IBT Staff Reporter

A huge subsea quake struck the southwest Pacific on Thursday, local time, prompting a tsunami warning for island nations only a week after a deadly wave swept over the Samoa islands, killing around 150 people.

Manitoba Telecom Services its revenue and cash flow outlook for the year on Wednesday, saying its long distance business and enterprise unit were hurt by the recession and the slow pace of economic recovery.

Marathon Oil Corp on Wednesday said its third-quarter oil and gas production will be lower than the previous quarter, but at the high end of its expectations.

Bank of America Corp should look for a new chief executive outside of the company, a shareholder that has criticized the current management in the past said on Wednesday.

Hype about the swine flu vaccines, pent-up demand for cash and a push by major drugmakers to boost their flagging research pipelines has helped lift biotechnology fund-raising 36 percent so far this year.

Verisk Analytics Inc, an insurance services firm partly owned by Warren Buffett's Berkshire Hathaway, soared in its first day of trading on Wednesday, and stirred hopes that the appetite for such offerings is warming.

The top U.S. communications regulator praised recent moves by big wireless companies to open their networks and said he would work to overcome a looming shortage of airwaves used by the industry.

Aerosmith has survived drugs, departures, divorces and discord since the rock 'n' roll bad boys formed 40 years ago.

Forty years ago, Tim Hauser put together a sophisticated little singing group he hoped would make a few hits.

Celebrity and fashion photographer Irving Penn died Wednesday at 92 in his Manhattan home.

California Gov. Arnold Schwarzenegger desperately wants a bill to fund an overhaul of the state's water system -- so much so he is hinting he may veto more than 700 bills awaiting his signature by midnight Sunday if top lawmakers fail agree to one.

The Minnesota Twins will play against the New York Yankees in New York at 6:07 pm EST during the first day of the Major League Baseball postseason.

The Standard & Poor's 500 and Nasdaq indexes edged up on Wednesday with investors responding positively to early earnings results as the quarterly reporting period got under way.

A request from the top U.S. and NATO commander in Afghanistan for additional troops has been transferred to President Barack Obama for review and has started working its way through the military chain of command, the Pentagon said on Wednesday.

The Aussie dollar pulled back from its early morning highs above 89 cents yesterday dipping to an intraday low of 0.8865 following slightly softer than forecast Home Loan data. The markets insatiable desire for the AUD resurfaced however as it bounced back to eventually exchange at an overnight high near 0.8950, its highest level since early August 2008.

Dell plans to launch a smartphone with Google's Android mobile software on carrier AT&T's network as soon as early 2010, the Wall Street Journal reported on Wednesday.

The U.S. airline industry, battered severely in the last year by volatile fuel costs and an economic recession, may show signs of recovery when carriers begin reporting quarterly earnings next week, experts said on Wednesday.

U.S. consumers have cut their use of credit by 4.5 percent from all-time highs last year, as the latest report released today by the Federal Reserve showed a $12 billion decline in August.

Australian actress Naomi Watts, who starred in The Ring, King Kong, and Eastern Promises, is the actress who provides the best return for a film studio, according to a list by Forbes.com.

The U.S. Chamber of Commerce isn't taking Apple's resignation quietly after Apple announced on Monday it was quitting the organization because it disagrees with the chamber's policy on climate change.

The Obama administration's latest effort to boost the beleaguered housing market is likely to help mortgage insurers as lower defaults will boost their liquidity.

Alcoa Inc posted a surprise profit on Wednesday, after three consecutive quarterly losses, mainly because of cost savings and an increase in aluminum prices.

The Standard & Poor's 500 and Nasdaq indexes edged up on Wednesday as investors responded positively to early earnings results as the quarterly reporting period got under way.

Alcoa Inc posted a surprise profit on Wednesday, after three consecutive quarterly losses, mainly because of cost savings and an increase in aluminum prices.

Spain's Telefonica offered on Wednesday to buy Brazilian telecommunications company GVT for 6.5 billion reais ($3.7 billion) in cash, seeking to trump a bid by French rival Vivendi.

Singer Beyonce Knowles finally spoke out on Kanye West's actions at the Video Music Awards last month.

Madonna's ex husband Guy Ritchie spoke about the pop diva in an interview with Esquire Magazine published Wednesday.

Oil prices fell toward $69 a barrel on Wednesday after U.S. data showed fuel stocks surged last week in the world's biggest energy consumer, signaling a recovery in oil demand could take more time.

The top U.S. communications regulator praised recent moves by top wireless companies to open their networks and said he would work to overcome a looming shortage of airwaves used by the industry.