Reuters - CVS Caremark Corp said on Tuesday it would buy its U.S. West Coast rival Longs Drugs Stores Corp in a $2.54 billion deal that will allow it to expand in states like California and broaden the reach of its prescription services.

Reuters - JPMorgan Chase & Co said it has racked up $1.5 billion of losses so far this quarter on mortgage-linked assets, reflecting deepening turmoil in credit markets.

Reuters - The U.S. trade deficit shrank unexpectedly in June as the weak U.S. dollar helped push exports higher and overpowered record high prices for imported oil, a Commerce Department report showed on Tuesday.

Reuters - General Motors Corp , looking to trim its nearly $5 billion-a-year health-care tab, is cracking down on workers who are collecting medical benefits for ineligible dependents, the Wall Street Journal said Wednesday.

Reuters - Ford Motor Co's plan to overhaul its North American operations to produce more cars remains unchanged amid recent declines in gas prices, a top executive said on Tuesday.

AP - TJX Cos., which operates the T.J. Maxx and Marshalls stores, said Tuesday that its second-quarter profits more than tripled from a year ago when the discount fashion retailer digested a charge for a widely publicized security breach.

AP - Russian stock markets rose Monday as investors focused on the long-term opportunities offered by Russia's booming economy instead of the clash between Russia and Georgia over the separatist province of South Ossetia.

Reuters - JPMorgan Chase & Co said it has racked up $1.5 billion of losses so far this quarter on mortgage-linked assets, reflecting deepening turmoil in credit markets.

Reuters - UBS will separate its troubled investment bank from its prized wealth management arm, paving the way to sell the business that made it Europe's biggest casualty of the credit crunch.

Reuters - Renewed credit concerns knocked down shares of the major U.S. banks on Tuesday, driving the Dow and S&P 500 lower, and offsetting a decline of $1 in the price of the barrel of U.S. crude oil.

Reuters - Anheuser-Busch Cos Inc on Tuesday said it approved an enhanced employee buyout program that it expects will reduce its salaried work force 10 percent to 15 percent.

Reuters - The U.S. trade deficit shrank unexpectedly in June as the weak U.S. dollar helped push exports higher and overpowered record high prices for imported oil, a Commerce Department report showed on Tuesday.

AFP - Tesco, the biggest British retailer, announced on Tuesday plans to open wholesale grocery stores in India that will supply goods to hypermarkets owned by Indian conglomerate Tata Group.