IBT Staff Reporter

Federal Reserve Chairman Ben S. Bernanke said on Wednesday unemployment is likely to increase following the release of the recent unemployment claims data from the labor market in May.

A professor from a British university has created a new way to help students to learn math by teaching them magic tricks.

The Obama administration plans to unveil on June 17 its sweeping plan to overhaul financial regulation, according to a source familiar with thinking at the U.S. Treasury Department.

The weak labor market is hurting U.S. cities -- centers of many industries and large housing markets -- with 93 metropolitan areas registering an unemployment rate of at least 10 percent in April, according to Labor Department data released on Wednesday.

American Express Co said on Wednesday that it would suffer less than its rivals from a new U.S. law curbing certain practices by credit card companies because it depends less on interest paid by customers.

Biogen Idec Inc officials told shareholders on Wednesday they did not yet know if Carl Icahn -- who has called for the biotechnology company to be split in two -- had won seats on the board.

Yahoo Inc CEO Carol Bartz elaborated on her views on a potential Internet search partnership with Microsoft Corp, even as she stressed that Yahoo was not under any pressure to do a deal and downplayed Microsoft's newly-released search engine.

Top executives of bankrupt General Motors Corp and Chrysler LLC defended slashing their dealer networks, telling Congress on Wednesday that eliminating more than 2,300 dealerships was crucial to saving the companies.

Two more people have died from the H1N1 flu in New York City, bringing the city's toll to seven from the new virus that has infected thousands of people worldwide, health department officials said on Wednesday.

The chief executives of General Motors Corp and Chrysler LLC told Congress on Wednesday that slashing dealer networks were crucial for saving their companies.

Global airlines, still reeling from the recent flu-virus scare, have stepped up efforts to protect passengers from health risks on international flights.

Executives of Biogen Idec Inc said on Wednesday they did not yet have the results of a shareholder vote on a slate of four dissident directors nominated by Carl Icahn.

Federal Reserve Chairman Ben Bernanke sounded a cautiously upbeat note on the U.S. economy on Wednesday but warned that corralling government debt was vital to ensuring the nation's long-term health.

Former U.S. Federal Reserve Chairman Alan Greenspan on Wednesday questioned the ability of a potential new systemic risk regulator to forecast future financial crises.

An Internet search deal between Yahoo Inc and Microsoft Corp could provide important benefits in scale and yield up to $700 million in cost savings, Yahoo CEO Carol Bartz said.

Nokia's popularity among teenagers is fading, as the world's top handset maker has failed to introduce attractive mass-market models, according to a survey by networking site Habbo Hotel.

Executives of Biogen Idec Inc said on Wednesday they did not yet have the results of a shareholder vote on a slate of four dissident directors nominated by Carl Icahn.

Targeted advertising firm Phorm is launching a service that promises to direct consumers who choose to participate to the most relevant parts of Websites they visit, based on their browsing history.

The European Union announced Wednesday that it will initiate a new strategy ‘shared commitment for employment’ to help state members tackle the employment impact of the economic crisis.

French officials said on Wednesday it proves hopeless to find the Air France's black boxes on the ocean floor.

KeyCorp and Huntington Bancshares Inc , two of Ohio's largest banks, announced plans on Wednesday to raise common equity, as they try to position themselves to repay federal bailout money.

Princeton University confirmed that there was no armed gunman on the campus on Wednesday morning, following a earlier false alarm.

Toyota Motor Corp. said Wednesday it will lease approximately 500 plug-in hybrid vehicles worldwide which are based its the third-generation

The United States may have hit a bump on the road to economic recovery, according to data released on Wednesday, with half a million private sector jobs lost in May and mortgage applications falling last week in the face of rising interest rates.

U.S. stock slid on Wednesday, snapping a four-day winning streak as retreating oil prices sunk shares of energy companies, while signs of further contraction in the service sector doused hopes the recession is abating.

Saks Inc shareholders voted on Wednesday to call on the struggling upscale retailer to put directors up for election annually, eliminating a staggered board with three-year terms, in a move to make the board more accountable.

As the 20th anniversary of the June 4 demonstration approaches, Tiananmen still remembers the cruel crackdown on pro-democracy protesters. Hundreds of people were killed on June 4, 1989.

Biogen Idec Inc officials called a three-hour recess in their annual meeting on Wednesday, a move activist investor Carl Icahn blasted as an effort to hijack the shareholder voting.

Researchers at the University of Rochester, NY recently made the surprising discovery that money, looks, and fame don't actually make people happier. The researchers tracked 147 college graduates by investigating their goals and happiness a year after they had graduated.