IBT Staff Reporter

Acer Inc, the world's third-largest PC brand, plans to introduce a phone model running on Google's Android software this year, the head of its phone unit said on Wednesday.

The pursuit of German carmaker Opel appears to have narrowed to a three-way race between Italy's Fiat , Canadian-Austrian car parts group Magna and investment firm RHJ International.

Oil rose 2 percent on Wednesday to touch a six-month high over $62 a barrel as government data showed a steep drop in U.S. crude and gasoline inventories ahead of the summer driving season.

Five-dimensional discs with a capacity 10,000 times greater than current DVDs could be on the market within 10 years, researchers reported on Wednesday.

Aung San Suu Kyi sat confidently in the prison courtroom, listening over the din of a clacking typewriter and noisy ceiling fans.

AT&T Inc is considering offering cheaper data service plans with limited Web surfing for advanced cellphones including Apple Inc's iPhone.

The Dow industrials briefly turned negative on Wednesday as bank stocks extended losses, while the S&P 500 and Nasdaq trimmed gains.

U.S. stocks pared gains on Wednesday as a pullback in financial shares offset positive broker comments on bellwethers McDonald's and Procter & Gamble.

Bank of America Corp Chief Executive Kenneth Lewis, whose bank sold $13.47 billion of common stock this month, on Wednesday said the worst of the economic downturn has likely passed and that conditions will not worsen as much as feared.

Google announced its first partnership with eight utility companies in the United States, India and Canada, to introduce its Power Meter to monitor household electricity usage.

U.S. Treasury Secretary Timothy Geithner said on Wednesday the Obama administration was making headway in calming financial markets and would have a program to cleanse toxic assets from banks' balance sheets up and running by July.

As the economy gets ugly, droves of out-of-work Australians, male and female, are finding a career in beauty really pays.

Treasury Secretary Timothy Geithner said on Wednesday the Obama administration was making headway in settling financial markets and said a program to cleanse so-called toxic assets from banks' balance sheets will start operating over the next six weeks.

President Barack Obama's tough fuel economy program for vehicles could put another damper on the struggling ethanol business, because the alternative fuel packs a lower energy content than gasoline.

Oil prices briefly pushed above $62 a barrel on Wednesday to touch a new six-month high on bullish inventory data and a spate of refinery accidents in the United States, in spite of weak market fundamentals.

The tough U.S. fuel economy standards announced by President Barack Obama on Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks.

Target Corp reported a better-than-expected quarterly profit on Wednesday, as the No 2 U.S. discount retailer offset sluggish sales by keeping a tight control on inventory and expenses, while its credit card business was profitable.

Target Corp reported a better-than-expected profit on Wednesday as the No. 2 U.S. discount retailer offset sluggish sales by keeping a tight control on inventory and expenses, while its credit card business was profitable.

Microsoft is set to unveils its long-awaited next-generation search technology, code-named Kumo, next week at the D: All Things Digital technology conference in California, according to reports.

Italy's Fiat , car parts group Magna and investment firm RHJ were all expected to submit offers for Opel, the German unit of U.S. carmaker General Motors , by a Wednesday deadline.

Novartis AG is buying the injectable generic cancer drugs business of Austria's EBEWE Pharma and may pursue other similar deals as it fleshes out a planned diversification away from brand-name treatments.

Verizon Communications Inc Chief Financial Officer John Killian said he is happy with growth trends so far in the second quarter and he expects 2009 to be a good year for revenue and cash flow growth.

Verizon Communications Inc Chief Financial Officer John Killian said he is happy with growth trends so far in the second quarter and he expects 2009 to be a good year for revenue and cash flow growth.

Washington Mutual Inc has asked a bankruptcy court to rule on its dispute with JPMorgan Chase & Co over more than $4 billion in deposits, according to court documents on Wednesday.

BEIJING, May 19 (Reuters) - China agreed to lend $10 billion to Brazil's Petrobras (PETR4.SA)(PBR.N) in return for guaranteed oil supply over the next decade, in a deal cemented on Tuesday as Brazilian President Luiz Inacio Lula da Silva ended a state visit.Lula and Chinese President Hu Jintao signed 13 agreements in all, covering science, space, law, ports and farm products, the official Xinhua news agency said. It did not provide details.The loan will come from China Development ...

Pfizer Inc has struck licensing agreements with two Indian-based companies, as the world's largest drugmaker seeks new avenues of growth in generics and emerging markets.

Staring at the locked gates of a Fiat car factory, Mimmo Vacchiano says many families in this poor corner of southern Italy face a stark choice unless its turnstiles reopen.

Verizon Communications Inc Chief Financial Officer John Killian said he is happy with growth trends so far in the second quarter and he expects 2009 to be a good year for revenue and cashflow growth.

The United States must allay Russian concerns over its planned anti-missile system in Europe if the two sides are to achieve a breakthrough on cutting nuclear weapons, Russia's foreign minister said on Wednesday.