Reuters - The Federal Reserve will start moving away from its zero interest rate policy later this year as the U.S. economy improves modestly and job growth resumes, the UCLA Anderson Forecast unit said on Wednesday.

AP - A closely watched survey shows German business confidence improved in March after falling in February because of harsh winter weather.

Reuters - California's economy faces yet more hardship this year marked by high unemployment as its labor market struggles to recover from steep job losses, the UCLA Anderson forecast unit said on Wednesday.

Reuters - U.S. mortgage applications fell for a second straight week, with demand for home loan refinancing sinking to its lowest level in a month as interest rates jumped, data from an industry group showed on Wednesday.

Reuters - Sales of newly built U.S. single-family homes fell for a fourth straight month to a record low in February, a government report showed on Wednesday, heightening fears of renewed weakness in the housing market.

Reuters - New orders for durable goods rose for the third straight month in February as businesses rebuilt inventories by the largest margin in more than a year, pointing to continued strength in manufacturing.

Reuters - Sales of newly built homes fell for a fourth straight month to a record low in February, but another rise in new orders for durable goods offered hope that the economic recovery remained on course.

Reuters - Thomas Hoenig, president of the Kansas City Federal Reserve Bank, said on Wednesday U.S. financial reform should include some form of the 'Volcker rule,' which would limit large financial firms' ability to engage in speculative trading.

AP - Mercedes-Benz has found a silver lining to the economic recession: It's helping boost sales of its smallest sport utility vehicle in the United States.

Reuters - U.S. financial reform should include some form of the 'Volcker rule,' which would limit large financial firms' ability to engage in speculative trading, Thomas Hoenig, president of the Kansas City Federal Reserve Bank said on Wednesday.

AP - The CEO of PepsiCo Inc. received a 5 percent pay cut last year as the snack food and soft drink maker struggled in the recession to sell its sodas to increasingly health-conscious shoppers, according to an Associated Press calculation of figures disclosed in a regulatory filing Tuesday.

AP - Top diplomats from the United States and Pakistan said Wednesday they want much broader ties between the two countries after years of cooperation limited mostly to the joint effort to hunt and contain terrorists.

AP - Pressure on China to allow its currency to rise in value against the dollar intensified on Wednesday with a prominent economist telling Congress that the Obama administration should cite China and four other Asian economies as currency manipulators in a report due in April.

Reuters - Thousands of small U.S. charities are likely to close this year as cautious donors and governments tighten spending and some states consider removing nonprofit tax breaks, experts said on Wednesday.

AP - U.S. newspaper advertising revenue last year plunged 27 percent to its lowest level since 1986. The figures released Wednesday reflect the devastating toll of the recession and a media shift that's driving more marketing dollars to the Internet.

AP - SINKING SALES: Sales of new homes fell unexpectedly last month, dropping 2.2 percent to the lowest point on record in February, in part because stormy winter weather kept buyers away.

Reuters - Sales of newly built homes fell for a fourth straight month to a record low in February, but another rise in new orders for durable goods offered assurance the economic recovery was on course.

AP - Pakistan's top diplomat said Wednesday that the United States is likely to pay Pakistan nearly $2 billion this spring that Pakistan says it is owed for cooperation against terrorism.

AP - Federal Reserve policymakers should deepen their understanding about how to combat speculative bubbles to reduce the chances of another financial crisis, the central bank's outgoing vice chairman said Wednesday.

Reuters - The Federal Reserve has not been clear enough about how it intends to unwind its unprecedented monetary easing campaign, and some of the tools it expects to use may not work, monetary experts will tell Congress on Thursday.

Reuters - Sales of newly built homes fell for a fourth straight month to a record low in February, but another rise in new orders for durable goods offered assurance the economic recovery was on course.

AFP - US Treasury Secretary Timothy Geithner said it was 'very important' for China to make its currency flexible, but a Chinese official on a Washington visit dismissed US demands for change.