IBT Staff Reporter

New installments of U.S. wind energy in the second quarter of this year fell by more than half from the first quarter as the recession helped cut contracts for new turbines, an industry group said.

China's bubbly stock market is making heroes out of some unlikely companies. And none more so than BYD Co. (1211.HK), in which Warren Buffett plans to take a 10 percent stake.

The Maasai people of Kenya have enlisted the United Nations to help turn their songs, dances and stories into copyrighted assets, a model that could create new income for indigenous groups worldwide.

Honda Motor Co said it is recalling more than 300,000 units of its 2001 U.S.-built Accord and Civic cars in the United States and Canada to fix a defective airbag that deployed in a fatal accident.

Following a year of to-and-fro negotiations, Microsoft Corp. and Yahoo Inc. finally agreed to partner up in the Internet-search sector in a joint effort to beef up competition against search-engine giant, Google.

Royal Caribbean Cruises Ltd posted a quarterly loss and cut its 2009 forecast as fears about the flu and the weak economy dampen travel demand, sending the company's shares down 12 percent.

A senior U.S. lawmaker said on Wednesday that it may be time for the government to regulate companies that provide online file-sharing services after a number of people managed to access FBI files, medical records and Social Security numbers.

Japanese car manufacturers unexpectedly posted profits on Wednesday and Mercedes-maker Daimler forecast improving performance this year but clear signs of sustained recovery for the world's battered auto sector remained elusive.

New orders for U.S. durable goods posted their biggest drop in five months in June while major global steel and auto companies said on Wednesday any return to growth would be gradual, casting doubt over some economists' forecasts for a recovery starting later this year.

The world's largest open-source company, Sun Microsystems, has made its entrance to cloud computing in a massive open-source strategy of adoption, commercial innovation and efficiently connects the two opportunity.

A senior U.S. lawmaker said on Wednesday that it may be time for the government to regulate companies that provide online file-sharing services after a number of people managed to access FBI files, medical records and Social Security numbers.

The wife of imprisoned swindler Bernard Madoff was sued on Wednesday by the trustee recovering money for investors defrauded in Wall Street's biggest investment fraud, court documents showed.

ConocoPhillips reported a 76 percent drop in quarterly profits on Wednesday, as oil prices fell sharply from a year ago and the U.S. oil major's refining business posted a loss as heavy fuel supplies and weak demand hurt margins.

Commodity Futures Trading Commission Chairman Gary Gensler said on Wednesday he supports exemptions for bona fide hedgers despite some broader concerns as the regulatory agency moves toward clamping down on excessive speculation in energy futures trading.

Stocks ticked toward session lows on Wednesday after the Federal Reserve's snapshot of economic conditions showed labor market weakness persisted even though the economic slowdown is moderating.

The U.S. Federal Reserve will not have to raise rates prematurely to head off inflation because of the central bank's ability to pay interest on reserves, New York Fed president William Dudley said on Wednesday.

U.S. stocks slipped on Wednesday as a steep drop in U.S. durable goods orders last month underscored fears of more economic weakness, and falling commodity prices hurt shares in the energy and resources sectors.

U.S. stocks slid on Wednesday as a steep drop in U.S. durable goods orders in June fueled fears of more economic weakness and falling commodity prices hit shares in the energy and resources sectors.

Canada will not make a decision on whether to review Nortel Networks' $1.13 billion sale of wireless assets to Sweden's Ericsson until after a 21-day appeal period is complete, Canadian Industry Minister Tony Clement said on Wednesday.

$2.2 trillion of properties acquired or refi nanced after this point in early 2004 have lost value since the transaction.

The Aussie dollar appeared to be heading back below the 82 cent mark yesterday before comments from the RBA governor Stevens sparked a wild buying frenzy in afternoon trade. Speaking at a charity lunch his comments on the prospects for the local economy he said he can “imagine more upside risks to the economy to balance out downside risks”, a signal that rates are more likely to go up rather than down from here.

Mutual fund giant Fidelity Investments said on Wednesday it struck a second deal to offer brokerage customers shares of initial public offerings, this time with Deutsche Bank AG.

Big Web Ad Deal Sealed, Economy's Factories Get to Work, Oil Supply Glut

Companies that service risky residential mortgages are warning U.S. officials that a key program to slow foreclosures may push some financing costs higher and derail their efforts, said a leading subprime firm.

The United States said on Wednesday no deal had been reached so far in talks to settle a tax evasion dispute with UBS AG and it expected a trial against the Swiss bank to go ahead as scheduled on Monday.

Tata Steel Ltd, the world's No. 8 steel maker by output, on Wednesday reported a larger-than-expected 47 percent fall in June quarter profit from its Indian operations as realisations fell sharply on lower commodity prices.

Senior U.S. housing officials and leading mortgage companies met on Tuesday to set explicit goals for preventing evictions and helping struggling borrowers with their home loans.

A Taiwanese proposal for an agreement establishing closer links with China could add up to 1.72 percent to Taiwan's gross domestic product, according to a think tank report commissioned by the economics ministry.

BMW confirmed it would leave Formula One racing at the end of 2009 for image reasons as the maker of sporty luxury cars wants to focus on sustainability and the environment. We are of the opinion that the premium segment has to remain a positive role model within our society, Chief Executive Norbert Reithofer said in a statement on Wednesday.