IBT Staff Reporter

Coming off the success of Midnight in Paris, Sony Pictures Classics has acquired North American and UK rights to Woody Allen's next picture, Nero Fiddled, the company said Wednesday.

With Tilda Swinton having racked up Golden Globe and SAG Award nominations for her role in We Need to Talk About Kevin, distributor Oscilloscope Laboratories has pushed up the New York City release date for the psychological thriller.

Heungkuk Life Insurance Co has withdrawn a $47 million lawsuit against Goldman Sachs & Co over the Timberwolf collateralized debt obligation and will arbitrate the case instead.

Micron Technology posted quarterly results below expectations and said weak prices for DRAM memory chips are making industry consolidation inevitable.

When Bonobos customers logged on to the men's apparel retailer's website late on Cyber Monday, all they saw was a photo of feet with a pair of pants drooped around them.

The AT&T/T-Mobile is the third high-profile merger the U.S. Department of Justice has successfully defeated in 2011.

Al-Jazeera's good year just got a whole lot better.

If you've always wanted to go to the Caribbean, but thought you could never afford it- it's time to rethink with these great budget-friendly accommodations.

Bank of America Corp's Countrywide Financial unit agreed on Wednesday to pay a record $335 million to settle civil charges that it discriminated against minority homebuyers, an historic settlement for the Obama administration in the wake of the subprime mortgage morass.

Activist investment fund Starboard Value has taken a 4.5 percent stake in AOL Inc and is pushing for a meeting with the Internet company's chief executive and the board to address what it sees as strategic failings.

Verizon Wireless said it had fixed a data service problem that started early on Wednesday, the second high-profile service problem this month for the company that boasts it is the most reliable.

Walgreen Co still believes it can succeed even if it stops filling prescriptions for Express Scripts Inc on January 1, and its stance suggests that the odds of the drugstore making up with the pharmacy benefits manager before the end of the year are remote.

Fitch Ratings on Wednesday reiterated the high and rising U.S. federal and government debt burden was not consistent with keeping its AAA credit rating, but said no decision on whether to cut the top level rating is likely to come before 2013.

Saab Cars North America said it hired a financial adviser to administer its operations, after its Swedish parent was declared bankrupt by a court on Monday.

Jefferies Group Inc's profit dropped 23 percent during its fiscal fourth quarter as the investment bank took aggressive steps to reduce risk-taking after MF Global Holdings Ltd's bankruptcy.

KB Home posted a lower fourth-quarter profit on reduced margins, sending shares down as much as 8.5 percent, but said orders for new homes surged and home prices rose in another sign that the beleaguered housing market was gaining a foothold.

Rick Santorum has been a sideshow for most of the Republican presidential campaign. Now, two weeks before the Iowa caucuses, he has nabbed endorsements from two evangelical leaders, Bob Vander Plaats and Chuck Hurley. But is it too little, too late?

Technology shares slumped on Wednesday and pushed the Nasdaq down 1 percent after Oracle reported results that cast doubts on the sector's health, even as broader markets closed mostly flat in a thinly traded day.

Bank of Nova Scotia has applied to re-establish a presence in Cuba and a report says rival Royal Bank of Canada is considering a similar move in the wake of Cuban reforms and a thawing of the country's icy relationship with the United States.

A Canadian charity, appropriately named EARS, is offering to help a Rocky Mountain town deal with its bunny problem, promising to neuter and spay the unwanted rabbits rather than let the city carry out its trap-and-cull proposal.

Imperial Oil Ltd said on Wednesday it will go ahead with an C$8.9 billion ($8.65 billion) plan to double the size of its Kearl oil sands project, even as it said total costs for the massive mining operation have climbed by nearly a quarter.

Current speculation among investors include deals with Dish Network, Sprint Nextel and Clearwire.

Fitch Ratings on Wednesday warned again that the United States' rising debt burden was not consistent with maintaining the country's top AAA credit rating, but said there would likely be no decision on whether to cut the rating before 2013.

Facebook agreed on Wednesday to overhaul privacy protection for more than half a billion users outside North America, after a three-month investigation found that its privacy policies were overly complex and lacked transparency.

On a night with little original programming, NBC's Saturday Night Live special SNL Presents: A Very Gilly Christmas and a repeat of CBS' NCIS: Los Angeles were the top-rated shows, while NBC took an overall ratings win for the night, according to preliminary numbers.

You better watch out -- because Santa Claus isn't always such a jolly old elf after all. In fact, sometimes he can be a real creep. At least in the movies.

Finance Minister Jim Flaherty imposed what he called a fiscally sustainable formula for increasing federal transfers to the provinces for health care, one that will eventually increase spending by less than the current 6 percent a year.

Don't throw your wallet away yet.Many big-name retailers from Gap to Toys R Us are partnering with banks, payment processors and Google to let shoppers tap their mobile phones instead of swiping their credit cards to pay for goods. But the new mode of payment is not expected to take off in earnest for at least another couple of years.

Thanks to monster hits like The Twilight Saga: Breaking Dawn -- Part 1 and art-house breakouts such as The Artist, many of the major players in the independent film market racked up an impressive year despite the industry-wide box office decline.