IBT Staff Reporter

The Congress put the last pieces in place on Wednesday to begin hammering out a historic financial regulation overhaul, a day after primary elections vindicated get-tough-on-Wall Street politics.

There is a good chance that a sweeping U.S. financial reform bill will be passed in a reasonable form, White House economic adviser Paul Volcker said on Wednesday, adding the bill could provide a basis for international coordination on coherent legislation.

New strategic brinkmanship by the Democratic People's Republic of Korea (DPRK); a now-clear determination by the People's Republic of China (PRC) to more aggressively assert its territorial claims in regional waters; the near-collapse of Japanese strategic cohesion during 2010; and the increasing signs of US political caution in North-East Asia, all point to a period of strategic concern for the Republic of China, particularly in its maritime responsibilities.

Violent videogames can increase aggression and hostility in some players but they can also benefit others by honing their visual/spatial skills and improving social networking ability, scientists said.

Walgreen Co can make up for any revenue shortfall caused by its split with CVS Caremark Corp over their pharmacy benefits management arrangement, Walgreen's CEO said, noting he sees little chance of reconciliation.

Hewlett-Packard Co was sued on Wednesday by a New Jersey company that accused it of stealing and using its trade secrets to make replacement laser printer cartridges, and threatening its survival.

The Australian dollar found some support from the release of strong Chinese trade data yesterday. The unofficial report served to support the view that the Chinese economy is still performing very strongly, in contrast to the current situation in Europe.

AT&T Inc said on Wednesday users of Apple's iPad may have had their personal information exposed through a network security flaw.

BP Plc shares tumbled nearly 16 percent on U.S. exchanges to a 14-year low on Wednesday on rising fears about how the wounded company will cope with the massive costs of the Gulf of Mexico oil disaster.

BP Plc shares tumbled nearly 16 percent on U.S. exchanges to a 14-year low on Wednesday on rising fears about how the wounded company will cope with the massive costs of the Gulf of Mexico oil disaster.

The Australian Dollar opens higher today against the big dollar at 0.8270. Recent gains fizzled out during local trade yesterday as Asian equity markets pulled back helping to push the Aussie down to an intraday low just above US82 cents.

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The world's leading gaming hardware makers, hoping to reignite the slumping $60 billion industry, will unveil at E3 next week a range of futuristic gadgets designed to pull in a new generation of players.

BP Plc has bought terms such as oil spill from search engine providers including Google Inc to help direct Internet users to its website as it attempts to control the worst oil spill in U.S. history.

There is a good chance that the sweeping U.S. financial reform bill will be passed in a reasonable form, White House economic adviser Paul Volcker said on Wednesday, adding the bill could provide a basis for international coordination on coherent legislation.

BP shares trading on U.S. exchanges fell more than 15 percent to a 14-year low on Wednesday on growing worries about the costs the oil company will incur after the Gulf of Mexico oil leak.

Motorola Inc is seeing strong demand for its Droid phone at Verizon Wireless despite the popularity of rival HTC Corp's Droid Incredible, co-Chief Executive Sanjay Jha said on Wednesday.

Stocks fell on Wednesday in another late-day roller-coaster ride, dragged lower by BP and other energy shares as the U.S. probe of the oil spill in the Gulf of Mexico deepened.

Someone has bid $700,100 to dine with billionaire investor Warren Buffett in an annual charity auction, putting the bidding far ahead of last year's level.

CVS Caremark Corp will remove Walgreen Co from its pharmacy benefits management network in retaliation for Walgreen's decision to stop filling prescriptions for new CVS Caremark business.

Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economic recovery was on a solid footing but cautioned it could be years before the jobs lost during the deep recession of 2008-2009 are restored.

Economic activity improved nationwide last month, but worries about Europe's debt crisis dented confidence, the Federal Reserve said in its Beige Book collection of anecdotal reports.

U.S. economic activity improved nationwide last month, but worries about Europe's debt crisis dented confidence, the Federal Reserve said in its Beige Book collection of anecdotal reports.

Activist investor Carl Icahn has abandoned his proxy fight at Genzyme Corp in return for the biotechnology company's acceptance of two of his representatives to its board.

Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economic recovery was on a solid footing but cautioned it could be years before the jobs lost during the deep recession of 2008-2009 are restored.

BP shares trading on U.S. exchanges fell 14 percent in New York on Wednesday on growing worries about the costs the oil company will incur as a result of the Gulf of Mexico oil leak.

(Linda Stern is a freelance writer. Any opinions in the column are solely those of Ms. Stern. You can follow Linda Stern's financial notes on Twitter at http://www.twitter.com/lindastern)

Germany dashed Opel's hopes of receiving state aid on Monday, at least initially, in a ruling the carmaker believes was motivated by sovereign debt crisis rather than anger over perceived sins committed by its Detroit parent.

Hyatt Hotels Corp is trying to lock its workers into recession-era wages despite an economic uptick that has helped bolster shares about 40 percent since Hyatt's initial public offering in November, a union spokeswoman said on Wednesday.