IBT Staff Reporter

Corn advanced on Wednesday following reports from the U.S. Department of Agriculture that forecasted pre-harvest inventories in the U.S. to fall more than expected as demand for livestock feed and ethanol increases.

Natural gas futures gained amid speculation that supplies will decline as imports of liquefied natural gas (LNG) and shipments from Canada drop.

American Airlines continued to cancel flights on Wednesday, pushing the number to 1,000 flights, or nearly half of its schedule, leaving thousands of passenger schedules disrupted and putting pressure on the airlines finances. American and Delta canceled more than 700 flights March 26 and 27 for the earlier round of MD-80 inspections as the FAA tightened scrutiny of airline-industry maintenance.

Ford Motor Co China has posted a 47 percent year-over-year increase gain in first-quarter sales, with 90,791 vehicles sold, continuing the company's strong growth in China market.

China Mengniu Dairy Co Ltd said it has agreed to acquire an additional 8.97 percent stake in its main operating subsidiary, Inner Mongolia Mengniu Dairy Co Ltd, for of 2.84 billion Hong Kong dollars.

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Crude prices rose to $111 on Wednesday as the government reported crude, gasoline and distillate fuel stockpiles in the U.S. dropped larger than expected last week.

U.S. stocks dropped for a second day on Wednesday after United Parcel Service Inc. said shipments are slowing and crude oil topped $111 a barrel raising concerns about the economy.

The dollar fell against the euro on Monday ahead of tomorrow's interest rate decisions from European central banks and ratings downgrades for four U.S. mortgage insurers.

Entertainment Rights Plc, owner of the rights to Postman Pat and Basil Brush has reported a booming year with annual profits for 2007 up 45 per cent to £12.6 million.

The Advertising Standards Authority (ASA) has said that it has asked the Office of Fair Trading (OFT) to consider taking action against budget airline Ryanair for misleading consumers in its adverts and for unwillingness to comply with ASA rulings

The Nationwide Building Society has released the results of a survey which show that consumer confidence dropped to its lowest level in four years last month.

Shares of Citigroup rose in early trading on Monday after reports yesterday said the largest U.S. bank by assets was close to selling about $12 billion in leveraged loans and bonds to a group of private equity companies.

American Airlines canceled 850 more flights on Wednesday as it re-inspects the wiring on its MD-80 jets, stranding thousands of passengers and putting pressure on the airlines finances. The cancellations at the world's largest airline began late Tuesday afternoon, when American canceled 500 flights.

Pfizer Inc. said on Wednesday clinical studies of its insulin drug Exubera found increased cases of lung cancer, leading developer Nektar to abandon the troubled product.

Boeing Co. announced the third major delay in six months of its 787 Dreamliner on Wednesday, blaming it on assembly delays and further supply problems, and said delivery is now almost 15 months behind schedule.

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The Bank of Japan negatively revised its economic outlook Wednesday, saying the economy was slowing.

Bharat Oman Refineries Ltd (BORL), an equal joint venture between state-owned Bharat Petroleum Corporation Ltd (BPCL) and Oman Oil Co., is set to raise about Rs.2400 crore ($600 million) by tapping the primary market as well as through a pre-IPO placement, to part finance a Rs.10,400 crore ($2.6 billion) refinery project at Bina, Madhya Pradesh.

The prime index of the Bombay Stock Exchange (BSE) failed to carry on the upward momentum it had set on Monday, by ending down 1.08 percent or 19.46 points on Tuesday, tracking weak global cues.

Coca-Cola Inc. is set to invest about Rs.1000 crore ($250 million) in India over the next three years to keep pace with its rival PepsiCo Inc., which presently dominates the local $1.75 billion soft drinks market.

Japan stocks dropped Tuesday as investors began to raise fears about global economy and situation of Beijing Olympic. Also some investors sold stocks for profit-taking before earnings season. Many investors expect results of Japan and U.S. companies' quarterly earnings will not be so profitable.

Standard & Poors Ratings Services, downgraded its credit ratings for four mortgage insurers late Tuesday citing a weaker than expected housing market and rising unemployment.

Shares of First Marblehead Corp., a student-loan company, fell sharply on Tuesday a day after its loan insurer filed for bankruptcy.

Kinetic Concepts Inc. which elaborates products to heal wounds agreed to buy $1.7 billion in cash for LifeCell Corp. to expand the diversity of its products.

China's banking authority clarified on Tuesday that the rules that a single foreign-funded institution can hold up to a 20 percent stake in a Chinese bank remain unchanged, according to a report from Xinhua News Agency.

China's domestic automobile market increased in March as the impact of snowstorm weakened. The domestic car sales in first quarter increased by 22.52 percent as compared with the same period last year, to reach 1.37 million totally.

Capital One Financial Corp. will cut 750 U.K. jobs by the end of the year, it told employees on Monday.

Konica Minolta Business Solutions USA Inc., a unit of Tokyo-based Konica Minolta Holdings Inc., said Tuesday it has agreed to buy a subsidiary of Danka Business Systems PLC, in a deal valued at $240 million.