IBT Staff Reporter

Stocks skidded on Wednesday as more weak economic data cemented fears the U.S. recovery was running out of steam and prompted Wall Street firms to slash forecasts ahead of the closely watched payrolls report on Friday.

Marathon Oil Corp will buy oil and gas properties in Texas' Eagle Ford shale field $3.5 billion from private equity firm KKR and Hilcorp Resources Holdings LP, the companies said on Wednesday.

The adoption of AMOLED into the iPad 3 is now unlikely, as the display provider and the tablet producer have turned their once friendly relationship to heated pending court cases.

Shares in struggling mobile phone handset maker Nokia Oyj jumped on Wednesday in reaction to a web site report that said U.S.-based Microsoft Corp had struck a deal to buy its mobile phone business for $19 billion.

Microsoft Corp has told chipmakers who want to use the next version of Windows for tablet computers, to work with only one manufacturer speed up the delivery, Bloomberg said, citing people with knowledge of the matter.

Bombardier Inc reported a 13 percent rise in first-quarter profit, helped by strength in both its plane- and train-making divisions, and said demand for business jets was beginning to pick up.

Bubble Wrap maker Sealed Air Corp said it will buy privately held cleaning products maker Diversey Holdings for $2.9 billion in cash and stock, to enter the chemical cleaning and hygiene industry.

A number of reports announced that Patrick Dempsey will be leaving Grey's Anatomy after next season.

To buy or not to buy? Owning a timeshare is a big investment in both time and money. Make sure you know the good and bad before you buy a home away from home.

The PPR Corporate Foundation for Women’s Dignity & Rights Joins the Gucci Tribeca Documentary Fund in Announcing the Inaugural Recipients of the $50,000 Spotlighting Women Documentary Award.

The pace of growth in the manufacturing sector slowed more than expected to its lowest level in more than 1-1/2 years, according to an industry report released on Wednesday.

Space travel has always been risky, but few realize just how numerous--and at times odd--the threats can be.

The Heat are looking to get off to a better start than 2006, where they lost the first 2 games. Miami looks good so far winning the first Finals game in 2011. Both teams were locked in a close game until the final minutes when the Heat pulled away winning 92-84 to take game 1 of the best of 7 series. Wade's string of defensive plays and 3 pointer surged a fourth quarter Heat run that was enough to knock out the Dallas Mavericks in the final minutes.

Airbus expects to bag more sales in 2011 than last year due to a revamped airplane model and should see a similar proportion of cancellations as in 2010, Chief Operations Officer Fabrice Bregier said on Wednesday.

German health officials say 16 people have been killed in the country so far by an E.coli outbreak. Officials have yet to figure out the source of the outbreak.

Greece has to cut through a thicket of outdated regulations and labor laws if its ambitious privatisation drive is to raise anything near the sums needed to avoid default and jump-start its ailing economy.

General Motors Co on Wednesday said total vehicle sales in May fell slightly from a year ago as sales of its Chevrolet brand, including its top-selling Silverado pickup truck, fell 3.5 percent.

SAC Capital Advisors LP faces an insider trading probe from the U.S. Securities and Exchange Commission related to the $15 billion takeover of biotechnology firm MedImmune Inc, the Wall Street Journal reported, citing people familiar with the matter.

The fate of same-sex marriage in New york now rests on 8 senators who are undecided on the issue.

With the cost of oil at over $100 per barrel, it is imperative to find ways to cut costs on utilities. This is true for not only homeowners, but business owners alike. One way of doing so is by performing an energy audit. There are firms that will review your current utility bills to identify the most cost effective solutions for your facility. Firms like New Source Energy Group, Inc.

Bombardier Inc reported a 13 percent rise in first-quarter profit as demand for business jets begins to pick up, and said it had received more orders for its new C-Series commercial jetliners, slated to hit the market in 2013.

Dollar General Corp missed Wall Street profit expectations after taking markdowns to clear slow-selling apparel out of its stores, sending shares down about 5 percent.

Chinese computer maker Lenovo Group Ltd's has agreed to buy German electronics retailer Medion AG for around $900 million, boosting its market share in Europe.

Stocks fell on Wednesday as another round of weak economic data cast doubts on the strength of an economic recovery.

'Born This Way' has sold over 1 million copies since its release last week

Secretive North Korea is scouring its universities for computer prodigies to send overseas for training as part of a plan to expand its cyber warfare unit, a defector said on Wednesday, underscoring the increased risk of cyber attacks.

Department store operator Macy's Inc posted a 7.4 percent increase in May at stores open at least a year, beating analysts expectations and sending its shares up more than 2 percent.

Even as the Japanese electronic giant promises the long-waited return of PlayStation Network (PSN) by June 5, Sony's nightmare does not seem to end. A group of hackers have just warned an imminent attack on Sony.

Highlights from Rio Fashion Week