IBT Staff Reporter

The only viable option to save General Motors Corp is a sale of its main assets to a New GM backed by the federal government, a U.S. Treasury official told a bankruptcy court on Wednesday as the automaker sought approval for the deal.

Ford Motor Co said on Wednesday that U.S. sales fell 10.9 percent in June for all of its brands, at the top of its expectations for the only U.S. automaker not supported by emergency government loans.

Analysis surveyed by StatCounter.com on Wednesday said Google still dominates the search engine markets despite its slide back from April from 79.07 to 78.48 percent share last month.

Members of the Jackson's family have met with officials from the Los Angeles Police Department (LAPD), and California Highway Patrol (CHP) on Tuesday afternoon to discuss plans about when and where Michael Jackson's funeral services to take place.

U.S. manufacturing mustered its highest level of activity in nearly a year in June but unexpected weakness in private sector employment signaled how slow an economic recovery might be, reports released on Wednesday showed.

South Korea's LG Display Co Ltd said on Wednesday it was considering building an additional production line for flat-screen TV panels as the LCD industry slowly recovers due to healthy TV sales.

South Korea's LG Display Co Ltd said on Wednesday it was considering building an additional production line for flat-screen TV panels as the LCD industry slowly recovers due to healthy TV sales.

The first H1N1 infection found to be resistant to the antiviral drug Tamiflu represents an isolated case with no current implications for public health, the World Health Organization (WHO) said on Tuesday.

U.S. manufacturing mustered its highest level of activity in nearly a year in June but unexpected weakness in private sector employment signaled how slow an economic recovery might be, reports released on Wednesday showed.

General Motors said on Wednesday its China vehicles sales rose 38 percent in the first half of 2009 from a year earlier as China's stimulus policies boosted automobile demand.

A total of $231 million has so far been committed to pay defrauded investors of imprisoned financier Bernard Madoff, the group compensating his former customers said on Wednesday.

General Electric Co is teaming up with U.S. biotech company Geron Corp to use stem cells to develop products that could give drug developers an early warning of whether new medicines are toxic.

Facing strong resistance at home and abroad, China on Tuesday delayed implementation of a controversial rule that requires all manufacturers to install Internet filtering software on all new computers that are shipped and sold in China.

California's lawmakers failed to agree on a balanced budget by the start of its new fiscal year on Wednesday morning, clearing the way to suspend payments owed to the state's vendors and local agencies, who instead will get

Stocks rose on Wednesday as manufacturing data from key global economies pointed to improving economic conditions.

UBS can still settle a damaging U.S. tax case even though Washington is pushing ahead with a lawsuit to force the Swiss bank giant to identify offshore clients, the Swiss Finance Minister said.

Chinese Web users flooded to a trendy art zone cafe on Wednesday to celebrate a last-minute halt to a rollout of government-sponsored filtering software, and make a stand for freedom of expression in the Communist-run state.

European safety inspections of Yemenia aircraft revealed significant findings in the area of maintenance, the European Commission told the airline in a letter after one of its airliners crashed in the Indian Ocean.

The International Monetary Fund (IMF) has approved a $176 million loan to Mozambique to help cushion the southern African country from the effects of the economic slowdown, the IMF said on Wednesday. IMF representative Felix Fischer said the loan would be payable in 10 years, after an interest-free grace period of five years, followed by annual rate of 0.5 percent.

Stocks advanced on Wednesday as a weaker U.S. dollar lifted commodity prices, boosting shares of natural resource companies, including oil and mining stocks.

The only viable option to save General Motors Corp is a sale of its main assets to a New GM, a U.S. Treasury official told a bankruptcy court on Wednesday as the automaker sought approval for the deal.

Celesio's main shareholder Haniel put the brakes on the German drug distributor's foray into the Brazilian market, throwing into doubt a takeover that markets had cheered.

Tens of thousands of people marched on Wednesday in Hong Kong's biggest annual protest calling for greater democracy as well as improved economic relief measures and investor protection during the financial crisis.

Iran, stung by European Union criticism of its handling of post-election unrest, on Wednesday accused the 27-nation bloc of meddling and demanded an apology before any more talks on Tehran's disputed nuclear program.

French and U.S. aircraft hunted on Wednesday for survivors from a plane that crashed off Comoros, while in Paris expatriates from the Indian Ocean archipelago tried to block another flight by the same airline.

Honduras faced growing pressure to reinstate ousted President Manuel Zelaya on Wednesday after the Organization of American States set a 72-hour deadline to end a crisis triggered by a military coup.

Pending sales of previously owned U.S. homes rose slightly in May, the fourth straight monthly gain, a real estate trade group said on Wednesday.

U.S. mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30 percent, data from an industry group showed on Wednesday.

U.S. private sector job cuts fell in June to their lowest in eight months, but they still came in more than expected and the economy may be on track to lose another one million workers by year-end.