IBT Staff Reporter

Boeing Company reported Wednesday its net income in the fourth quarter of 2008 plunged to a loss of $56 million, on a strike, a charge related to the 747 and a litigation reserve.

- The FOMC decided today to leave unchanged its funds rate at 0.25% as industrial production, housing starts and employment have continued to decline steeply, as consumers and businesses have cut back spending, as well as the Committee expects that inflation pressures will remain subdued in coming quarters. FOMC expects a gradual recovery in economic activity will begin later this year.Fed is prepared to buy longer-term Treasury securities if evolving circumstances indicate such transactions would be particularly effective in improving conditions in private credit markets. US Government will continue purchasing large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets.USD and Dow Jones reacted positively. Wall Street is growing above 8,350 pts, winning 177 points today. EURUSD is falling quickly after the FED decision, touching the 1.3105, the low of the day. USDJPY is climbing up to 90.75, the session's high.According to Nick Nasad, analyst at CMS Forex: I think risk appetite is fueling a bit the Dollar strength, which seems sort of paradoxal in terms of the EUR/USD, but from the way price action was behaving the last two session, the EUR/USD looked ready for a dip... the EUR/USD is responding with a knee-jerk Dollar strength as well as the USD/JPY.

Jessica Alba fights back after being ridiculed for saying Sweden was a neutral country when a reporter didn't want to answer her questions.

A United Nations agency predicted unemployment, working poor and vulnerable employment will increase dramatically due to the current global economic crisis.

A Chinese diplomat says the U.S. knows China is not a currency manipulator, saying it's unfair for the nation to suddenly change its stance, according to a report.

Oil prices rose on Wednesday above $42 after the U.S. stock market rose a day earlier on expectations that upcoming government and money policy could reduce instability in the financial system, raising spending and boosting credit availability.

Economy experts gathered at the opening of the World Economic Forum in Davos, Switzerland on Wednesday, describing a gloomy outlook for the global economy.

The capital city of Seoul is a good example of his success. It is a big, dynamic city, but sometimes makes tourists confused. Seoul keeps the traditions of the ancestors alive. Old temples are still well visited, and the many palaces of former rulers remind the visitor of the past. But the general impression of this city is a big, complex, busy megalopolis with heavy traffic and air polution.

Often referred to as the “Land of the Morning Calm,” Korea has a population of 48.50 million (2006) and a total land area of 99,678 ? (2006). Located at a major crossroads of Northeast Asia, it has also achieved the “Miracle of the Han River.”

Today Cambodia is symbolised by awesome Angkor Wat, the largest manmade religious structure in the world. Angkor Wat is truly one of the most amazing sights in the world, but it is only one of literally thousands of temples to explore...

Hong Kong is a vibrant & exotic locale with a rich and varied history. Although it has become synonymous with shopping & stopovers, visitors soon discover that....

Selected members of the Federal Reserve end a key two-day meeting Wednesday and will issue a policy statement this afternoon where may announce additional steps to combat the economic crisis beyond cutting already low interest rates.

The efforts of the U.S. government and the Treasury Department to avoid misuse of bailout funds amid an unprecedented financial crisis in America has led Citigroup Inc. on Tuesday to cancel its move to take possession of a new corporate jet which had planned to buy.

Prominent executives have stepped away from attendance at the World Economic Forum 2009 in Davos, Switzerland which kicks off Wednesday, citing illness, the need to deal with pressing matters, or just avoiding the spotlight under tough economic circumstances.

On Tuesday Palestinian militants detonated a bomb that killed an Israeli soldier patrolling near Gaza, to this, Israel responded with an airstrike, straining the fragile cease-fire on the eve of a visit by President Barack Obama's new Mideast envoy.

Best Buy Co. and Target Corp. said Tuesday they are cutting jobs to reduce costs as they face lower consumer spending at their stores.

Ted Johnson and Chris Nowinski's concussions caused severe brain damage.

On Tuesday, Google made an available beta of an offline capability for its Gmail platform.

Armed with the 358 page iPhone patent awarded last week, Timothy Cook who runs Apple in Jobs' absence has now threatened Palm with legal action.

More diverse than any Asian country, China’s cultural and historic treasures are balanced by her bustling modernity, stunning natural beauty and profound impact on our world today...

On Tuesday, Kansas State athletic director Bob Krause announced his resignation effective March 31.

Yahoo Inc. reported a fourth quarter net loss Tuesday but its earnings after adjustments on one time charges beat Wall Street forecasts as it launched initiatives to reduce costs. Yahoo reported a net loss of $303 million on $1.81 billion in revenue.

Spanish bank Santander said Tuesday it will repay its clients who resulted victims of Bernard Madoff's fraud, to avoid been sued and keep the reputation of the company.

John Updike, the Pulitzer Prize winning author of Rabbit is Rich and Rabbit at Rest, died on Tuesday at the age of 76 after a long fight with lung cancer.

Geri Halliwell, the British pop singer also known as Ginger Spice in the former Spice Girls girl band, is engaged to an Italian yacht tycoon, Fabrizio Politi, but no wedding date has been announced.

DeAnna Pappas promises an exciting appearance in The Bachelor episode, when she found out that Mesnick would be the next Bachelor.

New York's attorney general Andrew Cuomo on Tuesday issued a subpoena to former Merrill Lynch Chief Executive John Thain to testify on the payment of bonuses to executives worth $4 billion.

Bruce Springsteen's Super Bowl performance will offer fans a taste of what's to come in his world tour.

Colorado Rockies and Ubaldo Jimenez have agreed on a four-year deal, the Right-handed pitcher Ubaldo signed a four-year contract with club options for 2013 and 2014.