IBT Staff Reporter

A memo that triggered a U.S. investigation into a possible cyber-attack by Indian military intelligence is probably a fake, but it is clear from leaked documents that serious security breaches did take place.

The Federal Reserve said on Wednesday the economy continued to expand modestly through the end of 2011 as holiday spending proved robust, but a weak job market was still preventing incomes from rising.

The worst is yet to come in the euro zone's debt crisis but the currency union will survive 2012 intact, according to a Reuters poll of economists who say France will probably lose its top-notch credit rating.

Intelligence analysis firm Strategic Forecasting Inc relaunched its website more than two weeks after an attack by hackers who had stolen data of clients including Henry Kissinger and former Vice President Dan Quayle.

Apple Inc sent out media invitations on Wednesday announcing plans for an education event at New York's Guggenheim Museum on January 19 but did not reveal further details.

Microsoft Corp has put its talks with media companies about an online subscription service for TV shows and movies on hold, according to people familiar with the discussions.

General Motors Co could shift more vehicle production to its European factories in a cost-cutting deal with its German union that could avert a damaging standoff and keep Opel out of bankruptcy, people familiar with the discussions said.

The S&P 500 index was little changed on Wednesday as investors shrugged off warnings about further weakness in the euro from a lack of leadership in tackling the euro zone debt crisis.

The president of the Chicago Federal Reserve Bank said on Wednesday that a more vibrant housing market will be necessary to boost home prices and provide a lift to the overall economy.

More than 10 percent of parents around the world say their child has been cyberbullied and nearly one-fourth know a youngster who has been a victim, according to a new Ipsos/Reuters poll.

Industry and government are on track to bring down the cost of batteries to power hybrid and electric cars, which is crucial for improving commercial appeal of those vehicles, U.S. Energy Secretary Steven Chu said on Wednesday.

The U.S. Department of Homeland Security's command center routinely monitors dozens of popular websites, including Facebook, Twitter, Hulu, WikiLeaks and news and gossip sites including the Huffington Post and Drudge Report, according to a government document.

The U.S. futures regulator on Wednesday adopted further protections for customer collateral posted in swap trades, an area of heightened importance as the search continues for hundreds of millions of dollars in missing MF Global customer money.

Samsung Electronics Co aims to more than quadruple sales of small, interchangeable lens cameras this year, as it seeks to move up-market to compete with stronger Japanese rivals amid stagnating growth in the compact camera segment.

The Rochester-based company's complaint to the U.S. International Trade Commission argues that some of Apple's iPhones, iPads and iPods, along with some of HTC's smartphones and tablets infringe on Kodak patents involving technology for transmitting images.

U.S. stocks edged lower on Wednesday after hitting a five-month high in the prior session as a warning about further weakness in the euro kept investors jittery.

German Chancellor Angela Merkel praised Italy's new government on Wednesday for the speed with which it has launched reforms, prompting Prime Minister Mario Monti to say it was important for markets also to recognize Italian economic policy progress soon.

Excuses, excuses and more excuses.Some of the best-known hedge fund managers have offered lots of excuses for underperforming the major stock market indexes last year, with many large funds posting double-digit losses.

The U.S. Federal Reserve should stick to its super-easy monetary policy to fight unemployment and spur a painstakingly slow economic recovery, even if doing so pushes inflation temporarily higher, a top Fed official said on Wednesday.

The European Central Bank should ramp up its buying of troubled euro zone debt to support Italy and prevent a cataclysmic collapse of the euro, David Riley, the head of sovereign ratings for Fitch, said on Wednesday.

Ore grades will be approximately 6 percent lower in 2012 than in 2011 due to mine sequencing.

While many Republicans have struggled to say why they support a given candidate, the Ron Paul supporters who filled a banquet hall in Manchester, N.H., on Tuesday were eager to talk in detail about his message.

Switzerland might not name a permanent successor to Philipp Hildebrand as central bank chairman for several months, the country's finance minister said on Wednesday, adding she had full confidence in the bank's interim head.

Two Dutch cable companies were ordered by a court on Wednesday to block access to the website The Pirate Bay to prevent the illegal downloading of free music, films and games in case brought on behalf of the entertainment industry.

Stocks pulled back from five-month highs in early trading on Wednesday, with pressure on the euro testing the view that U.S. equities were decoupling from the single currency.

Fannie Mae Chief Executive Michael Williams said on Tuesday he was stepping down from the government-controlled mortgage firm, which is at the center of a fight over how to reduce foreclosures.

On Dubai's busiest thoroughfare, Sheikh Zayed Road, the white, orange and blue shop front of Sharjah Islamic Bank's gleaming new branch stands out among the soaring apartment blocks, furniture shops and car dealerships that mirror the Gulf state's growing wealth.

A pullback in stocks was expected at the open on Wednesday, a day after the Dow and S&P 500 hit five-month highs, with pressure on the euro testing the recent view that U.S. equities were decoupling from Europe.

Billionaire investor Carl Icahn on Wednesday dropped his $1.73 billion hostile bid for Commercial Metals Co after failing to pick up support among the metal company's other shareholders.