowed to respond more quickly to consumer complaints as two days of congressional hearings crucial to the automaker's reputation began on Tuesday.

AutoNation Inc Chief Executive Mike Jackson said that Toyota Motor Corp's U.S. sales will recover by April, but only if the automaker offers customer incentives.

China moved to tighten its grip on the flow of Internet information this Tuesday, saying individuals who want to operate Websites must first receive approval from regulators.

Toyota Motor Corp promised a quality shake-up and apologized for safety mistakes that it blamed on rapid growth.

Consumers Union issued a call on Tuesday for urgent changes to strengthen U.S. auto safety regulation in the wake of a massive recall by Toyota Motor Corp.

A worse-than-expected drop in consumer confidence pushed U.S. stocks lower on Tuesday as investors worried over what remains one of the weakest areas of the economy.

Consumer confidence sagged to a 10-month low this month on worries about jobs and fears gridlock in Washington could hinder efforts to restart employment, curbing the economic recovery.

Target Corp posted a quarterly profit slightly above Wall Street expectations, helped by better-than-expected holiday sales, improved margins and a lower tax rate.

Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was extremely unbalanced, driven largely by high earners benefiting from recovering stock markets and large corporations.

A drop in consumer confidence to a 10-month low drove U.S. stocks down on Tuesday as investors reassessed the strength of the economic recovery.

The U.S. stock market is trading down Tuesday, weighed by declines in the U.S. consumer confidence index and German business climate index.

Top executives at Toyota Motor Corp promised a quality shake-up on Tuesday as the Obama administration said it would hold the carmaker's chief to a pledge to address safety issues after massive recalls.

The Federal Communications Commission announced plans to launch its National Broadband Plan next month, which will provide high-speed Internet connections to over 93 million Americans who currently don't use Internet.

The House Oversight Committee has released the opening statement for the committee's Wednesday's hearing that features Toyota President and CEO Ako Toyoda. The follow is the full text:

The number of problem U.S. banks jumped 27 percent during the fourth quarter of 2009 to 702, the highest level since 1993 and a sign the industry's recovery is still shaky, regulators reported on Tuesday.