Reuters - Northwest Airlines Corp said on Wednesday it would cut its frontline and management staff by 8 percent as part of a sweeping capacity reduction aimed at offsetting the soaring cost of jet fuel.

Reuters - Defense Secretary Robert Gates said on Wednesday he planned to reopen a $35 billion competition between Boeing Co and a team of Northrop Grumman Corp and Europe's EADS to build new aerial refueling tankers.

Reuters - Federal Reserve Chairman Ben Bernanke said on Tuesday the U.S. central bank might keep open a lifeline to financial firms, while the latest data showed distress in the housing and retail sectors continues.

AFP - Japan's core machinery orders were unexpectedly strong in May but experts warned the official figures released on Wednesday had failed to dispel gloom about prospects for Asia's largest economy.

Reuters - Advertising revenue from YouTube is likely to total about $200 million this year and thus fall short of parent company Google Inc's

Reuters - Aluminum producer Alcoa Inc on Tuesday posted a better-than-expected quarterly profit, lifting its shares, as higher aluminum prices and sales volumes offset increased costs.

Reuters - Oil rose a dollar on Wednesday, recovering from a more than $5 fall a day ago, after Iranian state media reported that the country had test-fired missiles that could reach Israel and U.S. bases in the region.

Reuters - The U.S. dollar fell and Asian stocks surrendered some gains on Wednesday, after a report that Iran tested a missile that could reach Israel, raising concerns this week's $9 dip in oil prices is only fleeting.

Reuters - Office supplies retailer Office Depot Inc said on Tuesday that its North American same-store sales fell nearly 10 percent in the second quarter and warned its operating margins would fall more than expected, hit by a weakening U.S. economy.

Reuters - IndyMac Bancorp Inc on Tuesday said depositors were withdrawing cash at an "elevated" pace after a prominent U.S. senator recently questioned the big mortgage lender's ability to survive the U.S. housing crisis.

AFP - Eight of the world's most powerful leaders called Tuesday for efforts to cool sizzling oil prices, warning soaring fuel and food costs were a threat to world economic growth.

Reuters - German industrial conglomerate Siemens AG (SIEGn.DE) plans to slash almost 17,000 jobs worldwide to speed up cost savings and boost margins as it prepares for a global economic downturn.