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Stocks jumps on strong data ahead of Fed statement

U.S. stocks rose broadly on Wednesday on positive economic data and ahead of a Federal Reserve statement on interest rates and the economy that is expected to keep government support in place.

Merck, Schering-Plough set to complete merger

Merck & Co and Schering-Plough Corp said their $41.1 billion merger will be completed later on Tuesday, marking the close of the second huge deal in the pharmaceutical industry in recent weeks.

Slowdown pressures entire auto sector

The global meltdown and resulting implosion in vehicle sales over the past year have pressured everyone in the automotive sector, creating opportunities for some players while leaving others subject to bankruptcy, consolidation or concessions.

Republicans win Virginia, New Jersey governorships

Republicans rolled to victory in Virginia and New Jersey governor's races on Tuesday in a sharp blow to Democrats that showed the limits of President Barack Obama's political clout.

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Comcast quarterly profit rises

Comcast Corp's quarterly profit rose 22 percent as customers signed up for additional phone and Internet services, helping the top U.S. cable operator fight competition from phone and satellite operators.

U.S. planned layoffs fall for third month in Oct

Planned layoffs at U.S. firms fell for a third straight month in October to a 19-month low, feeding hopes the labor market will continue to improve as economic activity rebounds.

Abdullah rules out joining new Afghan government

Technocrats and some existing ministers will be included among Afghan President Hamid Karzai's new government within the next three weeks, a spokesman said on Wednesday, but his main rival ruled out taking any part.

U.S. 30th in global infant mortality

The United States ranks 30th in terms of infant mortality, an important measure of the quality of healthcare, according to a report released on Tuesday.

Proposed law would require pay for sick workers

U.S. employers who tell workers to stay home when they are sick will have to give them paid time off for up to five days under new federal legislation proposed on Tuesday.

U.S. mortgage applications up as rates drop below 5 percent

U.S. mortgage applications rose for the first time in four weeks, reflecting a jump in demand for home refinancing loans as interest rates on 30-year loans dropped below 5 percent, data from an industry group showed on Wednesday.

Dollar slips as markets brace for Fed decision

The dollar fell broadly on Wednesday as firmer equity and commodity prices buoyed demand for the euro and perceived riskier currencies, while traders braced for a policy decision from the Federal Reserve.

Steve Martin, Alec Baldwin to host Oscars

Oscar organizers on Tuesday named an unlikely pair of hosts for March's Academy Awards, comedian Steve Martin and 30 Rock star Alec Baldwin, a past loser at the world's top film awards.

Stephen Colbert, fans sponsor U.S. speedskaters

In a move that puts him at the cutting edge of sport sponsorships, comedian Stephen Colbert and his fans will back the U.S. Speedskating team at the 2010 Olympic Winter Games, the talk show host said.

US STOCKS-Futures up ahead of jobs data, Fed statement

U.S. stock index futures rose on Wednesday on an upbeat forecast from carmaker Nissan and a rebound in European banks, ahead of jobs data and the Federal Reserve's statement on interest rates and the economy.

Kirstie Alley takes weight-loss battle back to TV

Kirstie Alley is to parlay her lengthy weight-loss battle into a U.S. TV series for what the actress called in a Tuesday Twitter message a very funny docu about me losing weight, raising unpretentious kids, and biz.

Internet censorship liable to WTO challenge: study

Censorship of the Internet is open to challenge at the World Trade Organization as it can restrict trade in services delivered online, a forthcoming study says.

GM's U-turn on Opel sale sparks German backlash

German politicians seethed and unions tore up a deal to cut costs in protest at General Motors' completely unacceptable decision not to sell Opel, its European unit, after months of painstaking talks.

Stock futures rise ahead of jobs data, Fed statement

Stock index futures rose on Wednesday ahead of key jobs and services sector data, with investors also eyeing the Federal Reserve's statement on interest rates and the economy.

Time Warner profit beats estimates, but raises outlook

Time Warner Inc posted higher-than-expected quarterly profit, and the media powerhouse raised its full-year earnings forecast in a sign that advertising sales at networks like CNN and TBS are showing life.

Fed expected to stay on easy-money path

The Federal Reserve on Wednesday is expected to reaffirm its intention to keep U.S. interest rates at ultra-low levels for a long time to support the economy, even as signs of recovery accumulate.

Oil rises above $80 on crude stocks, dollar

Oil rose above $80 a barrel on Wednesday, extending the previous session's near 2 percent gain, following a U.S. industry report showing an unexpected fall in crude stocks and supported by a weaker dollar.

Playfish sees social games as industry driver

The video games sector has yet to gain from a downturn where consumers stay home to play, but social games creator Playfish says the industry is just beginning a new growth spurt.

Disney takes China stride as Shanghai park gets nod

The Walt Disney Co's breakthrough deal to build one of its signature theme parks in Shanghai marks a major advance for Western media and entertainment firms trying to crack a tough China market.

Asian stocks edge higher ahead of Fed decision

The dollar steadied below a one-month high against a basket of currencies on Wednesday, while Asian stocks edged higher in muted trade ahead of a policy announcement from the Federal Reserve that kept investors wary.

Delphi to form new board on Wednesday: report

Delphi, the auto-parts maker that emerged from a four-year bankruptcy in October, is forming a new board of directors and will name retired Dupont Chief Executive John Krol as its chairman, the Wall Street Journal said.

GM's U-turn on Opel sale irks Germany

General Motors' decision to keep its European arm Opel after months of negotiations to sell it triggered anger and dismay in Germany, which had led the talks and was putting up much of the cash.

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