IBT Staff Reporter

Portugal's financial sector can expect some relief after the caretaker government decided to seek financial aid after months of what many economists said was a refusal to acknowledge economic reality.

Virgin Atlantic needs a partner to remain competitive, founder Richard Branson told Bloomberg in an interview published on Wednesday.

Global food prices measured by the U.N.'s food agency may have come off record highs in March after falls in grain prices, but supply concerns and soaring oil prices mean such a move could just be a pause before new peaks.

Oil prices will soar above $130 a barrel by late 2011, a new Reuters poll found, and one in five traders said they expected oil to hit $150 this year, levels some economists say could trigger recession.

President Barack Obama held an urgent round of budget talks with U.S. congressional leaders on Wednesday evening to try to avert a government shutdown.

Hewlett-Packard Co on Wednesday sued a former high-ranking executive who had left to join rival Oracle Corp to stop him from sharing hundreds of documents HP claims he stole from the company.

Telus Corp will begin building a next-generation wireless network in major Canadian cities in the second half of the year, the telecom company said on Wednesday.

President Barack Obama asked U.S. congressional leaders from both parties to the White House on Wednesday for an urgent round of budget talks to avert a government shutdown.

Chemicals giant DuPont sued a California company on Wednesday, alleging it sold proprietary information on a lucrative line of specialty paint to Chinese rivals.

Bed Bath and Beyond Inc forecast earnings growth for the current year that would beat Wall Street estimates, following a holiday season that saw U.S. shoppers spend more on home goods, and its shares jumped 9 percent.

A lawyer and a trader were accused by federal prosecutors of running a 17-year conspiracy to trade on corporate merger secrets stolen from three of the nation's most powerful law firms, in one of the largest U.S. insider trading cases on record.

Bed Bath and Beyond Inc forecast earnings growth for the current year that would beat Wall Street estimates, following a holiday season that saw U.S. shoppers spend more on home goods, and its shares jumped 9 percent.

The statement counters a previous statement made by Sony America president Jack Tretton, who yesterday said that Sony may be forced to stagger the release of their next portable to keep with demand.

A former Gucci network engineer is being indicted for costing the company $200,000 through hacking into its servers.

Microsoft Corp and Toyota Motor Corp unveiled a plan on Wednesday to work together on bringing internet-connected services to Toyota's cars.

NYSE Euronext believes that any kind of merger with Nasdaq OMX -- whether the Big Board were the buyer or the seller -- makes little strategic sense, and antitrust regulators would block it, according to a source close to the company.

Portugal's caretaker government said on Wednesday it needs financing from the European Union, marking a turnaround after resisting asking for aid for months despite sharply deteriorating financial conditions.

The S&P 500 inched forward on relatively light volume on Wednesday, with investors adding selectively to winning positions, this time in technology, avoiding large bets ahead of earnings.

Many eyebrows were raised in the first leg of the quarter final between Chelsea and Manchester United when Chelsea manager Carlo Ancelotti substituted the effective Drogba for the out of sorts Torres.

Portugal's caretaker government said on Wednesday it had decided to seek financing from the European Union in an abrupt turnaround after resisting a bailout for months despite sharply deteriorating financial conditions.

An NYSE Euronext merger with Nasdaq OMX makes little strategic sense whether the Big Board were the buyer or the seller, and antitrust regulators would likely block it, according to a source close to NYSE.

Technology stocks led Wall Street slightly higher on Wednesday after comments from Cisco's chief executive bolstered optimism about the networking giant.

The two companies announced today a plan to bring internet-connected functionality to Toyota’s upcoming line of electric and hybrid vehicles.

The hacker collective Anonymous has made good on its threat to attack Sony, having launched a distributed denial-of-service attack on Wednesday afternoon.

Britney Spears' album Femme Fatale debuted No. 1 on the Billboard 200 chart, putting Spears in a tie for the third most No. 1 albums among women.

The S&P 500 index inched upward on relatively light volume on Wednesday, with investors adding to winning positions in technology stocks, but avoiding large bets ahead of corporate earnings due next week.

Brent crude oil prices rose to a 2-1/2-year high above $123 a barrel on Wednesday before erasing the majority of gains in volatile trade as market players fretted the recent rally was overdone.

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Technology stocks led Wall Street slightly higher on Wednesday after comments from Cisco's chief executive bolstered optimism about the networking giant.