Reuters - General Motors Corp on Tuesday announced a plan to cut costs by $10 billion, suspend its common stock dividend and sell up to $4 billion in assets in a bid to shore up cash and survive a deep industry slump.

Reuters - U.S. securities regulators issued an emergency rule on Tuesday to limit certain types of short selling in major financial firms, including Fannie Mae and Freddie Mac .

Reuters - Former Samsung Group chief Lee Kun-hee, one of South Korea's most powerful businessmen, was handed a 3-year suspended jail sentence on Wednesday for tax evasion, but was cleared of other charges.

AFP - US retail sales slowed more than expected in June as American consumers cut back spending in the face of economic concerns and worries about the health of major banks, a government survey showed Tuesday.

AP - Federal Reserve Chairman Ben Bernanke told Congress Tuesday the fragile economy is facing "numerous difficulties" despite the Fed's aggressive interest rate reductions and other fortifying steps.

Reuters - The Dow and S&P fell on Tuesday in turbulent trading after the Federal Reserve chairman said financial markets were under considerable stress, outweighing optimism that a dramatic drop in oil prices could help corporate profits and consumer spending.

Reuters - Oil dropped more than $9 on Tuesday, the largest drop in dollar terms in 17 years, as growing concern about the economic health of top energy consumer the United States stirred demand worries.

Reuters - General Motors Corp on Tuesday announced a plan to cut costs by $10 billion, suspend its common stock dividend and sell up to $4 billion in assets in a bid to shore up cash and survive a deep industry slump.

Reuters - A weakening housing market, strained banking system and rising oil prices threaten the U.S. economy, and restoring financial market stability is a top priority, Federal Reserve Chairman Ben Bernanke said on Tuesday.

AFP - Internet auction giant eBay cannot be held liable for trademark infringement for counterfeit items sold through its website, a US judge ruled Monday in a case brought by luxury retailer Tiffany.

Reuters - General Motors Corp Chief Executive Rick Wagoner is slated to announce the automaker's second major restructuring package in six weeks on Tuesday as the company looks to cut costs and win back investor confidence in the face of slumping sales.