Reuters - A Florida pension fund has filed a lawsuit against American International Group Inc and four top officials, including Chief Executive Martin Sullivan, for allegedly issuing false and misleading statements relating to the insurer's finances that inflated the prices of AIG securities.

Reuters - A U.S. federal judge on Thursday will re-evaluate the prison sentences of Adelphia founder John Rigas and his son Timothy after an appeals court overturned one part of their convictions last year.

Reuters - Crude oil soared to a fresh record high above $135 per barrel on Thursday as a surprise drawdown in U.S. crude oil inventories and a weaker dollar prompted heavy fund inflows into the market.

AP - The Federal Reserve on Wednesday sharply lowered its projection for economic growth this year, citing blows from the housing and credit debacles along with zooming energy prices. It also expects higher unemployment and inflation.

Reuters - Stocks fell on Wednesday as record crude oil prices and comments from the Federal Reserve fueled concerns about inflation and cutbacks in non-essential consumer spending.

Reuters - Oil prices surged more than $3 to a record near $133 a barrel on Wednesday after a U.S. government report showed a surprise drop in crude stockpiles, reinvigorating fears of a worsening supply crunch.

Reuters - The Federal Reserve on Wednesday cut its forecast for economic growth in 2008 and warned of higher inflation and unemployment but also signaled it was unlikely to cut interest rates again soon.

AFP - A conference seeking investment in the Palestinian territories opened on Wednesday in the biblical city of Bethlehem with calls for international business leaders to pump money into the struggling economy.

Reuters - American Airlines will cut thousands of jobs, retire old aircraft and charge passengers to check bags in a move to counter record fuel prices and a weak U.S. economy, the company said on Wednesday.