IBT Staff Reporter

Michelle Moran never had any doubts what she wanted to be in life -- a writer.

Preventing Economic Overheating; Economy Shrank Even Less; Midwest Still Struggling

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Business activity in the U.S. Midwest failed to return to growth in September as expected, and instead got slammed by a decline in production and new orders, a report showed on Wednesday.

The U.S. economy contracted in the second quarter more slowly than initially thought, but negative news on jobs and on manufacturing activity in the country's Midwest region in September pointed to a patchy recovery from recession.

U.S. President Barack Obama said on Wednesday his administration was deeply committed to passing a new energy law that would set caps on greenhouse gas emissions, welcoming a new Senate proposal on the issue.

Electronics retailer Best Buy Co expects to hire more staff for the U.S. holiday season than it did last year and will promote its in-store services as a way to woo shoppers, Chief Executive Brian Dunn said on Wednesday.

U.S. stocks erased their losses in early afternoon trade on Wednesday, with first the Nasdaq turning positive. The S&P 500 and the Dow industrials quickly followed suit, advancing into positive territory.

Penn National Gaming Inc is considering acquiring the unfinished Fontainebleau resort, which sits toward the northern end of the Las Vegas Strip, the U.S. casino and racetrack operator's chief financial officer said on Wednesday.

Global semiconductor sales will decline less than previously forecast this year and will return to growth in 2010, tech research house iSuppli said on Wednesday.

TerreStar Corp's majority-owned unit signed a deal with AT&T to launch the first fully integrated satellite smartphone, sending its shares up 39 percent to a 52-week high.

China Real Estate Information Corp, a provider of real estate information and consulting services, is planning to raise up to $200 million in a U.S.-listed initial public offering.

France's government Wednesday softened its stance on the arrest of Roman Polanski for having sex with a 13-year-old girl, calling it a serious case after initially rushing to the film director's defense.

The U.S. economy contracted in the second quarter at a slower pace than previously thought, while a surprise slide in manufacturing activity in the country's Midwest region in September pointed to a patchy recovery from recession.

The U.S. economy contracted in the second quarter at a slower pace than previously thought, while a surprise slide in manufacturing activity in the country's Midwest region in September pointed to a patchy recovery from recession.

American First Lady Michelle Obama said on Wednesday she was excited to be in the Danish capital and was ready to do a lot of work in support of Chicago's bid for the 2016 Olympics ahead of Friday's vote.

Microsoft did not infringe a patent held by anti-piracy software maker Uniloc Inc, a federal judge ruled on Tuesday, nullifying an earlier $388 million (242 million pound) damages award against Microsoft.

A congressional panel will expand its examination of credit rating agencies to look at why U.S. securities regulators ignored warnings from former Moody's Corp executives about the company's weak compliance department and ratings process.

Kraft Foods Inc has until November 9 to make an offer for British confectioner Cadbury Plc or must walk away for six months, Britain's Takeover Panel said on Wednesday.

Iran said on Wednesday it viewed pending nuclear talks with six world powers as an opportunity and a test, and the United States said an extraordinarily difficult process was starting with more meetings likely.

German police said Wednesday they had broken up an international child pornography network that exchanged pedophile images on the Internet and sexually abused children.

U.S. stocks dropped on Wednesday, after an unexpected contraction in Midwest business activity sounded a dour note at the end of a strong quarter.

U.S. President Barack Obama announced a plan on Wednesday to spend $5 billion to create new jobs for medical and scientific research, medical supplies and improved laboratory capacity.

A powerful earthquake struck off the city of Padang on Indonesia's Sumatra island Wednesday, killing at least 75 people and trapping thousands under rubble, officials said.

Chinese leaders have told their diplomats to seek greater political and economic influence, changing tack from the low profile they relied on for decades to allay foreign concerns about the country's growing might.

The following stocks may be affected by newspaper reports and other factors on Wednesday:

The following are planned mergers under review by the European Commission and a brief guide to the EU merger process:

Oil rose above $68 per barrel on Wednesday, buoyed by a drop in U.S. gasoline inventories and a weak dollar.

Lawyers for Oscar-winning film director Roman Polanski lodged an appeal with a Swiss court on Tuesday against his arrest on a U.S. extradition warrant to face sentence for having sex with a 13-year-old girl in 1977.