Obama seeks corporate tax rate cut, loophole limit (AP)

AP - President Barack Obama rolled out a corporate tax overhaul plan Wednesday that lowers rates but also eliminates loopholes and subsidies cherished by the business world. A long-shot for action in an election year, the plan nevertheless stamps Obama's imprint on one of the most high-profile issues of the presidential campaign.

Immigration chief seeks to reassure Silicon Valley (AP)

AP - The Obama administration's top immigration official said Wednesday he wants to keep more foreign-born high-tech entrepreneurs in the U.S. But to make that happen, he said he needs those entrepreneurs to turn their creativity to immigration itself.

Congressional offices receive mailed threats (AP)

AP - Some congressional offices have received threatening letters containing a "suspicious powdery substance," the Senate's top law enforcement officer said Wednesday.

Judge strikes down law mandating sale of contraception (Reuters)

Reuters - A federal judge ruled on Wednesday that Washington state cannot require pharmacists to dispense emergency contraceptives if to do so violates their religious beliefs.

Texas man gets life in prison in torture case (AP)

AP - A Texas man who tortured his former neighbor while holding her captive nearly two weeks was sentenced Wednesday to life in prison.

Newark mayor: NYPD Muslim files 'deeply offensive' (AP)

AP - The mayor and police director of New Jersey's largest city said Wednesday the New York Police Department misled their city and never told them it was conducting a widespread spying operation on Newark's Muslim neighborhoods. Had they known, they said, they never would have allowed it.

Poll: Obama benefitting from improving economy (AP)

AP - President Barack Obama is reaping political benefits from the country's brighter economic mood. A new poll shows that Republicans and Democrats alike are increasingly saying the nation is heading in the right direction and most independents now approve the way he's addressing the nation's post-recession period.

Scientist admits taking, leaking think-tank papers (AP)

AP - In the field of climate science, when someone — especially skeptics — did something ethically questionable or misrepresented facts, scientist Peter Gleick was usually among the first and loudest to cry foul. He chaired a prominent scientific society's ethics committee. He created an award for what he considered lies about global warming.

Judge says Wash. can't make pharmacies sell Plan B (AP)

AP - Washington state cannot force pharmacies to sell Plan B or other emergency contraceptives, a federal judge ruled Wednesday, saying the state's true goal was to suppress religious objections by druggists — not to promote timely access to the medicines for people who need them.

Virginia lawmakers OK revised requirement for abortions (Reuters)

Reuters - Virginia lawmakers on Wednesday passed a revised ultrasound requirement for women seeking abortions after Republican Governor Bob McDonnell shifted his stance on the measure.

States may tap mortgage money to fill budget gaps (AP)

AP - The ink wasn't even dry on a settlement with the nation's top mortgage lenders when Missouri Gov. Jay Nixon laid claim to a chunk of the money to avert a huge budget cut for public colleges and universities.

Burned before, Fed officials cautious on rebound (Reuters)

Reuters - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed before.

Americans love to hate California: poll (Reuters)

Reuters - California, home of Hollywood, the Golden Gate Bridge and more people than any other state in the union, is also the most disliked of the 50 states, a new poll shows.

Authorities tracing phone of mountain man's family (AP)

AP - Authorities are using a court order to determine if a serial cabin burglar in the southern Utah wilderness is using a cell phone to call his family.

Police: Ga. victims related in Korean spa shooting (AP)

AP - The gunman who fatally shot two of his sisters and their husbands inside a Korean spa in an Atlanta suburb had been asked to leave and came back hours later, authorities said on Wednesday.

Home resales at 1-1/2 year-high, supply falls (Reuters)

Reuters - Home resales rose to a 1-1/2-year high in January, pushing the supply of properties on the market to the lowest level in almost seven years in a hopeful sign for the housing sector.

Police: 2 Ga. children reported missing found safe (AP)

AP - Authorities say they are searching for a man they believe kidnapped two young children after offering help to their mother after the family car broke down along an Atlanta-area interstate.

Man's childhood comic collection fetches $3.5M (AP)

AP - The bulk of a man's childhood comic book collection that included many of the most prized issues ever published has sold for about $3.5 million.

W.Va. mine boss charged with fraud in deadly blast (AP)

AP - Federal prosecutors investigating the West Virginia coal mine explosion that killed 29 men are working their way up the corporate ladder with criminal charges.

Kansas City priest accused of molesting 4 brothers

KANSAS CITY (Reuters) - Catholic leaders in Kansas City covered up years of sexual abuse of several young children by a priest who led a Christian organization for youth, according to a lawsuit filed Wednesday by four brothers who say they were victimized as children. The lawsuit, one of more than two dozen pending in Kansas City alleging abuse by area priests, was filed in Jackson County ...

