IBT Staff Reporter

Moody's Corp on Wednesday cut the debt ratings of Bank of America Corp , Wells Fargo & Co and Citigroup Inc , three of the largest U.S. banks, on worries the government would be less likely to support a large lender if it got into trouble.

The Federal Reserve's latest move to stimulate credit for consumers and businesses, known as Operation Twist, is likely to threaten the earnings of some of the country's largest insurers for years to come.

Moody's Corp on Wednesday downgraded Bank of America Corp's debt ratings because the government appears less likely to aid the lender if it verged on failure.

Stocks added to losses on Wednesday after the Federal Reserve said the economic outlook remains grim, even as it said it would take more action to boost demand.

The Dow and the S&P 500 fell on Wednesday after the Federal Reserve said it would launch a new $400 billion program to aid the flagging economy.

Greece said it would deepen pension cuts, extend a painful property tax hike and put tens of thousands of workers on notice on Wednesday to secure a new injection of aid and save the country from bankruptcy.

Google launched it's new flight search feature last week, but how will it compare to Bing Travel?

Britain's economic prospects are deteriorating so swiftly that the Bank of England signaled on Wednesday it was on the verge of pumping in more money to support growth, potentially as soon as October.

Hewlett-Packard Co's board is considering ousting Chief Executive Officer Leo Apotheker after less than a year on the job and replacing him temporarily with former eBay CEO Meg Whitman, Bloomberg reported, citing two sources familiar with the matter.

Teenage smokers may have better luck quitting if physical activity is added to a traditional cessation program, says researchers at the West Virginia University concluded in a study released Monday.

Greece adopted yet more austerity measures on Wednesday to secure a bailout installment crucial to avoid running out of money next month, as the IMF warned that Europe's sovereign debt crisis risks tearing a giant hole in banks' capital.

A federal appeals court revived on Wednesday a lawsuit by homeowners who accused several major U.S. homebuilders of causing them harm by marketing neighboring homes to people at high risk of foreclosure.

Stocks slipped on Wednesday as cautious investors were skeptical that the Federal Reserve would offer any positive surpises with actions to further stimulate the faltering economy.

DigiNotar is bankrupt after getting hacked.

Retailers may face more moderate sales gains this holiday season as persistently high unemployment and higher gas and grocery prices prompt shoppers to think twice about spending.

Existing home sales rose more than expected in August to their highest level in five months as falling prices and low interest rates drew more buyers into a still moribund market.

Retailers may face more moderate sales gains this holiday season as persistently high unemployment and higher gas and grocery prices prompt shoppers to think twice about spending.

Greece's government will cut pensions, extend a property tax hike and put tens of thousands of public workers on notice as part of a deal to continue receiving aid funding from its international lenders, government officials said on Wednesday.

Fallout from the euro zone debt crisis and U.S. fiscal problems mean developed economies are more likely to contract than recover in coming months, economist Nouriel Roubini said on Wednesday.

Google Inc is confident that U.S. antitrust regulators will clear the search giant of any wrongdoing, Executive Chairman Eric Schmidt will tell a congressional panel on Wednesday.

General Mills Inc reported a better-than-expected quarterly profit on Wednesday, as price increases helped it contend with the much higher ingredient and fuel costs that ate into its margins.

The Federal Reserve on Wednesday looks set to launch a fresh effort to invigorate the faltering economic recovery, embarking on what could be the first in a series of incremental steps to foster stronger growth.

Brewing giant SABMiller agreed to buy Foster's Group for a sweetened price of A$9.9 billion ($10.2 billion) on Wednesday after talks between the two last week ended in a couple of beers which sealed the deal this week.

Stocks drifted lower on Wednesday as investors were reluctant to place bets ahead of a U.S. Federal Reserve announcement that is expected to present some action to speed up a lagging recovery.

President Barack Obama will meet Palestinian President Mahmoud Abbas on Wednesday to urge him to drop plans to ask the U.N. Security Council to recognize a Palestinian state despite U.S. and Israeli objections.

Europe's debt crisis has increased the risk exposure of banks in the region by 300 billion euros ($410 billion) and they need to recapitalize to ensure they can weather potential losses, the International Monetary Fund said on Wednesday.

Wall Street was set to open little changed on Wednesday as investors cautiously awaited the outcome from the Federal Reserve's policy-setting meeting that is likely to include new measures to boost the economy.

An 18-year study of a deep-sea squid or Octopoteuthis deletron, a 5-inch long tentacled creature that dwells a depth of 400 to 800m, found that males attempt to mate with any deep sea squid it comes across, whether its a male or female.

General Mills Inc reported a lower quarterly profit on Wednesday, as the food company was hit by higher ingredient and fuel costs.