IBT Staff Reporter

Shares of U.S. auto suppliers rose sharply on Wednesday as news that Italian automaker Fiat SpA had completed the purchase of Chrysler LLC's strongest assets erased fears that the U.S. car maker could face liquidation if the deal did not go through.

Microsoft Corp is getting ready to unveil a long-anticipated free anti-virus service for PCs that will compete with products sold by Symantec Corp and McAfee Inc.

The global economic slowdown has claimed another victim: energy use. Consumption of primary energy around the world last year grew by the smallest amount since 2001 while the U.S. saw its steepest drop in 27 years, according to a report released Wednesday by British oil giant BP.

U.S. Treasury Secretary Timothy Geithner said on Wednesday the Obama administration wants Congress to pass new laws giving securities regulators power to force companies to let shareholders have more say in setting executive pay levels.

U.S. demand for residential solar power installations is surging despite an economic recession, thanks to government financial incentives, some easing in credit availability, and increasing public recognition of its environmental benefits, industry executives said on Tuesday.

The European Commission said Wednesday it has decided to impose a fine of €20 million ($28 million) on Electrabel for acquiring control of Compagnie Nationale du Rhone (CNR) without prior commission approval.

“The worst is to come” as commercial mortgage defaults will rise in the two or three years after the current economic slowdown ends, the chief investment officer at U.S. insurer and financial services provider Metlife Inc said on Wednesday, according to Bloomberg.

Home Depot Inc raised its 2009 profit forecast as the biggest home-improvement chain said Wednesday it sees better margins this year through improved efficiencies.

Treasury secretary, Timothy Geithner, said on Wednesday the government is not trying to cap executive pay following the proposals it made on pay packages.

Job-seekers are using unusual gimmicks to grab the attention of potential employers, such as in one case sending a shoe along with a resume to get a foot in the door, said a survey released on Wednesday.

As the financial crisis continues to dampen the global economy, a popular online microlender to third world countries, Kiva.org, has now begun to offer loans to low-income entrepreneurs in the U.S.

Stocks fell on Wednesday, dragged down by consumer, technology and industrial issues, after oil surged to a 7-month high, triggering worries it may curtail spending.

A plaque on the wall of the guard booth at the gate of the Pearl Continental Hotel in the Pakistani city of Peshawar reads: This hotel is protected by latest security system.

A former U.S. State Department official and his wife, accused of spying for the Cuban government for nearly 30 years, were ordered Wednesday to be kept in jail until their trial.

U.S. stocks fell on Wednesday, dragged down by consumer, technology and industrial issues, after oil surged to a 7-month high, triggering worries it may curtail spending.

U.S. Treasury Secretary Timothy Geithner said on Wednesday the Obama administration wants to give the Securities and Exchange Commission power to give shareholders a stronger say over executive pay.

For many people, sampling local food is the most important part of travel. For others it’s the bane of their trip, a massive stress that leads them all over their chosen countries in search of a familiar lunch.

Upmarket online fashion retailer Net-A-Porter.com reported a more than 230 percent rise in 2008 profit after developing strong relationships with luxury fashion houses and new and existing clients.

“The worst is to come” as commercial mortgage defaults will rise in the two or three years after the current economic slowdown ends, the chief investment officer at U.S. insurer and financial services provider Metlife Inc said on Wednesday, according to Bloomberg.

The Obama administration on Wednesday will name a pay czar with the power to reject compensation plans for top employees at companies receiving exceptional government aid, an administration official said on Wednesday.

Oil topped $71 a barrel on Wednesday for the first time in seven months on signs demand for crude could be recovering, with U.S. inventories falling by more-than-expected last week and the Department of Energy raising its forecast for global demand.

Stocks fell on Wednesday, with the Nasdaq dropping 1 percent, on concern that surging oil prices may hurt an economic recovery, pulling down shares of technology companies and big manufacturers.

Procter & Gamble Co said on Wednesday that Robert McDonald would become its next chief executive, while A.G. Lafley remains chairman as the world's largest consumer products maker navigates through the global downturn.

The U.S. trade gap widened to $29.2 billion in April as exports weakened again in a reflection of waning global demand, a U.S. government report on Wednesday showed.

Chrysler LLC completed the sale of its strongest assets to a group led by Fiat SpA on Wednesday, reviving the 84-year-old automaker that was down to its last dollars and facing liquidation late last year.

A French woman pleaded guilty on Wednesday to killing a French banking scion after kinky sex and an argument over $1 million, saying it was a crime of passion.

Swedish and Finnish divers have located the wreck of a Soviet submarine sunk during World War Two in the Baltic Sea, the team said on Tuesday.

Prime Minister Gordon Brown will unveil plans on Wednesday to clean up parliament, whose authority has been damaged by an expenses scandal, and try to regain the initiative after attempts to oust him.

The Air France 447 mystery may never be solved beyond a shadow of doubt, but there are some telling, tragic clues to consider based on the airplane's systems and the conditions it encountered.