IBT Staff Reporter

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Strike deadline looms at Macy's New York flagship

Workers at four New York City area Macy's Inc stores, including its Herald Square flagship, could strike late on Wednesday for the first time since 1972 should they fail to get a new contract from the department store chain.

Wall Street tumbles after two-day rally

Stocks sank on Wednesday as Greek debt woes, U.S. data and disappointing profit forecasts fueled bearish sentiment, putting the market back on its downtrend after a two-day rally.

Blackstone sued over 2007 Extended Stay buyout

Blackstone Group LP was sued for allegedly siphoning $2.1 billion from Extended Stay America Inc when it sold the hotel chain in a leveraged buyout that preceded its bankruptcy, according to court documents.

Wednesday Books Blog Report: Plato's Hot on the Web

Apparently, classical Greece and its traditions of philosophy and democracy, are alive and well with Athens' citizens, although the state is still searching for Plato's philosopher-king, one blogger writes of today's protests outside the Greek Parliament.

Industrial output edges up in May

U.S. industrial output edged up just 0.1 percent in May as supply chain disruptions from the earthquake in Japan disrupted auto production for a second straight month, the Federal Reserve said on Wednesday.

Kim Clijsters Withdraws From Wimbledon

Kim Clijsters, the second-ranked women's tennis player in the world, had to withdraw from this month's Wimbledon tournament due to a recurring foot injury.

Pandora shares soar in market debut

Pandora Media Inc opened 25 percent above its $16 IPO price per share in its stock market debut on Wednesday as investors flocked to get a piece of the latest Internet start up, even though it has yet to turn a profit.

Instant view: Industrial output edges up in May

U.S. industrial output edged up just 0.1 percent in May as supply chain disruptions from the earthquake in Japan disrupted auto production for a second straight month, the Federal Reserve said on Wednesday.

Rich world economy prospects darken: Reuters poll

The rich-world's economic prospects have darkened slightly, a Reuters poll of economists showed, with new signs of a slowdown in the United States compounding fears about the poor fiscal health of Western economies.

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