Oil's rally to a record above $135 a barrel came as traders bought crude to cover wrong-way bets that prices would decline, according to data from the New York Mercantile Exchange.
Federal Reserve policymakers signaled that an economic contraction in the first half won't be enough to spur further interest-rate cuts because of a rising threat from inflation.
Most stocks in Europe and Asia fell for a third day on concern record oil prices will curb profits at carmakers and airlines while higher inflation keeps the Federal Reserve from cutting interest rates.
Time Warner Inc, the world's largest media company, and Time Warner Cable Inc agreed on a complete separation and a $10.9 billion one-time cash dividend.
Oil prices rose above US$130 a barrel for the first time yesterday as supply concerns mounted and the dollar weakened.
Microsoft Corp is not looking to bid to buy all of Yahoo Inc but is in talks about other types of deals with the US No 2 search engine, Microsoft CEO Steve Ballmer said yesterday.
A chance encounter on a mountain road outside Chengdu is the one defining moment radio producer Art Silverman will never forget.
At Jiangyou county, one of the worst-hit quake areas in Sichuan province, a pregnant woman walked out of a makeshift shelter - a large cement pipe draped with a tarp.
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