IBT Staff Reporter

Rep. Chris Lee, R-NY, has resigned, saying he regretted the harm that my actions caused his family, staff and constituents, on the same day that an online publication published a story alleging he corresponded with a woman who posted a personal ad on Craigslist, sending a shirtless photo of himself.

Cisco Systems Inc's quarterly sales beat expectations, despite concerns about increasing competition and budget cuts among debt-burdened clients in the public sector.

A bid by the London Stock Exchange to take over TMX Group, operator of the Toronto Stock Exchange, resurrects the debate on whether Canada is really open for global business, or if regulatory and political hurdles are set to wreck another high-profile deal.

Deutsche Boerse is in advanced talks to buy NYSE Euronext in a deal that would create the world's largest trading powerhouse and put a bastion of American capitalism into foreign hands.

Whole Foods Market Inc raised its 2011 profit outlook after a sharp acceleration in sales, quashing fears of a growth slowdown and underscoring how better-off U.S. shoppers are spending more freely.

Economists took their turns encouraging and attacking the policies of money supply managers of the U.S. Federal Reserve System on Wednesday, as the nation faces 9 percent unemployment, slow economic growth and rising federal debt and deficits.

France's Alcatel-Lucent will on Thursday lay out its targets for 2011, with investors keen to see whether CEO Ben Verwaayen delivers on a long-awaited turnaround of the struggling telecoms gear maker.

A National Advertising Review Board panel has urged Time Warner Cable to stop making claims in ads that the cable company's services are provided on a fiber or fiber optic network.

Activision Blizzard Inc's first-quarter outlook was below Wall Street expectations and it said would disband the unit that makes Guitar Hero music games, sending its shares down 8 percent.

Gold was little changed on Wednesday as the market was underpinned by a dollar drop and Federal Reserve Chairman Ben Bernanke's comment that he had no plans to scrap a massive bond-buying program, indicating interest rates will not rise any time soon.

Nokia CEO Stephen Elop wasn't wrong in his memo to employees; the Fin-based cell phone manufacturer is moving in the wrong direction.

Hewlett-Packard Co unveiled its entrant in the tablet race, betting its TouchPad summer release will keep it in the running in a booming market dominated by Apple Inc's iPad and devices running Google Inc software.

Investors took profits after a recent rise in U.S. stocks on Wednesday but a late-hour rally in Bank of America shares helped the Dow squeeze out its eighth straight day of gains.

Whole Foods Market Inc shares rose 8.1 percent on Wednesday after accelerating sales eased worries that the gains that have driven a 90 percent one-year stock rise were ending.

Wall Street edged lower on Wednesday as investors booked profits after stocks hit new 2 1/2-year highs, but strong earnings made it likely the market would continue an upward trend.

A Sony employee accidentally re-tweeted a code that allows users to get around the security on a Playstation 3 -- at the same time the company is suing a hacker for publicizing code with a similar function.

Network equipment maker Cisco Systems Inc's weaker quarterly margins seemed to confirm investors' fears that growing competition may be forcing the company to cut prices to protect market share.

Microsoft Corp named veteran insider and expert engineer Satya Nadella as the head of its $15 billion server and tools business, as it looks to revitalize its push into cloud computing.

Charlie Sheen notified the crew of the show Two and a Half Men that he would pay a portion of their salaries for the two weeks the show has been off-air as long as CBS and Warner Bros. agree to pay the remainder, TMZ reports.

Treasury Secretary Timothy Geithner on Wednesday strongly pitched increased bipartisan cooperation among lawmakers as vital for building business and market confidence in the economy's growth.

In a recent article in Marie Claire magazine, Miley Cyrus admits it was a mistake to smoke salvia out of a bong.

For the first time since becoming chief executive of Coca-Cola Co in 2008, Muhtar Kent looked at the sales scorecard he carries around all the time and saw no red marks.

Deutsche Boerse is in advanced merger talks with NYSE Euronext , two people familiar with the matter said, the day's second big piece of bourse merger news.

Singer Ashlee Simpson-Wentz filed for divorce from her rock star husband Pete Wentz, Tuesday, People.com reports.

Investors took profits on recent gains in U.S. stocks on Wednesday, but a last-minute rise in Bank of America helped lift the Dow to its eighth straight day of gains.

Deutsche Boerse is in talks to tie up with peer NYSE Euronext , two people familiar with the matter said after trading in the two companies' shares was halted amid heavy speculation about a team-up.

Stripping away the Palm branding, HP also announced a pair of smartphones

The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony on the economy to the House Budget Committee on Wednesday.

A bid by the London Stock Exchange to take over TMX Group, operator of the Toronto Stock Exchange, reopens the debate on whether Canada is really open for global business, or if regulatory and political hurdles are set to wreck another high-profile deal.