LONDON--Inflation in the U.S. needs to climb back toward the 2% target before the Federal Reserve should consider slowing the pace of its asset purchases, a senior Federal Reserve official said Thursday.

HONG KONG�Asian stock markets fell Thursday, with Japan's Nikkei index tumbling the most in two years following a downbeat reading of Chinese manufacturing and signs that the U.S.

China's manufacturing is contracting in May for the first time in seven months, adding to signs that economic growth is losing steam for a second quarter.

PARIS - Christine Lagarde, managing director of the International Monetary Fund, was summoned to testify Thursday about her role in the settlement of a multi-million-dollar business dispute when she was French finance minister in 2008.

LOS ANGELES - The first manned aircraft that can fly day and night powered only by solar energy set a new distance record Thursday when it landed after the second leg of a cross-country US tour.

A report Wednesday on U.S. sales of previously occupied homes in April may show the housing recovery has crossed a critical threshold.

Wed May 22, 2013 11:22am EDT. May 22 (Reuters) - The following is a list of scheduled U.S. agency bill sales from Fannie Mae and Freddie Mac for 2013.

TD, Canada's second-biggest bank by assets, said it's "pleased" with results for the quarter "given the backdrop of low interest rates and slower economic growth.

Ford Motor Co. (F), gaining more U.S. market share than any other automaker this year, will add capacity to build 200,000 more vehicles annually in North America on demand for F-Series pickups and Fusion sedans.

Angelina Zuzuro, 16, of Denville, takes photos near a sign in Seaside Heights, N.J., Saturday, May 18, 2013. (AP Photo). Travel Deals.