IBT Staff Reporter

Crude oil fell on Wednesday after a government report showed that U.S. fuel stockpiles rose last week, erasing earlier gains when the Organization of Petroleum Exporting Countries agreed not to boost oil production.

Bristol-Myers Squibb Co, as part of an expected major restructuring, on Wednesday said by 2010 it would cut its work force 10 percent and slash the number of its manufacturing plants by more than half, to generate an additional $1.5 billion in savings. The company is also planning to sell its medical imaging business and reviewing strategic alternatives for its wound healing unit. Sales would bring the company cash to boost its core pharmaceuticals business.

The chief prosecutor of the International Criminal Court said on Wednesday he planned to investigate senior Sudanese government officials over continuing crimes against humanity in Darfur.

The United States and other backers of Kosovo's drive for independence will seek a firm pledge from NATO allies on Friday to maintain peacekeeping troops at current levels and deal robustly with any violence.

A new type of cyberbully known as a griefer is overtaking other forms of aggression on the Internet and in the world of online gaming, a health researcher warned.

With financial markets finding it tough, even rich Manhattan could feel some pain.

The Federal Reserve could be forced to lower interest rates below 3 percent to avoid a recession, Bill Gross, the manager of the world's biggest bond fund, said on Wednesday.

Google Inc is releasing a new application for Apple Inc's iPhone that combines the Web leader's services such as e-mail, search and calendar into a single interface.

Federal regulators and lenders are homing in on five years as the length of an interest-rate freeze on subprime mortgages, Bloomberg reported, citing a source familiar with the negotiations.

Private employers added 189,000 jobs in November, a report by a private employment service said on Wednesday, much higher than market expectations and the biggest monthly increase in a year.

Britain won swift clearance from European Union regulators on Wednesday for rescue aid to support stricken mortgage lender Northern Rock, a casualty of the global credit crunch.

Technology and entertainment topped Google Inc's searches in 2007, with the iPhone grabbing the No. 1 slot on a list of the fastest-rising search terms in the United States, the company said on Tuesday.

Oil prices were higher amid speculation the Organization of Petroleum Exporting Countries (OPEC) will reject calls for an increase in production.

Deutsche Telecom can block buyers of Apple Inc's iPhone from using the handset on competing networks, a German court ruled today, overturning an injunction won by Vodafone last month.

Media conglomerate, News Corp, has acquired the spiritual and religious media site Beliefnet late last night in a to move to place the company into another fast growing market.

The largest tax preparer in the U.S said on Tuesday that it will shut down its troubled mortgage lending arm and cut 620 jobs as the units sale to Cerberus Capital Management LP has fallen through.

The British teacher who was jailed in Sudan for letting her young students name a teddy bear Mohammed is now back in her hometown in Northern England and received a welcome note from local Muslims, according to news reports.

Home improvement retailer Home Depot Inc is closing three call centers that aid its home services business, cutting about 950 jobs, a spokesman said on Tuesday.

Deutsche Telecom can block buyers of Apple Inc's iPhone from using the handset on competing networks, a German court ruled today, overturning an injunction won by Vodafone last month.

The board of the Reserve Bank of Australia decided to keep the interest rate at the same percentage of 6.75, but it has concerns regarding inflation.

Deutsche Telecom can block buyers of Apple Inc's iPhone from using the handset on competing networks, a German court ruled today, overturning an injunction won by Vodafone last month.

The world's largest network equipment maker, Cisco Systems, said today that it picked up the former chief of technology from Motorola to as its own.

Microsoft will remove a controversial anti-piracy tool from Windows Vista which disabled most the operating system if it considered that a user did not pay for a copy of the software.

Cisco Systems said Tuesday it appointed former Motorola head of technology chief Padmasree Warrior as its chief technology officer on Tuesday.

The British teacher who was jailed in Sudan for letting her young students name a teddy bear Mohammed is now back in her hometown in Northern England and received a welcome note from local Muslims, according to news reports.

A German court ordered on Tuesday that the iPhone sales in Germany will be made exclusively through T-Mobile, overturning an earlier injunction.

As Fannie Mae prepares for further drops in housing and credit markets, the company said on Tuesday it will cut its dividends by 30 percent and sell $7 billion of preferred stocks to increase capital.

The dollar fell against major currencies on Tuesday amid concerns about company earnings, a lower U.S. market, an interest rate cut in Canada and the latest address from the Federal Reserve.

Lebanese leaders were approaching agreement on Tuesday on a deal to elect the army chief as president, with France's foreign minister holding talks in Beirut to help seal it.