IBT Staff Reporter

The International Monetary Fund on Wednesday lowered its estimate for global writedowns for banks and other financial institutions to roughly $3.4 trillion but warned that loan losses were set to rise as unemployment and associated delinquencies increase.

The International Monetary Fund on Wednesday lowered its estimate for global writedowns for banks and other financial institutions to roughly $3.4 trillion but warned that loan losses were set to rise as unemployment and associated delinquencies increase.

Oil rose toward $68 per barrel on Wednesday, buoyed by a fall in the dollar against major currencies at the end of the financial quarter, with the market also awaiting key U.S. oil data later in the day.

Las Vegas casino company Wynn Resorts raised $1.63 billion after pricing its Asian IPO at the top of its indicated range, a sign that demand is still strong for certain offerings despite a glut of Asian stock deals.

Toyota Motor Corp said it will recall some 3.8 million vehicles in the United States because of the risk that a loose floormat could force down the accelerator, a problem suspected of causing crashes that have killed five people.

Oil rose above $67 per barrel on Wednesday, buoyed by a fall in the dollar against major currencies at the end of the financial quarter, with the market also awaiting key U.S. oil data later in the day.

European shares look set to finish the third quarter with their best performance in nearly a decade on expectations of economic recovery while world stocks also rose strongly though not as much as in the previous period. The pan-European FTSEurofirst 300 index put on 0.4 percent on Wednesday and the MSCI world index added the same, while commodity prices were also firmer but the do...

The International Monetary Fund will raise its 2010 growth forecast for the world economy to 3.1 percent from 2.5 percent to reflect improving economic conditions, a newspaper reported on Wednesday.

Asian shares edged higher on Wednesday looking past a surprise fall in U.S. consumer confidence and the Australian dollar jumped to a 13-month high after August retail sales data beat forecasts.

Oil rose above $67 on Wednesday, recouping day-ago losses as the U.S. dollar eased against the euro and resource currencies like the Australian dollar, while eyes are on talks over Iran's nuclear plans.

OnLive, the cloud-based service that is aiming to change the way consumers play video games, announced on Tuesday a new round of financing and said interest from potential users has exceeded expectations.

Estrogen could help women diagnosed with advanced colon cancer to survive longer, a new study out in the journal Clinical Cancer Research suggests.

Asian shares edged higher on Wednesday looking past a surprise fall in U.S. consumer confidence and the Australian dollar jumped to a 13-month high after August retail sales data beat forecasts.

Ready for another reason to exercise? Men who exercise at even moderate levels may have a lower risk of prostate cancer than sedentary men, a new study suggests.

That friend who stays thin despite eating anything and everything is not just annoying. She might also wreck your diet, new research suggests.

Video gaming will hit the big screen next month when Sony Corp unveils a new game title for its Playstation3 game console at movie theaters.

CIT Group Inc is nearing a plan that likely would hand the commercial lender over to its bondholders, sources familiar with the matter said on Tuesday.

Oil edged up to $67 a barrel on Wednesday, recovering from the previous day's losses as the dollar weakened against the euro and resource currencies like the Australian dollar.

SINGAPORE - Oil edged up to $67 a barrel on Wednesday, recovering from the previous day's losses as the dollar weakened against the euro and resource currencies like the Australian dollar.

U.S. banking regulators proposed on Tuesday that banks prepay three years of fees to help cover the rising cost of bank failures, now put at $100 billion through 2013.

Salesforce.com Inc, a maker of Web-based software for managing sales and customer service, is getting into the business of selling accounting programs through a venture with a Dutch company.

CIT Group Inc is nearing a plan that likely would hand the commercial lender over to its bondholders, sources familiar with the matter said on Tuesday.

A green power building spree is on the way, and much of it will be brought to you by the same people who built the nuclear and coal-fired power plants that keep the lights on now.

A series of tsunamis smashed into the Pacific island nations of American and Western Samoa killing possibly more than 100 people, destroying villages and injuring hundreds, officials said on Wednesday.

Hartford Financial Services Group Inc named a former Bank of America Corp executive to be its new CEO, and he already has plans to introduce enhanced risk management after record losses at the 199-year-old insurer.

Apple begins to end its iPhone exclusivity as Vodafone on Tuesday announced it will join France Telecom's Orange and Telefonica's O2 in selling the phone in Britain.

Toyota Motor Corp said on Tuesday it will recall some 3.8 million vehicles in the United States because of the risk that a loose floormat could force down the accelerator, a problem suspected of causing crashes that have killed five people.

Ailing Swedish car firm Saab, being sold by General Motors, may not get the full 4.3 billion Swedish crown ($612 million) loan it has asked for from the European Investment Bank (EIB), daily Dagens Industri wrote on Tuesday, quoting an unnamed source.

UBS AG said on Tuesday it hired a Morgan Stanley investment banker to head its insurance practice in North America, months after it lost two senior insurance bankers to Greenhill & Co.