Stocks resume rally as European debt worries ease (AP)

AP - Stocks resumed their rally Wednesday after a successful auction of Portuguese government debt eased worries about Europe's financial system.

Israel Tal, father of the 'Merkava' tank dies (AP)

AP - Israel Tal, a decorated war hero and the creator of Israel's renowned "Merkava" tank, died in the Israeli town of Rehovot on Wednesday. He was age 86, according to the military announcement.

(AP)

AP - Mexican marines arrest 7 alleged gunmen in massacre of 72 migrants.

Muslim mason immortalized at French cathedral (AP)

AP - A Muslim stonemason who spent nearly four decades helping to restore a Roman Catholic cathedral in France has been immortalized as a winged gargoyle peering out from its facade — with the inscription "God is great" written in French and Arabic.

Eleven killed in Mogadishu battles (AFP)

AFP - At least 11 people including civilians died on Wednesday in fighting between African Union troops backing the Somali government and Islamist rebels, officials and witnesses said.

Mahmood Karzai profited on deal tied to Kabul Bank (AP)

AP - The brother of Afghanistan's president said Wednesday he made at least $800,000 by buying and then quickly reselling a high-end Dubai villa using a loan provided by the chairman of the troubled Kabul Bank.

Waiting for a hospital bed in Beijing _ on the sidewalk (McClatchy Newspapers)

McClatchy Newspapers - BEIJING — The frail old woman sat on a small wooden folding chair, staring at the sidewalk and waiting for a bed to open up at the hospital across the street.

Oil higher as stocks rise, Europe worries ease (AP)

AP - Oil prices followed stocks higher on Wednesday, as worries about European debt problems eased and buyers returned to the market.

Obama: U.S. can't afford to extend tax cuts for rich (Reuters)

Reuters - President Barack Obama, fighting to keep Democrats in charge of Congress, said on Wednesday the United States could not afford to extend Bush-era tax cuts for the rich and accused Republicans of being fiscally irresponsible.

Peru president: New Yorker Berenson not a threat (AP)

AP - President Alan Garcia says he doesn't consider Lori Berenson a threat to Peru, suggesting he may be inclined to commute the New Yorker's accomplice-to-terrorism sentence so she can go home.

Obama's tax break for business: Will it put Americans to work? (The Christian Science Monitor)

The Christian Science Monitor - A new round of tax incentives for US businesses could have some positive impact on the job market, but it's not likely to ignite massive employment.

BP and partners trade blame for oil spill (Reuters)

Reuters - A BP Plc investigation of the Gulf of Mexico disaster played down its own role in the world's worst offshore oil spill and pointed the finger at what it said were failures by contractors.

European pressure mounts on Iran over stoning case (AP)

AP - European Union nations and the continent's biggest human rights organization slammed Iran on Wednesday for its plans to stone a woman convicted of adultery, increasing the global pressure on Tehran over a case it has tried to frame as a criminal matter and not one of human rights.

AP Source: New GM CEO wants automaker to beat BMW (AP)

AP - New General Motors CEO Daniel Akerson (AAAK-er-sun) is telling employees that the automaker needs to make cars and trucks that are better than competitors such as BMW.

Summary Box: Portugal bond sale reflects debt fear (AP)

AP - HIGH COSTS: Portugal raised $1.3 billion in a debt auction Wednesday, but at sharply higher borrowing costs compared with recent auctions.

North Korea Succession: Reports of Power-Handover Talks (Time.com)

Time.com - In North Korea, the first congress in 30 years of the Workers' Party of Korea may be imminent, suggesting that a succession is being prepared to hand power from Kim Jong Il to his son Kim Jong Un

Koran Burning: Cues from Osama bin Laden Media Strategy? (Time.com)

Time.com - While he's planning violence against books, not people, the would-be Koran-burning Florida preacher Terry Jones is following a self-promotion strategy similar to that of al-Qaeda leader Osama bin Laden

Google seeks to speed up Web searches (Reuters)

Reuters - Google Inc unveiled a set of enhancements to its Internet search engine on Wednesday that predict search queries as users type, promising to speed up the time it takes to find information online and to generate more searches on the website.

Jackson Hewitt narrows 1Q loss as expenses fall (AP)

AP - Jackson Hewitt Tax Service Inc. on Wednesday posted a narrower first-quarter loss as its expenses fell, beating Wall Street expectations, but its shares fell after it said it would seek new financing for its refund anticipation loan program.

