Paula Abdul, the pop star who revived a lagging singing career as a warm-hearted judge on ?American Idol,? said that she has decided not to return to the show next season.

Defensive stocks were weak while riskier financials gained as investors continued to bet on an economic recovery.

City officials plan to open a shared space in East Harlem for aspiring chefs and bakers to rent.

The Postal Service?s largest vacant property, at 2.7 million square feet, will be auctioned after several proposals to rehabilitate the site for other uses foundered.

Mr. Schroth helped expand and deepen political coverage of Washington as the editor of Congressional Quarterly and a founding editor of National Journal.

Swiss Re reports a loss for the April to June period as bets in the corporate bond market went wrong.

Has the credit boom generation learnt from crisis?

House prices are rising, according to the latest survey from the Halifax mortgage lender.

Societe Generale reports a slump in profits as it was forced to write off bad debts and investments in risky assets.

Lloyds Banking Group makes a £4bn loss, blaming bad debts from loans made by HBOS, which it bought in January.

Sportswear giant Adidas reports a fall in profits as consumer spending fell during the economic downturn.

Allied Irish Bank group has reported a pre-tax loss of 872m euros for the first six months of its financial year.

Losses at finance group GMAC have risen by more than a half after bad debts increased at its mortgage business.

Reuters - Asian stocks steadied near 11-month highs on Wednesday, as investors paused for breath before more earnings reports, but rising dairy prices pushed the New Zealand dollar to a 10-month peak.

Reuters - The U.S. service sector is forecast to show contraction last month, but less than it shrank in June, according to a Reuters' poll of economists.

The lender may take a stake in Sal. Oppenheim, which has been hit hard by investments that went sour in the financial crisis.

Fuel hedging, not a rebound in passenger and cargo demand, was behind the gains at one of Asia's leading airlines.

Wall Street gains ? driven by reports showing a rise in consumer spending and pending home sales ? failed to translate into buying in Asia.

Swiss Reinsurance Co. reported Wednesday a surprising second-quarter net loss of 381 million francs ($359 million) as investment losses and impairments offset an improved business environment.

Sportswear company Adidas AG (OOTC:ADDYY) said Wednesday that its second-quarter net profit fell 93 percent as currency effects and tough competition weighed on earnings.

Societe Generale reports a slump in profits as it was forced to write off bad debts and investments in risky assets.

Yahoo will be able to quit its search deal with Microsoft if they fail to meet market share and revenue targets.

South Korean police commandos have stormed a car factory occupied by hundreds of workers laid off in a restructuring plan.

Reuters - Wall Street was expected to open lower on Wednesday, slipping back from a nine-month high, as investors awaited further pointers to a potential economic recovery, and more second-quarter earnings.

Reuters - Citigroup plans to sell 20 businesses in consumer finance area, many of them located in Europe, its CEO Vikram Pandit said in an interview with Singapore's Business Times.

AFP - British home prices rose by 1.1 percent in July from the level the previous month, but fell over 12 months, a survey from home-loans provider Halifax showed on Wednesday.

AFP - Retailers in the 16 nations using the euro saw their sales fall in June, continuing a downward trend broken only in April this year, according to official EU data released Wednesday.

Quarterly earnings at the consumer product maker fell as households around the globe kept tight reins on spending in the recession.

European stock markets rose modestly after a batch of solid corporate earnings, though trading remained light.

The White House will try to sell its economic policies this week, but Friday?s jobs report may get in the way.

The insurance broker said it lost $193 million in the second quarter because of an impairment charge tied to the value of its corporate security business.

US Secretary of State Hillary Clinton begins her African tour calling for democracy to boost trade opportunities.

Pre-tax profits at Danish brewer Carlsberg jumped to 3.025bn Danish kroner (£344m; $584m) in the second quarter.

The pound rises against the US dollar after several pieces of economic data are better than expected.

A loan shark who made £3m by charging clients 2,437% interest is jailed for five years at Manchester Crown Court.

Reuters - U.S. stock futures were little changed on Wednesday ahead of key reports on the labor market, factory orders and the vast services sector and after a disappointing outlook from Procter & Gamble Co.

Reuters - U.S. private employers shed 371,000 jobs in July, compared with a revised 463,000 drop in June, a report by a private employment service said on Wednesday.

Reuters - BEIJING (Reuters) -China will stick to its loose fiscal policy for at least three years despite a growing budget deficit, a government economist said in comments published on Wednesday.

Reuters - Procter & Gamble Co posted an 18 percent drop in quarterly profit, as sales fell across all of its businesses, but stood by its profit forecast as the pressure of foreign currency fluctuations eases.

