IBT Staff Reporter

Health insurer WellPoint Inc posted slightly lower first-quarter profit on Wednesday, hurt by large investment losses, but results far surpassed Wall Street forecasts.

The South Korean parliament's foreign affairs committee approved on Wednesday a free trade deal with the United States signed two years ago, paving the way for the entire assembly to vote on the pact this month.

U.S. credit card companies are expected to use a White House meeting to put their best foot forward, despite an avalanche of negative publicity, aiming to blunt a congressional push for tougher regulations.

Israel demolished a Palestinian house in Arab East Jerusalem on Wednesday, a day after U.S. President Barack Obama called on Israeli and Palestinian leaders to take measures to promote peacemaking.

AT&T Inc posted a smaller-than-expected drop in quarterly profit due to strong growth in its nascent video and high-speed Internet service, sending shares up 2 percent.

Thousands more civilians surged out of Sri Lanka's war zone on Wednesday, while soldiers and Tamil Tiger rebels fought the apparent endgame of Asia's longest-running war despite calls to protect those still trapped.

Iran's president accused Israel on Wednesday of brutal acts and ethnic cleansing against the Palestinians, two days after his denunciation of the Jewish state as racist prompted a walk-out from a U.N. meeting on race.

South Africans vote in national and provincial elections on Wednesday with the ruling ANC expected to win, but with a reduced majority.

Morgan Stanley posted its second straight quarterly loss on Wednesday and slashed its dividend as real estate investment losses and a charge from the improving value of it own debt wiped out gains in its trading businesses.

South Africans voted on Wednesday in an election that poses the toughest challenge to the African National Congress since the end of apartheid and could weaken its overwhelming dominance in parliament.

A Congressional panel is expected to approve legislation on Wednesday that would curb high credit card fees and penalties assessed by many banks that have benefited from the federal government's financial bailout program.

Morgan Stanley posted its second straight quarterly loss on Wednesday and slashed its dividend as real estate investment losses and a charge from the improving value of it own debt wiped out gains in its trading businesses.

Morgan Stanley reported on Wednesday first-quarter net revenue of $3.0 billion and a net loss of $0.57 per diluted share. The bank's shares fell 4.1 percent before market open.

AT&T Inc posted a decline in quarterly profit on Wednesday but beat Wall Street estimates as growth in wireless and video services helped offset declines in its traditional telephone business.

Stock index futures pointed to a lower open on Wednesday as cautious investors awaited another round of earnings results and comments from Treasury Secretary Timothy Geithner.

Cancer drug Avastin -- a key Genentech asset now wholly owned by Roche Holding AG -- has failed in a major study to prevent the recurrence of colon cancer in patients who have undergone surgery.

U.S. banks will be briefed by regulators as early as Friday on how they performed in government stress tests, before the results are made public later, The Wall Street Journal reported, citing government officials.

Continental Airlines posted its fifth straight quarterly loss on Wednesday on weaker travel demand, particularly among business travelers, echoing a trend seen among most major airlines this earnings season.

Nestle , the world's biggest food group, missed forecasts with a dip in first-quarter sales due to the strong Swiss franc and a late Easter, but it reassured investors by repeating its full-year target.

World stocks steadied on Wednesday as a mixed set of key corporate earnings injected caution among investors about the state of the economy, encouraging them to buy the low-yielding dollar and yen.

Dow Jones futures were down 0.5 percent at 0920 GMT, S&P 500 futures off 0.7 percent and Nasdaq futures off 0.5 percent, suggesting a softer start for U.S. stocks on Wednesday.

LVMH , the world's largest luxury goods group, on Wednesday denied it was in talks to sell its wine and spirits unit Moet Hennessy.

Stocks in Japan and South Korea rose on Wednesday but most Asian markets slipped as caution spread, pushing up the U.S. dollar and yen, before official results of U.S. bank stress tests are released on May 4.

Nestle, the world's biggest food group, reported first-quarter sales down 2.1 percent as a strong Swiss franc and a late Easter weighed, but said strong brands should help it meet its full-year target.

LOS ANGELES - One of online video's first breakout on-air personalities is popping up again on the mobile platform.

LOS ANGELES - One of online video's first breakout on-air personalities is popping up again on the mobile platform.

Nestle, the world's biggest food group, reported a slowdown in core sales growth in the first quarter as a strong Swiss franc weighed, but reiterated its full year target despite the global slowdown.

Indian mobile operators added a record 15.64 million customers in March, helped by the expansion of networks to smaller towns and rural areas, data from the telecoms regulator showed.

Online travel agency Orbitz Worldwide said on Tuesday it would start including all taxes and fees in its initial price display for hotels on Orbitz.com instead of just the base rate.