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Toyota lowered its global vehicle sales target for next year as it is now more cautious about prospects for auto demand in the U.S., Europe and Japan amid the gloomy global economic outlook.

Sony unveiled new flat-screen LCD televisions that are thinner and display sharper images than before as it gears up for what is expected to be another tough holiday season.

Fannie Mae shook up its top ranks, announcing its chief business officer and two others are leaving as it moves to save capital. Shares surged 15%.

China and Iraq have signed a $3 billion deal revising an earlier agreement for China's biggest oil company to help develop the Ahdab oil field.

Tropical Storm Gustav swirled toward Cuba after triggering flooding and landslides, and its death toll rose to 22 in the Caribbean. The tentative forecast track pointed toward the U.S. Gulf coast, including Louisiana. FEMA officials were ramping up preparations in case it builds as predicted into a major hurricane.

French investment bank Natixis swung to a near billion-euro loss and confirmed it seeks a more risk-averse strategy for the entire group, becoming one of the biggest French victims of the credit crisis.

A federal judge ruled that video-sharing service Veoh Networks isn't liable for copyright infringement for material that was uploaded to its Web site, dismissing a 2006 case filed against it by Io Group, an adult-entertainment production company.

The credit crunch squeezing U.S. auto makers is spreading to some of their dealers. GMAC stopped financing for a large Chevrolet dealer.

The SEC kicked off a process that could ultimately require all American companies to follow international accounting standards.

American workers' confidence in the job market is as low as it was during the 2001 recession, according to a new survey.

Biden accepted the Democratic vice presidential nomination, empahsizing his foreign-policy experience and his record on crime and women's issues in a bid to draw voters to the ticket.

A growing number of record companies are starting to think Apple's iTunes service is crimping overall sales.

World-wide spending on servers is showing signs of slowing down as manufacturers resort to price cuts.

Security contractor MVM has lost the bulk of a CIA contract in Iraq after failing to provide enough armed guards.

CBS is launching a new version of its CNET.com Web site this week, providing a glimpse at how it hopes to integrate CNET Networks.

Starbucks CEO Schultz and other top managers will not get salary increases next fiscal year, according to an internal memo, reflecting the coffee chain's effort to rein in spending.

Microsoft took the wraps off the latest Internet Explorer browser, unveiling new features designed to improve user privacy and security as the software giant battles Firefox.

After passing a U.S. Navy review, Lockheed Martin is closing in on delivering a new warship that will be a milestone in the defense contractor's expanding foray into shipbuilding.

Bank of America has agreed to buy back $43 million in auction-rate securities from government agencies in Massachusetts.

Obama formally won the Democratic nomination, making him the first African-American presidential nominee. The delegates were electrified again when former President Bill Clinton took the stage. He has been parsimonious in his support of Obama but left no doubt about his views today. "I am here first to support Barack Obama," he said.