IBT Staff Reporter

The U.S. services sector, which represents about 80 percent of U.S. economic activity, grew for the second consecutive month in October, while the labor market also showed signs of improvement in data published on Wednesday.

Goldman Sachs has agreed to sell half of its holding in Shineway Group, China's top meat processor, to a Chinese fund for about $150 million, earning roughly five times its investment from the landmark 2006 deal, sources with direct knowledge of the matter said on Wednesday.

Fertilizer maker Terra Industries Inc rejected a sweetened $4.1 billion takeover bid from rival CF Industries Holdings Inc on Wednesday in the latest twist in a takeover battle going on since January.

Spanish telecommunications company Telefonica raised its offer for Brazilian rival GVT on Wednesday by 5.2 percent, seeking to trump a potential counteroffer by French media group Vivendi and seal a deal by the end of the month.

U.S. stocks rose broadly on Wednesday on positive economic data and ahead of a Federal Reserve statement on interest rates and the economy that is expected to keep government support in place.

Automatic Data Processing Inc posted higher quarterly earnings on Wednesday as the world's largest payroll processing company trimmed expenses to offset lower sales.

U.S. stocks rose broadly on Wednesday on positive economic data and ahead of a Federal Reserve statement on interest rates and the economy that is expected to keep government support in place.

Merck & Co and Schering-Plough Corp said their $41.1 billion merger will be completed later on Tuesday, marking the close of the second huge deal in the pharmaceutical industry in recent weeks.

The global meltdown and resulting implosion in vehicle sales over the past year have pressured everyone in the automotive sector, creating opportunities for some players while leaving others subject to bankruptcy, consolidation or concessions.

Republicans rolled to victory in Virginia and New Jersey governor's races on Tuesday in a sharp blow to Democrats that showed the limits of President Barack Obama's political clout.

The main rival to Sun's MySQL database has always been Oracle not Microsoft, the creator of MySQL said, as Europe nears an antitrust decision on Oracle's proposed $7 billion purchase of Sun.

Automotive suppliers can look forward to a wave of consolidation as businesses hit hard by the crisis seek to restructure, boost economies of scale and gain access to new technologies, industry executives said at the Reuters Auto Summit.

GMAC Financial Services, a lender that has received $12.5 billion in government bailouts, posted a third straight quarterly loss on Wednesday, hurt by red ink in its mortgage business.

The U.S. labor market showed signs of improvement in October with fewer planned layoffs and private job cuts, though investors are waiting for Friday's government data for a confirmation of the trend.

Comcast Corp's quarterly profit rose 22 percent, beating expectations, as it sold more phone and Internet subscriptions, helping the top U.S. cable operator fight competition from phone and satellite companies for video subscribers.

Eight major banks which were at the front of the line for government bailouts have already set aside $117.6 billion this year to pay employees, almost as much as they paid in all of 2008, a Reuters analysis has found.

Apple began promoting its music videos on iTunes Store on Tuesday, as the company plans to expand its offering on the popular online store.

Asian stocks rise for first day in three on profit optimism; Toyota gains.

Police clashed with supporters of Iran's opposition leader Mirhossein Mousavi in Tehran on Wednesday when a rally marking the 30th anniversary of the storming of the U.S. embassy turned violent.

Comcast Corp's quarterly profit rose 22 percent as customers signed up for additional phone and Internet services, helping the top U.S. cable operator fight competition from phone and satellite operators.

Planned layoffs at U.S. firms fell for a third straight month in October to a 19-month low, feeding hopes the labor market will continue to improve as economic activity rebounds.

Technocrats and some existing ministers will be included among Afghan President Hamid Karzai's new government within the next three weeks, a spokesman said on Wednesday, but his main rival ruled out taking any part.

Swine flu can cause severe disease in people of all ages and appears to pose a special threat to those who are obese, according to an analysis ofH1N1 cases in California released on Tuesday.

The United States ranks 30th in terms of infant mortality, an important measure of the quality of healthcare, according to a report released on Tuesday.

Indonesia will stick to a controversial plan to open peatlands for oil palm estates as it seeks to develop the economy despite protests from green groups that this type of land conversion speeds up climate change.

China is pushing to complete its first commercial-scale power plant that can capture and store emissions, but must do more research on how and where to lock away carbon dioxide if the technology is to get wide roll-out.

Dutch Philips Electronics is betting it can help doctors monitor patients remotely to keep an aging population healthier and battle rising medical costs.

U.S. employers who tell workers to stay home when they are sick will have to give them paid time off for up to five days under new federal legislation proposed on Tuesday.

The Bank of Japan will keep interest rates near zero even as downside risks to the economy subside, the central bank governor said, reassuring investors its withdrawal from credit markets does not signal an exit from its ultra-easy monetary policy.