IBT Staff Reporter

U.S. health advisers said GlaxoSmithKline Plc's diabetes drug Avandia raised a heart attack concern compared with diabetes drugs in other classes and a rival drug in the same class.

Sales at U.S. retailers fell for a second straight month in June and businesses wary of ebbing demand barely raised inventories in May, more evidence the economic recovery has slowed in recent months.

Tech shares led the Nasdaq higher on Wednesday after Intel's strong results, but the Dow and S&P sharply trimmed gains on tepid retail sales figures and ahead of the release of the minutes from the Fed's most recent meeting.

Driving into the chic Place Vendome in central Paris, lined with up market jewelers and exclusive hotels, a small orange van looked out of place on Tuesday evening amid the sleek luxury cars.

Toyota Motor Corp said on Wednesday its investigation of nearly 2,000 cases of unintended acceleration had found no problem with its electronic throttle system, and that driver error was to blame in some cases.

Stocks advanced on Wednesday, lifted by Intel's strong results, but weaker-than-expected June retail sales limited gains.

Kim Snowball, the new health chief of Western Australia, defended his annual salary package of $541,000 to his New South Wales counterpart's $413,000

Former gaming executive launches DAS Capital Global Distressed Assets and Special Situations Fund

The shares of chip and PC makers jumped on Wednesday on strong results from global technology bellwether Intel Corp , pointing to potential upside for the sectors in quarterly reports due in coming weeks.

Efforts to clinch a deal on the way banks, insurers and markets in the European Union are supervised failed on Wednesday and talks will resume in late August or early September, EU sources said.

Indonesia, the world's most populous Muslim country, is planning use a controversial anti-pornography law to restrict porn websites in the next few months, a communications ministry spokesman said on Wednesday.

Demand for loans to purchase U.S. homes sunk to a 13-year low last week, and refinancing demand also slid despite near record-low mortgage rates, the Mortgage Bankers Association said on Wednesday.

Sellers cut prices on nearly one quarter of U.S. homes listed in June, an increase from May, showing buyers still call the shots in the U.S. housing market, real estate website Trulia.com said on Wednesday.

Deborah Coleman lost her unemployment benefits in April, and now fears for millions of others if the Senate does not extend aid for the jobless.

No matter their income level, a significant number of U.S. workers are likely to struggle to meet basic expenses during retirement, a new study of baby boomers and generation Xers released on Tuesday shows.

Recent evidence the economic recovery may be slowing has prompted analysts to scale back their expectations for the pace of growth into next year, a Reuters poll showed.

U.S. advisers neared a vote on whether a GlaxoSmithKline Plc diabetes drug carries too much heart risk to stay on the market, hearing final conflicting pleas Wednesday from a patient and a public health advocate.

The Dow and S&P 500 indexes fell on Wednesday after data showed a second straight month of declining U.S. retail sales, though results from technology bellwether Intel Corp helped limit losses on the Nasdaq.

EBay Inc was sued for at least $3.8 billion on Tuesday by a Connecticut company that accused the online auctioneer and retailer of infringing six patents to develop lucrative payment systems such as PayPal.

Dow and S&P 500 index futures pointed to a lower open on Wednesday after a report showed a second straight month of declining U.S. retail sales, though better-than-expected results from technology bellwether Intel Corp limited losses in the Nasdaq.

The fate of a GlaxoSmithKline Plc diabetes drug may become clearer on Wednesday when U.S. advisers vote on whether the widely used pill carries too much heart risk to stay on the market.

Dow and the S&P 500 index futures turned negative on Wednesday after data showed sales at U.S. retailers fell for a second straight month in June.

Kansas City Federal Reserve President Thomas Hoenig on Wednesday said that the U.S. economy will continue to recover, but it will take time to reach the Fed's targets for minimal unemployment and inflation.

Sales at retailers fell for a second month in June, pulled down by weak receipts at automotive dealers and gasoline stations, according to a government report on Wednesday that added to evidence the economic recovery was proceeding at a moderate pace.

U.S. cable provider Comcast won EU regulatory clearance on Wednesday for a landmark deal to buy a controlling stake in General Electric's NBC Universal.

The fate of a GlaxoSmithKline Plc diabetes drug may become clearer on Wednesday when U.S. advisers vote on whether the widely used pill carries too much heart risk to stay on the market.

Stock index futures rose on Wednesday on the heels of better-than-expected earnings from technology bellwether Intel Corp , setting the stage for a seventh straight day of gains.

Chinese social networking websites that provide Twitter-like services have suddenly reverted to testing mode and access has been spotty amid reports of a government clampdown.

World's top rice producer, China reduced the 2010 rice output forecast to 196.6 million metric tons from an estimate of 197.3 million tons made a month ago. According to China National Grain & Oils Information Center production forecasts for other crops were maintained at 168 million tons of corn, 115.1 million tons of wheat, 14.5 million tons of soybeans and 12.6 million tons of rapeseed.