IBT Staff Reporter

Standard and Poor's cut its long-term debt rating on Sony Corp on Wednesday to BBB+, warning it may drop the consumer electronics giant a further notch within a year unless it shows it can achieve a significant turnaround in profitability.

The euro was at eight-week high and European shares rose on Wednesday on hopes that a deal on a second bailout for Greece was close, shrugging off data illustrating the damage the debt crisis has done to the region's economy.

Asian shares hit their highest level in more than five months on Wednesday and the euro hovered close to an 8-week high as investors kept hopes alive for an agreement on details of a new Greek bailout package despite further delays.

Rick Santorum has won the Colorado caucuses, completing a superbly improbable sweep of the three states that voted Tuesday night. He also won the Minnesota caucuses and a nonbinding Missouri primary.

The continuing decline in earnings has mainly been attributed to currency fluctuations and the rising interest costs. Also, all the major mobile phone service providers in the country are engaged in a bitter tariff war.

Customers of MF Global's broker-dealer unit say at least $120 million in insurance policies for the company's executives should instead go toward filling a massive hole in their accounts.

Taiwan computer maker Acer Inc has sued its former chief executive, Gianfranco Lanci, saying he breached a non-compete clause in an agreement covering his departure from the company in 2011.

Chevron Corp and eight other corporations were sued by shareholders on Tuesday for adopting a bylaw that requires common types of shareholder lawsuits be brought exclusively in Delaware's Chancery Court.

The three to four percent hike marks the first in the country in the last 10 months.

Congress made a mistake when it stripped away most of the Securities and Exchange Commission's authority to police the holding companies of broker-dealers for risks, according to the SEC's newest commissioner.

A federal judge on Tuesday granted CVS Caremark Corp a temporary restraining order allowing it to keep selling controlled prescription drugs at two Florida pharmacies at the center of raids by the U.S. Drug Enforcement Agency.

The California State Teachers' Retirement System, the second-largest largest pension fund in the United States, wants Facebook Inc to expand its board of directors and diversify a panel that has no women.

Country singer Randy Travis has switched into sorry mode after being arrested for public intoxication in Texas -- and he blames the incident on his overenthusiasm for Sunday night's big game.

The Voice has signed Christina Aguilera for a third season as NBC considers launching that season in the fall instead of waiting until 2013, TheWrap has learned.

Think that politics already resembles pro wrestling a little too much? Just wait until Dwayne The Rock Johnson gets his way.

Ashton Kutcher turned 34 on Tuesday, and he's asking for fans' help to make his birthday wish come true -- to end child sex trafficking and exploitation.

Walt Disney Co's quarterly revenue fell short of Wall Street's expectations after the movie studio put in a poor showing, as the largest U.S. media corporation searched for new ways to grow its struggling ABC television unit.

Renesas Electronics Corp, Fujitsu Ltd and Panasonic Corp are in talks to merge their chip operations, four sources familiar with the matter told Reuters on Wednesday.

A broad settlement with major banks over mortgage servicing abuses that would bring relief to distressed U.S. homeowners could be announced as early Thursday, two people familiar with the matter said.

Oil field services company Halliburton plans to stop issuing BlackBerry smartphones to employees and switch over to Apple's iPhone, which it said was better suited to its needs, marking another setback for Research In Motion.

Rick Santorum is poised to place first or second in Colorado, Minnesota and Michigan on Tuesday night. Could that put him ahead of Newt Gingrich as the anti-Romney candidate?

NBC's The Voice earned big numbers in its Monday night debut, providing a powerful lead-in for new musical drama Smash, which scored strong but less-impressive premiere ratings. The Voice was the top-rated and most-watched show of the night, bumping the typical top dog, CBS's Two and a Half Men, and guiding NBC to an overall ratings win.

There's a new Diana Krall album out, though it has Paul McCartney on vocals and his name on the cover. This is all a good thing. All right, so that's a severely reductive way to describe McCartney's fine new album of old standards, Kisses on the Bottom.

Amazon.com Inc is about to announce a Web video deal with Viacom Inc in what sources said was one of the last steps in a plan to launch a standalone subscription service to compete with Netflix Inc.

Amazon.com Inc is about to announce a Web video deal with Viacom Inc in what sources said was one of the last steps in a plan to launch a standalone subscription service to compete with Netflix Inc.

Struggling PC chipmaker Advanced Mico Devices Inc said senior vice president and chief sales officer Emilio Ghilardi was leaving the company with immediate effect.

Roseanne Barr's bid to become the President of the United States has taken a step forward.

Junie Hoang, the actress suing the Internet Movie Database (IMDB) for revealing her age, will see her day -- and perhaps two days -- in court next year.

The Denver Broncos say there will be no Tebow-ing anytime soon on Dancing With the Stars, despite current champ J.R. Martinez's report that quarterback Tim Tebow might want to compete.