IBT Staff Reporter

Italian government bond yields eased on Wednesday after the country sold 3 billion euros of five-year debt in the first longer-term auction since the European Union took steps towards greater fiscal integration last week.

Italy paid a euro era record yield of 6.47 percent to sell five-year paper at its first auction of longer-term debt after the EU moved towards greater fiscal integration at last week's summit, but failed to convince markets it can solve the debt crisis.

China pledged to guarantee growth in the face of an extremely grim outlook for the global economy in 2012, rounding off its annual policy-setting conference on Wednesday with a series of commitments to deliver economic stability.

The looming new year may well bring as much financial turbulence as tumultuous 2011 but global investors reckon panic is no longer an option and just protecting your money will require taking on at least some risk.

The euro hit an 11-month low against the dollar and stocks eased on Wednesday after the Federal Reserve warned Europe's sovereign debt crisis could hurt the U.S. economy but failed to signal fresh action to stimulate growth.

Japan's disgraced Olympus Corp ironed out its crooked accounts on Wednesday, unwinding a 13-year fraud to reveal a $1.1 billion dent in its balance sheet and igniting speculation it would need to merge or sell assets to repair its finances.

Online gaming firm Nexon Co slipped on its trading debut on Wednesday following a $1.2 billion IPO, Japan's biggest this year, and may signal a bumpy ride for U.S.-based rival Zynga, which debuts on Nasdaq later this week.

Japan's disgraced Olympus Corp ironed out its crooked accounts Wednesday, unwinding a 13-year fraud to reveal a $655 million dent in its balance sheet and igniting speculation that it would need to merge or sell assets to repair its finances.

China pledged to guarantee growth in the face of an extremely grim outlook for the global economy in 2012, as its annual policy-setting conference closed on Wednesday with a series of commitments to deliver economic stability.

Most Wall Street economists expect the Federal Reserve will undertake another major economic stimulus program, even though the U.S. central bank did not announce any new action at its policy meeting on Tuesday, according to a Reuters poll.

Asian shares drifted lower and the euro idled near an 11-month low on Wednesday after the Federal Reserve failed to take any new steps to stimulate growth and offset the chilling effects of Europe's still-unresolved sovereign debt crisis.

Asian shares drifted lower and the euro idled near an 11-month low on Wednesday after the Federal Reserve failed to take any new steps to stimulate growth and offset the chilling effects of Europe's still-unresolved sovereign debt crisis.

Striking workers at Freeport Indonesia will return to work on Saturday after agreeing to a pay deal to end a three-month dispute that has paralyzed output at the world's second-biggest copper mine, a union official said on Wednesday.

HTC Corp, the world's No.4 smartphone maker, said on Wednesday that a U.S. court has further postponed a final ruling on its lawsuit against Apple Inc, which is seeking a ban on sales of HTC devices in the U.S. market.

China will maintain prudent monetary and proactive fiscal policies in 2012, the official Xinhua news agency said as the country's top economic policy-setting conference closed its annual meeting on Wednesday.

Online gaming firm Nexon Co, an Asian rival to U.S.-based Zynga, slipped lower on its first morning of trading on Wednesday, following its $1.2 billion IPO, Japan's biggest this year.

HTC Corp, the world's No.4 smartphone maker, said on Wednesday that a U.S. court has further postponed a final ruling on its lawsuit against Apple Inc.

A federal appeals court on Tuesday revived a class-action lawsuit against Oracle Corp, basing its ruling on a state court decision that employers in California must pay nonresident workers for overtime work performed in the state.

Online gaming firm Nexon Co, a fast-growing Asian rival to U.S.-based Zynga, opened up slightly at 1,307 yen on its Tokyo trading debut on Wednesday, following its $1.2 billion IPO, Japan's biggest this year.

Ousted Olympus CEO Michael Woodford, who is campaigning to regain his old job at the disgraced Japanese company, said on Wednesday that he wanted no part in breaking up the firm, now struggling to survive a massive accounting scandal.

Three executives in a joint venture of Hitachi Ltd <6501.T> and LG Electronics <066570.KS> have agreed to plead guilty and serve several months in prison for conspiring to fix the prices of optical disk drives, the Justice Department said on Tuesday.

Morgan Stanley agreed to give up insurance claims against MBIA Inc in exchange for a $1.1 billion payment from the ailing insurer, ending a two-year legal fight over guarantees on mortgage bonds.

The United Nations, the International Monetary Fund and 26 other international organizations are pressing the keepers of the Internet to prevent addresses like .un or .imf from being taken by cybersquatters in an upcoming expansion of domain names.

Boardwalk Empire went out with a bang Sunday night -- and not just with the shocking demise of Jimmy Darmody.

British artist Damien Hirst, who sold a collection of works for a record $200 million in 2008, will be display his iconic Spot paintings at Gagosian galleries around the world in January, the gallery said on Tuesday.

For sale: Historical brick home in Los Angeles. Includes a grand ballroom, Tiffany light fixtures, six bedrooms, five baths -- and maybe a body or three in the basement.

Jive Software Inc's shares soared in their market debut as investors look to cash in on the immense popularity of social media offerings on the backdrop of upcoming IPOs like those of Facebook and Zynga.

Michael Jackson's doctor on Tuesday asked for a publicly-funded lawyer to handle his appeal on a manslaughter conviction in the pop star's death, saying he could not afford to pay for one himself.

A man accused of being part of the hacking group Anonymous was arrested on Tuesday on charges of attacking the website of Kiss frontman Gene Simmons.