IBT Staff Reporter

A lawyer for Full Tilt Poker rejected on Wednesday allegations made by federal prosecutors that the company and its board of directors operated the company as a global Ponzi scheme.

The Supreme Court caused an astonishing last-minute delay to Troy Davis' execution on Wednesday, saying it needed time to review his appeal, CNN is reporting.

In an interview with Newsmax, a conservative news magazine, former President Bill Clinton told founder and CEO Christopher Ruddy that Obama’s approach to tackling the deficit was “a little confusing,” and said that President Obama should not increase taxes in this economy.

Lehman Brothers Holdings Inc said it will drop its appeal of a bankruptcy court's ruling upholding Barclays Plc's purchase of Lehman's North American business in 2008 to avoid an unnecessary strain on its remaining assets.

A former securities trader known as Octopussy because of his many sources of information was sentenced to 10 years in prison on Wednesday after being found guilty of insider trading.

The sentencing of Raj Rajaratnam, the prominent hedge fund founder who was convicted in May in a sweeping insider trading prosecution, was postponed to October 13 from next Tuesday.

Developing countries can prepare for the threat of a global recession by improving policies to generate growth and jobs, diversifying economies, bolstering their banking sectors and readying social safety nets, the World Bank's top economists said on Wednesday.

Hulu, the popular online video service which has been put up for sale by its joint owners, now has more than 1 million paying subscribers, Chief Executive Jason Kilar said on Wednesday.

Electronic Arts Inc may never recover its Silicon Valley swagger. But maybe it doesn't have to, its top executive says.

General Motors Co's OnStar may be watching your moves later this year -- even if you no longer subscribe to the service.

Sprint Nextel Corp would need to change its full year guidance for 2011 if the company started selling the Apple Inc iPhone, Chief Executive Dan Hesse said on Wednesday at a conference.

Two police officers in Fullerton, Calif., have been charged in the death of a mentally ill homeless man in California. Manuel Ramos is charged with second-degree murder, and Cpl. Jay Cicinelli is charged with involuntary manslaughter and felony excessive force.

U.S.-based Wyse Technology has rolled out a new version of its PocketCloud application, enabling free sharing of music and videos between consumers' mobile devices.

Hewlett-Packard Co's board convened on Wednesday to consider ousting Chief Executive Officer Leo Apotheker after less than a year on the job and replacing him temporarily with former eBay CEO Meg Whitman, a source familiar with the matter said.

The Federal Reserve on Wednesday moved to counter what it said were significant risks to the U.S. economy with an effort to lower long-term borrowing costs and bolster housing.

R.E.M, once dubbed America's Best Rock & Roll Band, said on Wednesday they decided to call it a day after more than 30 years of generating hits and selling millions of records.

The Federal Reserve on Wednesday ramped up its aid to the beleaguered U.S. economy, launching an effort to put more downward pressure on long-term interest rates and increase its support for housing.

Former Dallas Stars forward Mike Modano, the all-time goals and points leader among U.S.-born players, announced his retirement from the National Hockey League (NHL) on Wednesday after a 21-season career.

Stocks suffered their worst drop in a month after the Federal Reserve said there were significant downside risks to the economy even as it took another stab at boosting growth.

Two Fullerton, California policemen were charged on Wednesday in the death of a homeless, schizophrenic man who was beaten and shocked with a Taser by officers during a confrontation in July.

Air Canada still needs to reach agreements with three of its other unions -- pilots, maintenance workers and dispatchers -- whose contracts have also expired.

The Federal Reserve on Wednesday dialed up its aid to the beleaguered U.S. economy, launching an effort to put more downward pressure on long-term interest rates over time and help the battered housing sector.

Canada's annual inflation rate climbed to a higher-than-expected 3.1 percent in August, but analysts said on Wednesday this was unlikely to worry the Bank of Canada, which is more concerned about problems in Europe and the United States.

NFL was probably not amused by Deon Grant's injury on Monday Night Football and has sent a memo to teams about faking injuries.

Designer clothes owned by Hollywood legend and fashion icon Elizabeth Taylor, including haute couture by Chanel, Yves St. Laurent and Dior, will be sold at auction in New York, Christie's said on Wednesday.

In her first interviews since her husband's suicide, Real Housewives of Beverly Hills star Taylor Armstrong is detailing abuse she claims she suffered from her spouse, including punches, pulled hair and death threats.

A Beatles contract for a 1965 California concert that reveals that the Fab Four refused to play before a segregated audience has sold for $23,033 -- more than four times its estimated price.

Stocks plunged late Wednesday after the Federal Reserve announced it will sell $400 billion worth of short-maturity bonds and reinvest in bonds with maturities of six to 30 years in the coming year. The program has been commonly referred to as Operation Twist.

To legions of teenage girls and fans of the Twilight films, Taylor Lautner will always be known as Jacob Black, the werewolf who competes with a vampire for the love of a young woman.