AFP - US stocks closed lower Tuesday as several major banks unveiled fresh losses reminding investors that an already lengthy credit crunch is still biting financial firms balance sheets.

Reuters - U.S. stocks slid on Wednesday as financial shares sold off for a second straight day on fresh concerns about the widening impact of the mortgage crisis on the U.S. economy's outlook.

Reuters - Oil rose nearly $4 a barrel on Wednesday after a U.S. government report showed declines in fuel and crude inventories in the world's top consumer.

Reuters - Chrysler LLC is planning a new car-based SUV that will hit showrooms in 2010, and has identified over $1 billion in non-earning assets it will sell to raise cash.

Reuters - Retail sales edged down 0.1 percent in July on a big drop at auto dealers, the government said on Wednesday in a report suggesting consumers were straining to keep spending up amid rising prices.

Reuters - U.S. and state regulators are close to reaching a settlement with multiple banks accused of selling auction-rate securities under false pretenses that would force them to repurchase billions of dollars of the now-illiquid securities at face value, people familiar with the matter said on Wednesday.

AFP - China's retail sales rose by 23.3 percent in July from a year ago to 862.9 billion yuan (126 billion dollars), the government said Wednesday.

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.