IBT Staff Reporter

Following a Morgan Stanley plan unveiled last week, Citigroup and Bank of America are likely to soon raise base salaries for investment bankers to compensate for limits on annual bonuses, the Wall Street Journal said, citing people familiar with the matter.

Oil hovered little changed near a six-month high above $62 a barrel on Wednesday, as a jump in U.S. consumer confidence and signs of modest recovery in Japanese exports buoyed hopes that oil demand would rebound as the global economy recovers.

IBM has earmarked $3 billion to finance so-called smart infrastructure projects in Europe and Asia likely to receive government stimulus support.

Asian shares rose on Wednesday to their highest level in more than seven months after a jump in U.S. consumer confidence reinforced expectations the global economy has hit a bottom, even if recovery appears fragile.

Microsoft Corp plans to launch a new version of its Zune portable media player later this year in the United States, incorporating high-definition video, touch screen technology and Wi-Fi connection.

A Russian Internet investment firm has invested $200 million in Facebook, giving the social networking company a cash buffer during the recession and pegging its value at $10 billion.

Oil hovered little changed near a six-month high above $62 a barrel on Wednesday, as a jump in U.S. consumer confidence buoyed hopes that the global economy was on its way to recovery and demand for oil would rise.

Bookseller Borders Group Inc reported a smaller-than-expected loss that beat Wall Street estimates as cost cuts offset a protracted slump in book sales.

General Motors Corp has failed to persuade enough bondholders to accept a debt-for-equity swap, setting the stage for the largest-ever U.S. industrial bankruptcy within days.

Hewlett-Packard Co said on Tuesday a Massachusetts court has cleared a top executive who was lured away from rival EMC Corp to begin working for the company, although his role at least initially will be different.

Canada's deficit this year will reach its biggest ever this year of more than $50 billion because of the deep economic recession, Finance Minister Jim Flaherty said Tuesday.

US EQUITIES rallied back from the long opening weekend of summer. Initial pressures from escalating geo-political tensions

Two Texas men defrauded investors of some $19.5 million by faking bank records to show that their business, PrivateFX Global One, achieved annual returns of more than 23 percent in foreign exchange trading, U.S. regulators said on Tuesday.

Inspur International raised HK $44 mln for acquisitions Inspur International got its stock suspended on Tuesday in Hong Kong, raising up to 44.3 million HK dollars ($5.71 million) for future acquisitiso wons and general operations

HP announced on Tuesday David Donatelli is to begin working at the company after the Suffolk County Superior Court of Massachusettsreleased its prohibition on the matter.

Polo Ralph Lauren announced Tuesday the resignation of Judith McHale from the Polo Ralph Lauren Board of Directors following her recent appointment to the White House.

Video game publisher Take-Two Interactive Inc reported stronger-than-expected quarterly results but cut its fiscal year revenue forecast as it delays the release of two titles.

Jury Orders Microsoft to pay $200M in damages to i4i i4i, the Toronto-based software firm announced on Tuesday it received a $200 million patent infringement verdict from a federal jury who found Microsoft Corp., the world' largest software maker, willfully infringed on an i4i patent.

Stocks climbed more than 2 percent on Tuesday as data showing the biggest monthly jump in consumer confidence in six years lifted hopes of an economic rebound, and a brokerage upgrade of Apple Inc drove sharp gains on the Nasdaq.

Facebook Inc., said Tuesday, received an investment of $200 million from Russia’s Digital Sky Technologies that values the networking service at $10 billion.

French police said they had arrested 90 people across the country on Tuesday in an operation targeting a network trading pedophile pictures on the Internet.

The European Investment Bank (EIB) signed an agreement valued for €100 million with the Socialist Republic of Vietnam, aiming to mitigate climate change in this region.

North Korea defied international condemnation of its latest nuclear test by firing two short-range missiles off its east coast on Tuesday and major powers considered tougher action against the isolated communist state.

Stocks climbed more than 2 percent on Tuesday as data showing the biggest monthly jump in consumer confidence in six years lifted hopes of an economic rebound, and a brokerage upgrade of Apple Inc drove sharp gains on the Nasdaq.

The California Supreme Court in one of the most anticipated court decision upheld a voter-approved ban on same-sex marriage Tuesday.

Video game publisher Take-Two Interactive Inc reported stronger-than-expected quarterly results but cut its fiscal year revenue forecast as it delays the release of two titles.

North Korea must return to negotiations with its neighbors and the United States following its nuclear and missile tests, U.N. Secretary-General Ban Ki-moon said on Tuesday.

Intel Corp will start producing a new, more powerful version of its Xeon multiprocessor chip for servers in the second half, a spokesman said on Tuesday.

The greenback relinquished gains against the euro and Aussie on the Tuesday session as UK and US markets returned from holiday.