IBT Staff Reporter

In a stunning blow to President Barack Obama, Republican Scott Brown won a bitter Senate race in Massachusetts on Tuesday and promised to be the deciding vote against his sweeping healthcare overhaul.

The Treasury Department persuaded some big banks to pay more than market estimates to repurchase warrants issued to the government in the financial crisis, the Wall Street Journal said, citing a draft Treasury report.

Economic freedoms were sharply reduced last year on massive spending and bailouts during the financial crisis, a trend that could imperil future economic prospects, the U.S.-based Heritage Foundation said on Wednesday.

World stocks slipped on Wednesday after reports of bank lending restrictions in China, while the euro hit a five-month low against a broadly stronger dollar with concerns about Greece's fiscal problems nagging investors.

A supplier to Toyota Motor Corp secured a lithium supply deal in Argentina on Wednesday that could help the world's largest automaker keep its lead in gasoline-electric hybrid cars.

Sony Corp said it would postpone the launch of a motion controller, or wireless controlling device, for its PlayStation 3 to the autumn of 2010 from this spring, marking the second delay of a major product release in as many weeks.

The United States has had multiple meetings with Chinese authorities over Internet freedom and will have more in the coming days, a top State Department official said on Tuesday amid continuing tensions between Google and Beijing.

The euro fell to a five-month low against the dollar on Wednesday as investors seized on Greece's fiscal woes to drive the currency below key support, while shares in China were hit by reports of bank lending restrictions.

The euro fell broadly on Wednesday, hitting a four-month low against the dollar on concern about Greece's fiscal problems and breaking below a key chart level that could signal a bearish trend for the currency.

Oil extended losses toward $78 a barrel on Wednesday on tighter credit policy in China, a stronger dollar and expectations that U.S. refiners processed less crude.

Oil slid to below $79 a barrel on Wednesday on a stronger dollar, tighter Chinese credit policy and expectations that refiners at top consumer the United States processed less crude.

The euro slumped to four-month lows on Wednesday as the loss of a crucial support level triggered a wave of selling from investors afraid the single currency was embarking on a sustained slump.

The Massachusetts special elections have become a high-stakes national contest on Tuesday.

Federal Reserve officials on Tuesday launched a vigorous defense of their dealings with American International Group , calling for a congressional audit and denying any inappropriate action with respect to payments the bailed-out insurer made to banks.

President Barack Obama would have a far tougher time advancing his agenda if the Republican candidate wins the special election in Massachusetts on Tuesday to replace the late Edward Kennedy, a Democratic icon, in the Senate.

Massachusetts on Tuesday could elect the state's first Republican to serve in the U.S. Senate in decades, a stunning upset that would undermine Democrats' dominance in Washington.

IBM raised its 2010 profit target and reported a stronger-than-expected, 9 percent increase in fourth-quarter earnings, as cost cuts and a shift to more profitable contracts helped it weather a slump in corporate spending.

The Australian dollar trade in a V shape pattern overnight falling from Asian close around 0.9240 to a low of 0.9180 only to bounce back to open this morning around 0.9240. Negative sentiment surrounding the Euro added support to the Greenback against the majors inspiring the move lower however with U.S equities and commodities once again performing well AUD/USD bounced back quickly. The Aussie appears to be range bound at present with resistance around the 93 cent handle proving difficult to br...

Microsoft announced that it will issue a n emergency path for its Internet Explorer browser that will close up a security hole hackers used to exploit a number of US technology companies.

After reporting steep profit drops on Tuesday, the top two U.S. online brokerages asked for patience as they face more of the same low interest rates and hope their clients return to the markets in force this year.

The International Business Machines Corp. (IBM) announced on Tuesday its fourth-quarter earnings of 2009.

IBM raised its 2010 profit target and reported a stronger-than-expected 9 percent increase in fourth-quarter earnings, as cost cuts and a shift to more profitable contracts helped it weather a slump in corporate spending.

Events in health insurance, basic materials and utilities sparked a rally in the stock market on Tuesday as investors looked past earnings.

Stocks rose broadly on Tuesday, lifting the Dow and the S&P 500 to fresh 15-month closing highs as investors bet a potential Republican victory in Massachusetts' Senate race could stall Obama's reform agenda.

Most young women believe they will achieve a balance between a rewarding career and a fulfilling personal life, despite the economic upheaval and a legacy of corporate culture that favors men, a survey shows.

U.S. technology professionals are more frustrated with their pay than they have been in years as their salaries stagnate, according to an annual survey of about 17,000 visitors to the Dice.com website.

Citigroup Inc posted a $7.6 billion quarterly loss on Tuesday, but the bank's shares rose as declining loan losses raised hopes that the worst might soon be over.

Share buybacks by U.S. corporations could be back in style this year as an improving economy makes companies more willing to loosen their purse strings to fund transactions that could reward investors with a higher share price.

Stocks rose broadly on Tuesday, lifting the Dow and the S&P 500 to fresh 15-month closing highs as investors bet a potential Republican victory in Massachusetts' Senate race could stall Obama's reform agenda.