Reuters - U.S. businesses were able to raise prices for consumers in some areas even as the economy weakened, the Federal Reserve said in a report on Wednesday showing higher energy and commodity prices are causing inflation pressures.

AFP - US economic conditions are getting more sluggish with consumers squeezed by high energy costs and bank lending tighter, the Federal Reserve said in its Beige Book report Wednesday.

Reuters - Stocks were solidly lower on Wednesday as the Federal Reserve's Beige Book said economic activity was generally weak in late April and early June 2, adding to concerns about a surge in oil prices and further financial sector losses.

AP - The economy remained "generally weak" heading into summer as rising costs for energy and food pounded consumers and forced some companies to push their own prices higher.

Reuters - Wall Street mostly sagged on Tuesday as concern that interest rates will climb hurt technology shares, but the Dow managed to close on the positive side after an upgrade of Coca-Cola Co shares.

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.