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Obama star power faces new test at U.N meeting

U.S. President Barack Obama makes his United Nations debut on Wednesday, hoping his international star power can throw new muscle behind a policy agenda that is already struggling to deliver.

Oil falls towards $71 after bearish API oil stocks data

Oil fell toward $71 a barrel on Wednesday, giving up some of its previous session gains of 2 percent, as an industry report showing a surprise build in U.S. crude oil stockpiles again stoked concerns over demand revival.

Futures Market Summary - 22 Sept

US TREASURIES rebounded slightly on Tuesday after strong demand from the US 2 year note auction offered support to the government securities complex. Overall trading was quiet ahead of Wednesday's FOMC meeting announcement and $40 billion US 5 year note auction. Traders are expected to be watching auctions further out on the yield curve with greater scrutiny.

U.S. health insurers say they face gov't gag

Health insurers accused the U.S. Medicare agency on Tuesday of political interference in a battle over whether the industry can lobby its customers directly over healthcare legislation.

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BofA to provide more documents in Congress probe

Bank of America has agreed to turn over more documents to a congressional probe of its purchase of troubled investment bank Merrill Lynch, although some company material remains under wraps for now, a senior lawmaker said on Tuesday.

China and U.S. try to jumpstart stalled climate talks

World leaders tried to inject momentum into climate change talks on Tuesday but new proposals by China and a rallying cry from U.S. President Barack Obama did little to break a United Nations deadlock.

Blackstone wins dismissal of lawsuit over IPO

Blackstone Group LP won dismissal on Tuesday of an investor class-action lawsuit accusing the private equity firm of failing to disclose prior to its 2007 initial public offering that some of its holdings were losing value.

Al Qaeda releases new 9/11 video showing Zawahri

Al Qaeda's number two Ayman al-Zawahri appeared on Tuesday in an apparent new video marking the September 11, 2001 attacks against the United States, according to the SITE Institute, a U.S.-based terrorism monitoring service.

PG&E quitting U.S. Chamber over climate change views

California utility company PG&E Corp said it is quitting the U.S. Chamber of Commerce in protest over the business lobby group's extreme position on climate change.

U.S. awards $528.7 million loan to Fisker Automotive

Fisker Automotive was awarded a $528.7 million U.S. government loan on Tuesday for development of gas-electric hybrid plug-ins.

Honduran forces clash with protesters at embassy

Honduran security forces clashed on Tuesday with thousands of supporters of ousted President Manuel Zelaya outside Brazil's embassy, where he took refuge after slipping back into the country aiming to retake power.

'Stop grabbing my ass' Obama claimed: book

During his presidential campaign Barack Obama experienced women pushing their bodies against his, slip phone numbers into his pockets and whisper suggestions in his ear, a new book today claims.

Obama issues stern challenge on Mideast peace

An impatient U.S. President Barack Obama scolded Israeli and Palestinian leaders on Tuesday for not doing more to unblock the peace process and urged them to relaunch negotiations soon.

SEC warns swaps may evade White House reform

The U.S. securities regulator warned Congress on Tuesday that parts of the $450 trillion private swaps market could still fall through regulatory cracks under the Obama administration's financial reform plan.

Recovery bets lift Wall Street

Stocks rose on Tuesday, as investors bet the U.S. Federal Reserve will stick to its accommodative policy to foster economic recovery, boosting growth-sensitive sectors such as financials, technology and industrials.

Fed starts meeting, seen noting improving economy

The Federal Reserve opened a two-day meeting on Tuesday that was expected to end with a recognition the U.S. economy is on the mend, but no hint of an imminent monetary policy shift.

Daily Wrap Up - Sept. 22 Tech

Twitter has no plans to put advertisements on the popular microblogging site this year, co-founder Biz Stone said on Tuesday, amid a growing push for the 2-year-old Internet sensation to begin making money

WellPoint weighs more job cuts amid recession

Health insurer WellPoint Inc is weighing more job cuts as it grapples with enrollment declines stemming from the weak U.S. economy, and looks to operate more efficiently next year.

Anna Nicole Smith was prescribed with suicidal dose

Former model Anna Nicole Smith was prescribed with pharmaceutical suicide by psychiatrists, a pharmacist said according to court documents obtained, the L.A. Times reported Tuesday.

Wall Street jumps on recovery bets

Stocks rose on Tuesday, as investors bet the Federal Reserve will stick to its accommodative policy to foster economic recovery, boosting growth-sensitive sectors such as financials, technology and industrials.

Boeing 787 delays cast hard light on outsourcing

Commercial airline customers are accustomed to flight delays -- but two years?

Canada's Harper: Growth cannot hinge solely on U.S. consumer

Global growth can no longer hinge solely on the U.S. consumer and a global economic recovery remains fragile, Canadian Prime Minister Stephen Harper told CNBC television on Tuesday.

Silicon Valley reinvents the lowly brick

Forget microchips.Silicon Valley sees a profitable future in the humble brick thanks to a low-energy production process that illustrates the greening of the U.S. technology capital.

Lowe's gives cautious 2010 forecast; shares fall

No. 2 U.S. home improvement chain Lowe's Cos Inc forecast earnings for its next fiscal year that could fall short of Wall Street expectations, sending its shares down 4.2 percent.

Yahoo to kick off new branding campaign

Yahoo Inc said it would kick off a $100 million branding campaign next week as the No. 2 U.S. Web company seeks to revive growth and redefine itself under Chief Executive Carol Bartz.

Oil jumps more than 2 percent on dollar, Saudi

Oil prices jumped more than 2 percent to top $71 a barrel on Tuesday as the U.S. dollar fell to a one-year low against the euro and top exporter Saudi Arabia said the economy was rebounding.

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