IBT Staff Reporter

A Cisco Systems Inc executive said on Wednesday that uncertainty still ruled over customers of the network equipment maker, and the outlook for future business conditions was still unclear.

Oil rose over 6 percent on Wednesday after data showed an unexpected drop in U.S. crude stocks and an increase in gasoline demand.

Stocks rose on Wednesday as investors jumped back into the market following a five-day sell-off that drove Wall Street to 12-year lows, while soaring prices of oil and other commodities lifted energy and natural resource shares.

A surge in Chinese manufacturing plus hopes for additional stimulus there injected a rare dose of optimism into the global economic picture on Wednesday, even though Europe's services sector fell to new lows and the United States suffered more job losses.

General Electric Co's shares fell as much as 16 percent on Wednesday, touching their lowest point since 1991, as anxiety over a possible downgrade for the firm and its beleaguered finance unit was compounded by an investor lawsuit over a recent dividend cut.

U.S. stocks rose on Wednesday, snapping a five-day sell-off as a jump in the price of oil and other commodities spurred energy and natural resource stocks.

Apple refreshed its line of Mac desktop computers, adding stronger capabilities and nudging some prices lower as consumer spending feels the pinch of the recession.

The U.S. Supreme Court ruled against the drugmaker Wyeth on Wednesday, holding that pharmaceutical companies can be held liable for harm from medicines that carry warnings approved by federal regulators.

The Obama administration on Wednesday launched a $75 billion foreclosure relief plan, as new data showed one in five U.S. homeowners with mortgages owe more than their house is worth.

The Obama administration on Wednesday gave lenders a green light to begin modifying home mortgages under a new $75 billion program aimed primarily at people facing imminent financial hardship.

U.S. Treasury Secretary Timothy Geithner on Wednesday blamed soaring budget deficits partly on failure by the former Bush administration to make needed investments in energy security and healthcare.

General Electric Co's shares fell as much as 15 percent on Wednesday, touching their lowest point since 1991, and the cost of insuring GE Capital's debt hit a record high on anxiety about that unit.

Costco Wholesale Corp posted a lower profit as it slashed prices aggressively to win market share, while smaller rival BJ's Wholesale Club Inc topped Wall Street expectations by luring shoppers with fresh food and prepared meals .

U.S. stocks rose on Wednesday, snapping a five-day sell-off as a jump in the price of oil and other commodities spurred energy and natural resource stocks.

U.S. crude oil futures extended their gains to above $45 on Wednesday after stocks of crude in the United States declined unexpectedly and demand for gasoline rose.

General Electric Co's shares fell more than 15 percent on Wednesday, trading below $6 for the first time since 1991, as investors' anxiety about its hefty GE Capital arm continued to swirl.

A video of Spain's prime minister became one of the world's most talked about internet clips on Wednesday after he accidentally uttered the F word in a news conference with Russian President Dmitry Medvedev.

U.S. crude oil futures jumped more than $2 to above $43 per barrel on Wednesday, after an oil leak and fire on a Russian pipeline disrupted exports.

Canadian Scotiabank on Wednesday said it has acquired select assets and 60 employees from UBS Energy, including trading technology.

Iranian missiles can reach Israeli nuclear sites and Tehran will respond firmly to any attack, a top commander said on Wednesday.

U.S. private companies hemorrhaged nearly 700,000 jobs in February and the service sector slump deepened as the year-old recession showed little sign of abating, according to data released on Wednesday.

Presidential polls in Afghanistan cannot be held next month as demanded by President Hamid Karzai and August 20 must remain the polling day as originally scheduled, the election commission said.

HELSINKI - Google said on Wednesday it would spend 160 million euros ($200 million) on building a new data centre at the site of an old paper mill in southeastern Finland.

Zimbabwean Prime Minister Morgan Tsvangirai on Wednesday made his first call for an end to international sanctions, part of his bid to start rebuilding the shattered economy.

General Electric Co's shares fell more than 15 percent on Wednesday, trading below $6 for the first time since 1991, as investors' anxiety about its hefty GE Capital arm continued to swirl.

General Electric Co's shares fell more than 15 percent on Wednesday, trading below $6 for the first time since 1991, as investors' anxiety about its hefty GE Capital arm continued to swirl.

HONG KONG - Tullow Oil is the latest Africa-focused energy firm to draw Chinese takeover interest, but the $8 billion oil and gas independent, emboldened by its prospects, has snubbed potential buyers, dealmakers say.

A North Korean missile launch may not come for some time although the communist state has been preparing its longest-range rocket for a test flight, South Korea's unification minister said on Wednesday.

Purchases by governments and state-backed firms made up a record proportion of global mergers and acquisitions (M&A) in February, underscoring how the financial crisis has sidelined private-sector buyers.