IBT Staff Reporter

Toshiba Corp said on Wednesday it would close three of its six discrete chip-making facilities in Japan and also trim output of certain types of chips over the year-end as demand for PCs and TVs slides in Europe and the United States.

Dutch cooperative bank Rabobank lost its cherished triple-A rating from Standard & Poor's as the global banking crisis finally caught up with the only bank still holding the top rating.

Stock index futures rose on Wednesday after China unexpectedly cut its banks' reserve requirements in hopes of boosting an economy running at its weakest pace since 2009.

The world's top four audit firms will have to split up and rename themselves under a draft European Union law to crack down on conflicts of interest and shortcomings highlighted by the financial crisis.

China's central bank cut the reserve requirement ratio for its commercial lenders on Wednesday for the first time in nearly three years to ease credit strains and shore up an economy running at its weakest pace since 2009.

Europe faces a crucial 10 days to save the euro zone after agreeing to ramp up the firepower of its bailout fund but acknowledging it may have to turn to the International Monetary Fund for more help to avert financial disaster.

Europe's debt crisis has significantly worsened, threatening global markets, so it is essential to stabilise the region's bond markets, European Central Bank governing council member Christian Noyer said on Wednesday.

For most of the Republican nomination race thus far, Jon Huntsman has been considered little more than a side note. But while his national poll numbers remain very low, he is gaining support in New Hampshire. What are his positions?

There is no quick fix to Europe's debt woes that threaten to escalate into a more widespread credit crunch, Bank of Japan Deputy Governor Kiyohiko Nishimura warned on Wednesday, voicing policymakers' growing concern about the deepening damage from the crisis.

Stock index futures pointed to a weaker open for equities on Wall Street on Wednesday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 0.4-0.7 percent.

Stock index futures pointed to a weaker open for equities on Wall Street on Wednesday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 0.4-0.7 percent.

Oil consuming nations, hedge funds and big oil refineries are quietly preparing for a Doomsday scenario: An attack on Iran that would halt oil supplies from OPEC's second-largest producer.

Banks' contribution to the economy may be hugely overstated, underscoring anger about the scale of taxpayer rescues and resultant government cutbacks, but a sharp retreat of banking worldwide looks painful for all and needs calibrating.

Stocks fell and the euro weakened Wednesday after Standard & Poor's hit some of the world's leading banks with a credit downgrade and euro zone leaders' move to ramp up the regional bailout fund drew a tepid response.

Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.

South Korea's LG Electronics Inc has replaced the head of its home appliances division but kept its mobile chief despite the business posting six consecutive quarters of losses.

Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.

An Australian court on Wednesday reversed a ban on the sale of Samsung Electronics Co Ltd's Galaxy tablet computers in the country, handing it a rare victory against rival Apple Inc in the firms' intensifying global patent war.

An Australian court on Wednesday reversed a ban on the sale of Samsung Electronics Co Ltd's Galaxy tablet computers in the country, handing it a rare victory against rival Apple Inc in the firms' intensifying global patent war.

Samsung Electronics Co is set to resume selling its Galaxy tablet computer in Australia as early as Friday, after the South Korean technology firm won a rare legal victory in a long-running global patent war with Apple Inc.

Jesse Eisenberg brought more attention to the movie Camp Hell than its makers might have wished when he filed a lawsuit against Lions Gate Entertainment and Grindstone Entertainment.

Boeing could be at a disadvantage to Airbus because the bankruptcy of AMR Corp , the parent of American Airlines, places up to $40 billion of jet orders at the mercy of a U.S. bankruptcy court, lawyers and bankruptcy experts said.

An Australian court on Wednesday reversed a ban on the sale of Samsung Electronics Co Ltd's Galaxy tablet computers in the country, handing it a rare victory against rival Apple Inc in the firms' intensifying global patent war.

Goldman Sachs has raised $600 million from clients such as pension funds, wealthy families and large institutions for a new fund that would provide start-up money to hedge-fund managers, the Wall Street Journal said.

Europe's debt crisis threatens to undermine consumer confidence and cut off credit to businesses in the rapidly emerging markets that have been bright spots in an otherwise grim global economy, the head of the World Bank warned on Tuesday.

French bank Societe Generale SA is contemplating the sale of its U.S. asset manager TCW Group, Bloomberg reported citing people familiar with the matter.

The United States and European Union agreed Tuesday to reduce red tape related to cargo security and pledged to work toward tearing down tariffs and regulatory barriers between the world's largest trading partners.

An appeals court on Tuesday struck down a 2009 New York City law imposing a tax on hotel-booking websites such as Expedia Inc and Priceline.com Inc , the latest legal development in a battle playing out in cities across the country.

Janet Yellen, the Federal Reserve's influential vice chair, said on Tuesday the U.S. central bank has room to ease monetary policy further, possibly by providing more information on the path of interest rates.