Reuters
NEW YORK (Reuters) – Stocks dropped on Wednesday after the Federal Reserve cut its forecasts for U.S. economic growth this year and next, without hinting at further plans for stimulus. Full Story »
BOSTON/NEW YORK (Reuters) - John Paulson's roll of the dice on a lender that rose from the wreckage of the financial crisis is emerging as one of the few big winners for the hedge fund manager in what is shaping up as a downbeat year. Full Story »
NEW YORK (Reuters) - FedEx Corp's fourth-quarter earnings and outlook beat forecasts as higher shipping rates and tight cost controls more than offset a slowing economic recovery and high fuel prices. Full Story »
AFP HONG KONG (AFP) - Asian stock markets jumped on Wednesday after Greece's embattled prime minister won a confidence vote, taking him one step closer to pushing through austerity measures and avoiding a default. Full Story »
AP WASHINGTON - Federal Reserve Chairman Ben Bernanke warned Wednesday that some of the problems that are slowing the U.S. economy could persist into next year. Full Story »
STOCKHOLM - Swedish fashion retailer Hennes & Mauritz AB on Wednesday blamed higher procurement costs as well as campaigns and special offers for an 18 percent drop in second-quarter profits. Full Story »
BRUSSELS/ATHENS (Reuters) - European leaders will try to convince Greeks and financial markets when they meet on Thursday and Friday that they have a workable plan to help Athens avoid a debt default and return to financial stability. Full Story »
WASHINGTON - Investment firm Morgan Keegan & Co. is paying $200 million to settle civil fraud charges that it overstated the value of mortgage investments just as the housing market was collapsing in 2007 and lured buyers of its funds with false sales materials. Full Story »
AFP ATHENS (AFP) - The Greek cabinet approved Wednesday a 2012-2015 austerity budget plan as well as laws for its implementation, a key condition for further EU-IMF help to tame a massive public debt, government sources said. Full Story »
Seems like everyone has their heads in the clouds these days. With a growing emphasis on synchronizing media purchases and applications on multiple mobile devices and computers, retailer Best Buy is launching Music Cloud. Full Story »
CHARLOTTE, N.C./NEW YORK (Reuters) - Regions Financial Corp agreed to pay $210 million to settle allegations that its Morgan Keegan brokerage fraudulently marketed mutual funds and said it hired Goldman Sachs Group Inc to explore strategic options for that unit. Full Story »
Reuters Oil prices settled higher Wednesday after the Federal Reserve said that U.S. economic growth has slowed but should pick up again soon. But they retreated in after-market trading as Fed Chairman Ben Bernanke said some of the economy's more serious problems could last into next year. Full Story »
AFP/File BEIJING (AFP) - Outspoken Chinese artist Ai Weiwei was released on bail in Beijing Wednesday nearly three months after he was detained during the government's biggest crackdown on activists in years. Full Story »
Reuters DETROIT (Reuters) - Unions representing workers at Chrysler Group LLC and its Italian partner, Fiat SpA , are forming a "global network" to share information and best practices, United Auto Workers President Bob King said. Full Story »
The dissident Chinese artist Ai Weiwei, whose detention in April ignited an international uproar, was released on bail Wednesday under conditions likely to keep the outspoken critic of Communist Party controls silent for now. Full Story »
The Harvard University classmates of Facebook founder Mark Zuckerberg are ending the legal battle made famous by the Hollywood movie "The Social Network." Full Story »
Some of the earliest Americans turn out to have been artists. Full Story »
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