BANGKOK World stock markets rose Wednesday after Greece indicated a willingness to commit to spending cuts to secure its bailout and moves by Japan's central bank to support the economy lifted its powerhouse export sector.

BANGKOK Oil rose above $101 a barrel Wednesday in Asia as escalating tensions in the Middle East outweighed lingering concerns about Greece's ability to implement austerity measures to resolve its debt crisis.

WASHINGTON Congressional leaders are gauging lawmakers' reactions to a tentative deal extending a 2 percentage-point payroll tax cut and extra jobless benefits through 2012, a pact bargainers reached after House Republicans conceded that the tax cut would not have to be paid for with spending cuts.

TAIPEI, Taiwan American attempts to get major Asian importers of Iranian oil to rein in their purchases are faltering as allies South Korea and Japan give U.S. officials a polite brushoff. Emerging giants India and China may even increase their purchases, further complicating Washington's efforts to force Iran to curtail its nuclear program.

SINGAPORE Global airlines will need $3.5 trillion of new planes through 2030, with more than a third of that demand coming from Asia, Airbus's chief executive said Wednesday.

WELLINGTON, New Zealand A New Zealand court Wednesday halted the first ever sale of dairy farms to Chinese investors, the latest twist in a saga that's dividing a country reliant on agriculture for much of its export earnings.

WASHINGTON The United States and Europe are considering unprecedented punishment against Iran that could immediately cripple the country's financial lifeline. But it's an extreme option in the banking world that would come with its own costs.

CANBERRA, Australia Australian lawmakers on Wednesday narrowly approved tax hikes for the wealthy that will help the government meet its pledge to deliver a budget surplus next year.

WASHINGTON The maker of the widely prescribed cancer drug Avastin is warning doctors and patients about counterfeit vials of the product that have been distributed in the U.S.

BANGKOK Asian stock markets rose Wednesday, swayed by a late-day rally on Wall Street, after Greece indicated a willingness to commit to spending cuts demanded by lenders in exchange for a bailout vital to the country's solvency.

WASHINGTON Treasury Secretary Timothy Geithner told Congress Tuesday that the president's new $3.8 trillion spending plan would impose new taxes on only 2 percent of the nation's wealthiest families and the alternative would be to seek more painful cuts in other government programs such as defense, Social Security and Medicare.

GETTING BETTER: An FDA official says a severe shortage of key childhood cancer drug methotrexate should ease before hospitals' dwindling supplies run out in a couple weeks.

FORT WORTH, Texas Flight attendants and ground workers marched in picket lines Tuesday to protest American Airlines' plans to outsource jobs and cut pay and benefits under a bankruptcy reorganization.

OMAHA, Neb. Warren Buffett's company boosted its already sizeable stake in Wells Fargo & Co. last year and sold shares of Johnson & Johnson and Kraft Foods, according to documents the company filed Tuesday with the Securities and Exchange Commission.

COLUMBUS, Ohio A Chicago doctor who prosecutors say dispensed more of the powerful painkiller oxycodone from 2003 to 2005 than any other physician in the country was sentenced Tuesday to four life terms in the overdose deaths of four patients.

AKRON, Ohio Goodyear Tire & Rubber Co. returned to profitability in its fourth quarter partly as it sold more higher-priced tires after reporting a loss a year ago that included hefty costs tied to a plant closing.

NEW YORK Despite Avon Products Inc.'s efforts to revive its business, the beauty products seller posted a fourth-quarter net loss as sales fell, costs rose and it marked down the value of a silver jewelry company acquired in 2010.

LOS ANGELES Whitney Houston's career is getting a post-mortem boost, but it isn't likely to be as big as the one that enriched the King of Pop's estate after his death.

WASHINGTON Capital One has won approval to acquire ING Direct for $9 billion, clearing the way for it to become the nation's fifth-largest bank.

LOS ANGELES Whitney Houston's career is getting a post-mortem boost, but it isn't likely to be as big as the one that enriched the King of Pop's estate after his death.

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NEW YORK The stock market rallied in the last half-hour Tuesday, seizing on reports that suggested the unraveling Greek debt talks might be saved after all. Stocks finished flat after languishing in the red for most of the day.

DETROIT Toyota's strong start to 2012 got a boost from a market it has long avoided: rental-car companies.

GREECE IS STILL THE WORD: The stock market languished for most of Tuesday, weighed down by news that Greece's debt talks were on the verge of breaking down the country's economy shrank 7 percent in the fourth quarter. Stocks rallied in the final 20 minutes after a report indicated Greece's conservative party leader could help clear the way for spending cuts that lenders are demanding.

