Oil dipped below $69 a barrel on Wednesday, falling back after U.S. industry data showed gasoline reservoirs swelled unexpectedly, despite growing geopolitical troubles in some OPEC member countries.
U.S. travel over the Independence Day holiday weekend will drop 1.9 percent this year compared to 2008, a casualty of higher fuel prices and economic worries, travel and auto group AAA projected on Wednesday.
SouFun, China's top real estate website, is eyeing an initial public offering next year in Hong Kong or the United States if the global economy recovers, Chairman Vincent Mo said on Wednesday.
The Federal Reserve is expected to emphasize the U.S. economy's fragile state in a policy statement on Wednesday as it talks down expectations for a rate hike this year and holds fire on expanding asset purchases.
Wall Street was set for a higher open on Wednesday after data showed surprisingly strong May durable goods orders and ahead of a Federal Reserve policy meeting later in the day.
The Federal Reserve on Wednesday resumed a two-day meeting that was expected to end with a statement emphasizing the U.S. economy's fragile state, an effort to dissuade financial markets from expecting an increase in interest rates this year.
Iran's Supreme Leader Ayatollah Ali Khamenei declared on Wednesday that a disputed election result would stand, despite street protests that Iranian officials say Britain and the United States have incited.
The Australian Dollar opens higher on Wednesday at 0.7935 after a renewed bout of greenback weakness overnight as concerns swept offshore markets that the US Federal Reserve may hose down expectations of an interest rate increase this year in an attempt to lower borrowing costs.
Oil dropped to under $69 a barrel on Wednesday, falling back after U.S. industry data showed gasoline reservoirs swelled unexpectedly.
General Motors Corp will do the heavy lifting to help meet the ambitious goal set by President Barack Obama of having one million plug-in hybrid and electric vehicles on U.S. roads by 2015, a GM executive said on Tuesday.
IBM named one of its executives, a former Morgan Stanley banker, to be its new head of mergers and acquisitions on Tuesday after losing its chief dealmaker to rival Dell Inc, which is beefing up its acquisition efforts.
China on Wednesday rejected U.S. and European charges that its restrictions on raw materials exports violate international trade rules, saying that its policies were in keeping with WTO regulations.
Stock futures pointed to a slightly stronger start for Wall Street on Wednesday, ahead of the Federal Reserve's interest rate decision and accompanying statement.
A severe U.S. recession will bottom out this year, but any recovery will be weak due to anemic markets and shrunken consumer wealth, the Organization for Economic Cooperation and Development said on Wednesday.
Oil slid back below $69 a barrel on Wednesday, reversing a 2.6 percent gain the day before, after data showed a surge in U.S. gasoline stocks, signaling weaker-than-expected demand from the world's top energy user.
The outspoken head of a U.S. Congressional watchdog panel will strongly urge lawmakers on Wednesday to set up a new government agency to protect consumers from tricks and traps set by banks.
Asian stocks bounced up on Wednesday from a one-month low hit the previous day while the dollar drifted, with investors bracing for a Federal Reserve decision and any signs the central bank is worried about the jump in U.S. bond yields.
Democrats in the U.S. House of Representatives, urged on by President Barack Obama, announced progress on Tuesday toward quick passage of legislation to fight global warming by reducing industrial emissions of carbon dioxide.
North Korea's nuclear ambitions area serious concern for Beijing and should be addressed through further dialogue, a senior Chinese military officer said on Wednesday after talks with Pentagon officials.
The Pentagon will create a Cyber Command to oversee the U.S. military's efforts to protect its computer networks and operate in cyberspace, under an order signed by Defense Secretary Robert Gates on Tuesday.
A security crackdown appears to have quelled street rallies against Iran's disputed poll, but the leadership faced a new challenge on Wednesday from calls by reformist clerics for national mourning for dead protesters.
Asian stocks inched up on Wednesday from a one-month low hit the previous day while the dollar drifted, with investors bracing for a Federal Reserve decision and any signs the central bank is worried about the jump in U.S. bond yields.
