Business News

NEW YORK, Dec. 12 (UPI) -- Oil prices rose more than $4 to close above $94 Wednesday after a U.S. government report said U.S. crude supplies dropped for a fourth week.

FRANKFURT, Germany, Dec. 12 (UPI) -- The European Central Bank said Wednesday it would make as much as $20 billion in U.S. dollars available to European banks.

MINNEAPOLIS, Dec. 12 (UPI) -- Northwest Airlines Corp. asked a U.S. District Court judge in Minneapolis Wednesday to approve a revised pension plan for its pilots.

NEW YORK, Dec. 12 (UPI) -- Rupert Murdoch suggested removing "Wall Street" from The Wall Street Journal's name to give it broader appeal, a published report in New York said Wednesday.

RESTON, Va., Dec. 12 (UPI) -- U.S. student lender Sallie Mae said Wednesday it did not renegotiate a buyout with an investor group that walked away from its original $25 billion cash offer.

NEW YORK, Dec. 12 (UPI) -- More than 50 percent of Dow Jones & Co. shareholder votes have approved the New York company's sale to News Corp., a published report said Wednesday.

WASHINGTON, Dec. 12 (UPI) -- The U.S. Consumer Product Safety Commission announced the recall Wednesday of 153,000 horseshoe magnets because of a safety hazard.

U.S. stocks soar on central banks' steps ... Fed joins other central banks in loan plan ... Exxon plans natural gas terminal off N.J. ... Murdoch posed removing WSJ's 'Wall Street' ... News from United Press International.

SAN FRANCISCO, Dec. 12 (UPI) -- U.S. investor Warren Buffet criticized Wall Street for "believing its own PR" about the investment vehicles underlying the mortgage foreclosure crisis.

WOONSOCKET, R.I., Dec. 12 (UPI) -- CVS Pharmacy Inc. was fined $226,598 after inspectors found 43 of its stores in the U.S. Northeast changed employee timecards and violated child labor laws.

WASHINGTON, Dec. 12 (UPI) -- The U.S. Federal Reserve and four other central banks Wednesday announced coordinated measures to inject money into global markets to improve their economies.

IRVING, Texas, Dec. 12 (UPI) -- Exxon Mobil Corp. plans to build a $1 billion floating natural gas terminal 20 miles off the New Jersey coast, the multinational U.S. energy giant said.

TAIPEI, Taiwan, Dec. 12 (UPI) -- China Airlines Ltd. said it signed a letter of intent with France's Airbus SAS to buy 14 wide-body A350 planes designed to rival Boeing Co.'s 787 Dreamliner.

SYDNEY, Dec. 12 (UPI) -- Australian share prices fell Wednesday prompted by investors' disappointment at the interest rate decision by the U.S. Federal Reserve.

SAN FRANCISCO, Dec. 11 (UPI) -- JetBlue Airways Corp. became the first U.S. airline to provide free in-flight e-mail and instant messaging Tuesday on a flight from New York to San Francisco.