IBT Staff Reporter

Hyundai Motor Group, the world's No.5 automaker, said on Wednesday it would invest $3.3 billion in green projects to meet the government's stricter fuel efficiency and emission requirements, joining a recent series of eco-friendly investments by South Korean firms.

The United States is concerned about the possible transfer of nuclear technology from North Korea to military-ruled Myanmar, U.S. Secretary of State Hillary Clinton said on Wednesday.

Energy Conversion Devices Inc., a maker of thin-film flexible solar panels, will acquire Solar Integrated Technologies, Inc., for $16.3 million, the companies said in a statement Wednesday.

Delta Air Lines Inc, the world's biggest carrier, said on Wednesday it no longer expects to make money this year, while smaller crosstown Atlanta rival Airtran Holdings posted a higher-than-expected profit in the second quarter.

U.S. chipmaker Intel Corp on Wednesday appealed to Europe's second highest court against an antitrust finding and a 1.06 billion euro ($1.50 billion) fine levied by EU regulators.

PepsiCo Inc posted a bigger-than-expected quarterly profit, helped by growth in its international business, but revenue fell short of expectations as North American beverage sales fell, putting pressure on the company to close deals to buy its two big U.S. bottlers.

Major automakers asked the U.S. Environmental Protection Agency not to approve higher blends of ethanol in gasoline until the agency has adequate test results showing the fuel would not damage vehicles.

Bernanke on the Hill; Earnings Watch; Housing Index

Pfizer Inc said on Wednesday its second-quarter earnings fell 19 percent, as the strong dollar crimped revenue across its product line.

U.S. stock index futures pointed to a lower open on Wednesday after a batch of corporate earnings mostly beat lowered expectations, but the key financial sector continued to show signs of weakness.

The Obama administration's plan to form a new Consumer Financial Protection Agency, a central part of its bold regulatory reform agenda, sailed onto the shoals of congressional delay on Tuesday.

The moribound U.S. job market still

The global recession has now passed its nadir but the financial crisis still has some time to run and it will be a year at least before banks start lending again in earnest, a Reuters poll showed on Wednesday.

Alternative energy jobs can provide vocations across many sectors of the economy but policy to spark them can take years to develop, U.S. governors told a Senate committee on Tuesday.

Federal Reserve Chairman Ben Bernanke told the market just what it wanted to hear on Tuesday when he promised the central bank has the will and the tools to guide the economy out of recession without spurring inflation.

Three months before his death, Michael Jackson committed to co-directing and financing a movie -- a poignant drama about foster children -- and planned to get started as soon as he completed his London concerts.

(Corrects revenues figures in 4th paragraph)

Delta Air Lines Inc , the world's biggest carrier, reported a quarterly loss on Wednesday and said it no longer expected to post a profit for 2009 as the recession continued to affect air travel.

Iraqi Prime Minister Nuri al-Maliki meets President Barack Obama on Wednesday in a visit aimed at asserting Iraq's newfound sovereignty and encouraging foreign investors to return to the war-ravaged country.

The Housing Price Index will be released at 10am EST today by the Office of Federal Reserve Housing Enterprise Oversight. The index provides an estimated value of housing market conditions. It is an important indicator as the housing market is considered as a sensitive factor to the US economy.

SunTrust Banks Inc , a large U.S. Southeast regional bank, posted its third straight quarterly loss on Wednesday, hurt by an increase in soured commercial and residential loans.

Eli Lilly and Co reported far better second quarter earnings on Wednesday on higher sales of its prescription drugs, and raised its 2009 earnings forecast

CIT Group Inc said it may post a loss exceeding $1.5 billion for the second quarter and could file for bankruptcy protection if bondholders reject a debt restructuring, raising new fears that the lender to some 1 million businesses might fail.

U.S. stock index futures pointed to a lower open on Wednesday after disappointing quarterly banking results dented recent optimism about the financial sector's recovery.

SunTrust Banks Inc posted its third straight quarterly loss on Wednesday , hurt by an increase in soured commercial and residential loans.

Wells Fargo & Co on Wednesday said quarterly profit increased 47 percent as strong mortgage banking results and the acquisition of Wachovia Corp offset rising credit losses.

Delta Air Lines Inc , the world's biggest carrier, reported a quarterly loss on Wednesday and said it was not planning for any meaningful rebound this year as the recession hurts air travel.

Whirlpool Corp reported a lower second-quarter profit on Wednesday as sales at the world's biggest appliance maker crumbled in the global economic slowdown.

General Electric Co said on Wednesday its finance arm has been cleared to exit the government's Temporary Liquidity Guarantee Program, in a show of strength as rival business lender CIT Group Inc faces possible bankruptcy.