IBT Staff Reporter

The head of AIG said on Wednesday the cold realities of competition compelled the insurer to pay $165 million in bonuses, but angry lawmakers insisted the money belonged to taxpayers and vowed to get it back.

On March 18 A defiant Sudanese president rallied Arab supporters in Darfur by saying no war crimes court or the U.N. Security Council can touch even an eyelash on him even though an international order for his arrest has been issued.

General Mills Inc posted a lower-than-expected quarterly profit on Wednesday, hurt by the effect of the stronger dollar and high costs, and gave a full-year outlook below Wall Street forecasts, sending its shares down as much as 10 percent to a three-year low.

Oil fell $1 to $48 a barrel on Wednesday after government data showed U.S. crude supplies swelled to the highest level in nearly two years, and the World Bank cut its forecast for China's economic growth this year.

Malaysia's Maxis Communications Bhd is investing $10 billion in its Indian unit Aircel to accelerate its expansion in the world's fastest-growing mobile market, and is interested in bidding for 3G spectrum.

Nine in 10 people expect their Internet service providers to offer open and unrestricted access to the Web, a survey showed on Wednesday. The survey, commissioned by Google, Yahoo and Web telephone company Skype, came as the European Parliament and EU states hold talks on a joint deal to reform the bloc's telecoms rules to boost competition.

U.S. inflation rose in February on higher gasoline and apparel prices, government data showed on Wednesday, pointing to some pricing power in the recession-hit economy and easing fears of deflation for now.

U.S. inflation rose in February on higher gasoline and apparel prices, government data showed on Wednesday, pointing to some pricing power in the recession-hit economy and easing fears of deflation for now.

A record 778 hedge funds liquidated during the fourth quarter, capping a year that saw financial markets melt down and investors yank $150 billion of their money at the end of 2008, Hedge Fund Research Inc said on Wednesday.

Oil fell more than 3 percent to below $48 a barrel on Wednesday after fresh industry data showing a build in U.S. crude oil stocks and the World Bank cut its forecast for China's economic growth this year.

IBM is in talks to buy Sun Microsystems Inc for a proposed $6.5 billion cash offer, the Wall Street Journal reported Wednesday.

Media company Discovery Communications Inc has sued Amazon.com, accusing the online retailer's Kindle of infringing its patent on electronic book technology.

NATO's secretary-general said on Wednesday 4,000 more soldiers were needed to secure Afghanistan's presidential election in August and to make sure the vote was credible and fair.

Bank of America Corp Chairman and Chief Executive Kenneth Lewis said the largest U.S. bank could repay the $45 billion of government capital it has taken by late 2009 or early 2010, depending on the economy, according to an interview published in the Charlotte Observer.

Lebanon's president ruled out on Wednesday holding direct peace talks with Israel, saying that the best way to resolve his country's differences with the Jewish state was to hold a regional peace conference instead.

The Vatican Wednesday defended Pope Benedict's opposition to the use of condoms to stop the spread of AIDS as activists, doctors and politicians criticized it as unrealistic, unscientific and dangerous.

A suicide bomber blew himself up near Sanaa airport on Wednesday, apparently to target a convoy of South Koreans investigating an al Qaeda suicide that killed four Korean tourists this week, a security source said.

Japan will clear the way for the deployment of ballistic missile interceptors as it prepares for the possibility a North Korean rocket could fall toward its territory, Kyodo news agency reported on Wednesday.

Stocks fell on Wednesday as lower oil prices hurt energy shares and caution before the Federal Reserve's policy decision offset optimism from a report of a potential takeover in the technology sector.

Madagascar's new president, Andry Rajoelina, celebrated and consolidated power on Wednesday after being appointed by the Indian Ocean island's military in a move that drew international disapproval.

U.S. consumer prices rose in February on higher gasoline and apparel prices, government data showed on Wednesday, calming fears of deflation for now.

Merrill Lynch & Co has taken full control of its Indian unit DSP Merrill Lynch after Hemendra Kothari, the subsidiary's founder and chairman, said he had sold his 10 percent stake to the firm ahead of his retirement.

The head of AIG said on Wednesday the cold realities of competition compelled the insurer to pay $165 million in bonuses, and acknowledged that bailout-weary Americans' patience was running thin.

General Mills Inc posted a lower-than-expected quarterly profit on Wednesday, hurt by the effect of the stronger dollar and high costs, but the food maker raised its full-year outlook, citing strong sales in the first nine months and lower costs in the current quarter.

China has rejected Coca-Cola's planned $2.4 billion acquisition of top juice maker Huiyuan Juice , saying the deal would have been bad for competition.

Oil fell from a 2-1/2-month high toward $48 a barrel on Wednesday after industry data on Tuesday showed large builds in U.S. crude stocks.

IBM is in talks to buy Sun Microsystems Inc, sources with knowledge of the matter said, a move that could bolster the technology giant against rivals in the high-end computer server market.

Boutique investment firms and top hedge funds are slowly lapping up the cream of global banking talent as the financial crisis forces banks to cut staff and limit the pay of their top risk-takers.

Big gaps remain in a new U.N. deal on global warming meant to be agreed in December and time is running worryingly short with just 265 days left, the U.N. climate chief said on Tuesday.