Reuters - Demand for U.S. home loans rose last week as a decline in 30-year fixed mortgage rates to a three-week low boosted applications for refinancing, the Mortgage Bankers Association said on Wednesday.

Shares lost ground after a private-sector report on unemployment offered little encouragement ahead of Friday?s employment report from the Labor Department.

The White House will try to sell its economic policies this week, but Friday?s jobs report may get in the way.

Google announces a deal to buy video compression company On2 Technologies to improve video quality on the web.

The pound rises against the US dollar after several pieces of economic data are better than expected.

Reuters - Stocks opened flat on Wednesday as data showing higher-than-expected private-sector job losses in July sparked caution about the strength of the economic recovery.

Reuters - The number of U.S. jobs lost in the private sector fell in July but firms increased planned layoffs, data on Wednesday showed, suggesting the labor market remained troubled even as the pace of job losses slowed.

Reuters - The U.S. service sector contracted in July at a faster pace than in June, according to a report released on Wednesday.

Reuters - The Obama administration is resisting calls to get involved with ensuring that credit ratings are reliable and said on Wednesday this would force investors to rely even more on the ratings.

Shares lost ground after a private-sector report on unemployment offered little encouragement ahead of Friday?s employment report from the Labor Department.

Factory orders rose 0.4 percent in June, the fourth increase in five months, in the latest sign that the ailing manufacturing sector is recovering.

Merck and Schering-Plough said that they would pay $41.5 million to settle suits claiming they delayed study results on their cholesterol drug Vytorin because the data was unfavorable.

Police commandos stormed a car factory on Wednesday in what the authorities hoped would be a final push to evict workers who seized the plant more than two months ago.

The Postal Service?s largest vacant property will be auctioned after proposals to rehabilitate the site foundered.

Cost cuts and gains in market share helped results at the clothing maker, whose shares rose as much as 6.3 percent to a 10-month high.

Lloyds Banking Group makes a £4bn loss, blaming bad debts from loans made by HBOS, which the UK bank bought in January.

Consumer product giant Procter and Gamble (P&G) saw profit fall by 18% between April and June - blaming a continued fall in household spending.

Lufthansa is offering passengers compensation for rainy days on holiday

House prices are rising, so is the worst over?

Competition battles between tech giants don't matter

Reuters - U.S. stocks fell on Wednesday after data showed the economy's service sector contracted in July at a faster pace than June, heightening concerns about the strength of the recovery.

Reuters - The U.S. service sector contracted in July at a faster pace than in June, adding to worries that any economic recovery may still be a long way off, according to a report released on Wednesday.

Reuters - The U.S. government has queried Goldman Sachs Group Inc about its compensation practices and credit derivative instruments, the firm said on Wednesday.

Reuters - American Axle & Manufacturing Holdings Inc reported a bigger-than-expected quarterly loss on Wednesday due to steep production cuts by automakers and said it remained uncertain whether it could complete a debt restructuring outside of bankruptcy.

Reuters - Demand for U.S. home loans rose last week as a decline in 30-year fixed mortgage rates to a three-week low boosted applications for refinancing, the Mortgage Bankers Association said on Wednesday.

AP - Growing supplies of crude and more signs of weakness in major sectors like retail and transportation on Wednesday sent oil prices falling for the second straight day.

Even during a recession, plumbers, electricians and the like ? say they are still finding work, albeit not as much as in the good times.

The rally of the last couple of weeks seemed to stall after data on unemployment and service companies provided a mixed picture of the economy.

Goldman Sachs filed a report this morning with regulators that had some interesting details about the highly profitable quarter that the investment firm just had.

Gangs are stealing taxpayers' passwords and submitting claims for false tax returns to HM Revenue and Customs.

Reuters - U.S. stocks fell on Wednesday as weak data and some disappointing outlooks prompted investors to take profits after a four-day rally that pushed the market to nine-month highs.

Reuters - The United States and Switzerland are expected to reach a final settlement on Friday to end a tax row against giant UBS , but details of the deal won't be made public the same day, sources familiar with the situation said.

Reuters - James Lockhart, the regulator for Fannie Mae and Freddie Mac, will soon step down after more than three years as overseer for the mortgage finance companies, an administration official said.

AP - The head of the federal agency that regulates mortgage finance companies Fannie Mae and Freddie Mac is stepping down.

AP - Oil prices wavered near $72 a barrel Wednesday with crude supplies growing and more signs of weakness in major sectors like retail and transportation.

The federal government is likely to begin selling off its stake in General Motors sooner than its share of Chrysler, the head of President Obama?s auto industry task force said Tuesday.

The Obama administration announced $2.4 billion in grants to make batteries, mostly for electric vehicles.

