AFP - With market turmoil intensifying on fears of a banking crisis, Federal Reserve chairman Ben Bernanke faced a new grilling Wednesday after warning of a bumpy road to economic recovery.

Reuters - Consumer spending may have slowed and U.S. retail sales are struggling, but the environment has not dampened J.C. Penney Co Inc's efforts to celebrate its latest brand launch in style.

AFP - US financial markets remained on tenterhooks on Tuesday as the banking sector faced a crisis of confidence even after an unprecedented government rescue of mortgage giants.

AP - Wall Street recouped its steep early losses and traded mixed Tuesday as oil dropped by more than $7 a barrel, giving investors hope that lower energy prices could help revive the flagging economy.

Reuters - Total sales at retailers rose a less-than-expected 0.1 percent in June, as auto sales had their biggest drop in more than two years, a Commerce Department showed on Tuesday.

AFP - The US economy is growing a bit faster than expected and could avert recession, Federal Reserve chairman Ben Bernanke indicated Tuesday, while citing a "critical" need to keep inflation expectations in check.

Reuters - The Dow and S&P fell on Tuesday in turbulent trading after the Federal Reserve chairman said financial markets were under considerable stress, outweighing optimism that a dramatic drop in oil prices could help corporate profits and consumer spending.

AP - The economy showed the depth of its twin problems on Tuesday, slow growth and rising inflation, as the nation wrestled with a teetering financial system, a slumping dollar and rising prices for food and fuel.

Reuters - Even as companies in the auto, airline and financial sectors slash jobs in the face of a slowing economy, most U.S. and Canadian workers who escape the cost-cutting ax can expect their paychecks to get a little fatter next year.

Reuters - A weakening housing market, strained banking system and rising oil prices threaten the U.S. economy, and restoring financial market stability is a top priority, Federal Reserve Chairman Ben Bernanke said on Tuesday.