AFP - In a new reform move, communist Cuba announced Wednesday it was scrapping salary caps long meant to underscore egalitarianism but which President Raul Castro's government says hurt productivity.

Reuters - Large U.S. cities are economically strong -- generating 75 percent of the country's gross domestic product -- but only one-fifth enjoy a mix of healthy productivity, narrow wage inequality and environmental sustainability, according to a survey released on Thursday.

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.

AP - Motorists can expect gasoline prices around $4 gallon through next year, the Energy Department said Wednesday, with oil prices staying well above $100 a barrel.

AP - Oil prices regained their stunning upward momentum Wednesday, soaring as crude's biggest drivers — a weak dollar and supply concerns — brought buyers back in force. At the pump, gas prices rose to a new record over $4.05 a gallon.

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.