IBT Staff Reporter

Pakistan's former prime minister Benazir Bhutto said on Wednesday power-sharing talks with President Pervez Musharraf had stalled and she expected her party's members of parliament to resign.

Five workers died on Tuesday after they were trapped deep underground at a hydroelectric plant near Georgetown, Colorado, amid a chemical fire, power company Xcel Energy Inc said.

Shares in EchoStar Communications Corp jumped more than 11 percent before retreating on Wednesday as investors speculated further on the possibility the satellite operator might sell its DISH pay-TV network.

Insurer Old Mutual Plc plans to buy back 350 million pounds ($714 million) of its shares, roughly 4 percent of its capital, as part of a programme to improve capital efficiency, it said on Wednesday.

The Indian government has received about 300 applications from about 30 companies vying to tap growth potential in the world's hottest wireless market, the telecoms minister said on Wednesday.

Taiwan's Synnex Technology, the world's No.3 electronics distributor, forecasts its annual sales will grow by a fifth in 2007 and 2008, a touch below market estimates, as it aims to sell more products in China's fast-growth market.

Ranbaxy Laboratories Ltd, India's top drugmaker by sales, will raise its stake in Zenotech Laboratories Ltd to 45 percent to expand into the global biogenerics market, it said on Wednesday.

Shares in Nintendo Co Ltd hit a record high on Wednesday after Goldman Sachs initiated coverage of the maker of the Wii game console with a buy rating, while speculation the firm could raise its earnings forecast again gave it an extra boost.

The dollar rose to a one-month high against the yen on Wednesday after economic reports reflected growth in U.S. employment in September, boding well for Friday's non-farm payrolls data.

United Auto Workers members at several locals have backed a ground-breaking tentative contract with General Motors Corp that may serve as a pattern for talks with Ford Motor Co and Chrysler LLC.

Interstate Bakeries Corp, the bankrupt maker of Wonder Bread and Twinkies snacks, said on Wednesday its lenders reduced the amount the company can borrow as it struggles to stay in business.

Yahoo Inc has been given U.S. antitrust approval to buy BlueLithium, the Federal Trade Commission said on Wednesday.

Computers and photographs related to Steven Spielberg's next Indiana Jones film have been stolen.

Belgian-Dutch financial services group Fortis won conditional clearance on Wednesday from the European Commission for its proposed acquisition of parts of Dutch peer ABN AMRO.

Stocks declined slightly on Wednesday as a broker's weak outlook on some chip makers weighed on the sector, while data showing continued growth in the services sector helped limit losses.

The Food and Drug Administration said on Wednesday it was exploring whether to let certain drugs be available to consumers without a prescription but only after consulting with a pharmacist.

Google Inc is moving to attract big business users to its Google Apps service just a year after entering the software market, as the company said on Tuesday it is offering stepped up e-mail management services at no additional cost to paying users.

North Korea has agreed to disable its Yongbyon nuclear reactor and provide a complete declaration of all nuclear programs by the end of the year, in a deal that won praise from U.S. President George W. Bush.

NTT DoCoMo Inc, Japan's biggest mobile phone carrier, said on Wednesday it is considering new pricing systems that would cut calling charges and raise handset prices.

The odds of a recession in the United States is between a third and half due to the credit crisis sparked by problems in the U.S. subprime mortgage sector, former Federal Reserve chief Alan Greenspan said on Wednesday.

Crude oil inventories rose unexpectedly last week in the United States while distillates posted a surprising draw, according to weekly government data issued on Wednesday.

Northern Rock's advisers are in talks with U.S. buyout firm JC Flowers over a rescue bid for the stricken UK mortgage bank, as U.S. firm Cerberus also considers a move, sources familiar with the matter said.

U.S. service sector growth fell more than expected in September, according to a report released on Wednesday that painted a mixed picture of the economy, with prices rising but employment improving.

Japanese electronics giant Sony and Germany's Bertelsmann won competition clearance from the European Commission on Wednesday for their recorded music joint venture, in a move which angered independent music labels.

U.S. mortgage applications fell for a second straight week, largely reflecting a drop in demand for home refinancing loans, an industry group said on Wednesday.

Cool jazz piano playing in the background, a pink penguin named JellyJuju orders a cheese pizza and a lemonade. Another penguin, wearing a chef's hat, waddles to the table, tossing the pie in the air and catching it.

Gold bounced and gained as much as $5 on Wednesday after falling to a one-week low the previous day, suggesting that fundamentals still favored the metal used as an alternative investment to bonds and currencies.

Oil climbed further above $80 a barrel on Wednesday after three days of losses as investors expected weekly U.S. data to show crude stocks declining and raising the prospects for a winter supply crunch.

Verizon Wireless unveiled three new cell phones on Wednesday for the holiday season, including a high-end handset named Voyager that will compete with Apple Inc's iPhone.