EFX :: The England Foreign Exchange

(Reuters) - American International Group Inc has formulated a new "forced ranking" system to determine bonuses and rate employee performance, Wall Street Journal said, citing people familiar with the matter.

WASHINGTON (Reuters) - U.S. economists raised their forecast for economic growth in 2010 in March, the third straight monthly rise, while trimming their growth forecast for 2011, according to a survey released on Wednesday.

SINGAPORE (Reuters) - Oil reversed earlier losses to gain a few cents toward $82 on Wednesday after China said imports jumped in February, boosting evidence that emerging Asian economies will lead global demand back into growth this year.

HONG KONG (Reuters) - Asian stocks hovered near six-week highs on Wednesday as Chinese data showed exports and imports in February were better than expected, while the euro and the pound suffered on renewed concerns about Europe's fiscal problems.

NEW YORK/CHARLOTTE, North Carolina (Reuters) - Bank of America said on Tuesday it will no longer charge overdraft fees on debit card purchases as of this summer, a move that may cost millions in fee income.

DETROIT (Reuters) - Toyota said on Tuesday it would fix all Tundra pickups sold in the United States for the 2000 to 2003 model years to address a risk that part of the truck's frame could corrode, causing spare tires or even the gas tank to drop to the road.

WASHINGTON (Reuters) - Greece, pressing for curbs on financial speculation it blames for worsening the country's debt crisis, said on Tuesday the idea would be examined by the Group of 20 leading powers at their next summit.

NEW YORK (Reuters) - Chevron Corp , the second-largest U.S. oil company, put some of its downstream operations up for sale, including its Pembroke refinery in the UK, and said it would eliminate 2,000 jobs this year.

WASHINGTON (Reuters) - Two Senate Democrats said they will propose on Wednesday placing new limits on proprietary trading by banks and nonbank financial firms, widening the 'Volcker rule' backed by the White House.

NEW YORK (Reuters) - Cisco Systems Inc introduced its first major new routers in six years and said they can be configured to handle Internet traffic up to 12 times faster than rival products.