IBT Staff Reporter

Hawker Beechcraft Inc, the aircraft manufacturer owned by Goldman Sachs Group Inc's private equity arm and Onex Corp , is preparing to file for bankruptcy protection in the next several weeks, according to several people familiar with the matter.

Regulators need to crack down on auditors who fail to warn investors and the public before corporations fail, investors told the main watchdog for U.S. auditors on Wednesday.

Hedge fund managers are increasingly nervous about getting a knock on the door from securities regulators now that a new rule requires them to register as investment advisers and provide lots of data about their inner workings as a result.

An MF Global executive, who has emerged as a central figure in the desperate shifting of funds before the brokerage's collapse, refused to answer questions on Wednesday, frustrating lawmakers probing why more than $1 billion in customer money is missing.

Daniel Loeb, chief executive of hedge fund Third Point, said he would continue to push to revamp Yahoo Inc's board of directors following Yahoo's decision to reject him as a board member.

Stocks declined on Wednesday as sliding oil and metals prices gave investors a reason to sell commodity-related shares.

Google proposed to pay Oracle a percentage of Android revenue if Oracle could prove patent infringement of the mobile operating technology at an upcoming trial, but Oracle rebuffed the offer as too low, according to a court filing late on Tuesday.

Crude futures fell on Wednesday as a jump in crude inventories in the United States and the prospect of a release of U.S. and some European strategic reserves sent oil prices into retreat.

A finance executive at MF Global Holdings Ltd invoked her right against self-incrimination as lawmakers heard from officials who played critical roles in the final days of the futures brokerage, when a huge and still unexplained shortfall in customer money surfaced.

Social-networking site Facebook is halting the sale of its shares on secondary markets effective next week as the company prepares to hold its initial public offering in May, according to a person familiar with the matter.

European carmaker Opel avoided conflict with the unions on its board on Wednesday, preferring to return to the negotiating table rather than ram through thousands of job cuts in Germany and Britain.

Bank of America Corp Chief Executive Officer Brian Moynihan made $8.1 million in total compensation last year, more than four times the $1.9 million he received in 2010, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.

A finance executive at MF Global Holdings Ltd invoked her right against self-incrimination as lawmakers heard from officials who played critical roles in the final days of the futures brokerage, when a huge and still unexplained shortfall in customer money surfaced.

Oil prices fell on Wednesday as a big rise in U.S. crude inventories and the prospect the United States and some European nations might tap strategic reserves sent futures into retreat.

New orders for long-lasting U.S. factory goods increased only modestly in February, supporting the view that economic growth in the first quarter could be lackluster.

Maybe Lord Voldemort put a spell on Amazon.Com Inc.

Daniel Loeb, chief executive of hedge fund Third Point, said he would continue to push to revamp Yahoo Inc's board of directors following Yahoo's decision to reject him as a board member.

Former MF Global Holdings Ltd Chief Executive Jon Corzine assured JPMorgan Chase & Co shortly before his brokerage firm collapsed that it had ample funds to cover overdrafts, a lawyer for the bank is expected to testify.

Shares of Amylin Pharmaceuticals Inc rose as much as 51 percent on Wednesday after Bloomberg News reported the company rejected a $3.5 billion unsolicited takeover bid from Bristol-Myers Squibb Co .

Stocks were flat on Wednesday as a weaker-than-expected reading on durable goods orders offset hopes that high oil prices could fall, removing a headwind to the economic recovery.

China's vice premier promised Apple Chief Executive Officer Tim Cook that the country would boost intellectual property protection, state media said on Wednesday, in Cook's second day of meetings in the company's biggest potential market.

The board of European carmaker Opel met on Wednesday under pressure from parent General Motors to put an end to years of steep losses, with thousands of workers in Germany and Britain fearing the closure of their plants.

China's vice premier promised Apple Chief Executive Officer Tim Cook that the country would boost intellectual property protection, state media said on Wednesday, in Cook's second day of meetings in the company's biggest potential market.

New orders for long-lasting factory goods rose less than expected in February and a gauge of future business investment also fell short of forecasts, casting a shadow on the manufacturing sector's support of the recovery.

A group spear-headed by former basketball great Earvin Magic Johnson agreed to buy the Los Angeles Dodgers baseball team for a record $2 billion, team owner Frank McCourt announced on Tuesday, capping a two-year drama that started with McCourt's divorce and wound its way through bankruptcy court.

Stock index futures pointed to a flat open on Wednesday, cutting earlier gains after a weaker-than-expected reading on durable goods orders.

U.S. stocks opened flat Wednesday after durable-goods rose less than expected in February and a key barometer of future business spending missed estimates.

New orders for manufactured goods rose less than expected in February and a gauge of future business investment also fell short of forecasts, Commerce Department data showed on Wednesday.

MF Global's North America chief financial officer plans to tell lawmakers on Wednesday that she desperately sought fund transfers to cover the customer account shortfall in the final hours before the firm's collapse, but that some banks would not execute them.