UNITED STATES

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U.S. regulators to seek OTC derivatives clearing: sources

The Obama administration plans to regulate sophisticated financial instruments linked to last year's market turmoil by requiring standardized over-the-counter derivatives to be cleared through central clearinghouses, two congressional staff workers told Reuters on Wednesday.

U.S. officials aim to force financial pay reforms

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U.S. officials are looking at ways to force reforms in financial industry compensation practices to discourage excessive risk-taking, which is considered to have sown the seeds of the current credit crisis.

ADM sees U.S. ethanol blend rising by 2010

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U.S. agricultural processor and ethanol producer Archer Daniels Midland Co said on Wednesday it expected the U.S. ethanol blend rate to rise to 12 percent by 2010, up from the current allowed maximum of 10 percent.
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Socialism Coming Back To Haunt U.S.

America is more than a country; it is the ideal of liberty. In economic terms, liberty translates into the entrepreneurial spirit of hard work, risk taking and self-reliance.
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EU hands down record antitrust fine to Intel

EU regulators on Wednesday slapped a record 1.06 billion euro ($1.45 billion) fine on Intel Corp for antitrust violations and ordered it to halt illegal efforts to squeeze out arch-foe AMD.
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Honda to lift Japan output to meet extra demand

Honda Motor Co (7267.T) is taking steps to raise output in Japan in preparation for a likely uptick in demand if a bill to offer consumers cash to replace old cars becomes law, its chief financial officer said on Wednesday.
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Wall Street falls after weak retail data

Stocks tumbled on Wednesday as worse-than-expected retail sales hurt shares in the sector, including Wal-Mart Stores Inc, and dampened recent enthusiasm over the economic outlook.
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U.S. likely to feel pressure to move on Intel

Now that European, South Korean and Japanese authorities have moved against chip giant Intel Corp for breaking antitrust laws, the question is: Are U.S. officials feeling pressure to take action, too?
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Congress under pressure as GM bankruptcy possible

With General Motors Corp planning to end production of Saturns and Pontiacs at its Delaware plant which employs more than 1,000 people, state leaders are scrambling to win new work at the facility or persuade the company to move other operations to the region.
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U.S. mortgage applications fall as refinancing drops

U.S. mortgage application demand slid to the lowest level since mid-March, driven by a drop in requests to refinance loans even as borrowing costs dipped toward record lows last week, the Mortgage Bankers Association said on Wednesday.
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Craiglist to drop erotic services ads

Online classified site Craigslist will replace its erotic services ads with a new adult category to bar flagrant prostitution and porn, the Connecticut attorney general's office said on Wednesday.
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U.S. urges emerging powers to open markets

Big emerging countries like China, India, Brazil and South Africa must do more to open their markets to secure a new global trade deal, the U.S. trade chief said on Wednesday.
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Frontier to buy Verizon phone access lines

Frontier Communications Inc has agreed to buy 4.8 million access lines from Verizon Communications Inc for $5.25 billion in stock, in a deal that triples its size and makes it the largest U.S. communications provider serving rural areas.
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India ruling Congress seen ahead as voting ends

The ruling Congress-led coalition was slightly ahead of the opposition Hindu-nationalist alliance in India's general election, but both groups fell short of a parliamentary majority, early projections said on Wednesday.
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Geithner says financial system starting to heal

The U.S. financial system has completed a big part of the painful adjustment away from its excessively leveraged state, and lending is starting to improve, U.S. Treasury Secretary Timothy Geithner said on Wednesday.
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Now 3,009 cases of new flu in U.S., CDC says

The United States now has 3,009 confirmed cases of the new H1N1 influenza across 45 states and Washington, D.C., the Centers for Disease Control and Prevention reported on Tuesday.
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Pope presses call for Palestinian state

Pope Benedict witnessed the watchtowers and high walls that seal Bethlehem off from Jerusalem on Wednesday as he entered the Israeli-occupied West Bank and pressed his call for a Palestinian state.

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