OPEC sees oil demand falling
The Organization of the Petroleum Exporting Countries on Wednesday said its world demand in oil will continue to shrink in the current global economic recessions inline with its rising prices in oil demand and outputs cuts of 2.6 percent from the International Monetary Fund.
U.S. banking crisis may last until 2013: S&P
A day after saying big U.S. banks probably needed to raise only one-fourth the capital demanded by the government, Standard & Poor's said the nation's banking crisis has merely entered a new phase and might not end before 2013.
Craigslist to drop erotic services ads
Online classified site Craigslist will replace its erotic services ads with a new adult category following pressure by state authorities after the murder of a masseuse who advertised on the site.
Unions concerned about Verizon sale to Frontier
The pending sale of Verizon Communications landlines to Frontier Communications Corp. has raised serious concerns from their respective unions.
Better Place unveils tech to switch EVs batteries
A new battery switch technology for electric vehicles was demonstrated for the first time in Yokohoma, Japan Tuesday by the company Better Place. The technology consists in a station.
U.S. regulators to seek OTC derivatives clearing: sources
The Obama administration plans to regulate sophisticated financial instruments linked to last year's market turmoil by requiring standardized over-the-counter derivatives to be cleared through central clearinghouses, two congressional staff workers told Reuters on Wednesday.
Google street view photos draws tension in Greece and Japan
Google is running into legal problems with privacy advocates in both Greece and Japan over its Google Maps feature, Street View.
U.S. regulators propose OTC derivatives crackdown
The Obama administration moved on Wednesday to shed more light on the over-the-counter derivatives market, a once-booming shadow banking system that is now closely linked to the global credit crisis.
U.S. officials aim to force financial pay reforms
U.S. officials are looking at ways to force reforms in financial industry compensation practices to discourage excessive risk-taking, which is considered to have sown the seeds of the current credit crisis.
New radio fees for music closer as House panel approves
The House Judiciary Committee on Wednesday approved legislation to require radio station owners to pay new fees to the recording industry to play music on the air.
ADM sees U.S. ethanol blend rising by 2010
U.S. agricultural processor and ethanol producer Archer Daniels Midland Co said on Wednesday it expected the U.S. ethanol blend rate to rise to 12 percent by 2010, up from the current allowed maximum of 10 percent.
AIG's CEO, Trustees called to answer by Congress
American International Group Inc CEO Ed Liddy met some harsh criticism at a congressional hearing on Wednesday as lawmakers demanded answers on the taxpayer bailout of the giant insurer.
Wall Street falls as economic angst resurfaces
Stocks tumbled on Wednesday as a gloomy retail sales report revived recent anxiety about the economy's struggle and caused a broad sell-off that accelerated late in the session.
U.S. regulators to seek OTC derivatives clearing
The Obama administration plans to regulate most financial derivatives linked to last year's market turmoil, two congressional staff sources told Reuters on Wednesday.
Obama opposes detainee abuse photo release
In a reversal, President Barack Obama objected on Wednesday to the release of dozens of photographs showing the abuse of terrorism suspects, fearing the pictures could trigger a backlash against U.S. troops.
GM, Chrysler to cut up to 3,000 dealers: sources
General Motors Corp and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday, three people briefed on the still developing plans said.
G7 to recover later this year, but a long haul
The world's richest nations will put recession behind them later this year, but when growth returns it will be sluggish, according to Reuters polls that pose a challenge to the vigorous rally in world stock markets.
U.S. retail sales slip, hurting recovery hopes
Sales at U.S. retailers fell for a second straight month in April as cash-strapped consumers held back on purchases, government data showed on Wednesday, denting hopes the economy would soon emerge from recession.
Wall Street drops as economic angst resurfaces
Stocks tumbled on Wednesday as a gloomy retail sales report revived recent anxiety about the economy's struggle and caused a broad sell-off that accelerated late in the session.
Sony Unveils its Walkman Video MP3 X-Series full features
Today, Sony introduced its new X-Series Walkman's full features with a portable audio/video and Wi-Fi enabled.
Up to 3,000 Chrysler and GM dealers to be shed
General Motors Corp and Chrysler plan to shed as many as 3,000 U.S. dealers, Reuters reported.
Hate goes viral on social network sites: group
Militants and hate groups increasingly use social networking sites such as Facebook, MySpace and YouTube as propaganda tools to recruit new members, according to a report by the Simon Wiesenthal Center.
Socialism Coming Back To Haunt U.S.
America is more than a country; it is the ideal of liberty. In economic terms, liberty translates into the entrepreneurial spirit of hard work, risk taking and self-reliance.
EU hands down record antitrust fine to Intel
EU regulators on Wednesday slapped a record 1.06 billion euro ($1.45 billion) fine on Intel Corp for antitrust violations and ordered it to halt illegal efforts to squeeze out arch-foe AMD.
International watchdog urges energy efficient policies for gadgets
A global energy overseer urged governments around the world today to implement strong public policies to make electronic devices more energy efficient in order to avoid hefty amounts of energy consumption by 2022 and on.
The Death Of An Icon - GM
If one follows the price of GM stock, one may be confused by just what the perspectives for GM ar
Oil falls 1.4 percent as Wall Street drags
Oil prices dropped 1.4 percent on Wednesday as gloom on Wall Street outweighed the impact of a government report showing a surprise drop in U.S. crude and gasoline stockpiles.
U.S. Bancorp CEO: We could exit TARP in a few weeks
U.S. Bancorp Chief Executive Richard Davis said the bank expects in a few weeks to be eligible to repay a $6.6 billion taxpayer-funded infusion, becoming one of the first big lenders to exit the much-maligned Troubled Asset Relief Program.
Sri Lanka fighting intensifies, aid worker killed
Shelling killed a Red Cross worker inside Sri Lanka's war zone on Wednesday, the aid agency said, while troops and the Tamil Tigers battled in an intensifying fight to the finish of Asia's longest modern war.
No Steve Jobs at Apple’s WWDC this year
Apple on Wednesday said Steve Jobs would host its annual Worldwide Developers Conference (WWDC) but instead, the keynote will be hosted by senior vice president of Worldwide Product Marketing, Philip Schiller.
