AFP - US lawmakers were digging their heels in Wednesday against the government's 700-billion-dollar financial rescue package, setting the scene for a fierce showdown on Capitol Hill watched anxiously by markets around the globe.

AP - Oil prices fluctuated in choppy trading Wednesday, hovering near $106 a barrel as steadily falling U.S. fuel demand and a stronger dollar clashed with traders' concerns over shrinking global crude output.

Reuters - The FBI is investigating Fannie Mae , Freddie Mac , Lehman Brothers Holdings Inc and insurer American International Group Inc , expanding its probe of potential corporate fraud, law enforcement officials said on Wednesday.

AP - Refusing to be pushed, Republicans and Democrats alike rebuffed dire warnings Tuesday from the government's top economic officials of recession, layoffs and foreclosed homes if Congress doesn't quickly approve the administration's emergency $700 billion financial bailout plan.

Reuters - The FBI is investigating Fannie Mae , Freddie Mac , Lehman Brothers Holdings Inc. and insurer American International Group Inc. and their senior executives for potential mortgage fraud, CNN reported on Tuesday.

AFP - The US Federal Bureau of Investigation is probing allegations of fraud by 26 Wall Street firms including several investment giants whose collapse sent world markets into turmoil, US media said Tuesday.

AP - Oil prices rose above $108 a barrel Wednesday in Asia as investors waited for details of a proposed $700 billion plan to buy bad mortgage debt and stabilize the U.S. financial system.

AFP - A battle over the US government's financial rescue package carries on in Congress Wednesday after top finance officials urged its swift passage and lawmakers dug in their heels, while the FBI reportedly launched a probe of failed banks and mortgage giants.

AP - Federal Reserve Chairman Ben Bernanke bluntly warned reluctant lawmakers Tuesday they risk a recession with higher unemployment and increased home foreclosures if they fail to pass the Bush administration's $700 billion plan to bail out the financial industry.

AFP - The dollar recovered some ground on Tuesday as players awaited more details on a massive US government plan to bail out a banking system crippled by the subprime home loan crisis.