IBT Staff Reporter

Stocks rose at the open on Wednesday after a sell-off the previous session left indexes at 12-year lows, with a jump in the price of oil and other commodities spurring energy and natural resource stocks.

Amazon.com is offering a new application to let consumers access books on its electronic reader Kindle from Apple Inc's popular iPhone and iPod Touch devices.

You can't do it? We're here to help, says the homepage of a new French website where children can pay for older students to do homework for them.

Stocks headed for a sharp rebound at the open on Wednesday after a sell-off the previous session left indexes at 12-year lows, with a jump in the price of oil and other commodities spurring energy and natural resource stocks.

An aggressive effort to win market share by slashing prices took a toll on Costco Wholesale Corp as the No. 1 U.S. warehouse club posted lower quarterly profit the same day smaller rival BJ's Wholesale Club Inc reported better-than-expected results.

Falling carbon prices have raised questions about the credibility of the European Union's flagship trading scheme as the bloc's main weapon to fight global warming.

U.S. private sector job losses accelerated in February, according to a report by ADP Employer Services on Wednesday that came in worse than economists' expectations.

U.S. index stock futures pointed to a higher wall street open on Wednesday as a jump in the price of oil and other commodities spurred a rebound in energy and natural resource stocks.

Applications for loans to buy U.S. homes and to refinance existing mortgages fell for the second straight week, the Mortgage Bankers Association said on Wednesday, as consumers awaited for specific details on President Barack Obama's housing stimulus plan.

One in five U.S. homeowners with mortgages owe more to their lenders than their homes are worth, and the rate will increase as housing prices drop in states that have so far avoided the worst of the crisis, a new study shows.

BJ's Wholesale Club Inc reported a better-than-expected rise in quarterly profit on Wednesday after as shoppers headed to its clubs for low prices on staples like fresh food, prepared meals and paper towels.

U.S. retailers Costco Wholesale Corp and Big Lots reported lower quarterly profit on Wednesday as cautious shoppers avoided splurging on discretionary items, like furniture or jewelry, and stuck to buying basics, like food.

General Motors' Saab brand has received interest from several potential bidders including China's Geely Automobile and Dongfeng Motor Group , sources with direct knowledge of the sales process said on Tuesday.

The European Commission said on Wednesday that it would use ad hoc technical consultants instead of a monitoring trustee to ensure software giant Microsoft complied with a 2004 antitrust decision.

U.S. crude oil futures jumped more than $1 toward $43 per barrel on Wednesday, supported by better economic news from China and expectations by some traders that OPEC oil producers may further cut output.

World stocks clawed their way back up from multi-year lows on Wednesday as investors sought bargains after three days of steep losses brought on by deep fears for the world economy and financial system.

Costco Wholesale Corp said on Wednesday its second-quarter profit fell 27 percent, as the No.1 U.S. warehouse club operator cut prices to win market share during the year-end holiday season.

HONG KONG - Asian stocks rallied on Wednesday on hopes Beijing will step up efforts to support the Chinese economy, helping the entire region, while the U.S. dollar rose to a three-year high as investors scrambled to limit risk.

Oil edged up toward $42 on Wednesday, after surging nearly 4 percent overnight, on a brightening outlook for China's economy and in anticipation that producer group OPEC would cut supply further at its next meeting.

U.S. electronics retailer Best Buy and joint venture partner Carphone Warehouse have postponed the launch of their first UK store until the first quarter of 2010, the Financial Times reported.

Asian stocks rallied on Wednesday on hopes Beijing will step up efforts to support the Chinese economy, helping the entire region, while the U.S. dollar rose to a three-year high as investors scrambled to limit risk.

The sanctity of the secret Swiss bank account -- an icon of global finance -- is under growing pressure in a tax investigation due to come into public view on Wednesday at a U.S. congressional hearing.

Global coordinated action to combat the worldwide financial crisis was not going to happen overnight but would proceed in fits and starts that would eventually result in a more prosperous economy President Barack Obama said on Tuesday ahead of a summit of leaders from the top 20 industrialized nations gathering in London in April.

President Obama said on Tuesday he was absolutely confident that his plans to fix the banking sector would work, saying he expected renewed credit flows, business opportunities, and hiring.

UK Prime Minister Gordon Brown in his first state visit to Washington since the start of the Obama administration met with the President to push a global new deal which would coordinate a worldwide response to the global economic crisis.

Oil edged down toward $41 on Wednesday, after surging nearly 4 percent overnight in anticipation that producer group OPEC would cut supply further at its next meeting.

The Bank of America's chief, Ken Lewis, has for the first time today, admitted he made a 'tactical' mistake in acquiring Merrill Lynch.

Asian stocks edged lower for a fifth day while the U.S. dollar rose to a three-year high against a basket of currencies on Wednesday, after Federal Reserve Chairman Ben Bernanke gave a grim view on the financial sector.

Prudential and Manulife Financial made preliminary offers for American International Group's Asian unit, but Prudential's offer fell short for what AIG wants for the business, sources familiar with the matter said.