Dollar rises to 7-month high against Japanese yen (AP)

AP - The dollar rose to a seven-month high against the Japanese yen, a week after the Bank of Japan announced a surprise increase of its economic stimulus program.

Suspect in Capitol bomb sting waives court hearing (AP)

AP - A Virginia man charged with plotting a suicide bombing inside the U.S. Capitol waived his rights Wednesday to preliminary and detention hearings.

U.S. judge orders Moroccan held for Capitol plot (Reuters)

Reuters - A U.S. judge on Wednesday ordered a Moroccan man to be held on charges that he planned a suicide bombing attack against Congress, believing he was working with al Qaeda militants when in fact his contacts were undercover agents.

City overpower holders Porto in Europa League

The presence of former manager Andre Villas-Boas at Eastlands failed to inspire holders Porto as Manchester City eased into the last 16 of the Europa League with a 4-0 second leg win on Wednesday.

City storm on in Europa

Manchester City produced a strong finish to power into the last 16 of the UEFA Europa League at the expense of ten-man holders Porto, winning out 4-0 on the night and 6-1 overall.

City cruise past Porto

Manchester City produced a strong finish to power into the last 16 of the Europa League with a 4-0 victory (6-1 on aggregate) over 10-man holders Porto.

Man City beats defending EL champion Porto 4-0

Manchester City eased past defending Europa League champion FC Porto on Wednesday, beating the Portuguese side 4-0 to wrap up a 6-1 aggregate win. Sergio Aguero opened the scoring after just 19 seconds to stretch City's 2-1 first-leg advantage but the English Premier League leader then had to wait until the 76th minute for its second goal.

'Occupy' to hold national conference in Philly (AP)

AP - A group of protesters affiliated with the Occupy Wall Street movement plans to elect 876 "delegates" from around the country and hold a national "general assembly" in Philadelphia over the Fourth of July as part of ongoing protests over corporate excess and economic inequality.

Summary Box: Bank of England split on stimulus (AP)

AP - STIMULATING DISCUSSION: Minutes of their last meeting showed Bank of England rate-setters were divided about injecting another 50 billion pounds ($79 billion) into the economy. Two members argued for a bigger stimulus.

Private jet shipments slip, but improvement seen (Reuters)

Reuters - Worldwide shipments of business jets and other private aircraft fell again last year, but billings rose modestly in a sign of improvement in a tough economy.

Euro zone teetering on brink of recession (Reuters)

Reuters - The euro zone economy is in danger of tipping into recession, with the services sector shrinking this month along with manufacturing, tempering a wave of optimism after a new bailout deal for Greece struck this week.

U.S. mortgage applications sagged last week: MBA (Reuters)

Reuters - Applications for U.S. home mortgages tumbled last week as demand for loan refinancing sagged, an industry group said on Wednesday.

European budget cuts and debt burdens, at a glance (AP)

AP - European budget cuts and debt burdens, at a glance

In Europe, spending cuts fail to ease debt burdens (AP)

AP - Europe has endured the pain of layoffs, wage cuts and tax increases designed to bring government debt under control.

Bank of England panel split on size of stimulus (AP)

AP - Bank of England rate-setters were divided this month on the vote to inject another 50 billion pounds ($79 billion) into the British economy, with two members arguing that a bigger stimulus was needed, minutes to their last meeting showed Wednesday.

Is It Time to Start Worrying About Inflation Again? (Time.com)

Time.com - The greatest threat to any long-term investor is inflation. It not only erodes the value of stocks and bonds, but also depresses economic growth and misleads policymakers

A Champion in Purgatory: Muhammad Ali Returns to Vegas (Time.com)

Time.com - As part of an extended celebration of his 70th birthday, the ailing legend appears at a massive fundraiser to benefit brain research

U.S. consumer agency to examine bank overdraft fees (Reuters)

Reuters - The new U.S. Consumer Financial Protection Bureau is weighing a crackdown on checking account overdraft fees charged by banks, saying the charges can "inflict serious economic harm" on consumers.

Neb. city's illegal immigration law to be nuisance

A Nebraska city's attempt to fight illegal immigration with a newly court-approved ordinance appears likely to be more of an inconvenience for legal residents than a deterrent to illegal immigrants.

Pace of new credit card accounts picks up in 2011 (AP)

AP - More people opened new credit card accounts last year, as the banking industry began to loosen standards it tightened during the recession.