IBT Staff Reporter

U.S. banking regulators partially retreated from a much-criticized proposal to impose new rules on private equity investment in troubled banks, aiming to encourage responsible investment in distressed banks.

U.S. stocks closed near break-even on Wednesday despite fresh signs of a modest economic recovery, while rising U.S. crude stockpiles led oil prices to extend sharp losses from the previous session.

U.S. banking regulators partially retreated from a much-criticized proposal to impose new rules on private equity investment in troubled banks, aiming to encourage responsible investment in distressed banks.

Anyone holding their breath for Apple Inc's much-anticipated, but never confirmed, touchscreen tablet device may have to wait a bit longer than they planned.

Analysts who were hoping to spend a sunny day on the Google Inc campus sprinkling questions about the monetization of new ad formats over an organic gourmet salad will have to settle for a series of webcasts.

Police released a tape of an interview with Karen Cunahin Sypher, a woman involved in a sex scandal with University of Louisville's basketball coach Rick Pitino.

Bid to Fight Investor Flight; Apple's Tablet Not in Sight; GE Seeks Security Unit Buyer

The value of Hong Kong's total exports and imports in July fell 19.9% and 17.8% respectively over the same period last year, the Census & Statistics Department (CSD) said on Wednesday.

Northrop Grumman Corp was awarded a U.S. Air Force contract boost, up to $3.4 billion, to support the radar-evading B-2 bomber, the Defense Department said on Wednesday.

Billionaire Carlos Slim and technology supplier Qualcomm Inc are teaming up with the launch in Mexico of a low-cost video game console designed for consumers in developing countries.

China Sinopec Group's $7.24 billion acquisition of Swiss oil firm Addax Petroleum Corp was approved by the Iraqi government, a local paper quoted a senior Sinopec official as saying on Wednesday.

The U.S. National Hurricane Center said Tropical Storm Danny is likely to be formed into the season's second hurricane later in this week.

U.S. airlines are slowly ratcheting up their bag-check fees, like US Airways Group Inc did on Wednesday, but analysts warn that carriers risk alienating customers with excessive fees.

Australian Dollar: Yesterdays stronger than expected Australian economic data provided some level of support for the Aussie dollar at 0.8330 during the local session sending it into early European exchange on its highs pressing against 0.8380. Resistance at these levels proved too strong to overcome and the AUD/USD spent the majority of the offshore session drifting lower. Demand for the Greenback against the majors saw the Aussie move closer to 0.8250 and opens this morning at 0.8275. The loca...

The missing Mercedes belonging to murdered model, Jasmine Fiore, has been located and confirmed by the Buena Park police department that it is definitely her car according to reports from TMZ.

U.S. airlines are slowly ratcheting up their bag-check fees, like US Airways Group Inc did on Wednesday, but analysts warn that carriers risk alienating customers with excessive fees.

Two Sunbelt banks filed for initial public offerings on Wednesday to raise money that would be used in part to pay off money owed to the U.S. Treasury, setting the stage for the first U.S. IPOs by banks in more than two years.

U.S. banking regulators partially retreated from a much-criticized proposal to impose new rules on private equity investment in troubled banks, aiming to encourage investments in distressed bank assets.

NEW YORK - Cash crude differentials firmed on Wednesday on more favorable spreads as traders began the first day of trading for October barrels.

Just two months out of bankruptcy, Chrysler Group has renewed the hunt for a manufacturing partner in China as it prepares to revamp its product lineup under the control of Italy's Fiat SpA (FIA.MI), three people with knowledge of the discussions said.

Mininova, an alternative to BitTorrent tracking site The Pirate Bay, has lost a key legal battle and has been ordered to purge its directory of trackers linking to copyrighted files within 30 days or face fines.

Actor Eddie Cibrian, 36 filed for divorce from his wife Brandi Glanville amid a scandal implying he and country singer LeAnn Rimes are now going public with their romance.

Venezuelan lawmakers are moving to outlaw the sale of violent videogames and toys in an attempt to fight rampant crime in the country.

September 9 event is proving to be an eventful day for Apple with a source confirming that Apple will unveil its new iPod lineup and make a string of other music-related announcement. Read Full Article here.

WASHINGTON - Japanese and South Korean automakers registered the biggest market share gains in the U.S. government's cash for clunkers program that ended this week with bankruptcy related inventory shortages hurting General Motors Co [GM.UL] and Chrysler.

Ryan Jenkins's half sister may have been the one to drive and check him into the motel where he took his life according to reports from The Vancouver Sun.

The chief executives of the biggest U.S. health insurance companies were called to testify about industry practices before a congressional hearing examining coverage, costs and claim denials.

Investors stayed cautious on Wednesday after a rally, leaving stocks little changed despite solid reports on new home sales and durable goods orders.

National carrier Air New Zealand Ltd reported a 90 percent fall in full year net profit on Thursday, as the global recession and flu pandemic hit air travel.