The new model is not expected to be a big seller but will add some excitement to the automaker?s current conservative lineup.

Some analysts say the effort to spur new lending has worked, while others say more needs to be done to help the economy.

As the unemployment rate skirts double digits, criminals are preying on the anxiety of the jobless to relieve them of cash and their identities.

Barnes & Noble?s e-book store has a lot of promise, but is saddled with filler, missing some top books and has some awkward details.

A South African union says workers at the country's biggest electricity firm are prepared to strike over pay.

Reuters - U.S. stocks fell on Wednesday as weak data and some disappointing outlooks prompted investors to take profits after a four-day rally that pushed the market to nine-month highs.

Reuters - Cisco Systems Inc reported an 18 percent fall in fiscal fourth-quarter revenue as customers held back spending on network equipment, but the decline was mostly in line with Wall Street forecasts and its profit was better than expected.

AP - WHO'S ACCUSED OF WHAT? Loan servicers are middlemen who collect mortgage payments from homeowners and pass them to banks and other investors. An Associated Press investigation found thousands of lawsuits accusing servicers of charging illegal fees, foreclosing prematurely and otherwise preying on homeowners they're supposed to help.

AP - Billions of dollars the government is spending to help financially pressed homeowners avert foreclosure is passing through — and enriching — companies accused of preying on the people they're supposed to help, an Associated Press investigation has found.

AP - It's still early, but analysts' grades already are coming in: the back-to-school shopping season is off to a lousy start.

The world?s largest network technology company continued to suffer from the global recession, reporting Wednesday that its net income dropped sharply in its fourth quarter.

News Corp. said its fourth-quarter net loss hit $203 million following a write-down from MySpace, while operating profit was slightly worse than it predicted.

Even during a recession, plumbers, electricians and the like ? say they are still finding work, albeit not as much as in the good times.

Establishing and protecting intellectual property rights is not beyond the reach of small entrepreneurs ? in fact, it?s essential.

CHARLOTTE, N.C. (AP) -- Surging catastrophe losses weighed heavily on Allstate Corp.'s earnings Wednesday, but the insurer still turned a profit in the second quarter.

NEWARK, N.J. (AP) -- Insurance and investment company Prudential Financial Inc. has reported a 5 percent drop in profit for the second quarter, but adjusted results topped Wall Street expectations as the company benefited from improving financial markets.

PARIS (AP) -- Axa SA said its net profit fell 39 percent in the first half as the global financial crisis hammered earnings at both its life and savings and asset management businesses.

Armonk, N.Y. (AP) -- Bond insurer MBIA Inc. surprised Wall Street with a second-quarter profit, which it says was partly the result of new clients.

Cisco Systems, the world's largest manufacturer of computer networking equipment, sees quarterly profits fall 27%.

News Corp loses $203m (£119.4m) in the three months to the end of June, after writedowns in some of its businesses.

The Bank of England considers whether to extend its quantitative easing scheme - as it prepares to hold rates.

Reuters - U.S. stocks slipped on Wednesday after weak data on the services sector and private payrolls cooled recent optimism the recession was retreating, but the market finished off its lows as investors ventured into riskier financial shares.

Reuters - Cisco Systems Inc Chief Executive John Chambers said it was too soon to call a recovery and forecast another drop in quarterly revenue, sending its shares 3 percent lower.

Reuters - Rupert Murdoch's News Corp reported an 11 percent drop in quarterly revenue on falling advertising sales at its local TV stations and newspapers, but said it expects modest improvement in coming months.

Reuters - James Lockhart, the U.S. regulator who nationalized Fannie Mae and Freddie Mac, will soon resign after more than three years as overseer for the mortgage finance companies, an administration official said on Wednesday.

The federal government is likely to begin selling off its stake in General Motors sooner than its share of Chrysler, the head of President Obama?s auto industry task force said Tuesday.

The Obama administration announced $2.4 billion in grants to make batteries, mostly for electric vehicles.

The new model is not expected to be a high-volume seller but will add some excitement to the automaker?s current conservative lineup.

Some analysts say the effort to spur new lending has worked, while others say more needs to be done to help the economy.

Barnes & Noble?s e-book store has a lot of promise, but is saddled with filler, missing some top books and has some awkward details.

Foreign investors snap up African farmland

Debate over success of quantatitive easing

Surveyors believe there is little chance of a quick return to a housing boom despite a recent shift in the market.

Reuters - U.S. stocks slipped on Wednesday after weak data on the services sector and private payrolls cooled recent optimism the recession was retreating, but the market finished off its lows as investors ventured into riskier financial shares.

