IBT Staff Reporter

Serial entrepreneur Jason Goldberg has developed a new social networking site aimed at gay men that he called a cross between Facebook and Yelp.

Google Inc said on Wednesday it would build a super high-speed broadband network for up to half a million people in order to experiment with the possibilities of a network running at 100 times current speeds.

The outlook of small business owners remained bleak at the start of the new year, according to a survey released on Tuesday by the National Federation of Independent Business.

Amy Nichols, a small business owner, is tired of the healthcare debate and is relieved President Obama has turned his attention toward her biggest concern: access to credit.

European nations finally gave some public indications this week that they may orchestrate some sort of bailout for Greece as investors grow increasingly concerned.

Goldman Sachs Group Inc , which held down executive pay last year, has no magic formula for setting compensation in 2010, Chief Financial Officer David Viniar said on Wednesday.

President Barack Obama said he doesn't begrudge the chief executives of JPMorgan Chase and Goldman Sachs their bonuses but called their pay extraordinary.

The Dow and the S&P 500 briefly turned positive on Wednesday as financial shares advanced, helping the broader market reverse steep losses seen earlier in the session.

U.S. stocks fell on Wednesday as investors took a dim view of comments from the Federal Reserve chairman that although he still expects low interest rates for some time, the cheap funding that has underpinned a market rally since last March would end eventually.

Discovery Communications Inc reported a 46 percent jump in fourth-quarter profit on the back of strong distribution revenue and advertising sales in its international TV business.

After trading mostly flat in the first 30 minutes of trading, U.S. stocks fell as Fed Chairman Ben Bernanke discussed his exit strategy. However, the stock market is still being cushioned by hopes of a Greece bailout.

Oil dipped below $73 in choppy trade on Wednesday after OPEC trimmed its 2010 global demand growth forecast and as the dollar strengthened against the euro.

Sprint Nextel Corp's fourth-quarter revenue fell 7 percent and missed Wall Street expectations as the No. 3 U.S. mobile service offered more price discounts to curb subscriber losses.

President Barack Obama found common ground with Republicans on Tuesday over his top priorities of job creation and deficit reduction but drew a rebuke on healthcare reform.

Grumpy colleagues, slow computers and office jargon are the things that annoy workers most, according to a survey on Wednesday.

European governments are considering various options to help heavily indebted Greece in what would be the first rescue of a euro zone member in the currency's 11-year history.

The Federal Reserve could begin pulling back its unprecedented stimulus for the U.S. economy by first removing some cash from the financial system and then raising interest rates, Fed Chairman Ben Bernanke said on Wednesday.

Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags, as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis.

Stocks fell on Wednesday after Federal Reserve Chairman Ben Bernanke's comments on how the central bank could exit extraordinary stimulus measures turned investors jittery about the economy's recovery.

Honda Motor said on Wednesday it aims to sell at least 632,200 vehicles in China this year, up 10 percent from 2009, though the pace of growth will likely slow compared with a surge last year due to government incentives.

Toyota Motor Corp was not accustomed to outsiders telling it what to do, let alone some obscure bureaucrat from the United States.

As the U.S. Congress gears up to delve into Toyota Motor Corp's (7203.T) massive global vehicle recall, the question they face is whether the automaker and regulators misread or ignored rising consumer complaints.

A U.S. congressional committee postponed a hearing scheduled for Wednesday to examine recent vehicle recalls and how Toyota Motor Co and regulators responded to reports of safety problems with big-selling cars.

New York Times Co posted a higher-than-expected quarterly profit on Wednesday after slashing costs, but the newspaper publisher warned that print advertising will continue to decline in the current quarter.

Stocks turned lower on Wednesday after Federal Reserve chairman Ben Bernanke outlined a path the Fed could take to begin pulling back its unprecedented stimulus for the U.S. economy when the time comes.

Wyndham Worldwide Corp , franchiser of Days Inn, Ramada and Super 8 hotels, posted better-than-expected quarterly profit on Wednesday and said it was tripling its quarterly dividend.

Discovery Communications Inc reported a 46 percent jump in fourth-quarter profit on the back of strong distribution revenue and advertising sales in its international TV business.

New York Senator Hiram Monserrate, who was found guilty of a misdemeanor assault charge in October for dragging his girlfriend at his apartment, said he will fight his expulsion from the State Senate in court.

The Federal Reserve could begin pulling back its unprecedented stimulus for the U.S. economy by first removing some cash from the financial system and then raising interest rates, Fed Chairman Ben Bernanke said on Wednesday.