IBT Staff Reporter

New U.S. orders for long-lasting manufactured goods rose in February for the first time in seven months, according to a government report on Wednesday brought some cheer to an economy mired in recession.

Under new proposals, the UK government could monitor the contacts people make on social networking sites like Facebook, MySpace and Bebo.

Treasury Secretary Timothy Geithner said on Wednesday the U.S. dollar is still the world's reserve currency and will remain so for a long time, though he also expressed openess to expanded use of an IMF currency basket.

New U.S. orders for long-lasting manufactured goods unexpectedly rebounded in February, rising for the first time in seven months, according to a government report on Wednesday that could bring some cheer to an economy mired in recession.

Treasury Secretary Timothy Geithner on Wednesday said he is quite open to China's suggestion of moving toward a currency system linked to the International Monetary Fund's Strategic Drawing Rights.

Social network MySpace and British telecoms provider BT will be among the first companies to offer a new type of Web domain for their users to manage their contact details live online.

Treasury Secretary Timothy Geithner on Wednesday said he will soon outline proposals for new, tougher requirements on major financial firms to protect the financial system and new rules to prevent financial fraud and abuse against consumers and investors.

American International Group Inc appeared to advise staffers in its troubled Financial Products division that, if enough returned bonuses than it was unlikely their names would be publicly released, according to the Wall Street Journal.

Dell Inc is introducing new server and storage products aimed at cost-conscious companies, betting that its emphasis on value can help win market share as competition intensifies.

Corrects name of AIG CEO in last paragraph

American Express Co may have to set aside a significant amount of money to cover more losses in the next few quarters as U.S. credit card defaults are expected to remain high, analysts at J.P. Morgan Securities said, as they reinitiated the stock with an underweight rating.

Wall Street bank Goldman Sachs said on Wednesday it has no need to raise cash by selling a big stake in Industrial and Commercial Bank of China , the world's most valuable lender.

A new videogame company is aiming to challenge the big three console makers by providing a cloud-based gaming system promising on-demand access to games and no lag time.

The world's top cell phone maker Nokia has bought a minority stake in Obopay, enabling the U.S. mobile money firm to extend its product offering and geographical presence.

President Barack Obama said on Tuesday he was seeing signs of progress in his drive to lead the United States out of economic crisis as he sought to reassure recession-weary Americans he was on the right track.

Ford is holding detailed discussions with potential buyers of Volvo cars, and has been pleased by the number and quality of parties interested in the Swedish carmaker, a spokesman said on Wednesday.

Wall Street looked set to rise at the open on Wednesday as investors were encouraged by data showing signs the economic downturn was moderating, and by positive comments from President Barack Obama.

Thin-film solar maker First Solar Inc will build a 30-megawatt photovoltaic power plant with power cooperative Tri-State Generation and Transmission Association in Northeastern New Mexico, the companies said on Tuesday.

U.S. electricity prices are likely to rise 15 to 30 percent if a national cap on carbon dioxide emissions is instituted, according to a report by Moody's Investors Service.

The Obama Administration is carving out renewable energy zones across the country and offshore, and is preparing to work with critics who object to wind turbines or solar farms near wilderness or tourist areas, Interior Secretary Ken Salazar said on Tuesday.

Security at the G20 summit next week will rest in part on Britain's pervasive closed circuit cameras, but in future pre-emptive surveillance could extend to the entire country's personal data.

U.S. mortgage applications jumped last week as record low interest rates spurred a surge in demand for home refinancing loans, data from an industry group showed on Wednesday.

New U.S. orders for long-lasting manufactured goods unexpectedly rebounded in February, rising for the first time in seven months, according to a government report on Wednesday that could bring some cheer to an economy mired in recession.

Stock index futures added to gains on Wednesday after data showed new U.S. orders for long-lasting manufactured goods unexpectedly rebounded in February.

Stock index futures added to gains on Wednesday after data showed new U.S. orders for long-lasting manufactured goods unexpectedly rebounded in February.

Workers at a factory operated by U.S. firm 3M held their French manager hostage overnight to protest against plans to lay off half the staff.

Shareholder advocacy group Ethos on Wednesday called for UBS shareholders to reject a new pay system at an AGM on April 15, saying it could still lead to big bonuses that drive risk taking.

Stock index futures pointed to a mostly higher open on Wednesday after positive comments on the economy from President Barack Obama, as investors looked to upcoming data for signs of improvement.

Warren Buffett's Berkshire Hathaway Inc may lose its AAA credit rating from Standard & Poor's within a year if the insurance and investment company's capital levels or value of its equity holdings face more downward pressure.