IBT Staff Reporter

Egyptian mobile phone operator Mobinil said political turmoil and economic uncertainty hurt its first-quarter results, sending net income tumbling 93.6 percent year-on-year.

Starbucks Corp warned that rising fuel and dairy costs will take a bigger chunk out of earnings than previously anticipated, and offered a full-year forecast that disappointed Wall Street.

A former portfolio manager at Steven Cohen's SAC Capital Advisers LP will plead guilty on Thursday to charges arising from a federal probe of insider trading, a prosecutor said at a court hearing.

Boeing Co's quarterly profit rose 13 percent and beat expectations despite a slight decline in revenue as the company improved production efficiency on some key offerings such as the 737 and the 777.

The following are highlights from Federal Reserve Chairman Ben Bernanke's press conference on Wednesday after the central bank's monetary policy committee meeting. This is the first regularly scheduled press conference by a Fed chief.

PepsiCo Inc is introducing a social vending machine that lets users buy each other drinks remotely, further proof that its decades-old rivalry with Coca-Cola Co is going ever-more high tech.

Starbucks Corp's quarterly earnings failed to impress as Japan's earthquake and the bankruptcy of cafe partner Borders Group Inc weighed on profit.

Federal Reserve Chairman Ben Bernanke said on Wednesday a strong, stable dollar is in U.S. and global economic interests but could not say how long the Fed would maintain the loose monetary policy that has been blamed for its current weakness.

A former expert consultant to hedge funds pleaded not guilty to criminal conspiracy charges arising from a federal probe of insider trading.

General Electric Co sees its best earnings growth prospects in a decade as the global economic recovery drives demand for the heavy energy and aviation equipment it makes, top executives said.

The Nasdaq jumped to a 10-year high as U.S. stocks rallied on Wednesday after Fed Chairman Ben Bernanke's first-ever press conference did nothing to short-circuit investors' optimistic outlook on the economy.

French President Nicolas Sarkozy said Wednesday he would invite Internet business leaders to an end-May G8 summit to discuss regulation of the Web and he called for more scope for governments to tax Internet firms.

Telecoms gear maker Ericsson blasted past first-quarter core profit expectations thanks to surging mobile broadband sales but said it would take until the third quarter to resolve Japan quake supply problems.

Visa Inc has thrown its weight behind a mobile payments venture created by Twitter co-founder Jack Dorsey.

The U.S. Supreme Court ruled on Wednesday for an AT&T Inc unit seeking arbitration for a dispute over cellphone taxes rather than allowing customer claims to be brought together as a group.

Federal Reserve Chairman Ben Bernanke signaled on Wednesday that the U.S. central bank is in no rush to scale back its support for the economy with the labor market still in a very, very deep hole.

Whirlpool and Electrolux said shoppers will have to shell out more money to buy washers and dryers this year as the companies pay more for steel, copper and oil.

Senate Majority Leader Harry Reid - who is strongly against a budget proposal that will change the Medicare health care program for seniors to reduce costs - said Wednesday that he would test Republican senators commitment to the proposal by holding a vote.

Federal Reserve Chairman Ben Bernanke said on Wednesday a strong, stable dollar is in U.S. and global economic interests but could not say how long the Fed would maintain the loose monetary policy that has been blamed for its current weakness.

PlayStation gamers expressed shock on Wednesday at the massive data hack of Sony Corp that compromised their personal information, leaving many threatening to flock to Sony's competitors and other venues.

BP Plc and ConocoPhillips reported disappointing quarterly profits on Wednesday as the big oil companies' crude oil production fell, offsetting the windfall from soaring energy prices.

AT&T's rivals have asked U.S. regulators to combine a review of AT&T's proposed purchase of T-Mobile USA with their examination of its plan to buy wireless airwaves from Qualcomm Inc .

Two Lionel Messi late goals at the Santiago Bernabeu in a heated Champions League semifinal between Barcelona and Real Madrid to give the Catalans a vital away goal before the second leg next week.

The suit alleges that Sony did not do all it could to both prevent the instrusion and inform subscribers of its occurrence.

Berkshire Hathaway on Wednesday said David Sokol misled the company in the way he disclosed his financial interest in Lubrizol Corp before pushing Berkshire CEO Warren Buffett to buy it.

General Electric Co believes the global economy is continuing to improve and that rising oil prices have not yet taken a toll on growth, the largest U.S. conglomerate's chief executive said.

A former expert consultant to hedge funds will plead not guilty to criminal charges arising from a federal probe of insider trading, his lawyer said.

The U.S. Supreme Court ruled on Wednesday for an AT&T Inc unit seeking arbitration for a dispute over cellphone taxes rather than allowing customer claims to be brought together as a group.

The Federal Reserve signaled on Wednesday it is in no rush to scale back its extensive support for the U.S. economy and said a run-up in commodity prices that has dented growth should be fleeting.