UNITED STATES

U.S. private companies hemorrhaged nearly 700,000 jobs in February and the service sector slump deepened as the year-old recession showed little sign of abating, according to data released on Wednesday.

Presidential polls in Afghanistan cannot be held next month as demanded by President Hamid Karzai and August 20 must remain the polling day as originally scheduled, the election commission said.

Zimbabwean Prime Minister Morgan Tsvangirai on Wednesday made his first call for an end to international sanctions, part of his bid to start rebuilding the shattered economy.

A North Korean missile launch may not come for some time although the communist state has been preparing its longest-range rocket for a test flight, South Korea's unification minister said on Wednesday.

The International Criminal Court issued an arrest warrant for Sudanese president Omar Hassan al-Bashir on Wednesday for war crimes and crimes against humanity in Darfur.

Stocks rose at the open on Wednesday after a sell-off the previous session left indexes at 12-year lows, with a jump in the price of oil and other commodities spurring energy and natural resource stocks.

Stocks headed for a sharp rebound at the open on Wednesday after a sell-off the previous session left indexes at 12-year lows, with a jump in the price of oil and other commodities spurring energy and natural resource stocks.

An aggressive effort to win market share by slashing prices took a toll on Costco Wholesale Corp as the No. 1 U.S. warehouse club posted lower quarterly profit the same day smaller rival BJ's Wholesale Club Inc reported better-than-expected results.

U.S. private sector job losses accelerated in February, according to a report by ADP Employer Services on Wednesday that came in worse than economists' expectations.

U.S. index stock futures pointed to a higher wall street open on Wednesday as a jump in the price of oil and other commodities spurred a rebound in energy and natural resource stocks.

Applications for loans to buy U.S. homes and to refinance existing mortgages fell for the second straight week, the Mortgage Bankers Association said on Wednesday, as consumers awaited for specific details on President Barack Obama's housing stimulus plan.

One in five U.S. homeowners with mortgages owe more to their lenders than their homes are worth, and the rate will increase as housing prices drop in states that have so far avoided the worst of the crisis, a new study shows.

U.S. retailers Costco Wholesale Corp and Big Lots reported lower quarterly profit on Wednesday as cautious shoppers avoided splurging on discretionary items, like furniture or jewelry, and stuck to buying basics, like food.

U.S. crude oil futures jumped more than $1 toward $43 per barrel on Wednesday, supported by better economic news from China and expectations by some traders that OPEC oil producers may further cut output.

Costco Wholesale Corp said on Wednesday its second-quarter profit fell 27 percent, as the No.1 U.S. warehouse club operator cut prices to win market share during the year-end holiday season.

HONG KONG - Asian stocks rallied on Wednesday on hopes Beijing will step up efforts to support the Chinese economy, helping the entire region, while the U.S. dollar rose to a three-year high as investors scrambled to limit risk.

Oil edged up toward $42 on Wednesday, after surging nearly 4 percent overnight, on a brightening outlook for China's economy and in anticipation that producer group OPEC would cut supply further at its next meeting.

U.S. electronics retailer Best Buy and joint venture partner Carphone Warehouse have postponed the launch of their first UK store until the first quarter of 2010, the Financial Times reported.

Asian stocks rallied on Wednesday on hopes Beijing will step up efforts to support the Chinese economy, helping the entire region, while the U.S. dollar rose to a three-year high as investors scrambled to limit risk.

The sanctity of the secret Swiss bank account -- an icon of global finance -- is under growing pressure in a tax investigation due to come into public view on Wednesday at a U.S. congressional hearing.

Global coordinated action to combat the worldwide financial crisis was not going to happen overnight but would proceed in fits and starts that would eventually result in a more prosperous economy President Barack Obama said on Tuesday ahead of a summit of leaders from the top 20 industrialized nations gathering in London in April.