IBT Staff Reporter

Even the most luxurious, expensive homes are feeling the impact of the credit crunch -- $3 million discounts.

Germany's biggest bank expects a $2 billion 3q profit despite big hits from global credit market problems

More arrested after the departure of a UN diplomat who came to try to end a ruthless crackdown on protestors.

U.S. private employers likely added 58,000 jobs in September, in line with expectations, a report by a private employment service said on Wednesday. The report's makers said it was the third consecutive weak reading and confirms the recent deceleration of employment.

Microsoft Corp introduced on Tuesday three new models of its Zune digital media player that wirelessly and automatically update their music, photos and videos when placed near a user's computer.

Global stocks hit a fresh peak for a third straight session on Wednesday as worries about a credit squeeze continued to recede, while the dollar pared recent gains as investors awaited upcoming major U.S. economic data. Caution ahead of U.S. non-manufacturing numbers and retail sales in Europe due later in the day were seen keeping a lid on European markets.

U.S. Treasuries made small gains on Tuesday after an industry report said the number of pending home sales fell more than expected, causing concern that the housing crisis could deepen even more.

The dollar's two-day rally against the euro ended ahead of a key U.S. service sector report due later Wednesday.

The number of pending sales of previously owned homes in the U.S. fell to its lowest level since an industry report began tracking the data since 2001, sign that the housing downturn may not be have reached its lowest point yet.

Today in the UK, on the first day of the Conservative Party Conference in the seaside town of Blackpool, the Shadow chancellor George Osborne will be laying out some of his tax policies to his party and potential voters.

Japan's Nikkei stock average is expected to move in a narrow range on Wednesday, with profit-taking likely to prevent the index from going further beyond 17,000.

Gold fell the most since August after the dollar rebounded against the Euro on Tuesday.

General Motors Corp gained ground against rivals in September with a 4 percent U.S. sales increase while Ford Motor Co sales plunged 18 percent and Toyota Motor Corp sales were off 1 percent for a third monthly decline. Overall, sales steadied in September, bucking Wall Street expectations for a decline.

Oil prices fell for the third day in a row after the dollar rebounded reducing the appeal of the commodities.

The number of American's signing contracts to buy homes dropped to the lowest level ever in August new data shows.

Stocks rose on Tuesday as the broader market bet that the worst of the credit squeeze was behind it, and the of takeovers increased.

Blue-chip stocks fell on Tuesday as investors booked profits following a record reached in the previous session, but in the broader market, bank stocks and home builders gained as investors bet the worst of the credit squeeze may be over.

The upstart airline has halved ticket prices on some routes and could impact rivals' profits.

The new network plans to beat rivals Bloomberg and CNBC by cutting out the business lingo.

Banks will likely be reluctant to make new business loans if tight credit conditions persist, hampering capital spending and the economy in the coming months, according to Goldman Sachs.

The dollar rose on Tuesday from record lows as investors trimmed bets of further declines in the U.S. currency ahead of key economic data later this week.

Warm weather in parts of the United States in recent weeks could hurt September same-store sales, as consumers put off purchases of fall items like fuzzy sweaters and outerwear.

Oil fell below $80 a barrel on Tuesday, retreating for a third day as a strengthening dollar and concerns about the world economy prompted investors to take profits.

Major League Baseball said on Tuesday it will use a service provided by a joint venture of Medialink Worldwide Inc and the Netherlands' Philips Electronics to track the use of its game broadcast footage more effectively.

The world's top cellphone maker Nokia has signed partnership deals with seven companies including CNN and Sony Pictures to bring video content to its top-of-the-range multimedia phones.

Taiwan's second-largest telecoms carrier, Far Eastone Communications Co Ltd, said on Tuesday it plans to launch its own-branded GPS device by the end of this year and hopes to sell three million units next year.

Pepsi Bottling Group Inc reported better-than-expected quarterly profit on Tuesday due to higher prices and continued cost savings, and raised its full-year outlook, sending its shares up more than 4 percent to an all-time high.

Panasonic maker Matsushita Electric Industrial Co Ltd said it would launch new Blu-ray optical disc recorders in November that allow more hours of full high-definition recording on a single disc than any others available.

Panasonic maker Matsushita Electric Industrial Co. has sold 17 large warehouses in Japan to the local unit of real estate developer ProLogis for about 85 billion yen ($735 million).