IBT Staff Reporter

The market remains under pressure as Germany's ban on short-selling activities triggered a new round of panic selling in risky assets. WTI crude oil price extends the 7th-day decline to as low as 67.9, the lowest level since September 30, 2009. The contract has plummeted more than -20% so far in May. Despite a plunge below the OPEC's preferred range of 70-80, Saudi Arabia's financial minister stress that he's not worried about the decline and the country will commit to the planned projects.

With the rapid onset of the worldwide recession in late 2008, marked by sharp drops in commodity prices that continued till 2009 marked notable implications on base metals, where the global mergers and acquisitions activities came almost to a halt.

United Nation's Food and Agriculture Organisation said global wheat crop is to fall by more than 7 million tonnes this year as poor prices turn farmers off the grain. The global wheat harvest will come in at 675m tonnes this year, below last year's level and the record 683.8m tonnes set in 2008, FAO said in a report.

Samsung Electronics plans to launch the first smartphone based on its own operating system in coming weeks, as it seeks to catch up with bigger rivals in the booming high-end market, an executive said on Wednesday.

BJ's Wholesale Club Inc posted a higher quarterly profit, helped by a jump in sales at stores open at least a year.

A Pakistani court ordered the government on Wednesday to block Facebook after press reports of a competition being held to draw the Prophet Mohammad, a lawyer said.

Stocks were set to open lower on Wednesday, adding to the previous sessions losses and mirroring weakness in Europe as worries over tighter financial regulation put pressure on equities.

According to the latest study by Australian scientists, imagining your favourite foods can increase cravings and make it difficult to work on other tasks.

Gold prices eased in Asian trade Wednesday even after reports of a tumbling euro. Gold for immediate delivery was seen trading at $ 1213.75 an ounce at 11.00 a.m Singapore time while U.S. gold futures for June delivery was at 1213.31 an ounce e at the same time.

Carmaker General Motors Co told the United Auto Workers it will no longer pay union employees to leave the company, the Wall Street Journal said.

The euro hit another four-year low on Wednesday and stocks slumped after Germany's move to ban some naked shorting and German Chancellor Angela Merkel said the euro was in danger.

A recent report reveals about 90 per cent of Australians with hepatitis C have not undergone treatment, although treatments for the condition are available.

SAANEN, Switzerland (Reuters Life!) - In a secret bunker deep in the Swiss Alps, European researchers have deposited a digital genome that will provide the blueprint for future generations to read data stored using defunct technology.

The euro fell to a fresh four-year low on Wednesday after a German move to sharpen financial regulation raised doubts about the prospect for global recovery, pulling down Asian stocks, metals and crude oil.

According to doctors, nearly half of all Australians from the ages 55 and over have elevated risk of developing a stroke or experiencing a heart attack in the next five years.

According to the Binge Listening study, about 13 per cent young Australians exposed to leisure-associated noise that goes beyond the accepted limit allowed at worksites every year

American International Group has named Henri Courpron as chief executive officer of its aircraft leasing unit, International Lease Finance Corp , the Wall Street Journal said.

Germany banned risky bets on bonds, stocks and credit protection, stunning investors and setting euro zone markets up for a rough ride on Wednesday amid fears Berlin's attack on speculation will backfire.

The euro fell to a fresh four-year low on Wednesday after a German move to sharpen financial regulation raised doubts about the prospect for global recovery, pulling down Asian stocks, metals and crude oil.

The euro fell to a fresh four-year low on Wednesday after Germany moved to sharpen financial regulation, taking down commodities and Asian stock markets in its wake as investors stampeded out of riskier assets.

Hewlett-Packard Co's quarterly results beat expectations and it raised its full-year earnings outlook on demand for personal computers and servers as well as a resurgence in its printing business.

Google Inc Chief Executive Eric Schmidt said on Tuesday his company is prepared to fight the U.S. government very hard if regulators block the search leader's acquisition of mobile advertising firm AdMob.

Yahoo said on Tuesday it has agreed to acquire the user-generated publishing company Associated Content to add more pages to attract advertisers.

Bank of America Corp agreed to sell preferred and common shares of Brazil's Itau Unibanco in a deal valued at 8.16 billion reais ($4.5 billion), ending a partnership started in 2006 when the Brazilian bank took over the local unit of FleetBoston Financial.

Senior Senate Democrats clashed late on Tuesday as they tried to wrap up loose ends in a sweeping Wall Street reform bill headed for final passage within days.

Online travel agency Priceline.com said it acquired Manchester-based TravelJigsaw Ltd, a car hire reservation provider, to expand its international business.

A doctor who failed to properly clean surgical equipment has now led 450 patients at WA hospitals being at risk of serious viruses, including HIV and hepatitis as health authorities reported.

Regulators still have not been able to pinpoint the cause of the market's recent plunge, but charged ahead with new rules to restrict trading when markets are in free-fall.

Facebook has teamed up with 50 wireless operators to offer cellphone users a stripped-down version of the social networking site that can be accessed without incurring data charges.