NEW YORK Troubles in Europe and a weak retail sales report pushed Treasury prices higher Tuesday.

Stocks were down for most of Tuesday, then rallied in the final minutes of trading after a news report indicated Greece's conservative leader could commit to spending cuts that lenders are demanding. Indexes closed little changed on the day.

WASHINGTON Defense Secretary Leon Panetta and the nation's top military leader on Tuesday defended the Pentagon's slimmed-down, $614 billion budget, telling lawmakers it's time to show Congress is serious about reducing the deficit.

VALLEY FORGE, Pa. Pennsylvania's eleventh slot-machine casino is scheduled to open for business in suburban Philadelphia next month.

TARNISHED METALS: Metals fell as questions surfaced about Greece's ability to uphold austerity measures and resolve its debt crisis. Metals were also hurt by a weaker-than-expected report on U.S. retail sales.

Metals prices fell Tuesday as questions surfaced about Greece's ability to uphold new austerity measures and resolve its debt crisis.

WASHINGTON Treasury Secretary Timothy Geithner told Congress Tuesday that the president's new $3.8 trillion spending plan would impose new taxes on only 2 percent of the nation's wealthiest families and the alternative would be to seek more painful cuts in other government programs such as defense, Social Security and Medicare.

NEW YORK The dollar is at a three-month high against the Japanese yen after the Bank of Japan said it would increase its economic stimulus program. Traders also bought the dollar after euro zone finance ministers canceled a meeting to discuss giving Greece a second bailout.

BRUSSELS Two steps forward, one step back. So goes the frenzied effort across Europe to bail out Greece and save it from a potentially devastating default on its debts.

ATHENS, Greece Greece's economy remained stuck in a deep recession in the fourth quarter, according to official figures released Tuesday that confirm the painful effects of austerity reforms intended to lower debt.

HARTFORD, Conn. State lawmakers and film industry leaders are urging Gov. Dannel P. Malloy and the legislature to continue supporting and promoting the Connecticut film industry.

WASHINGTON President Barack Obama said Tuesday he's hopeful Congress will renew a 2-percentage-point cut in the payroll tax before it lapses at the end of the month, but said it's important to also renew jobless benefits for millions of the long-term unemployed as well.

MOSCOW The editor of Russia's leading independent radio station said Tuesday that its management is being changed in an effort to restrict on-air criticism of the government ahead of the March 4 presidential election.

HONOLULU An Air Canada flight has landed in Vancouver - four hours later than scheduled because the plane returned to Honolulu for an emergency landing.

MONTPELIER, Vt. Vermonters who drive electric vehicles now have another location where they can charge their cars and it's free for the first year.

DETROIT Toyota's strong start to 2012 got a boost from rental-car sales, a market it has avoided in the past.

NEWARK, Del. The head of the Philadelphia Federal Reserve Bank warned Tuesday against efforts to accelerate the nation's economic recovery, citing the threat of inflation.

NEW YORK Shares of Michael Kors Holdings Ltd. soared as much as 25 percent early Tuesday after the luxury company said its fiscal third-quarter earnings rose 40 percent and revenue rose 68 percent, results that beat Wall Street expectations.

NEW YORK Late payments on mortgages ticked up in the last three months of 2011, the second straight quarter-to-quarter increase after nearly two years of steady decline.

NEW YORK US airlines saw a sharp drop off in the number of long delays and canceled flights in December, as mild weather helped get passengers to their destinations on time through the peak holiday travel season.

LAGOS, Nigeria The waters off West Africa's coast are now a constant danger for those shipping goods and crude oil in the region, analysts said Tuesday, a day after pirates killed two sailors near Nigeria's coast.

ST. LOUIS Anheuser-Busch says it will invest between $70 million and $80 million to increase production capacity at its Metal Container Corp. subsidy in the St. Louis suburb of Arnold.

CHARLESTON, W.Va. West Virginia officials are launching a project to help homeowners get relief stemming from a nationwide mortgage settlement.

NEW YORK Solar panel manufacturers will have a hard time boosting revenues this year with Germany cutting government incentives at a time when the market is flush with supply, industry analysts believe.

NEW ORLEANS A-B Computer Solutions Inc. won an $11.4 million, five-year federal contract for computer maintenance and support.

CHINA APPEAL: European Union leaders urged China to open its markets, join in persuading Iran to negotiate over its nuclear program and help end bloodshed in Syria, as they held a summit delayed by Europe's debt crisis.