IBT Staff Reporter

Lockheed Martin Corp, the Pentagon's biggest supplier, on Wednesday said it had detected a previously unknown vulnerability in the Adobe Reader software, but its information systems were never breached.

THQ Inc cut its fiscal third-quarter sales forecast by 25 percent as the game maker said one of its products was not selling as well as expected, and its shares fell in after-hours trading.

Nokia is to sell its luxury subsidiary Vertu, as the Finnish handset manufacturer overhauls its business in an effort to compete with other smartphone makers, the Financial Times reported on Thursday.

BP was hit with five more safety citations from the U.S. government on Wednesday, while it also received the latest legal salvo from a major contractor, as it continues to deal with fallout from last year's massive oil blowout in the Gulf of Mexico.

Private equity firms, facing shrinking asset values and tough financing conditions, are trimming staff in mature markets, but are also looking to hire in growth areas so that they deliver the returns investors seek.

France and Germany are to sound out conservative European leaders on Thursday about their plan to defuse the euro zone's debt crisis, eager to rally support before a high-stakes EU summit.

The United States is looking into allegations that the electronic book industry has violated antitrust law, a top Justice Department official said on Wednesday.

The Obama administration said on Wednesday it will keep the pressure on two big U.S. banks to help more troubled borrowers from losing their homes by withholding payments to the banks under a foreclosure-prevention program for the third straight quarter.

Pessimistic comments from EU paymaster Germany and new figures exposing deepening stress among Europe's banks dented financial market hopes of a turning point in the euro zone's debt crisis at a summit this week.

The United States and Canada have agreed to speed up food and other cargo shipments across their border and to sync some regulations related to drugs and cars, U.S. and Canadian officials said on Wednesday.

Some members of the G20 group of major economies are jointly urging European policy makers to resolve the region's sovereign debt crisis as quickly as possible, Canadian Finance Minister Jim Flaherty said on Wednesday.

Canadian imams plan to condemn the misguided notion of so-called honor killings in their Friday sermons this week, responding to the high-profile trial of a father accused of murdering his three teenage daughters, allegedly because they shamed his Afghan family.

Media companies McClatchy Co and Media General Inc, which are seeing their focus on online content starting to pay off, are speeding up their investments in digital media.

Hopes the euro zone will figure out a solution to its ongoing debt crisis inspired enough buying to push stocks to a third day of gains on Wednesday in light trading.

The Obama administration said on Wednesday it will keep the pressure on two big banks to help ease the foreclosure crisis, withholding payments to them under a foreclosure relief program.

There will be no Google Wallet on Verizon’s upcoming smartphone Galaxy Nexus as the largest U.S. wireless service provider has blocked the mobile-payment application because of the security concerns.

Italy's new Prime Minister Mario Monti, trying to push through a tough austerity package he says is vital for the country's financial salvation, faced two calls for national strikes and saw a dip in his public support on Wednesday.

Members of Boeing Co's biggest labor union began voting on Wednesday on a four-year contract extension, which if ratified could end the planemaker's dispute with the National Labor Relations Board and ensure the upcoming version of the best-selling 737 narrowbody will be built in Washington state.

Brewing giant Heineken is linking with social networking website Facebook to boost its global digital marketing, with the first fruits of the partnership being an online campaign aimed at making responsible drinking cool.

J.C. Penney Co Inc took a stake in Martha Stewart Living Omnimedia Inc and plans to open Martha Stewart shops within its stores, in the first big deal announced by its new chief executive as he tries to turn the department store chain around.

EU antitrust regulators are set to accept concessions offered by International Business Machines Corp and end an antitrust investigation, averting a possible fine, this month, two sources familiar with the matter said on Wednesday.

AT&T Inc plans to forge ahead with its deal to buy Deutsche Telekom's U.S. wireless unit despite fierce regulatory opposition, and it has the financial resources to close the acquisition quickly, a top executive said on Wednesday.

Megabus announced on Twitter they are giving away 200,000 free express bus tickets with a promotional code. Hurry and book now before they're gone!

Stocks were little changed in choppy, light trading on Wednesday as investors weighed high expectations about an upcoming euro zone summit against headline-driven selling.

Treasury Secretary Timothy Geithner spoke with ECB President Mario Draghi and IMF Managing Director Christine Lagarde by telephone on Wednesday during a whirlwind round of diplomacy ahead of an EU summit, a U.S. Treasury official said.

The U.S. offshore drilling safety agency on Wednesday issued five more citations against BP for its oil spill in the Gulf of Mexico last year.

Stocks were little changed in choppy, light trading on Wednesday as investors weighed high expectations about an upcoming euro zone summit against headline-driven selling.

Citigroup began a round of layoffs among its London-based investment bankers this week, with jobs in advisory, equities and fixed income set to go as the bank readies 4,500 redundancies worldwide.

Congressman Barney Frank on Wednesday asked his colleagues to hold a hearing on alleged mortgage abuses at Ally Financial, a day after the attorney general from his home state of Massachusetts requested that lawmakers investigate.