A jury on Wednesday sided with a south Louisiana couple in the first federal trial in Louisiana against State Farm Insurance Cos. over Hurricane Katrina damage.
American International Group Inc., the world's largest insurer, said Wednesday its third-quarter profit dropped 27 percent, hurt by tight credit and the ailing U.S. housing market.
The European Aviation Safety Agency reported Wednesday that Bombardier Inc.'s Q400 turboprops are airworthy after ruling that a series of recent accidents were not caused by design flaws.
Citigroup Inc., former CEO Charles Prince and other executives were sued in federal court Wednesday over losses related to the bank's subprime mortgage-backed securities portfolio.
Gold prices pushed higher for a fourth straight trading day on Wednesday, boosted by an inflationary combination of rising oil prices and a falling dollar. Crude oil hit a new record over $98 a barrel before pulling back in later trading.
The dollar slumped to another record low against the euro and a 26-year low against the British pound Wednesday, even as it approached Civil War-era lows against the Canadian currency, the "loonie."
Shares of Washington Mutual plunged Wednesday as the largest U.S. savings and loan hinted at another tough year ahead while investors learned that an investigation into alleged market collusion had broadened.
Rupert Murdoch's News Corp. reported a 13 percent decline in earnings Wednesday from a year ago, when results were lifted by gains from investment sales.
Cisco Systems Inc.'s first-quarter profit jumped 37 percent, edging the world's largest networking supplier past Wall Street's estimate Wednesday as demand continued rising for sophisticated Internet machinery.
British grocery giant Tesco PLC prepared to enter the U.S. market Wednesday, a day before the opening of its first six Fresh &Easy Neighborhood Market branches in Southern California.
Wall Street suffered its second big drop in a week Wednesday, with investors worried about spreading fallout from the credit crisis at banks and about a dollar that just keeps getting weaker. The Dow Jones industrial average fell more than 360 points ?just about matching its plunge of last Thursday.
