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JPMorgan Chase becomes the second major US bank to report a big rise in profits for the April to June period.

The government says retail sales advanced in June by the largest amount in five months, led by a surge in gasoline prices and a slight rebound in the battered auto sector.

Goldman Sachs earned second-quarter profits of $3.44 billion, continuing a robust turnaround since it rode out the tumultuous final months of 2008 with the help of a federal rescue.

The number of newly laid-off workers filing initial claims for jobless benefits last week fell to lowest level since early January, largely due to changes in the timing of auto industry layoffs.

Slower rate suggests some parts of the housing market could be stabilizing, index shows.

GE said it will open a manufacturing-technology center in Michigan that will eventually employ more than 1,100 workers.

A severe U.S. recession will bottom out this year, but any recovery will be weak due to anemic markets and shrunken consumer wealth, the Organization for Economic Cooperation and Development said on Wednesday.

The Green Bay Packers haven't been sacked by the recession despite a rough season on the field and significant financial challenges off it, but officials remain wary of the future.

The total number of people on the unemployment insurance rolls has dropped for the first time since early January, while first-time claims for benefits rose slightly.

With the wiring of nearly $10 billion to the Treasury, U.S. Bancorp and BB&T became the first large financial institutions to announce that they have repaid the government in full.