IBT Staff Reporter

China should hasten the liberalisation of its interest rate market to rein in accelerating inflation in the world's second-biggest economy, a senior Chinese central bank official said on Wednesday.

Allstate Corp has sued Bank of America Corp, its Countrywide lending unit and 17 other defendants for allegedly misrepresenting the risks on more than $700 million of mortgage securities it bought from Countrywide.

Russia is poised to reclaim control of computing by ditching free software but faces obstacles in implementation, says software freedom stalwart Richard Mattew Stallman.

In a reflection of shifting loyalties, India, who had long termed Iran a 'natural partner,' now joined hands with the U.S. on sanctions against the former over its nuclear ambitions.

U.S. stocks were set for a modestly higher open on Wednesday, indicating stocks were on track to extend a December rally as investors remained bullish about the prospects of a global economic rebound in 2011.

McAfee expects Apple’s iPhone, geolocation services such as Foursquare, and mobile devices to be the target of malware attacks in 2011. The computer security company also predicts attackers targeting shortened URL services and internet TV platforms as well as a rise in politically motivated hacktivisim, as more groups are expected to repeat the WikiLeaks example.

9/11, George W Bush, Afghanistan, Iraq, Hurricane Katrina, Recession, Facebook, Unemployment, Barak Obama and You Tube - this almost sums up the whole of the first decade this millennium for the United States. We have put together a series of events that changed your and in fact our lives. Take a short walk... Deep down the memory lane...Try to remember where you were when hell broke loose, joy came knocking on your doorstep. Where were you when politicians lied, slapped taxes, or kept their pro...

Groups including the United Nations, Harvard University, Google Inc and an organization co-founded by actor George Clooney are launching a project using satellites to watch Sudan for war crimes before a vote that could split the African country in two.

China-based Perfect World, an online game developer, has announced the launch of unlimited closed beta testing for Empire of the Immortals, a new MMORPG for the Company's Immortals franchise.

Liberal Democrat leader takes up the role of 'advocate for access to higher education'

2010 will be remembered as the worst year for automobile industry. A number of leading car makers including Toyota, Honda, GM, BMW, Hyundai, Nissan, Ford, Chevrolet recalled lakhs of vehicles because of various defects and safety problems.

SAP AG must pay Oracle Corp prejudgment interest on a recent $1.3 billion copyright infringement verdict, but not at the formula suggested by Oracle, according to a judge's ruling filed on Tuesday.

Google is planning to launch an online applications store offering popular educational software.

U.S. buyout firm Leonard Green & Partners remains keen to acquire warehouse club operator BJ's Wholesale Club Inc and may launch a hostile bid if an auction is not initiated in the coming weeks, the New York Post said, citing sources.

Val Kilmer has to cough up another $500,000 in unpaid taxes to IRS

Allstate Corp has sued Bank of America Corp, its Countrywide lending unit and 17 other defendants for allegedly misrepresenting the risks on more than $700 million of mortgage securities it bought from Countrywide.

Reese Witherspoon and Jim Toth got engaged during the Christmas weekend

Oil steadied above $91 a barrel on Wednesday ahead of U.S. inventory data expected to show a drawdown in crude and distillate stocks due to severe weather in the world's largest oil user.

China will not relax curbs on property speculation in 2011 and will reinforce the implementation of measures to contain rising home prices, domestic media reported on Wednesday, citing Housing Minister Jiang Weixin.

Barnes & Noble Inc lost its bid to dismiss Spring Design Inc's lawsuit accusing the largest U.S. bookseller of illegally copying a screen design for the popular Nook electronic book reader.

Starbucks Corp denied Kraft Foods Inc's claim that the packaged food maker performed exceptionally well under an agreement to sell Starbucks' packaged coffee, court documents showed.

General Motors Co shares rose as much as 3.1 percent and closed 2.1 percent higher on Tuesday after banks resumed coverage of the automaker with high marks for its strong post-bailout balance sheet and its position in emerging markets.

Government support for the housing market should be cautiously withdrawn and not be rushed, Scott Garrett, the incoming chairman of the U.S. House Financial Services subcommittee, told the Wall Street Journal.

Asian shares rose on Wednesday, with Japan's Nikkei maintaining a fourth quarter rally as investors hunted bargains in one of the developed world's cheapest markets, but Australia's main index lagged as bad weather hit shares in mining heavyweights.

Shares of rare earths prospectors soared on Wednesday after China cut export quotas, threatening to reduce already tight global supplies and a risking action from the United States at the World Trade Organization.

Shares of rare earths prospectors soared on Wednesday after China cut export quotas, threatening to reduce already tight global supplies and a risking action from the United States at the World Trade Organization.

China's Commerce Ministry said on Wednesday it would not issue more export quotas for foreign companies as it did last year and the first set of volume totaling 14,446 included those for foreign firms.

Recent research suggests twice as many consumers are buying laptops than desktops.

Japan's biggest electronics conglomerate Hitachi Ltd said it will review the operations and its capital relationships with a quarter of its roughly 40 businesses, the Nikkei said.