AFP - The United States and China will tackle rising inflation and the thorny issue of the undervalued Chinese currency at bilateral economic talks next week, US Treasury Secretary Henry Paulson said Tuesday.

Reuters - American consumers' confidence was unchanged in the latest week, near its record low as U.S. gasoline prices rose above $4 per gallon for the first time ever and unemployment registered the biggest monthly rise in more than two decades, a report showed on Tuesday.

AP - The trade deficit soared to the highest level in more than a year as an improvement in exports was swamped by record-high levels of imported crude oil. The deficit with China also rose sharply.

AFP - The dollar gained ground on world currency markets Tuesday after Federal Reserve chairman Ben Bernanke warned about inflationary risks, causing traders to raise the odds of potential US interest rate hikes.

Reuters - Retail sales excluding cars improved in May, as consumers shelled out more money for gasoline at the expense of other purchases, according to a private report released on Wednesday.

Reuters - U.S. stocks shifted gears and climbed at midday on Tuesday as investors bought Dow industrials like Coca-Cola and other companies with steady earnings, while a drop in oil prices helped ease concerns about inflation.

AP - The trade deficit jumped to the highest level in 13 months in April as America's bill for foreign crude oil soared to an all-time high.

AFP - The United States and China will tackle rising inflation and the thorny issue of the undervalued Chinese currency at bilateral economic talks next week, US Treasury Secretary Henry Paulson said Tuesday.

AFP - The dollar gained in European trade on Tuesday after remarks from Federal Reserve chairman Ben Bernanke added to speculation about possible hikes to US interest rates, dealers said.