Reuters - Cisco Systems Inc Chief Executive John Chambers said business conditions were improving for the world's largest network equipment manufacturer but it was too soon to call a recovery, dragging its shares down 3 percent.

AP - A look at the loan servicers in Treasury's mortgage-modification program, the taxpayer money they could receive and the percentage of eligible loans they've offered to modify so far. The servicers will keep some of Treasury's money and will pass some of it on to investors and homeowners. (Modification figures are not available for some servicers because they joined the program too recently.)

Treasury Secretary Timothy F. Geithner says regulators should not let relatively small disagreements kill the chances of passing a bill.

The rising stature of statisticians, who can earn $125,000 at top companies in their first year after getting a doctorate, is a byproduct of the explosion of digital data.

Goldman Sachs executives are dismissive, even defiant, when critics argue that the bank is playing a heads-we-win, tails-you-lose game with American taxpayers.

The Obama administration announced $2.4 billion in grants to make batteries, mostly for electric vehicles.

James B. Lockhart III, the director of the federal agency that controls Fannie Mae and Freddie Mac, said he was stepping down at the end of the month.

Geomentum, a new service, hopes to determine, with a new precision, which ads work best on whom, and where.

The Federal Housing Administration cited ?irregular transactions that raised concerns of fraud? at Taylor, Bean & Whitaker Mortgage Corporation.

Some of the most beleaguered financial stocks out there suddenly soared on Wednesday. A.I.G. was up 63 percent.

Merck and Schering-Plough said that they would pay $41.5 million to settle suits claiming they delayed study results on their cholesterol drug Vytorin because the data was unfavorable.

Paula Abdul is leaving ?American Idol? after the popular competition?s producers offered her a smaller pay raise than she wanted.

Sam Sifton, who has been culture editor since 2005, will replace Frank Bruni in the high-profile job.

Reuters - The U.S. Securities and Exchange Commission plans to issue more subpoenas and give people more incentives to cooperate with investigations as it works to tighten oversight of financial markets.

Reuters - Wall Street banks and lawyers could collect nearly $1 billion in fees from the Federal Reserve Bank of New York and American International Group Inc to help manage and break apart the insurer, The Wall Street Journal said on Wednesday, citing its own analysis.

AFP - With booming retail sales, record lending and a soaring stock market, China accounted for nearly all of the world's growth last quarter, but experts warn not to expect a China-driven global recovery.

Democrats said Wednesday night leaders of both parties have reached a deal that could allow the Senate to approve an extension the ?cash for clunkers? program.

Goldman Sachs executives are dismissive, even defiant, when critics argue that the bank is playing a heads-we-win, tails-you-lose game with American taxpayers.

Gary Gensler, chairman of the Commodity Futures Trading Commission, says domination by a few big institutions is not a good thing.

Lenovo, the world?s fourth-largest personal computer maker, reported a $16 million quarterly loss Thursday amid weak global demand but said its market share grew.

Some of the most beleaguered financial stocks out there suddenly soared on Wednesday. A.I.G. was up 63 percent.

Widely used rapid checks for the H1N1 virus ? or any flu, for that matter ? fail more than 50 percent of the time.

An agreement to shield drug makers from bearing further costs in the health care overhaul exposed a risky game the Obama administration has played.

The Obama administration announced $2.4 billion in grants to make batteries, mostly for electric vehicles.

The interview program synonymous with PBS is getting a second home with rebroadcasts on Bloomberg Television.

The company, which also owns The Wall Street Journal and the Fox broadcast television network, lost $203 million in the quarter.

Police commandos stormed a car factory in what the authorities hoped would be a final push to evict workers who had seized the plant.

The Topps Company will become the exclusive trading card maker of Major League Baseball in a deal that appears to hurt Upper Deck, its primary competitor.

Regulators might pressure Wall Street on bonuses, having noticed that bailed-out banks are setting aside huge sums to award top executives.

Reuters - Stocks in Shanghai dropped 3 percent on Thursday, weighed by speculation China may take more steps to rein in liquidity, slashing the Australian dollar's gains, while copper slid from 10-month highs after disappointing U.S. services data.

Reuters - A U.S. federal judge has refused to approve Monday's settlement between the U.S. Securities and Exchange Commission and Bank of America Corp related to the acquisition of Merrill Lynch & Co.

AFP - The US government could split troubled state-backed mortgage firms Fannie Mae and Freddie Mac and place the firms' toxic assets in a federal corporation, The Washington Post reported.

Reuters - U.S. officials are considering a plan to isolate failing assets held by Fannie Mae and Freddie Mac , The Washington Post reported on Wednesday, while an administration official said such an idea was in the early stages of development.