IBT Staff Reporter

Oil prices hit a six-month high near $64 a barrel on Wednesday after Saudi Arabia, OPEC's biggest member, said the global economy had strengthened enough to cope with oil at $75 to $80 a barrel.

Honda Motor Co. will respond to growing demand for by hybrid cars by launching its hybrid Fit vehicle in the fall of 2010, 18 months sooner than previously announced, Japanese newspaper Nikkei said today without citing sources.

The number of problem U.S. banks and thrifts soared to 305 in the first quarter of 2009, up 21 percent from 252 in the prior quarter and marking the highest number since 1994, the Federal Deposit Insurance Corp said on Wednesday.

The European Commission will launch a new website, PRESSEUROP.EU, with the support of a consortium coordinated by Courrier International

Ascent Solar Technologies Inc said Wednesday it has agreed to provide its thin-film photovoltaic modules for an energy efficient unmanned aerial vehicle being developed by Bye Aerospace.

Stocks fell on Wednesday as rising yields on U.S. government debt sparked worries about how borrowing costs could be affected, reversing a more than 2 percent rally in stocks Tuesday.

General Motors Corp moved closer to filing the largest U.S. industrial bankruptcy after a crucial bond exchange proposal failed and as officials in Germany neared a decision on which company would take over GM's European brand Opel.

Sales of previously owned U.S. homes rose in April, a report showed on Wednesday, providing more evidence the housing market is stabilizing and backing views the recession is nearing an end.

Three former senior officers of Cardinal Health Inc reached a settlement with the U.S. Securities and Exchange Commission over civil fraud charges they ran an earnings and revenue scheme, lawyers for the defendants said on Wednesday.

OPEC Secretary General Abdalla El-Badri said Thursday it was not economically plausible for oil producers to invest when the price of a barrel is below $70 per barrel, according to CNBC.

Intel Corp, the world's largest chipmaker, said the record 1.06 billion euro ($1.5 billion) fine imposed by EU regulators for antitrust violations would not cause it to cut investment or slash its dividend.

Three former senior and accounting officers of Cardinal Health Inc ran an earnings and revenue scheme that falsely portrayed company results, the U.S. Securities and Exchange Commission said on Wednesday.

The U.S. Congress has started work on a broad overhaul of the healthcare system in a rare spirit of optimism, but brewing battles over its cost, scope and structure could still scuttle hopes for a solution.

White House budget director Peter Orszag said Friday reforming healthcare through higher costs is not the administration’s aim.

Apple has quietly introduced updates to its popular white MacBook with the introduction of a new model, labeled MC240.

Some of the world’s most creative artwork lives—often temporarily—on buildings, walls, and sidewalks. Here’s where to find it.

From artful hand mirrors to voodoo love dolls and “water libraries,” in-room treats are getting a novel upgrade.

Four of MTN's top 25 shareholders would reject a tie-up with India's Bharti Airtel based on terms unveiled this week and other big investors are unsure about the deal to create a telecoms giant.

The number of problem U.S. banks and thrifts rose to 305 in the first quarter of 2009, up 21 percent from 252 in the prior quarter, marking the highest number since 1994, the Federal Deposit Insurance Corp said on Wednesday.

A Cisco Systems Inc executive said the company's high-end router CRS-1 is gaining market share and demand is likely to be strong through 2010 despite a weak economy.

Corrects first paragraph to 21 percent increase instead of 40 percent increase

T+L sampled them plain, with cheese, and with bacon across the country for our definitive list of spots to experience burger heaven.

British Prime Minister Gordon Brown sent birthday wishes to Myanmar pro-democracy leader Aung San Suu Kyi on Wednesday, joining an online campaign to mark her 64th birthday next month.

Oil prices rose to a six-month high above $63 a barrel on Wednesday after Saudi Arabia, OPEC's biggest member, said the global economy had strengthened enough to cope with oil at $75-$80 a barrel.

Sales of existing homes in the United States rose 2.9 percent in April, according to an industry survey on Wednesday that supported views the three-year housing recession was near a bottom.

Top office products retailer Staples Inc reported slightly higher-than-expected quarterly earnings on Wednesday, bolstered by its Corporate Express unit.

The European Union proposed on Wednesday creating regulatory bodies to oversee financial supervision across national borders in a shake-up to protect investors and prevent another global credit crunch.

With first-time buyers continuing to influence the housing market, the National Association of Realtors released a report on Wednesday showing that existing home sales in the month of April increased by slightly more than economists had been expecting.

The Gen. Hoyt S. Vandenberg ship last used by the U.S. Air Force to track missiles and spacecraft has been sunk in the Florida Keys, creating the world’s second largest manmade reef.