IBT Staff Reporter

A blockbuster sci-fi movie which caricatures Nigerians as gangsters and cannibals and a Sony PlayStation advert which implies they are fraudsters have infuriated a government battling to improve the country's image.

President Barack Obama delivered his first speech on Wednesday to the United Nations General Assembly.

Rumors may becoming true that Microsoft is planning to launch its own tablet PC with new photos appearing on Gizmodo that show Microsoft's new tablet along with a pr demo of the device.

As of September 18, Baker Hughes Incorporated reports 293 rigs drilling for oil and 705 rigs drilling for natural gas.

U.S. stocks rose on Wednesday as the Federal Reserve said economic activity has picked up following a severe downturn, an assessment that suggested the outlook for corporate profits was brightening.

Warner Chilcott Plc, a maker of contraceptives, said privately held Leo Pharma would re-acquire the U.S. rights to its topical psoriasis treatments for about $1 billion in cash, sending its shares up 4 percent.

General Mills Inc posted a higher-than-expected quarterly profit and raised its full-year earnings forecast, helped by strong sales of products like its breakfast cereals in the United States, sending its shares up 4.3 percent.

The Federal Reserve Bank's money policy committee on Wednesday finished a two-day meeting by issuing a statement noting that economic activity has “picked up” from the severe downturn and announcing that it has kept the central bank's key interest rate steady as expected.

Oil dropped 4 percent to below $69 a barrel on Wednesday after U.S. government data showed a big jump in crude and products stockpiles, stirring concerns about demand in the world's top energy consumer.

Ford Motor Co's Canadian subsidiary faces a $1.8 billion shortfall in its pension plan, the Globe and Mail said, citing a company letter to employees and retirees.

German car maker Volkswagen (VOWG.DE) has revised guidance on its bond issue backed by auto leases, an official at one of the banks managing the sale said on Wednesday.

Goldman Sachs' (GS.N) $334 million investment in Geely Automobile Holdings (0175.HK) will boost the Chinese automaker's global ambitions, including a potential bid by its parent for Ford's (F.N) Volvo brand.

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.

AutoZone Inc (AZO.N), the largest U.S. auto-parts retail chain, posted quarterly results on Wednesday roughly in-line with analysts' expectations as same-store sales growth slowed from the prior quarter.

The U.S. credit card charge-off rate rose to a record high in August, as more Americans lost their jobs, Moody's Investors Service said on Wednesday, in another sign consumers remain under stress.

The Obama administration's plan to merge bank regulatory agencies will not solve future problems or promote efficiency in financial markets, the regulator of U.S. thrifts said on Wednesday.

Ford Motor Co (F.N) will start production of a small car in India early next year, and its chief executive said the U.S. market had was showing signs of recovery and he expected industry sales to rise in the next two years.

Two mortgage real estate investment trusts halved their planned initial public offerings on Wednesday, casting a shadow on upcoming IPOs in the sector.

Oil dropped more than 3.5 percent to near $69 a barrel on Wednesday after U.S. government data showed a surprise jump in crude and products stockpiles, which stirred concerns about demand in the world's top energy consumer.

Authors and publishers asked a U.S. judge on Tuesday to delay a hearing on whether to approve a controversial settlement that would allow Google Inc to create a massive online digital library.

U.S. Treasury Secretary Timothy Geithner argued forcefully on Wednesday for creating a government watchdog for financial consumers, while giving cautious support to paring back its scope.

U.S. Treasury Secretary Timothy Geithner argued forcefully on Wednesday for creating a government watchdog for financial consumers, while giving cautious support to paring back its scope.

Best Buy plans to sell an iRex Technologies e-reader that links to the Barnes & Noble digital bookstore, the electronics retailer and e-reader maker said on Wednesday.

U.S. gross debt issuance will reach $7 trillion when the current fiscal year ends this month, Treasury Acting Assistant Secretary for Financial Markets Karthik Ramanathan, said on Wednesday.

U.S. stocks edged lower on Wednesday, pressured by falling crude-oil prices, as investors awaited a policy statement from the Federal Reserve.

JPMorgan Chase & Co said on Wednesday that it was eliminating some overdraft fees altogether and trimming others, after Bank of America Corp announced a similar move on Tuesday.

Chynna Phillips, the half sister of actress Mackenzie Phillips, says she is telling the truth about an incestual relationship with their father, John Phillips.

A summit of world leaders has dimmed hopes for a strong new U.N. climate pact to replace the Kyoto Protocol in Copenhagen in December, with details looking ever more likely to be left for 2010.

XTO Energy Inc on Wednesday said it has increased price hedges for its production in 2010, and the company expects natural gas prices to recover next year.