IBT Staff Reporter

High oil prices are a threat to the global economic recovery and present a challenge the world will have to face over the long term, the International Energy Agency's chief economist said on Wednesday.

Stock index futures pointed to a flat open on Wednesday as continued high oil prices offset strong labor market data a day after a heavy sell-off.

In a statement that is bound to trigger a three way war, fire-brand pop star Pink has tweeted a feisty response to Christina Aguilera's arrest for public intoxication, also dragging in Britney Spears' name.

As Charlie Sheen makes an impactful land on the 'Twitterverse', the users of the microblogging site, Tweeps, are not so kind to the embattled 'Two and a Half Men' star.

Stock index futures were slightly higher on Wednesday, stabilizing a day after a surge in oil prices led to a heavy sell-off.

U.S. Rep. Rush Holt of New Jersey has defeated IBM supercomputer Watson in a Jeopardy-style match held in Washington.

Stock index futures were slightly higher on Wednesday, stabilizing a day after a surge in oil prices led to a heavy sell-off.

The Norwegian Nobel Committee on Tuesday announced that it has received valid nominations of 241 different individuals and organizations for the Nobel Peace Prize for 2011.

Forest Laboratories and Nycomed A/S said the US Food and Drug Administration has approved Daliresp (roflumilast) oral tablet to treat chronic obstructive pulmonary disease (COPD).

A new website providing all the latest official information on the upcoming wedding of Britain's Prince William to girlfriend Kate Middleton was launched on Wednesday.

The United States Drug Enforcement Administration (DEA) said it has temporarily banned five chemicals used to make so-called fake pot products, perceived as legal alternatives to marijuana.

Asia-focused bank Standard Chartered <2888.HK> met expectations with a 19 percent rise in profits and said it was off to a record start this year as China, India and other Asian markets boomed.

The rancor over bank bonuses means investment bankers across the globe are now getting a higher level of fixed pay but industry groups in Europe still feel their financial sector is facing much tougher rules than the rest of the world.

With anti-secrecy site WikiLeaks, and social media platforms Twitter and Facebook in the running, Internet dominates the race for Nobel Peace Prize 2011.

Apple boss Steve Jobs was denied an honorary knighthood in 2009 because he turned down an offer to speak at the Labour Party conference, the Daily Telegraph reported.

Technology giant Google on Tuesday said that it is using a tricycle with a 360-degree mounted camera to get images of its least accessible places on Earth.

Yahoo Inc is in advanced talks to leave its Japanese joint venture in an effort to sort out its dysfunctional Asian partnerships and free up as much as $8 billion to fight Google and Facebook.

Asia-focused Standard Chartered Bank Plc met earnings expectations, reporting a 52 percent rise in second-half net profit amid strong growth in emerging markets.

The drivers won't take action towards reducing gas consumption and exiting lease contracts until gas reaches $4 per gallon, according to a report from nation's most popular online car leasing marketplace LeaseTrader.com.

U.S. stock index futures pointed to a flat open on Wall Street on Wednesday following the previous session's sell-off, with futures for the S&P 500 up 0.02 percent, Dow Jones futures down 0.01 percent and Nasdaq 100 futures up 0.05 percent at 3.16 a.m. EST.

Costco Wholesale Corp posted a 16 percent jump in quarterly profit, boosted by strong sales during the holiday season and higher gasoline prices.

U.S. market regulator said former Goldman Sachs Group Inc and Procter & Gamble Co board member Rajat Gupta tipped Galleon hedge fund founder Raj Rajaratnam in phone calls about confidential company information. Gupta's lawyer said the allegations are baseless.

A case that came up for hearing before the U.S. Supreme Court, involving Stanford University and Swiss pharmaceutical giant Roche, is expected to clarify a landmark intellectual property rights law that lays down the rules for grant of patents for federally funded inventions.

More than a year after igniting the tablet computing craze, Apple Inc prepares to unveil the second version of its blockbuster iPad -- possibly minus lead showman Steve Jobs.

Former Goldman Sachs Group Inc director Rajat Gupta leaked secret details to Galleon Group hedge fund manager Raj Rajaratnam about Warren Buffett's plan to invest $5 billion in the Wall Street bank at the height of the financial crisis, a U.S. securities regulator charged.

Tata Steel, the world's No. 7 steelmaker, has raised its stake in Riversdale Mining to more than 27 percent, making it harder for miner Rio Tinto to seal its $3.9 billion bid for the Mozambique-focused coal miner.

Oil rose toward a 2-1/2 year high and stocks fell on Wednesday as investors shunned risky assets on concern that escalating tension in Libya would spread in the Middle East and disrupt fuel supplies.

Oil rose toward a 2-1/2 year high and stocks fell on Wednesday as investors shunned risky assets on concern that escalating tension in Libya would spread in the Middle East and disrupt fuel supplies.

U.S. auto sales surged by 27 percent in February, exceeding the most bullish analyst forecasts as the lure of discounts from automakers led by General Motors Co outweighed concerns about higher oil prices for car shoppers.