Business News - AP

WASHINGTON - The Obama administration drew a line in the sand on financial bailouts Wednesday by denying emergency aid to CIT Group Inc., a struggling commercial lender on the brink of bankruptcy.

WASHINGTON - Sharply higher prices for everyday goods in June reflected a surge at the gas pump, not the start of a dangerous bout of inflation. In fact, economists say falling prices are the bigger danger.

NEW YORK - The nation's big companies are giving investors a reason to restart Wall Street's spring rally.

CHICAGO - Sports fans have dealt with it for years: a favorite team sells the naming rights to its stadium in a lucrative, if unsentimental, money grab.

WASHINGTON - Defending the government's handling of the economic crisis last year, former Treasury Secretary Henry Paulson said Wednesday that the Bush administration's responses were not perfect but "saved this nation from great peril."

WASHINGTON - When it brokered the restructuring of Chrysler and General Motors, President Barack Obama's auto task force repeatedly pledged that it would steer clear of running a car company.

WASHINGTON - The Federal Reserve expects the economy this year will sink at a slower pace than it previously thought, but that unemployment will top 10 percent and remain high for the next few years, according to a new forecast released Wednesday.

SAN FRANCISCO - Breaking into someone's e-mail can be child's play for a determined hacker, as Twitter Inc. employees have learned the hard way — again.

NEW YORK - American International Group Inc. is speeding up plans to spin off its American Life Insurance Co. unit as an independent public company, the company said Wednesday.

JAKARTA, Indonesia - U.S. mining company Freeport has ordered its 20,000 employees in Indonesia to avoid the only road to the world's largest gold mine, following several days of deadly ambushes by mysterious gunmen.