IBT Staff Reporter

Bank of America Corp is working to improve profits by reducing its number of problem mortgages and cutting other expenses, Chief Executive Brian Moynihan told shareholders on Wednesday.

U.S. House Republicans are mounting a last-ditch effort to influence a corporate whistleblower rule that companies fear will drive cash-hungry tipsters directly to the government, undermining internal compliance programs.

Greek police clashed with stone-hurling youths and thousands protested against austerity in Athens on Wednesday as EU and IMF envoys began talks with the government on stepping up fiscal reforms.

Ubiquisys, a technology start-up backed by Google, will partner with Texas Instruments to develop a new generation of small basestations to help meet demand from surging mobile data consumption.

U.S. stocks faltered on Wednesday after a three-day rally as a strengthening dollar and data showing a rise in U.S. fuel supplies sent crude oil prices lower, hurting energy stocks.

California State University Chancellor Charles Reed told CSU trustees that “there are no good options, only extreme choices” regarding an upcoming budget cut which could total $1 billion.

Police fired tear gas at dozens of youths hurling stones in central Athens on Wednesday and a strike against austerity brought much of Greece to a halt during talks on the next slice of a bailout package.

U.S. exports hit a record high in March, buoyed by the weak dollar and strengthening global demand as U.S. trade returned to levels last seen before the global financial crisis.

It's no secret that President Barack Obama and First Lady Michelle Obama are fans of hip hop and rap music. Just recently Michelle Obama danced the Dougie for her Let's Move initiative.

EU finance ministers will discuss Greece's debt crisis next week but will not decide on new emergency aid until a mission to strike-hit Athens that began on Wednesday gives its verdict on progress on reforms.

Will Smith has parked his two luxury trailers on the street of lower Manhattan where he is currently filming his upcoming movie “Men in Black III,” with his $25k per month rental only a few blocks away.

U.S. exports hit a record high in March, buoyed by the weak dollar and strengthening global demand as U.S. trade returned to levels last seen before the global financial crisis.

Yahoo shares fell as much as 8.6 percent on Wednesday after the controller of Alibaba Group, which includes China's largest e-commerce company Alibaba.com <1688.HK>, took full control of Alipay, a Chinese online payment business.

Sony has repeated its apology for shutting down of PlayStation Network after it got hacked and hackers stole user information possibly including names, emails and credit card numbers 3 weeks ago. Meanwhile, PSP and PlayStation3 users still cannot use PlayStation Network.

Visa Inc, the world's largest credit and debit card processing network, is building a digital wallet that people can use to pay for things online or with their phones instead of with traditional cards.

Top hedge fund founder and stock trader Raj Rajaratnam was 'expressionless' in a New York federal court on Wednesday as a jury verdict was read finding him guilty of 14 charges, including insider trading.

Galleon Group hedge fund founder Raj Rajaratnam was found guilty of 14 securities fraud and conspiracy charges on Wednesday, in a vindication for the government's use of aggressive tactics in prosecuting insider trading on Wall Street.

Xbox stands to gain little in the wake of the Sony PlayStation Network outage according to industry experts.

Bristol Palin denies rumors of aesthetic plastic surgery and amps up for new reality show to air on the Biography Channel.

U.S. stocks faltered on Wednesday after a three-day rally as falling crude prices hurt energy stocks and disappointing Disney earnings dragged down the Dow industrials.

Raj Rajaratnam, the head of one of Wall Street's largest hedge funds was found guilty on all charges on Wednesday, after a jury delivered its verdict after nearly two weeks of deliberation.

This week's cover story of OK! Magazine dons a photo of Katie Holmes with the words Yes, I'm Pregnant loudly displayed on the page.

Long Island Rail Road to and from Penn Station will continue to be disrupted till Friday morning, May 13.

Medtronic Inc named a top executive of General Electric Co's healthcare division as its CEO and chairman, effective June 13.

Navy officials have retracted guidance that would have allowed chaplains to perform weddings for same-sex couples in some states. The retraction follows expressions of outrage by some members of Congress at the release of an April 13 memo on don't ask, don't tell repeal training.

U.S. exports set a record in March, buoyed by the weak U.S. dollar and strengthening global demand as U.S. trade flows returned to levels last seen before the global financial crisis.

Macy's Inc reported a higher quarterly profit and said it expects a continued upswing in sales and profits for the rest of 2011, reflecting the improving fortunes of middle-class shoppers, its core customers.

Crisis management experts say Sony has failed to pacify its users with an acceptable response to the PSN outage.

Two Swedes have been jailed for life in the Philippines for violating human trafficking laws by running a live Internet porn operation in a southern city that catered to foreigners.