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Ship-barge crash closes Mississippi at New Orleans

A stretch of the Mississippi River at New Orleans could be closed for days as crews clean a 12-mile oil slick caused Wednesday when a tanker and barge collided, officials said.- 10:19 PM

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House OKs rescue for homeowners, Freddie, Fannie

Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac.- 10:29 PM
FEMA seeks immunity from suits over trailer fumes

The Federal Emergency Management Agency asked a federal judge Wednesday for immunity from lawsuits over potentially dangerous fumes in government-issued trailers that have housed tens of thousands of Gulf Coast hurricane victims.- 4:54 PM
Stocks advance following sharp drop in oil prices

Stocks advanced for the second straight session Wednesday as another decline in oil prices and several upbeat profit reports eased some of Wall Street's concerns about the economy.- 6:14 PM
Minimum wage going up, little help as costs soar

About 2 million Americans get a raise Thursday as the federal minimum wage rises 70 cents. The bad news: Higher gas and food prices are swallowing it up, and some small businesses will pass the cost of the wage hike to consumers.- 9:14 PM
NY Times misses Wall Street revenue forecast

New York Times Co.'s second-quarter earnings fell 82 percent from a year ago, when it saw a one-time gain from the sale of a unit, but print advertising continued to shrink and pulled down operating income, the publisher said Wednesday.- 10:37 AM
Commodities turn lower for 2nd day on crude drop

Commodities extended their slide Wednesday as crude oil fell below $125 a barrel, dragging down gold, soybeans, wheat and other hard assets as traders shifted money into equities.- 5:09 PM
New York Times to raise newsstand price to $1.50

The New York Times Co. will increase the Monday-Saturday newsstand cost of its flagship paper by 25 cents to $1.50, the publisher said Wednesday.- 4:04 PM
Chrysler plans to cut 1,000 salaried jobs

Chrysler LLC said Wednesday it will cut 1,000 salaried jobs worldwide by Sept. 30 as it tries to return to profitability amid a severe downturn in U.S. sales.- 6:34 PM
Utilities say grid can handle rechargeable cars

Which draws more juice from the electric grid, a big-screen plasma television or recharging a plug-in hybrid car?- 2:14 PM
Summary Box: McDonald's swings to 2Q profit

KEY RESULTS: McDonald's Corp. swung to a second-quarter profit, helped by strong worldwide sales and a gain from selling its stake in sandwich chain Pret A Manger. Revenue rose 4 percent overall.- 2:54 PM
Stock futures head to higher open

Wall Street looked to extend its gains Wednesday as oil extended its retreat and investors turned a bit more hopeful about the economy.- 3:04 PM
Oil drops below $125 for 1st time in over 6 weeks

Oil prices shed nearly $4 Wednesday, tumbling below $125 a barrel for the first time since early June on growing fears that high prices and the weak economy are destroying demand.- 4:44 PM
Costco sees 4Q below estimates

Costco Wholesale Corp. said Wednesday that its earnings for the current quarter will be lower than expected as it delays raising prices on items from food to patio sets amid soaring energy costs that have accelerated in recent weeks.- 5:54 PM
Sallie Mae's 2Q profit falls 72 percent

Student lender SLM Corp., more commonly known as Sallie Mae, said Wednesday its second-quarter profit plunged 72 percent as funding costs remained high amid further weakening in the credit markets and the company took charges related to its restructuring.- 6:34 PM
Costco's profits squeezed by higher energy costs

Costco Wholesale Corp. - which has attracted shoppers looking for cheaper options - warned Wednesday that its earnings in the current quarter will be below Wall Street expectations as it faces higher energy costs that are crimping profit margins.- 6:09 PM
Pricing, weaker dollar help Philip Morris 2Q

Cigarette maker Philip Morris International said Wednesday that net income rose 23 percent in the second quarter, boosted by higher prices and the weaker dollar.- 9:36 AM
Ship-barge crash closes Mississippi at New Orleans

A stretch of the Mississippi River at New Orleans could be closed for days as crews clean a 12-mile oil slick caused Wednesday when a tanker and barge collided, officials said.- 9:49 PM
Toyota's global sales rose 2 percent in 1st-half

Toyota sold more than 4.8 million vehicles worldwide in the first half, up 2 percent from the same period a year earlier, the Japanese automaker said Wednesday.- 2:14 PM
AT&T 2Q profit up 30 pct, matching Street's view

AT&T Inc.'s second-quarter financial results Wednesday indicated that the weak economy is catching up to the nation's largest telecommunications company, but investors were largely satisfied with what they saw.- 7:24 PM

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