IBT Staff Reporter

Former U.S. Open champion Venus Williams withdrew from the last grand slam of the year on Wednesday, revealing she is suffering from an autoimmune disease.

New IMF chief Christine Lagarde's call to recapitalize European banks by force struck a nerve among the continent's Europe's policymakers and showed she is not afraid to challenge her former peers as many feared she might be.

U.S. retailers should report higher monthly sales in August, even though consumer confidence sagged and Hurricane Irene disrupted shopping along the East Coast during a key back-to-school weekend.

Actor Mel Gibson will pay the mother of his 22 month-old daughter $750,000 and get joint custody of the child, ending a bitter custody and financial dispute that badly damaged his Hollywood career.

Oscar-nominated Actor Robert Downey, Jr., star of the Iron Man movies, and his wife Susan are expecting their first child together, his spokesman told Reuters on Wednesday.

A re-edited version of reality TV show The Real Housewives of Beverly Hills will premiere on September 5 with a new introduction covering the suicide of cast member Taylor Armstrong's estranged husband, Bravo said on Wednesday.

After a summer filled with superheroes, apes running amok and trash-talking comedians, Hollywood's upcoming fall movies focus less on effects-filled blockbusters and more on performance-driven films.

Irish singer Sinead O'Connor, well known for creating controversy and raising eyebrows, has revealed her sexual frustration in a series of blog and Twitter posts, much to the amusement of her followers.

The Venice film festival promises a pop superstar and a whiff of scandal Thursday, with Madonna presenting her second feature and Roman Polanski notable by his absence at the world premiere of his new picture.

Cher took to Twitter to defend her son Chaz Bono's decision to compete on Dancing With the Stars, after some fans hit the show's Web site and other blogs and message boards to protest the the casting of the singer's son on the show.

AT&T CEO Randall Stephenson appeared on cable television early on Wednesday to tout his $39 billion deal to buy T-Mobile USA and how it could bring back 5,000 jobs to the United States from overseas once done.

Oscar-nominated actor Robert Downey Jr. and his wife Susan Levin are expecting their first child together.

Facebook is putting finishing touches to new features on users' home pages that deeply integrate music services from partners including Spotify, MOG, Rhapsody, Slacker and Rdio, according to people familiar with the plans.

The rivalry between two of the biggest names in the multi-trillion dollar global bond market, Bill Gross and Jeffrey Gundlach, has gotten more than just personal - after one appears to have claimed he was asked to take the other's job.

China's factory activity rebounded a touch in August from a 28-month trough, but tight monetary policy at home and torpid demand abroad has dimmed chances for a sustained recovery.

The United States could be worse than 40 other countries when it comes to infant mortality.

The International Monetary Fund has estimated European banks could face a capital shortfall of 200 billion euros ($287 billion), a European source said on Wednesday.

Microsoft allegedly tracks the location of its mobile customers even after users request that tracking software be turned off, according to a new lawsuit.

Groupon spends millions of dollars enticing new subscribers, but the largest daily deal company wants to slash that cost to zero in less than three years, a big part of its quest for profitability, according to two people familiar with the company.

Research In Motion's head of developer relations, Mike Kirkup, has resigned, the latest in a string of departures as the BlackBerry maker seeks to claw back ground lost to Apple and Google.

Sony's hopes of dominating consumer electronics once again with its new tablets suffered a crushing blow on Wednesday from analysts and gadget reviewers whose first impressions were overwhelmingly bad.

Software maker Openwave Systems filed a complaint against Apple and Research In Motion on Wednesday, alleging infringement of five of its patents relating to mobile Internet technology.

Bank of New York Mellon Corp said Robert Kelly, who has held the company's top job since 2008, has stepped down as chairman and chief executive officer, following differences in approach to managing the company.

Bank of New York Mellon Corp said Robert Kelly, who has held the company's top job since 2008, has stepped down as chairman and chief executive officer, following differences in approach to managing the company.

Stocks closed out the worst month in more than a year on an up note on Wednesday, with sharp gains in the last several days still not enough to repair the damage from a U.S. credit downgrade and fears of a slide back into recession.

Forget for a moment who deserves to be crowned the bond king. For the past year and more, Jeffrey Gundlach has beaten the pants off Bill Gross.

Factory activity in the U.S. Midwest slowed just a bit in August and private employers continued to hire despite extreme financial market turmoil, easing fears the economy would fall back into recession.

Another next-generation iPhone has reportedly gone missing.

Wednesday morning, a suspicious package was found in the mail room of at Scott Air Force Base in Illinois, sending three service members who handled it to hospitals.The incident started a little after 9 a.m. in building 1650, and the discovery prompted a temporary closure of parts of the Air Force Base.