Reuters - Cash from government stimulus checks helped push U.S. retail sales up at twice the rate expected in May but the strength could be fleeting as households contend with soaring prices and the worst housing slump in decades.

Reuters - U.S. businesses have faced rising costs in recent weeks but retailers have had only "mixed results" trying to raise selling prices with the economy still weak, the Federal Reserve said in a report on Wednesday.

Reuters - Stocks sank on Wednesday, with all three indexes losing around 2 percent, after oil prices shot back near their record high, stoking fears about inflation and its toll on consumers.

AP - Oil prices regained their stunning upward momentum Wednesday, rising 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.

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.