IBT Staff Reporter

Computer maker Sun Microsystems Inc is preparing to take on web retailer Amazon.com Inc in the fledgling market for cloud computing services that can be accessed via the Internet.

Investors at Starbucks Corp's annual meeting on Wednesday will be searching for answers on the coffee chain's cost-cutting measures and ideas to galvanize growth despite weakening global consumption.

Asian stocks drifted higher on Wednesday as banks extended gains, while Japanese government bonds rose after the Bank of Japan sharply increased the amount of government debt it would purchase to support the economy.

Asian stocks inched higher on Wednesday after a financial sector-driven rally pushed them to one-month highs this week, while U.S. Treasuries edged up on speculation the Federal Reserve may take the unorthodox step of buying government debt to push down interest rates.

The Obama administration turned up the heat on AIG on Tuesday over its employee bonuses, saying the embattled insurer will be forced to repay U.S. taxpayers before it gets another bailout of $30 billion.

Global financial turmoil has had a major impact on the reserve management policies of two thirds of central banks and almost all are rethinking diversification tactics, a survey showed on Wednesday.

Global financial turmoil has had a major impact on the reserve management policies of two thirds of central banks and almost all are rethinking diversification tactics, a survey showed on Wednesday.

An online privacy group called on Tuesday for government regulators to investigate the adequacy of Google Inc's security safeguards after the company inadvertently released consumers' private information this month.

Former Qwest Communications International Chief Executive Joseph Nacchio asked a Denver judge to rule by Wednesday on a petition to delay the start of his six-year prison term for insider trading.

Former U.S. Treasury Secretary Henry Paulson called for an overhaul of financial regulation in an article in the Financial Times on Tuesday, largely reiterating a plan he proposed in March 2008.

Taiwanese phone manufacturer HTC is planning to produce more android phones this year, the company said. The company discloses the launching of at least three smartphones based on Google's Android platform.

U.S. prosecutors raised the pressure on jailed swindler Bernard Madoff's family on Tuesday, signaling their intent to ask for $31.5 million from loans to his sons and $2.6 million worth of his wife's jewelry.

Media Company Discovery Communications has filed a lawsuit against Amazon, claiming the Kindle infringes on a patent Discovery has for DRM on electronic book technology.

Sony and Comcast are working together to open a unique co-branded retail experience in the Comcast Center: Sony Style Comcast Labs.

Canon introduced a set of user-friendly LCD projectors ideal for use in educational and business environments on Tuesday.

Apple Inc unveiled new software for the iPhone that will support some long-anticipated features, such as copy-and-paste of text and picture messaging, as the company pushes to stay competitive in the phone market.

Design software maker Adobe Systems Inc forecast a decline in quarterly profit in line with Wall Street projections as it blamed the weak economy for a projected revenue drop.

The first asset-backed securities offering under the Federal Reserve's TALF program met with robust demand on Tuesday, leaving hungry investors clamoring for more of Nissan's $1.3 billion deal.

U.S. prosecutors stepped up the pressure on Bernard Madoff's family on Tuesday, signaling their intent to ask for $31.5 million from loans to his sons and $2.6 million worth of his wife's jewelry.

Google Inc released a new version of its Chrome Web browser on Tuesday, as the search giant continues its efforts to get a foothold in a market dominated by Microsoft Corp.

The state of New Jersey on Tuesday sued Lehman Brothers executives and directors for fraud and misrepresentation, Gov. Jon Corzine said, seeking to recover the $118 million lost by state pension funds.

A healthcare agreement struck between Ford Motor Co and the United Auto Workers would not work for General Motors Corp , GM's chief executive said on Tuesday.

Stocks surged on Tuesday as an unexpected leap in housing starts pushed Home Depot and other retailers higher while bullish comments from a broker on Cisco Systems helped technology shares rebound.

Design software maker Adobe Systems Inc forecast a decline in quarterly profit that was in line with Wall Street projections, sending its shares up 2 percent.

U.S. housing starts and permits rebounded in February from record lows, rising for the first time in 10 months, according to data on Tuesday that gave a glimmer of hope for the recession-hit economy.

Stocks surged on Tuesday as an unexpected leap in housing starts pushed Home Depot and other retailers higher while bullish comments from a broker on Cisco Systems helped technology shares rebound.

Outraged U.S. lawmakers proposed a special surtax on Tuesday on millions of dollars in executive bonuses at bailed-out insurer American International Group Inc amid howls of protest over the payouts.

At a special media event on Tuesday, Apple previewed a string of new and impressive iPhone OS features, including Cut and Paste, MMS, voice memos and support for turn by turn directions.

Lions Gate Entertainment Corp has hired an advisory team including investment bank Morgan Stanley and the law firm Wachtell, Lipton, Rosen and Katz to launch a defense against financier Carl Icahn, according to two people with knowledge of the situation.