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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.

Cumberland Farms put giant photo cutouts of David Hasselhoff in front of their stores across New England and Florida. The 60-year-old star of Baywatch and Knight Rider is shown smiling, wearing a tank top and promoting iced coffee. Of 570 photos, roughly 550 have been stolen.

Oregon residents are being asked to contact police if they see a 30-foot tall gorilla — wearing sunglasses and polka dot shorts. He's carrying a hot tub, and may or may not be inflated. The giant gorilla stood for four years on top of the Spas of Oregon store in Gladstone.

Gambling houses have placed odds on who might become the next leader of the Catholic world. At the top of the list of frontrunners are men not from Europe.

While the financial world keeps grappling with losses, the industry's leaders have raked in annual pay raises averaging nearly 12 percent. The Financial Times found JPMorgan Chase CEO Jamie Dimon was among the top earners, with a pay package of more than $23 million last year. That's an 11 percent increase over the previous year.

A new burger in Britain is topped with chillies that pack 40 times the heat of the average Tabasco sauce. The Fallout Burger is on sale at Atomic Burger in Bristol. It registers a million on the Scoville Scale which scientists use to determine chili heat.

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.

Before the next drawing, on Saturday night, experts say the lottery could top $1 billion.

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.

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.