Summary Box: Ireland to split Anglo Irish Bank (AP)

AP - SPLIT: Ireland plans to split its most troubled financial institution, Anglo Irish Bank, into a "good" deposit bank and a "bad" toxic-debt bank. The move comes as the nation seeks to reassure international lenders that it is dealing with the Irish debt crisis.

Australian government prepared to adjust mining tax (Reuters)

Reuters - Australia's fragile Labor government suggested on Wednesday it could adjust a planned profits-based tax on mining companies to bend to demands of the independent MPs giving it a slender grip on power.

Mullah Omar tells Afghans Taliban are winning (AP)

AP - The Taliban's shadowy leader told Afghans on Wednesday that the insurgents are winning the war and warned Americans that they are wasting lives and billions in tax dollars by continuing in the conflict.

Freddie Mac to issue new 5-year note due 2015 (AP)

AP - Government sponsored mortgage buyer Freddie Mac said Wednesday it plans to issue new five-year notes due on Sept. 10, 2015.

Goldman NY proprietary traders consider next move (Reuters)

Reuters - Members of Goldman Sachs Group Inc's New York Principal Strategies team are in talks with several groups, including KKR, Perella Weinberg, BlackRock Inc and Carlyle Group, to possibly join one of the firms, a source familiar with the matter said.

In Gulf work camp, jobless begin glum journey home (AP)

AP - The hidden face of the Emirates' economic crunch is in places such as Industrial Zone 18 and the ramshackle compound for about 700 migrant workers within. For more than six months, they have lived on charity, fought off rats and slept amid piles of trash after a construction company abruptly closed and left them jobless.

Hungary won't seek to renew IMF, EU loans (AP)

AP - Hungary will not seek any more loans from the International Monetary Fund or the European Union and will be able to meet its financing needs by selling bonds to international and domestic investors, Economics Minister Gyorgy Matolcsy said Wednesday.

S&P 500 rises 1 percent (Reuters)

Reuters - The Standard & Poor's 500 index rose more than 1 percent in afternoon trading on Wednesday, while the Dow and Nasdaq added to gains as worries about Europe's banking system decreased, easing risk aversion.

Tories see poll lead evaporate (Reuters)

Reuters - The Conservative government has seen its lead over the Liberals evaporate following recent controversies and the two parties are now statistically deadlocked, according to a public opinion poll released on Wednesday.

Summary Box: Mortgage lending falls 1.5 pct (AP)

AP - MORTGAGE APPLICATIONS SLIP: Applications for home loans dipped last week as mortgage rates ticked up slightly from the lowest level in decades, according to the Mortgage Bankers Association.

Tight inventories hurt Talbots sales (Reuters)

Reuters - Women's clothing retailer Talbots Inc posted lower-than-expected quarterly sales and its shares fell 11.6 percent as efforts to keep inventory lean and preserve margins left it short of items to sell.

Banging a Drum for the MDG Summit (OneWorld.net)

OneWorld.net - NEW YORK, Sep 7 (IRIN) - Activists are pulling out all the stops ahead of a development summit at UN headquarters on 20-22 September. Pro-aid and anti-poverty lobbyists are trying everything from giant letters to banging pans to raise awareness of the high-level event.

IAEA report: What's driving Iran's latest bout of nuclear obstinacy (The Christian Science Monitor)

The Christian Science Monitor - Iran reacted angrily Tuesday to charges from the United Nations nuclear watchdog that it was hindering an investigation of its nuclear programs by blocking experienced inspectors, and limiting access and design information.

How the major stock indexes fared Tuesday (AP)

AP - Stocks closed lower Tuesday following new worries about Europe's debt problems. News reports said European banks may have more risky government debt on their books than was disclosed during "stress tests" earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.

The Treasury's New Research Office (BusinessWeek)

BusinessWeek - Don't expect an Elizabeth Warren-style campaign for the first director of the Office of Financial Research, yet another agency set up under the financial system overhaul. Unlike the pending decision over who will lead the Consumer Financial Protection Bureau, which has prompted online petitions and a viral rap video in support of the Harvard law professor, the competition over who will be the head of the research office is a wonks-only affair. ...