TOP STORIES: UPDATE: Risk of Global Food Price Inflation Grows on U.S. Drought LONDON--The risk of another wave of global food price inflation is growing fast, Barclays PLC (BCS) said Wednesday, as U.S. grains and soybeans prices trade within touching distance of all-time highs, due to the nation's

The head of the U.S. futures industry's main lobby group on Wednesday backed calls for the business to automate auditing functions after a second scandal rocked the sector in less than a year.

Brazil's telecommunications regulator Anatel has suspended sales by three mobile phone companies in some states because of the volume of customer complaints.

American Express Co.'s (AXP) second-quarter profit was essentially flat as the pace of customer card spending slowed, though it continued to benefit from historically low loan losses.

Yum Brands Inc.'s (YUM) second-quarter earnings grew by 4.8% as improvement in the U.S. supported the fast-food chain's results, though China same-store sales growth continued to diminish.

International companies trading in New York closed higher Wednesday as investors registered a round of upbeat corporate earnings and a strong reading on the U.S. housing market.

Kinder Morgan (KMI) Chief Executive Richard Kinder said Wednesday that the company is seeing delays in getting natural gas liquids from the Eagle Ford shale into pipelines, as producers in the region are facing equipment shortages.

A working group set up by Brazilian mining company Vale SA (VALE, VALE5.BR) and the country's national mining department, or DNPM, has concluded studies to resolve a dispute over back royalties payments, the Mines and Energy Ministry said late Wednesday.

Brazilian mining company Vale SA (VALE, VALE5.BR) said late Wednesday that iron ore production rose 15% in the second quarter from the first three months of the year as weather conditions improved.