IBT Staff Reporter

The watchdog panel for the $700 billion bank bailout faulted the U.S. government for the last time on Wednesday, saying the program helped underpin the perception that federal authorities will always prevent troubled financial firms from failing.

Producer prices surged in February at their fastest pace in just over 1-1/2 years, boosted by high food and energy prices, according to a government report on Wednesday that pointed to a build-up in pipeline inflation pressures.

Wall Street was set to open near breakeven on Wednesday following volatile futures trading after surging U.S. producer price and weak housing data, while investors were buffeted by Middle East political uncertainty and a nuclear crisis in Japan.

Oil prices rose by over $2 on Wednesday, with Brent topping $111 a barrel and rebounding from 3-week lows a day earlier as escalating violence in the Middle East renewed fears about oil supply in the region.

Years ago when nude photos of actress Vanessa Hudgens surfaced, she probably thought that nightmare was over. Little did she know those photos would come back to haunt her

Tencent Holdings, China's most valuable Internet company, said it plans to invest heavily in social networking, e-commerce and search, after posting a 46 percent rise in quarterly profit.

After Japan was rocked by a pair of disasters, Apple has announced that it is postponing its Japanese release of the iPad 2.

Apple has deferred the launch of its slimmer, lighter and faster rendition of iPad, the iPad 2, in Japan as the country grapples with massive destruction caused by a 9 magnitude earthquake and tsunami.

Nasdaq OMX Group Inc's possible counterbid for NYSE Euronext faces some big hurdles, including funding a complicated deal and convincing Big Board shareholders that it's better than Deutsche Boerse's offer, experts said.

Rapper Nate Dogg died Tuesday. He was 41. The cause of death is not yet known, but Nate Dogg, whose real name was Nathaniel D. Hale, had suffered strokes in 2007 and 2008 according to People.com.

Real Madrid will host Olympique Lyon at the Santiago Bernabeu on Wednesday in the second-leg of the last-16 round encounter, knowing that they can go through to the quarter-finals with a goalless draw.

PepsiCo Inc said it is extending its joint venture with Israeli food and beverage maker Strauss Group to sell fresh dips and spreads in key markets outside North America.

The troubled actor has added more dates to his Violent Torpedo of Truth Tour. Sheen will be bringing his show to Ohio, Connecticut, Boston and New York City.

Once upon a time, BlackBerry was king. Then came the iPhone, followed by Android. And BlackBerry seemingly lost its way -- if not quite its throne.

Media giant News Corp aims to build its own social-gaming business as valuations of games companies, such as FarmVille maker Zynga skyrocket, its head of digital media said on Wednesday.

Real Madrid will host Olympique Lyon at the Santiago Bernabeu on Wednesday in the second-leg of the last-16 round encounter, knowing that they can go through to the quarter-finals with a goalless draw.

A bankruptcy court in New York approved the sale of DBSD North America to DISH Network, in a $1.4 billion deal.

Japanese electronics manufacturers warned production would be hobbled by further supply and distribution problems as companies struggle with power blackouts after the disaster in Japan.

Japanese electronics manufacturers warned production would be hobbled by further supply and distribution problems as companies struggle with power blackouts after the disaster in Japan.

The 9 magnitude temblor which hit Japan on Friday sent tremors across the global supply chain as companies dependent on Japanese exports fretted over supply disruptions.

Google Inc's online video service YouTube said on Tuesday it has bought video technology company Green Parrot Pictures for an undisclosed sum.

The film is a $200 million-plus project that began shooting on November 2010 even though the script had barely been started, reported Reuters.

Bayern Munich midfielder Bastian Schweinsteiger, after his side's loss to Inter Milan on away goals in the Champions League last-16 round, had a scuffle with Marco Materazzi after the game and has sympathised with Zinedine Zidane for his infamous head-butt on Materazzi in the 2006 World Cup final.

American Pie actor Seann William Scott, has entered rehab for health and personal issues.

A group of Chinese authors have accused China's top search engine Baidu Inc of copyright infringement by allowing users to post their works online without their permission.

Mocavo Inc. has launched the the world’s largest free genealogy search engine - Mocavo.com - enabling instant search results for billions of names, dates and places worldwide.

Manchester United's summer acquisition, Javier 'Chicharito' Hernandez has been touted as the next Solskjaer after a performance against Marseille which invited gasps of joy from none other than his manager, Sir Alex Ferguson.

Foreign bankers are fleeing Tokyo as Japan's nuclear crisis worsens, scrambling for commercial and charter flights out of the country and into other major cities in the region.

The House of Representatives passed a three-week federal budget extension on Tuesday, sending the bill to the Senate where members must pass it ahead of a March 18 deadline or face the prospect of some federal services stopping until funds are made available.