IBT Staff Reporter

Irving Picard, the court-appointed trustee searching the globe to recover money for defrauded investors of convicted swindler Bernard Madoff, has sought an additional $555 million in recoveries from UBS AG on Tuesday.

U.S. stock index futures pointed to a mixed open on Wall Street on Wednesday, with futures for the S&P 500 down 0.11 percent, Dow Jones futures down 0.41 percent and Nasdaq 100 futures up 0.03 percent at 1049 GMT.

China Unicom, the country's No. 2 mobile operator, has more than halved the monthly subscription of its entry-level 3G mobile package in a bid to increase its customer base.

U.S. retailer Costco Wholesale Corp posted a better-than-expected quarterly profit as sales and traffic grew at its U.S. stores and the weakening dollar helped sales overseas.

- U.S. government bonds extended sharp losses on Wednesday over U.S. tax proposals, boosting the appeal of the dollar as yields spiked and sending many investors fleeing for the sidelines.

Taiwan's UMC, the world's No.2 contract chipmaker, booked its smallest monthly sales in five months in November, showing weaker demand for some technology products before the year-end shopping season.

Corrects to specify Nikkei is near 7-month high, not yen

Private equity firm Blackstone Group is in talks to join a bid by China's Bright Food Group Co for U.S. healthcare products seller GNC Holdings Inc, a person who is familiar with the situation said on Wednesday.

Nintendo faces a tough battle to boost growth as rivals snatch the lead in motion-controlled gaming from the long-time world-beater, just as competition from smartphones and tablets batters the handheld market.

U.S. government bonds extended sharp losses on Wednesday, pushing the dollar higher against the yen and the euro while sending most other investors fleeing to the sidelines.

A sharp selloff in U.S. government bonds pushed the dollar to its highest in seven months versus the yen on Wednesday, giving the Japanese stock market a boost but sending most other investors to the sidelines.

The first laptops powered by Google Inc's Chrome operating system will reach store shelves months later than expected and miss the holiday shopping season as the Internet company fixes software issues.

Online video provider Netflix Inc said on Tuesday its long-time chief financial officer Barry McCarthy has resigned and will be succeeded by company finance veteran David Wells, sending its shares down in after-hours trading.

The Irish government detailed the toughest budget on record on Tuesday, targeting 6 billion euros in spending cuts and tax hikes, and warning passage was crucial to avert a deeper crisis and free up EU and IMF rescue funds.

Research in Motion Ltd said the software in its forthcoming tablet will eventually find its way into its flagship BlackBerry line of smartphones.

LOS ANGELES - Technicolor wants to be sure 3D is comfortable to watch.

Elizabeth Edwards, the former wife of former presidential John Edwards, died Tuesday after a six-year battle with cancer. She was 61.

Fannie Mae and Freddie Mac are in discussions with U.S. government officials to join government programs aimed at reducing mortgage balances where borrowers owe more than the values of their homes, the Wall Street Journal reported on Tuesday citing people familiar with the situation.

Microchip bellwether Texas Instruments Inc said it was confident a recent demand correction would be short-lived and narrowed its quarterly earnings guidance in line with analysts' expectations.

Delta Air Lines Inc ticket and gate agents have voted to reject union representation, dealing another blow to labor groups seeking to represent a majority of workers at the carrier.

Microsoft is adding new privacy features to Internet Explorer 9, in part as a response to the concerns raised about tracking online behavior.

Toronto-Dominion Bank is in talks to buy lender Chrysler Financial from private equity firm Cerberus Capital Management , a source said on Tuesday, although a TD official suggested such a transaction was unlikely.

Bond insurer MBIA Inc accused Morgan Stanley in a lawsuit of misrepresenting the quality of mortgage backed securities insured for over $223 million.

WILMINGTON, Del., December 7 - Washington Mutual Inc made its final pitch for court approval of a $10 billion deal to end its two-year bankruptcy, saying it outweighed the risks of legal battles against JPMorgan Chase & Co and a regulator.

CBS Corp Chief Executive Leslie Moonves is optimistic about 2011 advertising trends and expects the brisk pacing of ad revenue growth to continue in the first quarter.

President Barack Obama defended his compromise with Republicans on extending tax cuts for wealthier Americans, saying it was urgent to keep millions of Americans from losing unemployment insurance payments.

The much-hyped year-end bonuses offered by Cravath Swaine & Moore and other U.S. law firms are not all that great as they come with conditions attached.

With a deal announced between the Obama administration and Congressional Republicans to extend the Bush-era tax cuts for everyone, including the nation's most wealthy, and to extend unemployment insurance for millions of out-of-work Americans, at least one organization concerned with the nation's finances is reminding everyone that such bargains are no bargain for the burgeoning national debt.

The amount raised globally from initial public offerings in 2010 is on track to beat any other year on record, according to Ernst & Young, despite waves of market volatility which disrupted many planned listings.