IBT Staff Reporter

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.

Brad Pitt arrives at the premiere of

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.

Oil reversed early losses on Wednesday to leap back toward $71 a barrel, as data showing oil demand could be recovering in the United States outweighed doubts about the strength of the global economy.

General Motors Co said on Tuesday it is increasing production in North America for the second half of 2009 after a surge in sales ignited by the U.S. government's

Netbook PC pioneer Asustek on Wednesday set a modest 2010 shipment target of 1 million units for its newly launched smartphone, underscoring its vulnerability as a new player in the sector.

A pitcher plant with the shape of a banana and eats rats was discovered by a group of botanists on a remote mountain in the Philippines.

The credit crunch may have dented some motorists' dreams of owning a Ferrari but the rental market for luxury cars in many countries, including Australia, is gathering speed as the rest of the auto industry splutters.

German carmaker Volkswagen and Dutch investment company Fleet Investments BV won approval from European Union regulators on Wednesday to take joint control of Dutch car leasing firm LeasePlan Corporation NV.

Industrial manufacturer Raven Industries Inc reported better-than-expected quarterly results, helped by strength in its electronic systems segment.

General Motors GM.UL board of directors will discuss on Friday the sale of its European business Opel, for which both Magna (MGa.TO) and RHJ (RHJI.BR) are in the hunt, several sources close to the deal said.

Semiconductor gear maker Photronics Inc forecast a wider-than-expected loss for the fourth quarter, hurt by higher interest costs, sending its shares down 8 percent.

Toyota Motor Corp will buy hybrid-car batteries from Sanyo Electric Co, a source familiar with the matter said, as the automaker struggles to meet growing demand for the fuel-sipping vehicles due to a shortage of battery supply.

KKR has hired Morgan Stanley as its financial advisor for the bid and Permira has appointed JPMorgan, said the sources with direct knowledge of the matter.

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

Macquarie Group Ltd, Australia's top investment bank, agreed to buy U.S. asset manager Delaware Investments for $428 million in cash from Lincoln National Corp, continuing a trend of consolidation in the fund management business.

AIG'sTaiwan unit Nan Shan Life must settle a pay dispute with employees before a new owner can be allowed in, the island's financial regulator said on Wednesday, potentially disrupting its ongoing sale.

Canada is not likely to block Nortel Networks' planned $1.13 billion sale of wireless assets to Sweden's Ericsson, the Globe and Mail reported on its website.

Oil reversed early losses on Wednesday to rise back toward $70 a barrel, as data showing oil demand is recovering in the United States outweighed doubts about the strength of the global economy.

Stocks slipped on Wednesday, led by the industrial, materials and financial sectors, as a drop in Chinese shares prompted renewed selling in global equity markets on fears stock prices have outpaced the economic recovery.

Richard Hatch who won

Deere & Co said on Wednesday its earnings in the latest quarter fell 27 percent as ongoing weakness in its construction and forestry equipment business offset strength in demand for its tractors and harvesters, especially in North America.

Billionaire investor Warren Buffett said the U.S. economy has avoided a meltdown and appears on a slow path to recovery, but Congress must now deal with enormous amounts of debt that threaten to erode U.S. purchasing power.

Channel lines are straight lines that are drawn parallel to basic trendlines. A rising channel line would be drawn above the price action and parallel to the basic trendline (which is below the price action). A declining channel line would be drawn below the price action and parallel to the down trendline (which is above the price action).Markets often trend within these channels. When this is the case, the chartist can use that knowledge to great advantage by knowing in advance where support an...

Communications technology company Messaging International on Wednesday poured cold water on market speculation it was on the verge of announcing a deal with Apple.

Deere & Co reported a higher-than-expected third-quarter profit as improved profitability in its core agriculture machinery business helped to offset weakness in construction and forestry equipment.

Britney Spears appeared on the

The Swiss government will hand over details of about 4,450 bank accounts to U.S. authorities as part of a deal struck with Washington over UBS, it said on Wednesday.