IBT Staff Reporter

Stocks fell sharply on Wednesday after weaker manufacturing data from China and a gloomier growth outlook from the Federal Reserve heightened fears of a lackluster global economic recovery.

U.S. job openings were flat in June while the number of new hires slipped, according to a government report on Wednesday that underscored the persistent weakness in the labor market.

Securities regulators on Wednesday said they are moving forward with technical fixes in the wake of the still-unexplained May flash crash, but some market players say they want a more wholesale review of high-speed trading.

Macy's Inc quarterly results on Wednesday showed that the department store retailer boosted sales and gained market share without relying as much on discounts as it rivals did to get shoppers into stores.

The Bank of England left the door open on Wednesday for more monetary easing, cutting its forecast for UK economic growth and predicting that inflation would fall well below its 2 percent target in two years.

A 15-minute brain scan could in future be used to test for autism, helping doctors diagnose the complex condition more cheaply and accurately.

An electronic nose could be used as a simple breath test to detect lung, breast, bowel and prostate cancers, Israeli scientists said Wednesday.

Stocks indexes were set to fall more than 1 percent at the open on Wednesday after weaker manufacturing data from China and a gloomier growth outlook from the Federal Reserve underscored a lackluster global economic recovery.

A new superbug could spread around the world after reaching Britain from India -- in part because of medical tourism -- and scientists say there are almost no drugs to treat it.

Stock index futures dropped sharply on Wednesday as weaker manufacturing data in China and a gloomier economic outlook from the Federal Reserve led to mounting concerns about the health of the global economy.

Money managers, academics and regulators converged here on Wednesday to discuss the flash crash that three months ago sent the stock market plunging 700 points within minutes and shook investors' confidence.

Global oil demand growth will inch higher over the rest of this year and into 2011, but any rise will be wiped out if the economy is weaker than forecast, the International Energy Agency said on Wednesday.

The German government said on Wednesday it will scrutinize Google's promise to respect privacy requests by letting people opt out of its Street View mapping system and that it would be ready to intervene if necessary.

China has been buying record amounts of Japanese government debt because it is less risky than U.S. debt, at least in the short term, a Chinese government economist said on Wednesday.

Macy's Inc reported higher-than-expected quarterly earnings on strength in its exclusive lines and at its upscale Bloomingdale's chain, and the retailer raised its full-year sales and profit forecasts.

A key element of the U.S. government's investigation of Toyota Motor Corp <7203.T> electronic throttles and other systems found no defects beyond what is known to explain crashes blamed on unintended acceleration, the Transportation Department said on Tuesday.

The trade deficit widened a surprising 18.8 percent in June on a surge of consumer goods from China and other suppliers, suggesting second-quarter economic growth was much weaker than previously thought.

Technology licensing firm Wi-Lan Inc said on Wednesday it has settled all patent litigation with telecoms equipment maker UTStarcom Inc.

Food groups Nestle and CSM warned of a tougher second half due to rising costs but said price increases and forward buying will mitigate the impact of higher wheat and other commodity prices.

Apple Inc's Japan unit will replace any iPod nano portable music players that overheat, it said in an online statement, improving an earlier offer to replace only their faulty batteries.

Macy's Inc reported better-than-expected earnings as its exclusive lines helped it win market share and its upscale Bloomingdale's chain benefited from a pickup in luxury spending.

The tax investigator thinks she's nearly cracked it. For months the civil servant has pored over storage inventories, confiscated computer files and the bank records of Greek doctors pointing to millions of euros not explained by their pay slips.

India may temporarily shut down BlackBerry services if security concerns are not addressed in a meeting on Thursday, sources said, in a signal the Canadian firm's tussle with authorities around the world is far from over.

General Motors Co is preparing to report second-quarter results that will show a substantial gain over the first quarter in a report it will use to bolster its bid to return to capital markets and pay back taxpayers, two people familiar with the matter said.

Irrespective of the bleak global economic prospects, global oil demand is likely to rise by 2.2 percent for the rest of the year, said the International Energy Agency.

Kazakhstan expected to succumb to Russian pressure for barring wheat exports outside the Commonwealth of Independent states in order to establish monopoly on their grain supplies.

British inflation will fall well below its 2 percent target in two years, even if interest rates remain at record lows, the Bank of England said on Wednesday, leaving scope for further policy easing if the economy worsens.

Corrects level of interest rate to 0.5 percent from 2.0 in 11th paragraph

A New Jersey insurance regulator has concluded that Prudential Financial Inc properly handled life-insurance benefits in a controversial matter involving a U.S. soldier killed in Afghanistan, the Wall Street Journal said on Tuesday.