IBT Staff Reporter

Federal Reserve policy-makers agreed at their March 17-18 meeting that substantial additional purchases of a range of longer-term assets was appropriate to deal with a steep drop in economic activity across all sectors, minutes of the meeting showed on Wednesday.

France is a country located in Western Europe. Clockwise from the north, France borders Belgium and Luxembourg to the northeast, Germany and Switzerland to the east, Italy to the south-east and Spain to the south-west, across the Pyrenees mountain range (the small country of Andorra lies in between the two countries).

Oil rose more than $1 a barrel on Wednesday after a U.S. government report showed a surprise draw in commercial distillate stockpiles and equities markets rallied.

Stocks rose on Wednesday as a proposed takeover in the homebuilder sector boosted optimism about share valuations and technology shares jumped on hopes of a recovery in both business and consumer spending.

Proposals for curbing short selling, blamed by some U.S. lawmakers and executives for worsening the financial crisis and driving down share prices, will be issued for public comment.

Banks and cellphone companies have a long way to go to persuade U.S. consumers to use their cellphones for banking, as many worry about security and extra fees and others are not even aware they can.

Stocks rose on Wednesday, lifting the Nasdaq 2 percent, as investors snapped up technology shares following the market's two-day sell-off.

The U.S. Treasury said on Wednesday some life insurers have met requirements for government capital investments under an existing rescue plan, clarifying that it is not launching a new bailout for the sector.

General Motors Corp is working hard to meet a June 1 deadline to present an accelerated restructuring plan that is vital for the company whether it goes bankrupt or not, a senior executive said on Wednesday.

Somali pirates hijacked a U.S.-flagged, Danish-owned container ship on Wednesday with 20 American sailors on board, but a Pentagon official said the crew appeared to have retaken control of the vessel.

Leaders of California's scenic Santa Barbara County, site of a 1969 oil spill that galvanized the modern environmental movement, voted on Tuesday to reverse a decision backing new offshore energy development.

Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, the Wall Street Journal reported on Wednesday.

Banks and cell phone companies have a long way to go to persuade U.S. consumers to use their cell phones for banking, as many worry about security and extra fees and others are not even aware they can.

U.S. banks' first-quarter results will show that losses from credit cards and commercial and real estate loans have not yet peaked, and perhaps dash hopes that the worst of the banking crisis has passed.

U.S. banks' first-quarter results will show that losses from credit cards and commercial and real estate loans have not yet peaked, and perhaps dash hopes that the worst of the banking crisis has passed.

The U.S. economy is grim, and the Federal Reserve is duty bound to apply every tool to clean up the financial system and clear a path for a return to sustainable growth, Richard Fisher, president of the Dallas Fed, said on Wednesday.

The U.S. Treasury said on Wednesday some life insurers have met requirements for government capital investments under an existing rescue plan, clarifying that it is not launching a new bailout for the sector.

U.S. stocks rose on Wednesday, lifting the Nasdaq up more than 2 percent, as investors snapped up technology shares following the market's two-day sell-off.

Tens of thousands of protesters marched through central Bangkok Wednesday, demanding the resignation of the government. The demonstration threatened to set off a new round of political instability which may hamper the government’s three-year, $44 billion stimulus plan it unveiled last month.

Brian Moynihan, who heads Bank of America's (BAC.N) investment banking and wealth management divisions, is emerging as a potential successor to Chief Executive Kenneth Lewis, the Wall Street Journal said.

U.S. Interior Secretary Ken Salazar highlighted the potential of offshore wind power in the Atlantic Ocean at a public hearing in Atlantic City, signaling it could replace the amount of energy generated by 3,000 coal-fired plants.

U.S. securities regulators were considering proposed curbs on short selling at a meeting on Wednesday, weighing steps that could restrict a type of investing blamed by some lawmakers and executives for worsening the financial crisis and driving down share prices.

Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, the Wall Street Journal reported on Wednesday.

Prime Minister Gordon Brown said on Wednesday the upcoming budget will contain environmental measures to aid recovery from recession, including creating thousands of green jobs.

The U.S. Securities and Exchange Commission voted unanimously on Wednesday to issue proposed curbs on short selling, including a return of the uptick rule, for a 60-day public comment period.

The General Assembly of UN announced today that it will convene a global summit in June to assess the impact of the world financial crisis on development.

Shares of Alcoa Inc rose more than 2 percent on Wednesday, as some analysts applauded the aluminum maker's cost cuts and results at its engineered products unit.

Shares of Alcoa Inc rose more than 2 percent on Wednesday, as some analysts applauded the aluminum maker's cost cuts and results at its engineered products unit.

Constellation Brands Inc posted a quarterly profit that just missed Wall Street estimates, as a 16 percent drop in wine sales in Europe during the holiday season offset a slight gain in North America, sending shares down 4 percent.