IBT Staff Reporter

Microsoft Corp has pulled the plug on a new generation of smartphones less than three months after the company unveiled the devices in an attempt to catch-up with Apple and Google in the fast-growing mobile market.

Hundreds of additional stocks and 344 exchange-traded funds face trading curbs under a proposed expansion of the circuit breakers that were adopted in response to May's severe flash crash.

Japanese business confidence was at its best in two years in the three months to June and big firms revised up capital spending plans, a Bank of Japan survey showed, in a sign the export-driven economic recovery is taking hold.

Amazon.com Inc said on Wednesday it signed an agreement to acquire online store Woot.com, which sells discounted products and operates an online community, for an undisclosed sum.

World Trade Organization judges gave the European Union a stinging rebuke on Wednesday, saying the EU must axe prohibited export subsidies to plane-maker Airbus which had injured U.S. rival Boeing .

The mood among Japanese businesses turned positive for the first time in two years and big firms revised up capital spending plans, a Bank of Japan survey showed, in a sign the export-driven economic recovery is taking hold.

Opposition leader Tony Abbot's election pledge of $1.5 billion to boost mental health services were received warmly by experts.

Yahoo Inc approved a plan to repurchase up to $3 billion of its common stock over the next three years, the company said on Wednesday.

Moody's Investors Service said on Wednesday it is reviewing Spain's ratings and may lower them by as much as two levels due to sliding growth expectations and mounting fiscal challenges.

Renewed concerns over the outlook for global growth have spurred another sell off in the commodity currencies, sending the AUD back through USD0.8400 overnight.

Former Bundaberg surgeon Jayant Patel, 60, will be summoned in court on Thursday for his sentencing hearing for killing three patients and permanently injuring another one.

U.S. President Barack Obama on Wednesday maintained pressure on China to ensure its currency policy did not give it an unfair export advantage.

Scientists have discovered, journal Nature reported, fossils of an ancient monster whale that preyed on other whales. The beast has been named Leviathan Melvillei after the author of Moby Dick.

More stocks and certain exchange traded funds would face trading curbs when markets are in free-fall, the Securities and Exchange Commission proposed on Wednesday.

Rogers Communications Inc said on Wednesday it plans to launch a low-cost unlimited talk- and text-only mobile phone brand, taking aim at a market targeted by a bunch of new wireless entrants.

The biggest overhaul of U.S. financial regulation in decades won final House of Representatives approval on Wednesday, with the Senate not expected to render its verdict until mid-July.

To get an idea of how some U.S. textile mills can compete with developing-world rivals who pay far lower wages, roll a bowling ball down one of the production lines at Parkdale Mills' Walnut Cove yarn plant.

U.S. President Barack Obama launched a broad attack against Republican lawmakers on Wednesday, calling them out of touch with ordinary Americans for opposing Wall Street reform and siding with Big Oil.

U.S. stocks staggered to the end of a dismal second quarter on Wednesday in another low volume session as investors found little reason to take on risk after conflicting economic data.

The AUD/USD bounced from intraday support at 0.8465 on two occasions during early morning exchange yesterday rallying during the afternoon session to enter offshore trade edging towards 0.8550.

Refiles to fix temperature conversion in 4th last paragraph

U.S. stocks staggered to the end of a dismal second quarter on Wednesday in another low volume session as investors found little reason to take on risk after conflicting economic data.

U.S. Senate Democrats on Wednesday postponed until mid-July a final vote on a landmark overhaul of financial regulations as they scrambled for crucial support from a handful of moderate Republicans.

U.S. private sector employment rose by a paltry amount in June, underscoring concerns about a weak labor market two days ahead of a closely watched government jobs report.

U.S. stocks were little changed on Wednesday as a disappointing reading of the labor market offset signs of improved Midwest business activity.

The former head of the AIG unit that drove the insurer to the brink of collapse said he could have saved taxpayers money if allowed to settle claims with firms like Goldman Sachs, instead of being sidelined before a 2008 bailout.

Stocks rose on Wednesday on signs of improved Midwest business activity and bargain-hunting a day after the S&P 500 fell to an eight-month low.

Japan's Sony Corp said on Wednesday that about 535,000 units of its Vaio brand personal computers globally may be in danger of overheating and that it has provided software on its website to eliminate the problem.

Unemployment is likely to stay high for a long time, two Federal Reserve officials said on Wednesday, suggesting the U.S. central bank is in no rush to raise its ultra-low interest-rate policy.