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The Brazilian state oil company has a new chief executive and her name is Maria das Gracas Foster. Petrobras is the world's fifth-largest oil producer, and Foster becomes the first woman to run a top-five oil company. This comes as the firm looks to double its production by 2020. The company's stocks surged on news of the appointment.

Stocks in Japan and Australia hit highs not seen in more than four years after Tuesday's big rally on Wall Street. The benchmark Dow Jones Industrial Average hit an all-time high — topping a record set in the fall of 2007, just before the financial crisis hit.

In Erie, Pa., firefighters rescued a cat and the woman who tired to get it out of a tree. Stuck in the top branches was Tara Dennis, according to the Erie Times-News.

The Global Language Monitor's Top Word of 2014 is not a word, it's an emoji of a heart. The company says the spread of pictures in place of words reflects a broader transformation of English.

While eating M&Ms recently, Will Cutbill tried stacking them on top of each other. He became determined to break the Guinness record. Hours later he did it by stacking five M&Ms.

NPR's Eric Weiner reports that Japan's worst economic downturn since World War II has radically changed expectations of young college graduates. In years past, the country's corporate giants would go to the top schools and actively recruit new employees, who generally were given jobs for life. Now it is the students who are chasing employers. And many of them are not finding jobs. Some have given up on full-time employment and simply bounce from one part-time job to another while living with their parents.

Southern California Edison, one of California's cash-strapped electric utilities, defaulted to some of its creditors today. It failed to repay, at least temporarily, a 596-million-dollar wholesale electricity bill. The move brings the company a step closer to bankruptcy. The utility said the action was necessary to allow it to continue operations while state and federal officials seek a regulatory solution to California's power crisis. The state, meanwhile, declared another top level power emergency today, citing a shortage of natural gas needed to generate electricity. Scott Horsley reports.

Noah Adams talks with reporter Tom Gibb about a massive fire which has crippled an enormous 40-story offshore oil rig located 75-miles off Brazil's Atlantic coast. Officials are trying to prevent a spill of the 400,000 gallons of oil on board. The rig may sink within 48 hours. Three explosions on Thursday damaged a pillar supporting the rig; the explosions killed one worker and left nine others missing and presumed dead. The offshore rig was Brazil's top oil producer in the rich Campos Basin.

Paul Bremer, the top U.S. civilian administrator in Iraq, visits the northern Iraqi city of Mosul in his first official visit outside of Baghdad since arriving in the country last week. Bremer denies reports that the United States plans to postpone the formation of an interim Iraqi government, but does not give a firm date for its creation. Hear NPR's Guy Raz.

Paul Bremer, the new U.S. civilian administrator for Iraq, arrives in Bagdhad as part of a broad shake-up in the U.S. reconstruction team. Moving out of the country are four top U.S. administrators amid charges that the team has been too slow restoring basic services and has failed to ensure security. NPR's Guy Raz reports.