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Yahoo Inc. has rebuffed an unsolicited $44.6 billion takeover offer from Microsoft Corp., an offer Yahoo said "substantially undervalues" the company. Microsoft is now expected to sweeten its bid, which valued Yahoo stock at $31 a share.

Yahoo is rejecting an unsolicited $44.6 billion offer from Microsoft. But it remains to be seen whether Yahoo shareholders will support a management decision to snub the software giant's bid.

As a debate over the firing of eight U.S. attorneys unfolds, White House officials may be subpoenaed by Congress, and more e-mail related to the case is likely to be made public.

Bush set a 2025 target date for the U.S. to slow growth of greenhouse gas emissions, but remains leery of any plan that would hurt economic growth.

Delta and Northwest's merger would create the world's largest airline in terms of traffic. But there is still a lot to be worked out. Regulators and shareholders need to be convinced. And Northwest's pilots union is saying it will do everything it can to block the deal.

A year ago, California voters rejected Arnold Schwarzenegger's vision for the state's future by defeating his entire slate of referenda. He then apologized for battling with nurses, police officers and teachers, not to mention assorted Democrats in Sacramento. Now Schwarzenegger's back on top.

Doctors are leaving private practices in large numbers and going to work for hospitals. Last year, hospitals hired half of the new doctors just out of medical school. Hospital administrators say having more doctors improves care.

Enron's former finance chief, Andrew Fastow, is sentenced to six years with an additional two years under supervised release. Fastow had worked out a plea deal with prosecutors back in 2004 under which he agreed to a prison term of up to 10 years. However, Fastow asked Federal Court Judge Kenneth Hoyt for a shorter sentence.

Merrill Lynch, the world's largest brokerage, says its chief executive, Stan O'Neal, has retired, effective immediately. Alberto Cribiore will lead the search for O'Neal's replacement.

Former FEMA Director Michael Brown blames Homeland Security Secretary Michael Chertoff and other top agency officials for the inadequate response to Hurricane Katrina. Brown testified Friday before the Senate Homeland Security Committee.

The New Yorker's classical music critic answers questions about his job and his daily routine.

A new National Intelligence Estimate concludes that al-Qaida and the home-grown cells that claim allegiance to it pose a greater threat to the United States than they have in several years.