Asian shares mostly rise as Europe worries ease (AP)

AP - Asian shares were mostly higher Thursday following advances on Wall Street and in Europe after a successful bond sale by Portugal eased debt crisis worries. But Chinese shares fell on fears that authorities might do more to cool the property sector.

U.S. slips in WEF's competitiveness rankings (Reuters)

Reuters - Switzerland remains the world's most competitive economy, while the United States has fallen from second to fourth after losing the top spot last year, according to the World Economic Forum's annual rankings issued on Thursday.

China prepares further property tightening (Reuters)

Reuters - Some Chinese cities are preparing fresh property tightening steps as housing transactions and prices show signs of a rebound, reinforcing market expectations that Beijing will not ease its grip on the sector any time soon.

Economists cut U.S. growth forecast again (Reuters)

Reuters - Projected U.S. economic growth for the rest of this year and next was revised down for a third month in a row by a panel of about 50 economists.

FDIC's Bair warns of government "exposure" in mortgages (Reuters)

Reuters - A key U.S. banking regulator raised concern on Wednesday about the risk of "exposure" the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.

SEC defends $75 million deal with Citigroup (AP)

AP - The government is defending as "fair and adequate" its $75 million settlement with Citigroup Inc. over charges it misled investors about billions in potential losses from subprime mortgages.

Wind-whipped fires add to Detroit's economic woes (AP)

AP - For a city already struggling with high unemployment, widespread foreclosures and deep budget cuts, here was another crisis: Wind-whipped fires tearing through row after row of homes, some of them abandoned.

Financial crisis panel tells NV leaders to be bold (AP)

AP - From mortgage problems to education and budget issues, Nevada leaders on Wednesday delivered a sobering assessment of the state's future as a result of the Great Recession during seven hours of testimony before a federal panel investigating the country's financial meltdown.

Financial crisis panel tells NV leaders to be bold (AP)

AP - From mortgage problems to education and budget issues, Nevada leaders on Wednesday delivered a sobering assessment of the state's future as a result of the Great Recession during seven hours of testimony before a federal panel investigating the country's financial meltdown.

Obama: U.S. can't afford to extend tax cuts for rich (Reuters)

Reuters - President Barack Obama, fighting to keep Democrats in charge of Congress, said on Wednesday the United States could not afford to extend Bush-era tax cuts for the rich and accused Republicans of being fiscally irresponsible.

Obama: Democrats in trouble if election based on economy (AFP)

AFP - President Barack Obama admitted Wednesday if US voters in the upcoming midterm elections make their choices based on their opinion of the economy, his Democratic Party could be in big trouble.

Obama sees Democratic pain if vote hinges on economy (Reuters)

Reuters - President Barack Obama said on Wednesday that Democrats risked punishment in November's congressional elections if they allow the vote to be just about the U.S. economy, rather than the two parties' policies.

Flash crash cause still a mystery (Investor's Business Daily)

Investor's Business Daily - The SEC, which is probing the stock market "flash crash" on May 6, still hasn't identified a single cause, but a trade practice known as "stub quotes" and other issues contributed to the market's dramatic drop, sources said. Stub quotes are orders placed by market makers that are well off the market prices for stocks. The SEC wants to ban stub quotes.

More stimulus needed for economy: Geithner (Reuters)

Reuters - Treasury Secretary Timothy Geithner said on Wednesday the United States needed more incentives to stimulate job growth and bolster a slow recovery from a "savage" recession.

SEC says proposed Citi settlement is fair (Reuters)

Reuters - The top securities regulator defended its proposed $75 million settlement with Citigroup , saying the penalty reasonably accounts for the seriousness of the bank's alleged misconduct, according to a document filed in court on Wednesday.

Summary Box: Stocks rebound as Europe worries ease (AP)

AP - BACK ON TRACK: The Dow Jones industrial average and other market indicators rose Wednesday as concerns about Europe's financial system eased thanks to a successful sale of debt by Portugal. The Dow rose five out of the last six days.

Fed survey sees slower growth in East and Midwest (AP)

AP - The economy lost strength in late summer as factory production weakened in areas of the East Coast and Midwest.

Summary Box: More places see slower growth (AP)

AP - ECONOMY LOSES SPEED: A Federal Reserve survey found "widespread signs" that economic growth had slowed in the late summer.

How the major stock indexes fared Wednesday (AP)

AP - Stocks resumed their rally Wednesday after a successful auction of Portuguese government debt eased worries about Europe's financial system. Major indexes pulled back from their highs in the afternoon after the Federal Reserve said more regions of the country saw slower growth late in the summer.

