U.S. foreclosure activity for May ebbed from April's record, but mortgages still failed at a staggering pace as President Barack Obama's rescue programs had not had time to fully take root, RealtyTrac said on Thursday. Foreclosure filings dipped 6 percent in the month but increased 18 percent from May 2008, marking the third highest month

U.S. stocks fell on Wednesday on worries that rising interest rates could put a damper on consumer and business spending, but stocks pared losses late in the session to finish off the day's lows. The market had extended losses after a 10-year Treasury note auction sparked a sell-off in bonds, pushing yields briefly above 4

Fiat SpA closed its acquisition of Chrysler's strongest assets on Wednesday, a key step in the Italian carmaker's ambitious plan to create a global player to ride out the worldwide auto sales downturn. The Fiat and Chrysler announced deal revives the 84-year old U.S. automaker that had been down to its last dollars before government

Will digital downloads kill the videogames store? That's the multibillion dollar question facing retailers from Wal-Mart Stores Inc and Target Corp to GameStop Corp, as Internet distributors continue to grow. Retailers like Target splashed out on large booths at last week's E3 Expo in Los Angeles, showcasing games like Activision's "Transformers: Revenge of the Fallen."

Microsoft Corp is getting ready to unveil a long-anticipated free anti-virus service for personal computers that will compete with products sold by Symantec Corp and McAfee Inc. A Microsoft spokesman said on Wednesday that the world's biggest software maker is testing an early version of the product with its own employees. Microsoft would "soon" make

Asian stocks edged higher, powered by a sharp rise in commodity-related shares as oil prices extended gains on Thursday, keeping a rising trend in raw materials prices intact and boosting the Australian dollar. Major European stock markets were expected to open as much as 0.3 percent higher, according to financial bookmakers, ahead of U.S. retail

The Venezuelan government of U.S.-critic President Hugo Chavez on Wednesday ordered Coca-Cola Co to withdraw its Coke Zero beverage from the South American nation, citing unspecified dangers to health. The decision follows a wave of nationalizations and increased scrutiny of businesses in South America's top oil exporter. Health Minister Jesus Mantilla said the zero-calorie Coke

Chinese investment surged in May, adding to hopes the world's third-largest economy may lead a recovery, but confirmation of a record slump in Japan's first-quarter GDP reinforced expectations its rebound from recession will be slow. China's investment pick-up, which comes on the back of large government stimulus spending, offset surprisingly weak figures for exports and