IBT Staff Reporter

U.S. lawmakers on Wednesday called for tough new measures to punish China for its failure to stop widespread piracy and counterfeiting of U.S. goods ranging from music CDs to manufactured products.

Senate Republicans on Wednesday delayed action to restore U.S. unemployment benefits for those who have been out of work the longest, prolonging a partisan standoff even though the measure is certain to pass.

U.S. stocks were little changed on Wednesday as caution before comments from Federal Reserve Chairman Ben Bernanke on the economy and interest rates offset optimism over solid earnings news.

The United States will make China a significant focus of its beefed-up efforts to fight global piracy and counterfeiting of U.S. goods ranging from CDs to manufactured products, a U.S. official said on Wednesday.

Toyota Motor Corp plans to reduce its domestic vehicle production by about 20 percent from October as it expects a drop in demand after the Japanese government ends subsidies on purchasing so-called eco cars

Overweight people may respond more to a piping hot pizza, but they don't necessarily eat more of it in a single sitting, according to a new study.

Melanoma is on the rise among certain groups of dark-skinned Floridians, new research shows.

Drugmakers Merck, Tibotec and Gilead are in advanced talks with UNITAID about a patent pool to make AIDS drugs more widely available to the poor, the health funding agency said on Wednesday.

If you haven't paid due attention to the movements of copper prices in the market, this is the right time to do so. Copper inventories fell further as measured by the London Metals Exchange, by 0.8 per cent to 423,850 tonnes, the lowest level since November 20. Copper supplies are down a staggering 16 per cent this year.

China's experiment with oil eating bacteria to help clean oil spill areas in its northeast coast near Dalian city was proved to be a success, said country's Maritime Safety Administration. It's the first time that China is making use of bio-technology and bio-oil-absorbing products to solve an environmental pollution issue.

World's second largest rice exporter Vietnam is facing one of the toughest periods in its farming history. According to Mekong Delta Rice Research Institute, the country may lose one million tons of the grain this season as surpluses, the beginning of the wet season, and a shortage of places for drying wet rice are adding up to heavy potential losses.

In order to ease the burden of enhancing food grains stocks and facilitating space for new crops, India is planning to clear off buffer stocks by selling around 3 million metric tons to states.

Gold prices have fallen sharply from all-time high of $1265 on June 21st on reassessment of US economic prospects by some gold traders and investors, and an abatement in perceived European sovereign risk, accoridng to Jeffrey Nichols, Senior Economic Advisor to Rosland Capital. However, he has maintained a bullish view on gold on loss of confidence in dollar and inflation.

BP Plc defended its embattled chief executive on Wednesday and denied a report he would leave soon as the company explored a new approach in the Gulf of Mexico to end the worst oil spill in U.S. history.

Wells Fargo & Co and US Bancorp, two of the largest banks in the United States, said rising loan demand helped lift their earnings more than analysts had expected.

At a time gold is glittering at above $1,200 per ounce level, nobody is interested in its poor cousin silver. But, the truth is different. Those who want to invest in precious metals should now keep a close watch on silver.

U.S. mortgage applications jumped last week as demand for loans to purchase homes rose for the first time in five weeks, the Mortgage Bankers Association said on Wednesday.

Increased housing commitments swelled U.S. taxpayers' total support for the financial system by $700 billion in the past year to around $3.7 trillion, a government watchdog said on Wednesday.

Britain has pulled an interactive website asking the public to suggest ways of cutting government spending citing attacks after it attracted a range of bizarre proposals and rants against minorities.

Brazilian state prosecutors in Rio de Janeiro opened a formal investigation into Google over pedophilia, defamation and false identity on its social networking site Orkut, O Estado de S. Paulo newspaper reported on Wednesday.

The United States will make China a significant focus of its beefed-up efforts to fight global piracy and counterfeiting of U.S. goods ranging from CDs to manufactured products, a U.S. official said on Wednesday.

United Technologies Corp posted a 13.7 percent increase in quarterly profit and raised its full-year growth target for the second time this year, as its chief executive said demand was improving.

Wells Fargo & Co , the fourth-largest U.S. bank, posted higher-than-expected quarterly earnings, helped by declining losses on commercial and consumer loans.

Stocks were little changed on Wednesday as uncertainty over what Federal Reserve Chairman Ben Bernanke would tell a Senate committee blunted optimism after a stream of solid earnings.

Wells Fargo & Co , the fourth-largest U.S. bank, reported lower second-quarter profit, but losses on commercial and consumer loans declined from the first quarter.

Wells Fargo & Co , the fourth-largest U.S. bank, reported lower second-quarter profit, but losses on commercial and consumer loans declined from the first quarter.

Stocks trimmed early gains on Wednesday to trade little changed as enthusiasm over earnings from the financial sector and Apple were tempered by caution ahead of testimony from Federal Reserve Chairman Ben Bernanke.

Stocks rose on Wednesday as solid earnings from technology giant Apple as well as financials Morgan Stanley and Wells Fargo tempered growth worries.

An Australian scientist who invented the flight data recorder famously known as the black box to help investigate aircraft accidents has died at the age of 85, defense officials said on Wednesday.