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AT&T drops $565M in eco-friendly cars

AT&T plans to purchase more than $500 million in vehicles running on alternative fuels over the next 10 years, with many of them coming from U.S. auto makers.

Oil drops 7 percent on weak demand

Oil fell more than 7 percent to $42 per barrel on Wednesday on further signs of weak global demand and rising inventories in top consumer the United States.

Credit card companies slash rewards to cushion losses

Not long ago, Americans were being offered as much as $100 just to sign up for a credit card. Now, up to $300 is being dangled as an incentive for them to give up their plastic. U.S. credit card issues are slashing rewards, raising interest rates and increasing fees as loan losses mount.

US and China diplomats work to iron out differences

The top U.S. and Chinese diplomats have their share of work cut out for them as they strive to reconcile differences between the two nations following the weekend naval confrontation.

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Ford-UAW deal cuts wages to $55 an hour

Ford Motor Co said on Wednesday that it expects operating savings of $500 million per year from an agreement with the United Auto Workers that will push hourly wage rates into the ballpark of foreign-based rivals.

Ford to cut wages in UAW deal

Oil drops 5 pct on weak demand, rising inventories

Oil fell 5 percent to below $44 on Wednesday on further signs of weak global demand and rising inventories in top consumer the United States.

Wall St hurt by oil shares

U.S. stocks faltered in choppy trade on Wednesday, dragged lower by energy shares including Exxon Mobil , as the price of oil fell on concerns about curbed demand.

CORRECTED: Geithner to tell G20 to spend more on crisis

U.S. Treasury Secretary Timothy Geithner said on Wednesday that Group of 20 nations need to boost spending for as long as necessary to counter a severe financial crisis.

Nasa's Space Shuttle Mission Briefing

Nasa's Space Shuttle Discovery (STS-119) will blast off today from the Kennedy Space Center in Florida at 9:20 p.m. PST on a 14-day mission to complete International Space Station.

Wall Street edges up on tech

U.S. stocks edged higher in bumpy trading on Wednesday as a rise in technology shares helped temper unease about whether the government would soon lay out a plan to restore confidence in the banking system.

Oil drops $1 on weak demand, rising inventories

Oil fell $1 to below $45 a barrel on Wednesday on further signs of weak global demand and rising inventories in top consumer the United States.

Ford sees $500 million annual savings in UAW deal

U.S. Tells AIG to Spend Less

The U.S. is telling American International Group Inc it needs to spend less. Under directions from the Treasury, the bailed-out insurance company has a new expense guide for employees, limits on executive pay, and a committee that will oversee the company.

Oil falls towards $45 as global demand dwindles

Oil fell toward $45 a barrel on Wednesday as further evidence of a large drop in global crude demand emerged.

Ford sees $500 million annual savings in UAW agreement

Ford Motor Co said on Wednesday that it expected operating savings of $500 million per year from an agreement with the United Auto Workers that will push hourly wage rates into the ballpark of foreign-based rivals.

U.N. to scrutinize Obama on counter-terrorism

U.N. human rights investigators on Tuesday announced a global investigation into secret detention and said they would not relax scrutiny of U.S. counter-terrorism policies under President Barack Obama.

Bank stabilization optimism lifts Wall St

U.S. stocks rose on Wednesday, with the benchmark S&P 500 index attempting its first two-day advance in a month, as investors bet Washington would restore confidence in banks by relieving them of money-losing assets.

North Korea accuses U.S. of plotting attack

North Korea's Foreign Ministry on Wednesday accused the United States of preparing for a war against the communist state in Pyongyang's first verbal criticism of the Obama Administration.

UBS ups 2008 net loss to $18 billion

UBS said earnings would remain at risk due to its exposure to illiquid and choppy markets, as it revised up its 2008 net loss, the biggest in Swiss corporate history, to include a large U.S. tax fine and extra writedowns.

China navy officers harangue U.S. over sea spat

Senior Chinese navy officers poured scorn on the United States in the wake of a weekend naval confrontation, with one saying the Americans are villains crying foul as fallout between the two giants simmered.

IMF chief says bank cleanup too slow

The world's advanced economies are moving too slowly in ridding banks of problem assets, which could jeopardize a global economic recovery in 2010, the head of the International Monetary Fund said on Wednesday.

Bernanke says AIG tightens grip on perks, pay

Gone are the days of luxury California hotel retreats for executives of bailed-out U.S. insurance giant American International Group.

EPA offers first carbon reporting plan

The U.S. Environmental Protection Agency on Tuesday proposed a comprehensive U.S. system for reporting emissions of carbon dioxide and other greenhouse gases, a step toward regulating pollutants that spur climate change.

Greenspan says Fed didn't cause the housing bubble

Former U.S. Federal Reserve Chairman Alan Greenspan said lower rates on long-term, fixed-rate mortgages and not the Federal Reserve's policies are to blame for the U.S. housing bubble.

BoE success may spur Fed buying of Treasuries: report

U.S. Federal Reserve officials were struck by the early apparent success the Bank of England's plans to buy government bonds and could further consider moving forward on a similar effort in the United States, the Wall Street Journal said on Wednesday.

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