IBT Staff Reporter

Chevron Corp said on Wednesday it had filed an international arbitration claim against Ecuador, opening a new front in its defense against a $27 billion environmental damage claim in Ecuadorean court.

Automakers backed calls to ban drivers on U.S. roads from text messaging with cell phones and other hand-held devices, an issue gaining attention from the Obama administration and Congress.

Canadian intellectual property company Gennum Corp swung to a third-quarter loss, hurt by a restructuring charge and reduced inventory levels at customers.

Telecom equipment maker, Comtech Telecommunications Corp posted a fourth-quarter profit that beat Wall Street expectations, helped by the acquisition of communication-equipment maker Radyne Corp.

Google Inc expects to buy one small company a month as it rekindles its acquisition engine and moves beyond the worst phase of the global recession, Chief Executive Eric Schmidt said in an interview on Wednesday.

CW television announced its new reality docu-series called Fly Girls set to debut mid-season.

Marriott International Inc said it would cut prices and scale back development plans for its luxury timeshare segment, resulting in a $760 million charge, because of soft demand in this business.

Chinese solar wafer manufacturer ReneSola said on Wednesday that it will buy Dynamic Green Energy Ltd for about $88.5 million, mostly in stock, expanding the parts company into the market for solar panels, the final product sold to produce energy.

Volkswagen (VOWG.DE) expects global car markets to stagnate next year, a top executive said on Wednesday, calling on staff to help the world's third-largest automaker catch the sector leaders.

Apple Inc. received approval from an industry group to block rival Palm Inc.'s Pre phone from connecting with iTunes software.

Eight initial public offerings are scheduled to price and begin trading by the end of this week in what is likely to become the busiest week for U.S. IPOs since December 2007.

U2 is performing tonight at the Giants Stadium in New Jersey for its 360° Tour which critics have called one of the best stadium shows of the last decade, according to Chicago Tribune's Greg Kot.

Julius Baer's U.S. asset management arm Artio Global Investors Inc is set to price its U.S. initial public offering after Wall Street closes on Wednesday in what is likely to be a test of investors' appetite for new financial issues.

Stocks fell on Wednesday as investors worried the Federal Reserve is closer to pulling back on extraordinary measures to inject funding to shore up the economy.

Toyota Motor Corp will sell its brokerage unit to Tokai Tokyo Financial Holdings Inc as part of efforts to consolidate resources into automobile operations, the Nikkei business daily reported.

Russia's richest man, Mikhail Prokhorov, reached a deal to buy control of the New Jersey Nets basketball team, as well as fund the development of a real estate project in Brooklyn, New York.

Chinese online video games company Shanda Games Ltd has raised the number of shares it plans to sell in its initial public offering later this week by nearly a third, with estimated proceeds now reaching $960 million.

Cadbury Plc Chief Executive Officer Todd Stitzer detailed potential benefits from a takeover by Kraft Foods Inc and discussed valuations with investors in comments that could set the stage for talks between the British confectioner and the world's No. 2 food company.

Ever since it launched the Pre, smartphone maker Palm Inc has been quite the belle of the ball, if deal chatter is any indication.

China offered some support on Wednesday to U.S. plans to build a more balanced global economy, as world leaders seek to agree ways to nurture a tentative recovery and prevent future crises.

Chinese President Hu Jintao urged U.S. President Barack Obama not to slap duties on more Chinese goods after a dispute over tires but stressed hopes for steady economic ties ahead of a Group of 20 leaders' summit.

Apple Inc and Eminem have failed to settle a lawsuit over whether the rapper's songs can be downloaded on the iTunes music service, paving the way for a federal trial to begin on Thursday.

ObamaVision -- the term coined by the media to sum up President Barack Obama's pledge to bring hope and change to America -- was on Wednesday deemed the most influential English word from television in 2009.

Stocks fell on Wednesday as investors worried the Federal Reserve is closer to pulling back on extraordinary measures to inject funding to shore up the economy.

Google Inc expects to buy one small company a month as it rekindles its acquisition engine and moves beyond the worst phase of the global recession, Chief Executive Eric Schmidt said in an interview on Wednesday.

G20 countries must sign up to a new agreement setting clear objectives on how they can contribute to more balanced global economic growth, Prime Minister Gordon Brown said on Wednesday.

Bank of America is underwriting a $239 million Lone Star subprime securitization backed by loans originated by troubled U.S. lender CIT Group, market sources said on Wednesday.

A slew of state and local home foreclosure mediation programs have enormous potential to help homeowners, but most suffer from lack of industry accountability, according to a study released on Wednesday.

The Financial Accounting Standards Board approved a rule change on Wednesday that is set to benefit some technology companies by allowing them to recognize more revenue when certain products are sold.