UNITED STATES

The Federal Reserve Board is weighing whether it should ban some mortgage lending practices that fueled the recent housing market boom, Fed governor Randall Kroszner told a panel of lawmakers Wednesday.

Amid a weak U.S. mortgage market, Lehman Brothers said Tuesday its second quarter profit rose by 27 percent to beat analyst forecasts.

Oil prices slipped below $69 a barrel on Wednesday, supported by perceptions that supply and demand for oil is still finely balanced but pressured by expectations of a rise in U.S. gasoline supplies.

'Say-on-pay' proposals to give share owners a greater voice in setting executive pay have been the hottest issue on company proxy ballots this year, but investors have sent mixed signals on whether they like the idea.

US Airways Group may reach a decision this month on whether to proceed with an order for 20 Airbus wide-body planes or switch to Boeing Co. aircraft, the carrier's chief financial officer said on Wednesday

U.S. economic activity expanded from mid-April through May, with a number of areas reporting stronger growth, the Federal Reserve said on Wednesday.

The U.S. energy industry has sharply reduced its production of heating oil in favor of cleaner, higher-profit fuels like diesel -- a move that could see the nation relying more heavily on imports next winter heating season, analysts said Wednesday.

China is seeking to unseat the United States as the dominant power in cyberspace, a U.S. Air Force general leading a new push in this area said Wednesday.

Government bond prices rebounded on Wednesday on short-covering, but benchmark yields stayed near five-year highs as strong economic data raised the prospect that the Federal Reserve may increase interest rates.

Retail sales in May rose at the strongest pace since January 2006, while import prices surged, adding to recent data suggesting the U.S. economy is recovering strongly from a first-quarter slowdown.

UAL Corp., parent of United Airlines, would like to find a merger partner with a Southern tier hub and a strong presence in the Northeast, the carrier's chief financial officer said on Wednesday.

Government bond prices rose on Wednesday on shortcovering, reversing brief losses tied to surprisingly strong data that fanned worries the Federal Reserve may raise interest rates to curb inflation.

Freddie Mac, the second-largest U.S. home funding company, on Wednesday launched $3.0 billion in new five-year reference notes due Aug. 20, 2012, with pricing expected on Thursday, said joint lead manager JP Morgan.

The dollar surged on Wednesday as strong data and expectations of rising global interest rates pushed U.S. Treasury yields to five-year peaks, while stocks were volatile as growth prospects balanced the rise in yields.

The dollar briefly rose on Wednesday after a report showed May U.S. retail sales growth was the largest since January 2006, but pared gains after U.S. Treasury yields slipped.

Gov't to 'appropriately tighten' monetary policy to keep inflation in check.

London is the world's top center of commerce, according to a study by MasterCard rating leading cities by how they influence the global economy.

Semiconductor firm Broadcom Corp. (NASDAQ: BRCM) announced on Tuesday an agreement to buy privately-held chip and software maker Global Locate Inc. for about $146 million in cash.

U.S. stock futures rose on Wednesday as bond yields retreated ahead of fresh economic data seen likely to shed light on the outlook for interest rates.

Oil and industrial metals prices extended the week's sharp falls on Wednesday on fears that rising interest rates will dent demand from investors and consumers.

Expectations of higher global interest rates pushed U.S. government bond yields to five-year highs on Wednesday, lifting the dollar to a 4-1/2 year peak against the yen but weighing on stocks.