IBT Staff Reporter

China's Wuhan Iron & Steel Inc (WISCO) made a nonbinding offer of $400 million for a minority stake in Brazilian miner MMX and its subsidiary MMX Sudeste Mineracao, MMX said on Tuesday in its website.

Jun 24, 2009

One of the lessons that the global financial crisis has taught the world is that the top reserve currencies should be kept stable, Chinese Foreign Minister Yang Jiechi said on Wednesday.

Jun 24, 2009

President Barack Obama on Wednesday signed into law a $106 billion measure to fulfill his plans to wind down the war in Iraq and ramp up operations in Afghanistan where fighting against militants is intensifying.

Jun 24, 2009

Top members of Palestinian President Mahmoud Abbas's Fatah movement agreed on Wednesday to hold its first congress in 20 years in August in Bethlehem in the Israeli-occupied West Bank.

Jun 24, 2009

It was 26 years ago and Cuba's then-leader, Fidel Castro, foresaw today's global economic crisis, a Cuban official said on Wednesday.

Jun 24, 2009

Bed Bath & Beyond Inc on Wednesday reported an unexpected rise in quarterly profit as the retailer cut costs to offset slumping consumer demand for home furnishings, and its shares rose 6 percent.

Jun 24, 2009

Israeli Prime Minister Benjamin Netanyahu said on Wednesday he hoped to reach an understanding with Washington over Jewish settlements in the West Bank, but an Israeli official predicted the dispute would be hard to resolve.

Jun 24, 2009

The United States and Canada must do more than currently proposed to tackle greenhouse gases, France says in a position paper ahead of global climate talks in Copenhagen this December.

Jun 24, 2009

Nissan Motor Co. will unveil its new electric car on August 2 in Japan but just as a prototype, according to British site AutoCar.

Jun 24, 2009

Exelon Inc, Wisconsin Energy Corp., Goldman Sachs and First Solar Inc were among the stocks with links to the clean energy industry which appealed to investors on Wednesday.

Jun 24, 2009

If 2008 was a tough year for Federal Reserve Chairman Ben Bernanke, 2009 is looking no easier as political battles pile on top of tough economic challenges.

Jun 24, 2009

The Federal Reserve sought to hide its involvement in Bank of America Corp's acquisition of Merrill Lynch as Merrill's financial condition worsened, the top Republican on the House Oversight and Government Reform Committee said on Wednesday.

Jun 24, 2009

The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.

Jun 24, 2009

Time Warner Inc and Comcast Corp have banded together to test ways to allow people to watch more TV shows over the Web, while making sure they keep paying for their traditional cable or satellite TV services.

Jun 24, 2009

MetroPCS Communications Inc on Wednesday unveiled a discounted international calling service, its latest effort to appeal to cost conscious U.S. consumers.

Jun 24, 2009

Nike Inc reported a worse-than-expected global decline in forward orders sending shares of the world's largest athletic shoe and clothing company down 4.1 percent.

Jun 24, 2009

Warren Buffett said on Wednesday that the U.S. economy has no bounce and will take time to recover, but there is no risk of deflation to push it further into despair.

Jun 24, 2009

The Federal Reserve on Wednesday stuck to its huge program of buying government and mortgage debt and said it saw signs that the deep U.S. recession was easing.

Jun 24, 2009

The wife of South Carolina governor, Mark Sanford, said in a statement Wednesday afternoon her and the governor had agreed on a trial separation to ultimately strengthen the marriage.

Jun 24, 2009

The world's rich lost a fifth of their wealth in 2008 and the number of people with fortunes of more than $1 million fell 15 percent as the financial crisis wiped out two years of growth, a study showed on Wednesday.

Jun 24, 2009

Sinopec Group launched China's biggest-ever foreign oil acquisition on Wednesday, agreeing to buy Addax Petroleum Corp for about C$8.27 billion ($7.24 billion) to secure the Swiss oil explorer's high-potential oil blocks in West Africa and Iraq.

Jun 24, 2009

Iran's state-run media reported Wednesday that the gunman who killed Neda may have mistaken her for the sister of an Iranian terrorist.

Jun 24, 2009

An unexpected jump in U.S. durable goods orders last month backed hopes the economy was healing, a prospect cautiously supported by the Federal Reserve on Wednesday.

Jun 24, 2009

Nike Inc posted better-than-expected quarterly earnings but its forward orders fell 12 percent, sending shares of the world's largest athletic shoe and clothing company down 5 percent.

Jun 24, 2009

Iran's interior minister Sadeq Mahsouli accused the US Central Intelligence Agency (CIA) of helping to fund rioters, the semi-official Fars News Agency reported on Wednesday.

Jun 24, 2009

The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.

Jun 24, 2009

Citigroup Inc is raising salaries companywide to offset restrictions on bonuses after the troubled bank accepted $45 billion of federal bailout money, but the move could backfire if it drives top-performing workers to other employers.

Jun 24, 2009

South Carolina Governor Mark Sanford today admitted to having an extended affair with an Argentinean woman, and announced his resignation from the Chairmanship of the Republican Governor’s Association at press conference, effectively ending his political prospects for higher office.

Jun 24, 2009

Top U.S. officials urged China Wednesday to abandon its proposal to require Internet filters installed on personal computers starting next month, warning the step could violate world trade rules.

Jun 24, 2009