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US unemployment continues to climb

Almost 6 per cent of the American workforce is currently without a job, official data published on Thursday shows

Nintendo faces legal action over Wii game

A US technology company has taken legal action against Nintendo for allegedly violating patents with its Wii console

Electric Olympics give GE a surge in power

Draw of Michael Phelps at prime time in the US has helped General Electric reap the benefits of Olympic television rights

Lehman to announce $3bn writedowns

Wall Street braces itself for surging losses as analysts predict Lehman Brothers will reveal bigger losses than expected

Lehman Brothers 'facing further $3bn write-down'

Concerns come amid reports that the bank is planning to sell off a stake in its successful fund management business

Fannie and Freddie hit on bailout fears

Wall Street concerned after US report claims the Treasury privately believes both companies will fail to raise new capital

Eyes on the Fed at annual symposium

Fed Chairman Ben Bernanke seems intent for now to leave interest rates and wait to see how much more damage the economy will sustain

BAE Systems wins US Air Force deal

BAE Systems has been named as one of the 12 prime contractors allowed to pitch for contracts from the US Air Force

Merrill Lynch charges losses to British arm

The group will avoid UK tax for 60 years by charging $29bn losses to its British arm and has announced a hiring freeze

Sterling suffers longest run since 1975

The pound fell against the dollar for the eleventh day in a row as concerns mounted over Britain’s faltering economy

The holiday is over for cheap travel abroad

The dollar's rapid rise could spell bad news for UK manufacturers as commodity prices, priced in dollars, remain high

Wachovia plans $9 billion repurchase

The move by the fourth-largest US bank will make it the fifth big bank this month to agree to help to stabilise the debt market

Lehman in $40bn real estate talks

Wall Street investment bank is understood to be in talks to sell its entire real estate portfolio in a move to stem losses

BA and AA pave way for supercarrier

Airlines ask regulators for antitrust immunity to allow combined route networks, pricing, sales, marketing and purchasing

Cuomo pursues Merrill in auction-rate probe

New York’s attorney general says Merrill Lynch’s offer to buy back $10bn of these bonds from clients is insufficient

US inflation hits highest point in 17 years

At the same time, separate data shows the number of households sinking into foreclosure process rose by 55% in July

Wal-Mart gains from US shoppers trading down

World's biggest retailer boosts profits in the face of rising fuel and food prices after targeting the wealthy

Credit Suisse fined on both sides of Atlantic

Financial Services Authority and New York Stock Exchange both take action against bank for breach of stock market rules

Roche Holding offer rejected by Genentech

The San Francisco-based drug maker has rejected an offer by its majority shareholder, but said it would consider any sweetened bid

KKR paid deal makers $1.3bn

The US private equity firm's owners received the bulk of the so-called distributions from the group’s investment profits