Obama seeks to mend frayed bond with voters (AFP)

AFP - US President Barack Obama Wednesday admitted some of his policies were unpopular and had not revived the economy quickly enough, but sought to rekindle his frayed bond with American voters.

Stocks resume rally as European debt worries ease (AP)

AP - Stocks resumed their rally Wednesday after a successful auction of Portuguese government debt eased worries about Europe's financial system.

Highlights from the Fed's latest economic survey (AP)

AP - Highlights from the Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts.

Consumers cut back on credit card use once again (AP)

AP - Consumer borrowing fell again in July as households cut back on their credit card use for a 23rd consecutive month, adding more drag on an economy struggling to mount a sustained rebound.

Consumers cut back on credit card use once again (AP)

AP - Consumer borrowing fell again in July as households cut back on their credit card use for a 23rd consecutive month, adding more drag on an economy struggling to mount a sustained rebound.

Wall Street climbs in low-volume session (Reuters)

Reuters - Stocks rose on Wednesday as investors latched onto positive news out of Europe in the latest in a string of low-volume sessions suggesting little confidence in market direction.

Fed sees 'widespread' signs US economy is slowing (AFP)

AFP - The US economic recovery is showing "widespread" signs of slowing, the US Federal Reserve warned Wednesday, as it gears up for a key policy meeting later this month.

A look at economic developments around the globe (AP)

AP - TOKYO — Japan's machinery orders, a key gauge of future business investment, rose the most in seven months, a sign that companies are more confident in the economic recovery.

Bankers urge government to pull plug on Fannie, Freddie (Reuters)

Reuters - The federal government should take mortgage finance giants Fannie Mae and Freddie Mac off life support sooner rather than later, the Mortgage Bankers Association urged on Wednesday.

Geithner: U.S. scarred by "savage" recession (Reuters)

Reuters - Treasury Secretary Timothy Geithner said on Wednesday the United States is recovering slowly from a "savage" recession that has caused deep job cuts and a loss of confidence.

Fed report shows widespread signs growth easing (Reuters)

Reuters - The economy has shown "widespread signs" of slowing over recent weeks, the Federal Reserve said on Wednesday in a report suggesting that while the recovery has been faltering, the economy may skirt a second recession.

Obama tells Ohio audience of own family struggles (AP)

AP - President Barack Obama is getting a little personal about the sluggish economy, telling a Cleveland audience about his own family's struggles and hardships.

Flash crash report: plunge still a mystery: sources (Reuters)

Reuters - Regulators probing the stock market "flash crash" last May still have not uncovered a single cause but will point to "stub quotes" and other previously identified issues as having exacerbated the market's dramatic drop, according to two sources familiar with the probe.

Fidel Castro says Cuban model no longer works (Reuters)

Reuters - Fidel Castro said Cuba's economic model no longer works, a U.S.-based journalist reported on Wednesday following interviews with the former president last week.

Kuwait appoints first stock market regulator (AFP)

AFP - Kuwait has appointed its first independent regulatory body, the Capital Market Authority, to oversee its stock exchange, Commerce Minister Ahmad al-Harun said on Wednesday.

Freddie Mac to issue new 5-year note due 2015 (AP)

AP - Government sponsored mortgage buyer Freddie Mac said Wednesday it plans to issue new five-year notes due on Sept. 10, 2015.

Oppenheimer downgrades H&R Block to 'Perform' (AP)

AP - Tax preparation company H&R Block has struggled for the last two tax seasons and faces uncertainty over the mortgages it still holds from its former lending operations, an Oppenheimer analyst said Wednesday.

FTSE 100 closes higher (AFP)

AFP - London shares closed higher on Wednesday after a boost from a successful Portuguese debt auction, although many financial stocks remained weak.

What Great Chess Players Can Teach Investors (The Motley Fool)

The Motley Fool - The constant iterative calculation of risk and reward required in every chess move translates well to the investing world. I thought it might be instructive to look at three chess world champions and see how their style matches up to various investment styles. Do you see your own style in any of these Grandmasters?

Summary Box: Mortgage lending falls 1.5 pct (AP)

AP - MORTGAGE APPLICATIONS SLIP: Applications for home loans dipped last week as mortgage rates ticked up slightly from the lowest level in decades, according to the Mortgage Bankers Association.

Wall Street up as fears for European economy ease (AFP)

AFP - US stocks were slightly up on Wednesday after news of a successful Portuguese debt auction eased the previous day's concerns about the European economy.