BP plays blame game on oil spill responsibility (Reuters)

Reuters - BP Plc and its Gulf of Mexico oil well partners traded blame on Wednesday after an internal BP investigation tried to downplay the company's role in the world's biggest offshore spill.

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.

ND PSC approves selling renewable energy credits (AP)

AP - North Dakota regulators on Wednesday endorsed most of an Xcel Energy Inc. plan for selling its renewable energy credits and sharing the money with its electric customers in the state.

Google seeks to speed up Web searches (Reuters)

Reuters - Google Inc's search engine now displays results before users finish typing.

Spartech posts fiscal 3Q loss, misses expectations (AP)

AP - Plastic sheet and packaging maker Spartech Corp. reported a net loss for its fiscal third quarter on Wednesday and said that despite higher revenue, the overall market recover is slower than expected.

Obama firm, won't yield on tax hike for wealthiest (AP)

AP - Politically weakened but refusing to bend, President Barack Obama insisted Wednesday that Bush-era tax cuts be cut off for the wealthiest Americans, joining battle with Republicans — and some fellow Democrats — just two months before bruising midterm elections.

More stimulus needed for economy: Geithner (Reuters)

Reuters - Treasury Secretary Timothy Geithner said on Wednesday the United States needed more incentives to stimulate job growth and bolster a slow recovery from a "savage" recession.

Wall Street climbs in low-volume session (Reuters)

Reuters - Stocks rose on Wednesday as investors latched onto positive news out of Europe in the latest in a string of low-volume sessions suggesting little confidence in market direction.

Coffee hits 13-year high; retail prices also up (AP)

AP - Coffee prices hit a 13-year high Wednesday, extending a rally that has sent prices up about 43 percent in the past three months.

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

AP - General Motors' new CEO told employees that the automaker needs to make cars and trucks that are better than those of competitors such as BMW.

Crisis CEOs Sullivan and Peek find new jobs (Reuters)

Reuters - Two former chief executives who were criticized during the financial crisis for driving their firms to the brink have found new homes.

A look at economic developments around the globe (AP)

AP - TOKYO — Japan's machinery orders, a key gauge of future business investment, rose the most in seven months, a sign that companies are more confident in the economic recovery.

Bankers urge government to pull plug on Fannie, Freddie (Reuters)

Reuters - The federal government should take mortgage finance giants Fannie Mae and Freddie Mac off life support sooner rather than later, the Mortgage Bankers Association urged on Wednesday.

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.

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.

Europe bank fears hit shares (Reuters)

Reuters - Asian stocks fell on Wednesday, led by shares in Japan's big exporters as a rise in the yen to a new 15-year high threatened to erode their overseas earnings.

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. ...