IBT Staff Reporter

Portugal's government blamed higher rates paid at a debt auction on Wednesday on the opposition's refusal to back its latest austerity plans, warning a political standoff could force it to seek a bailout.

Four Morgan Stanley Smith Barney branch managers left in the past few days, part of an exodus that began when Morgan Stanley gained control of Citigroup's Smith Barney brokerage arm in 2009 and began consolidating branches.

Manchester United boss Sir Alex Ferguson has been handed a five match suspension and a £30,000 fine for the comments he made about referee Martin Atkinson after his side's 2-1 loss at Chelsea earlier this month.

Indian security agencies are not satisfied with a plan offered by Research In Motion for them to have access to data on its BlackBerry Messenger services, junior Telecoms Minister Sachin Pilot told parliament on Wednesday.

Producer prices surged in February at their fastest pace in 1-1/2 years, data showed on Wednesday, a day after the Federal Reserve said it had a watchful eye on inflation pressures it expects to subside.

Top mobile telecom equipment makers joined automakers in warning of a damaging supply squeeze as the impact of Japan's devastating earthquake spreads, adding to fears for a sector hampered by shortages.

Yuri Milner, who has invested hundreds of millions of dollars in Facebook, Zynga and Groupon, said on Wednesday exits by founders of companies should be a cue for investors to do the same.

Oil rose 2 percent on Wednesday as escalating violence in the Middle East raised concerns about crude supplies, countering the wave of risk aversion sparked earlier this week by Japan's nuclear crisis.

Former Goldman Sachs Group Inc computer programer Sergey Aleynikov has lost his bid to reverse his December conviction for stealing the Wall Street bank's source code.

Producer prices surged in February at their fastest pace in just over 1-1/2 years, pointing to a build-up in pipeline inflation pressures from soaring food and energy costs.

U.S. stocks sank for a third day on Wednesday as worries about Japan's nuclear crisis escalated, and analysts saw more volatility ahead for the market.

The Gold Price ticked higher in London trade on Wednesday, holding above yesterday's 4-week lows to reach $1400 per ounce, as a rally in Japanese shares failed to prevent further losses in global stock markets.

Social-networking sites such as Facebook, or search engines such as Google, may face court action if they fail to obey planned EU data privacy rules, European Union justice chief Viviane Reding said on Wednesday.

Housing starts posted their biggest decline in 27 years in February while building permits dropped to their lowest level on record, suggesting the beleaguered real estate sector has yet to rebound from its deepest slump in modern history.

Producer prices rose by 1.6 percent in February, as energy and consumer goods saw a strong increase, suggesting building inflationary pressures in the economy.

Oil prices jumped on Wednesday due to escalating violence in the Middle East and worries about oil supply from the region but retreated later on fears Japan's nuclear crisis was spinning out of control.

Netflix is reportedly set to distribute an original series starring Kevin Spacey and directed by David Fincher.

Travel today, from luggage to laptop, is increasingly high-tech. Yet every hotel room hosts a costly anachronism: a traditional telephone.

Stocks edged lower on Wednesday after surging U.S. producer price and weak housing data, while investors were buffeted by Middle East political uncertainty and a nuclear crisis in Japan.

The watchdog panel for the $700 billion bank bailout faulted the U.S. government for the last time on Wednesday, saying the program helped underpin the perception that federal authorities will always prevent troubled financial firms from failing.

Producer prices surged in February at their fastest pace in just over 1-1/2 years, boosted by high food and energy prices, according to a government report on Wednesday that pointed to a build-up in pipeline inflation pressures.

Wall Street was set to open near breakeven on Wednesday following volatile futures trading after surging U.S. producer price and weak housing data, while investors were buffeted by Middle East political uncertainty and a nuclear crisis in Japan.

Oil prices rose by over $2 on Wednesday, with Brent topping $111 a barrel and rebounding from 3-week lows a day earlier as escalating violence in the Middle East renewed fears about oil supply in the region.

Years ago when nude photos of actress Vanessa Hudgens surfaced, she probably thought that nightmare was over. Little did she know those photos would come back to haunt her

Tencent Holdings, China's most valuable Internet company, said it plans to invest heavily in social networking, e-commerce and search, after posting a 46 percent rise in quarterly profit.

After Japan was rocked by a pair of disasters, Apple has announced that it is postponing its Japanese release of the iPad 2.

Apple has deferred the launch of its slimmer, lighter and faster rendition of iPad, the iPad 2, in Japan as the country grapples with massive destruction caused by a 9 magnitude earthquake and tsunami.

Nasdaq OMX Group Inc's possible counterbid for NYSE Euronext faces some big hurdles, including funding a complicated deal and convincing Big Board shareholders that it's better than Deutsche Boerse's offer, experts said.

Rapper Nate Dogg died Tuesday. He was 41. The cause of death is not yet known, but Nate Dogg, whose real name was Nathaniel D. Hale, had suffered strokes in 2007 and 2008 according to People.com.