IBT Staff Reporter

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Waters recede across East, but storm victims suffer

Floodwaters finally started to recede from areas of the northeast devastated by Hurricane Irene but many communities were still underwater on Wednesday and relief workers battled cut-off roads and raging rivers to deliver emergency supplies.

Wall Street edge up again on stimulus hopes

Stocks edged up slightly on Wednesday as another round of soft economic data supported a growing belief the Federal Reserve would take new steps to stimulate growth, but tech stocks struggled.

Pfizer, Dr. Reddy's settle Lipitor patent battle

Pfizer Inc reached a settlement with Dr. Reddy's Laboratories , an Indian drugmaker that has been fighting in court to launch cheaper generic forms of Pfizer's blockbuster cholesterol fighter, the companies said on Wednesday .

American Officials Aided Gadhafi: Al Jazeera

A producer with Al Jazeera gained access to a demolished Libyan building filled with documents showing Libyan leaders maintained direct communications with influential figures in America.

NDP gains support after leader's death

Canada's left-leaning New Democratic Party has vaulted into a tie in public support with the governing Conservatives in the wake of the death of NDP leader Jack Layton, a poll released on Wednesday showed.

Canada Q2 economy shrinks, 1st time since recession

The Canadian economy shrank in the second quarter, its first quarterly fall since the 2008-09 recession, with temporary factors such as Japan's earthquake and tsunami playing a big role, Statistics Canada said on Wednesday.

IBM buys British security analytics firm i2

IBM has agreed to buy British security analytics software firm i2 for an undisclosed sum, it said Wednesday, as it continues to devour companies that can help its clients deal with growing mountains of data.

Motorola deal offers Google tax, patent benefits

- Google Inc's blockbuster acquisition of Motorola Mobility Holdings Inc will bring an unusual stable of tax and accounting benefits to the search-engine giant, already one of Corporate America's most savvy users of such perks.

Stocks edge higher after PMI data

Stocks added to earlier gains on Wednesday, with the S&P 500 up 1 percent, after an index of factory activity in the U.S. Midwest fell in August, though the figures still pointed to growth in the sector.

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