IBT Staff Reporter

Oil surged more than 4 percent on Wednesday after U.S. government data showed a steep drop in crude imports and inventories in top consumer the United States.

You don't have to be a rabid golf fan to know that something just happened in professional golf that was unprecedented and unpredicted: Tiger Woods lost a major golf tournament after leading at the halfway point of thirty-six holes.

Gasoline pumps have been labeled as Regular, Midgrade, and Premium based on octane rating for many years, but modern gasoline formulations have many other attributes. Performance and emissions standards that govern how gasoline is made, which have varied over time and by location, affect the production cost of gasoline and its retail price.

JPMorgan Chase & Co. is launching the Chase Sapphire credit card intended for wealthy households with incomes over the $120,000.

Deere & Co warned on Wednesday that it would barely break even in the current quarter and that it would cut production by as much as a third because of weak demand for construction equipment and a sharp drop in overseas orders for farm tractors.

The largest credit card lender in the U.S., JPMorgan Chase & Co. announced a new credit card dominated by American Express to target consumers with household incomes exceeding $120,000 per year.

Expectations for 700 million euros ($990 million) of annual savings from Volkswagen AG's (VOWG.DE) planned merger with Porsche SE (PSHG_p.DE) were

Oil surged nearly 5 percent on Wednesday after U.S. government data showed a steep drop in crude imports and inventories in top consumer the United States.

Stocks advanced on Wednesday as a strong rebound in oil prices boosted investors' confidence in the market's run-up, sending major indexes up close to 1 percent.

U.S. gold futures rose toward $950 an ounce Wednesday on the back of an oil rally and weaker dollar, even as an industry report showed that gold jewelry demand fell hard amid a global recession.

Germany could provide 4.5 billion euros ($6.35 billion) in state aid for carmaker Opel if General Motors chooses Canada's Magna, Berlin's favored suitor, as the buyer, a minister said.

Chinese human rights activist Shi Tao was sentenced to 10 years in prison in 2005 after authorities tracked him down using data provided by Yahoo.

BHP Billiton won't accept the iron ore prices reached between Chinese steel mills and Fortescue, Local media reported on Tuesday, citing senior officials of BHP China.

BJ's Wholesale Club reported a smaller-than-expected decline in quarterly profit on Wednesday and raised its full-year profit outlook, helped by improved margins and expense controls.

Jack Henry & Associates Inc shares rose as much as 8 percent on Wednesday to their highest in more than a year, following a better-than-expected quarterly earnings and strong outlook for fiscal 2010.

Two years after the start of the worst global financial crisis since the Great Depression of the 1930s, policy-makers from around the world gather this week to think about how to prevent it from happening again.

Oil surged nearly 4 percent on Wednesday after U.S. government data showed a steep drop in crude imports and inventories in top consumer the United States.

A former Bear Stearns Cos hedge fund manager facing an insider trading charge routinely ignored warnings of potential conflicts of interest, and was rebuffed when he tried to pledge some money toward a loan to build a luxury Florida condominium, prosecutors said.

Switzerland has agreed to hand over details of about 4,450 UBS AG bank accounts to U.S. authorities to settle a tax dispute that challenged Swiss banking secrecy and now threatens to spill over to other banks.

Switzerland will hand over details of about 4,450 UBS AG bank accounts to U.S. authorities, settling a tax dispute that has threatened Swiss banking secrecy, the two governments said on Wednesday.

Recovery View Gains Believers; Giving Up Names; Debt Threatens U.S.

Stock indexes turned higher on Wednesday, erasing earlier losses on strength in crude oil prices after a surprising drawdown in oil stocks.

When it comes to Apple's tablet rumor, the plot thickened today.

Germany could provide 4.5 billion euros ($6.35 billion) in upfront state aid for carmaker Opel if General Motors picks Canada's Magna, Berlin's favored suitor, as the buyer, a top official said.

U.S. electric car start-up Tesla Motors Inc said on Tuesday that it is opening a new manufacturing facility that will produce powertrain components for its vehicles.

Record label SyCo and music trade body IFPI have called in the police to help them hunt down computer hackers who leaked a track by Leona Lewis and Justin Timberlake on the Internet.

BJ's Wholesale Club reported a higher-than-expected quarterly profit on Wednesday on improved margins, and the warehouse club operator raised its profit outlook for the year.

Stocks shifted gears and headed higher on Wednesday as energy shares jumped after a government oil inventory report showed a huge drop in crude oil supply last week, boosting oil futures almost 4 percent.

Dr Conrad Murray, the personal doctor of Michael Jackson, will within 14 days be charged with manslaughter according to reports from FOXNews.