IBT Staff Reporter

Morgan Stanley aims to raise 1.5 billion yuan ($230 million) in its first yuan-denominated private equity fund in China, joining rivals such as the Carlyle Group and Blackstone for a piece of the booming market.

Journalist Dorothy Parvaz has been released by the Iranian authorities and is back in Doha, on early Wednesday.

The European Union and United States are preparing to hit Syria's leaders with new sanctions as anti-government protesters are still facing a brutal crackdown.

The broadening euro zone recovery means the need for economic or monetary stimulus is fading, European Central Bank policymaker Juergen Stark said on Wednesday, adding there needs to be a realization that a euro zone bail out is forbidden.

China's yuan will one day play a major role as a global reserve currency, although the U.S. dollar will remain an important currency, European Council President Herman Van Rompuy said on Wednesday.

Asia shares rose from a six-week low Wednesday, led by consumer stocks, but disappointing U.S. data have made some investors reluctant to follow commodity prices higher, containing a bounce in risky assets from currencies to oil.

Takeda Pharmaceutical Co <4502.T>, Japan's largest drugmaker, will announce the 1 trillion yen ($12 billion) purchase of closely held Swiss rival Nycomed on Wednesday as it seeks to expand in Europe and emerging markets, Japanese business daily Nikkei reported.

Google’s Superfast broadband internet service will be launched in Kansas City, Mo. by 2012 beginning and then it will tip-toe to the Missouri side of the state line in the next few months.

The arrival of a unique oil rig off communist Cuba is set to cause waves in Washington, raising questions about U.S. drilling permits and the response to any disaster, a conference heard on Tuesday.

According to various media reports a former Egyptian military officer turned al-Qaeda militant has been chosen to head Osama bin Laden's terror network temporarily until the slain leader's successor is officially named.

After the talks with King Abdullah II of Jordan ahead of a full week of intense negotiation, Obama has guaranteed that he will call for a two-state solution for the Israel-Palestine conflict.

The Golden State Warriors were unable to move up in the 2011 NBA draft lottery and will stay at their number 11 spot. The Warriors had only a 0.8% chance of winning and a 2.9% chance of moving into one of the top three spots in the draft that will occur on June 23.

Google announced earlier this year that they plan to increase their hiring efforts by adding over 6,200 new employees. The Mountain View company kept its word by leasing a new campus as huge as 630,000 square feet. This marks Google's third campus which will be an addition to their 19 acre property on Charleston Road.

According to TMZ, it has been revealed that Schwarzenegger fathered a boy with his maid named Mildred Patricia Baena (she goes by Patty), who was a housekeeper/assistant for the family for more than 20 years. Her jobs included cleaning, laundry, cooking and other chores.

Sony Corp's CEO was unapologetic about the company's delay in informing owners of more than 100 million accounts of its networked services whose information was stolen by hackers last month.

The mother of Arnold Schwarzenegger's child born out of wedlock has been identified and revealed, according to a report.

Dell Inc. (DELL), the world's second-largest personal-computer maker, saw first quarter profit climbed 177 per cent to $945m. Non-GAAP earnings were 55 cents a share while revenue eased up 1 percent to $15 billion.

The latest photos of French First Lady Carla Bruni-Sarkozy have further raised speculation that the wife of President Nicolas Sarkozy is pregnant.

In Loretto, Kentucky, Greg Davis of Maker's Mark carries on an old family tradition of making bourbon with red winter wheat to stimulate taste buds in the front of the mouth.

Greg Henderson took the reins from stage 2 winner Ben Swift as Team Sky took its second consecutive win to dominate the early part of the Tour of California.

Hewlett-Packard Co slashed its 2011 earnings forecast as it embarks on a spending spree to revamp a troubled division, while long-time foe Dell Inc delivered another blowout profit.

Boxing great Sugar Ray Leonard has revealed that he was sexually abused by a prominent Olympic boxing coach.

Wal-Mart Stores Inc's U.S. same-store sales have fallen for two straight years, as customers struggle with high unemployment and wages that are not keeping up with rising prices for food and other basics.

Apple is said that they may be planning something big to celebrate the 10th anniversary of its retail stores this Thursday, according to a source cited by The Boy Genius Report.

A 30-year-old man who allegedly abducted a 9-year-old from her family’s apartment was arrested and behind bars, according to the Riverside police.

If you have seen people flashing boards and passing out flyers reading 'God's judgment day - May 21, 2011' then you can be sure that these claims were most likely made by Harold Camping's prediction of earth's judgment day.

Hundreds of health organizations and professionals signed a letter to McDonald's Corp , asking the fast-food chain to stop marketing junk food to children, including with Happy Meals and the Ronald McDonald clown character.

Intel's chief executive rejected speculation the world's largest chipmaker might adopt rival ARM Holdings' technology to build mobile chips and said smartphones using its silicon are about a year away.

The New York Public Library launched a new iPad app today.