BUSINESS

English soccer power Manchester United is the world's most valuable team, worth an estimated $2.23 billion, according to Forbes.

Recently several reports have surfaced indicating that Apple’s next generation iPhone 5 is already in production. However, according to BGR, this may have been just another bit of faulty hearsay in the ever-churning iPhone 5 rumor mill.

Despite warning that third-quarter revenue will be below expectations, shares of Intel (Nasdaq: INTC), the No. 1 chipmaker, rose more than 3 percent in Wednesday trading.

Two months after CEO Tim Cook promised Apple would do better at plugging its leaks, Apple's product pipeline couldn't be more transparent. We have a pretty good idea of what the next iPhone will feature, and when it will launch. We also know details about the not-so-obvious products in the Apple pipeline; we know the general size of the heavily-rumored iPad Mini, and we know Apple likely has a TV in the works. What happened to the tradition of secrecy?

The price of hamburgers, hot dogs and other commonly grilled items shot up dramatically in June, government data released Tuesday showed, far outpacing price increases seen for other food items and the general cost of living, which actually dipped slightly in the month.

On Wednesday, opposition leader Shaul Mofaz called to end the polticial circus over whether, or when, ultra-Orthodox and Arab Israelis must serve in the military.

Bank of America's second-quarter earnings reversed a year-earlier loss and beat analyst expectations on higher mortgage income, improved credit quality and the absence of good will impairment charges.

Credit Suisse Group, Orexigen Therapeutics, Aixtron, New Oriental Education & Tech, Arena Pharmaceuticals, Ericsson, Saks and American Capital Agency Corp are among the companies whose shares are moving in pre-market trading Wednesday.

Heating up the so-called smartphone patent war, HTC has filed two counterclaims against Apple in the Southern District of Florida, claiming that the iPhone-maker has infringed on two HP patents it acquired in December last year.

Taxes may rise modestly for average Americans and more sharply for wealthier citizens as a result of the Patient Protection and Affordable Care Act (ACA), also known as Obamacare.

The nascent U.S. housing recovery could be concealing another financial time bomb: home equity loans.

Banking on software, services and cost controls, International Business Machines Corp. (NYSE: IBM), the No. 2 computer company, is expected to report improved second-quarter earnings despite a decline in revenue.

Banking in line with the Koran's prohibition on paying interest is an expanding sector, and the ascent of the Muslim Brotherhood to power in Egypt is going to help it grow faster.

Panasonic announced a new addition to its Lumix G series cameras, the Lumix DMC-G5. The newest Digital Single Lens Mirrorless camera features a 16.05-megapixel Live MOS sensor and redesigned Venus processor to render clear images in both photo and video recording.

U.S. stock index futures point to lower opening Wednesday as investors were disheartened after the Federal Reserve gave no indication of stimulus measures to boost the economic growth.

Asian stock markets were mostly lower Wednesday as the lack of explicit hints about further quantitative easing from Fed Chairman Ben Bernanke during his congressional testimony disappointed investors.

Most European markets rose Wednesday but investors remained cautious as there were no strong hints that the U.S. Federal Reserve will announce more stimulus measures to boost the economic growth.

The top after-market NYSE gainers Tuesday were Vmware, EMC Corp, MGIC Investment, Basic Energy Services and Salesforce.com. The top after-market NYSE losers were Sally Beauty Holdings, United Rentals, Proto Labs, Ultra Petroleum and American Axle & Manufacturing Holdings.

The top after-market Nasdaq gainers Tuesday were Amicus Therapeutics Inc, Orexigen Therapeutics inc, Gevo Inc, Inter Parfums Inc and Complete Genomics Inc.The top after-market Nasdaq losers were Rovi Corporation, Arena Pharmaceuticals Inc, VIVUS Inc SS&C Technologies Holdings Inc and Horizon Technology Finance Corporation.

Asian markets fell Wednesday as investors were disappointed to note that the U.S. Federal Reserve Chairman Ben Bernanke did not offer any hint of monetary easing measures to rejuvenate the faltering economic growth.

Coachella has sprouted sea legs. The SS Coachella will be setting sail, it's a cruise line with up of artists like Pulp, Hot Chip, Yeasayer and Girl Talk, just to name a few. Goldenvoice has decided to take the musical festival to the sea.

Steeped in history -- both spectacular and sordid -- Cambodia is the perpetual comeback kid.

Intel (Nasdaq: INTC), the No. 1 chipmaker, Tuesday reported decent second-quarter financials but spooked investors and Silicon Valley with the dreaded news: third-quarter sales will be worse than expected.

Intel Corp. (Nasdaq: INTC), the largest semiconductor manufacturer, beat expectations in the second quarter, but reduced its revenue forecast for the year as China's economy is expected to slow.

Yahoo! Inc. (Nasdaq: YHOO)'s earnings increased in the second quarter as the tech giant's advertising revenue rose slightly.

It seems as though the world if retail is hitting some mid-year skids, leaving market watchers wondering if they already need to write of the second-most important sales season of the year: Back to school.

Once you go Apple, you never go back. Apparently that?s the attitude the majority of iPhone owners take, according to a new data from an analyst at Piper Jaffray.

The European Union has called into question Romania's respect for democratic institutions, following the center-left government's attempt to impeach conservative President Traian Basescu.

Warren Hill, who is mentally disabled according to the state's courts, will be executed via lethal injection on Wednesday, unless the U.S. Supreme Court intervenes.