IBT Staff Reporter

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Wall Street in red for year on economic worry

Stocks tumbled 2 percent and turned negative for the year on Wednesday as softer Chinese factory data and a weaker outlook from the Federal Reserve increased worries about the recovery.

India steps up demands for BlackBerry access

Indian demands are giving a new headache to BlackBerry maker Research in Motion after New Delhi threatened a shutdown that could affect one million of the smartphone's 41 million users.

Treasury expands homeowner aid for jobless

Unemployed homeowners in 17 U.S. states and the District of Columbia will soon be eligible for government help to avert foreclosure under a $2 billion program announced on Wednesday.

Panel urges big thinking in flash crash response

U.S. securities regulators said on Wednesday they are moving forward with technical fixes to the still-unexplained May flash crash, but some market players say they want a more wholesale review of high-speed trading.

Wall St tumbles on renewed recovery worries

Stocks dropped more than 2 percent on Wednesday as worse-than-expected Chinese factory data and a weaker outlook from the Federal Reserve added to worries about the economic recovery.

Unemployment drives more home sellers to cut price

Owners cut prices on one-quarter of U.S. homes listed for sale in July, a fourth straight monthly rise, as job market fallout trumped record low mortgage rates, real estate website Trulia.com said on Wednesday.

Job openings flat at 2.9 million in June

U.S. job openings were flat in June while the number of new hires slipped, according to a government report on Wednesday that underscored the persistent weakness in the labor market.

Fixes large and small debated after flash crash

Securities regulators on Wednesday said they are moving forward with technical fixes in the wake of the still-unexplained May flash crash, but some market players say they want a more wholesale review of high-speed trading.

Macy's gains market share and sees better sales

Macy's Inc quarterly results on Wednesday showed that the department store retailer boosted sales and gained market share without relying as much on discounts as it rivals did to get shoppers into stores.

BoE forecasts leaves scope for further easing

The Bank of England left the door open on Wednesday for more monetary easing, cutting its forecast for UK economic growth and predicting that inflation would fall well below its 2 percent target in two years.

Stock futures signal sharp losses at open

Stocks indexes were set to fall more than 1 percent at the open on Wednesday after weaker manufacturing data from China and a gloomier growth outlook from the Federal Reserve underscored a lackluster global economic recovery.

Stock futures slump on Fed's gloomier outlook

Stock index futures dropped sharply on Wednesday as weaker manufacturing data in China and a gloomier economic outlook from the Federal Reserve led to mounting concerns about the health of the global economy.

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