IBT Staff Reporter

Goldman Sachs Group Inc could have suffered dramatic losses if the federal government had not intervened to prop up American International Group Inc, according to a government report.

U.S. Treasury Secretary Timothy Geithner on Wednesday called on banks to get back to the business of lending and said a tough credit environment for small businesses will slow economic recovery.

BJ's Wholesale Club Inc reported a 37 percent drop in quarterly profit on Wednesday, hurt by a charge for a proposed legal settlement regarding worker pay.

The Consumer Price Index for All Urban Consumers was up 0.3 percent in October, according to a monthly report from the U.S. Labor Department.

Jay-Z, Will Smith and Jada Pinkett Smith have officially signed on as co-producers of Fela!, a musical about Nigerian Afrobeat pioneer Fela Anikulapo-Kuti that opens Monday (November 23) on Broadway.

Former Velvet Underground members Lou Reed, Maureen Tucker and Doug Yule will make an extremely rare joint public appearance on December 8 at the New York Public Library.

U.S. stocks fell on Wednesday on worrying outlooks from major software makers and as a surprise drop in new home construction last month prompted concern about the strength of an economic recovery.

Demian Bichir, who played the young Fidel Castro in Steven Soderbergh's Che, will play another revolutionary in the Mexican film Hidalgo-Moliere.

In The Twilight Saga: New Moon, lovelorn character Bella Swan gets dumped by her vampire man, sinks into depression and later flies to Italy to pursue him. While that may sound too extreme, actress Kristen Stewart thinks Bella is setting a good example to girls.

Filmmakers trying to satisfy a U.S. movie rating aimed at mostly teenagers often complain that they're forced to cut violent scenes, and those edits compromise the director's vision.

Wells Fargo Investments LLC has agreed to repay about $1.3 billion to clients whose funds were frozen in the auction-rate securities market in a settlement with state securities regulators, an industry association said on Wednesday.

In the latest U.S. government housing report for the month of October, building permits issued in October rose compared with September, while construction starts fell and the number of completed homes rose.

Disaster movie 2012 wreaked even more havoc at the box-office than expected, Columbia Pictures said on Monday, taking in $230.4 million worldwide on its opening weekend.

Senate Democratic leader Harry Reid prepared to unveil long-awaited healthcare overhaul legislation on Wednesday, with the first test vote on the package expected by the end of the week.

It could be a scene from a film noir: Michel Legrand is sitting in the suffused elegance of the St Regis hotel sipping tea, while a downpour lashes the streets.

Activision Blizzard Inc said its video game Call of Duty: Modern Warfare 2 scored record sales of $550 million in its first five days, but the company is still concerned about weak consumer spending.

The Obama administration on Wednesday defended plans to try the self-professed mastermind of the September 11, 2001 attacks in criminal courts despite harsh criticism from Republicans who say the trials are too risky.

Toyota Motor Corp's global vehicle sales rose 5 percent in October to about 640,000 units, marking the first year-on-year increase in 15 months, the world's biggest automaker said on Wednesday.

Norwegian electric car maker Think Global is gearing up to launch its vehicles in the United States and has picked a site in Indiana for its U.S. manufacturing facility, a major investor in the company said on Tuesday.

U.S. President Barack Obama underscored on Wednesday that his administration did not want to meddle in the decisions of General Motors.

Mitsubishi UFJ Financial Group became the third major Japanese bank to post upbeat results, underscoring the improving outlook for the sector, and said it would raise $11 billion to meet stricter capital rules.

U.S. stocks fell on Wednesday as an unexpected drop in new home construction in October sparked caution about the strength of an economic recovery, offsetting strength in the natural resources sector amid U.S. dollar weakness.

Activision Blizzard Inc said its video game Call of Duty: Modern Warfare 2 scored record sales of $550 million in its first five days, but the company is still concerned about weak consumer spending.

Rising energy costs likely pushed consumer prices up in October, but core inflation was likely tempered by sagging rents, according to a Reuters poll of economists.

A senior Federal Reserve official said on Wednesday the U.S. central bank may start tightening financial conditions by adjusting its extensive asset purchase programs rather than raising interest rates.

U.S. actor Johnny Depp is 2009's Sexiest Man Alive, according to People Magazine. This is not the first time that Depp, 46, is given the title; he also won it in 2003. Only actors Brad Pitt and George Clooney have been named Sexiest Man Alive twice.

World number two truckmaker Volvo said vehicle shipments tumbled in October from last year, but a rise over September deliveries offered hope the sector's headlong plunge in demand may have bottomed.

Italy's Ferrero and U.S.-based Hershey are reviewing options over a possible bid for Cadbury , but hostile bidder Kraft's $16.8-billion offer is still seen as the front runner.

General Motors Co said on Tuesday it will unveil the U.S. production version of its Chevrolet Cruze small sedan at the Los Angeles Auto Show in December.