IBT Staff Reporter

Merck & Co. reported a Phase III trial which studies odanacatib for the treatment of osteoporosis in postmenopausal woman is underway which will include tests for breast and prostate cancer.

Digital video recorder company Tivo reported better than expected earnings for its first quarter on Wednesday on its mass distribution strategy and management of subscription acquisition costs.

The Medicines Company said on a press release on Wednesday that it received a not approvable letter from U.S. regulators on a supplemental New Drug Application for an additional dosing regimen for Angiomax in the treatment of acute coronary syndromes.

Amazon.com Inc, the largest Internet retailer, will expand its digital music and video with a streaming video service in the next few weeks, Chief Executive Jeff Bezos said Wednesday.

United Airlines' merger talks with US Airways have faltered and a deal is not expected anytime soon, say people close to the carriers, pushing the Chicago-based carrier to turn its focus to other strategic alternatives.

Crude oil prices rallied on Wednesday, recovering earlier losses and reacting to a new forecast by Morgan Stanley projecting Brent Crude prices will hit as much as $150 a barrel.

Microsoft will include touch screen controls for the next generation of the Windows operating system.

Gold futures fell for the second day on Wednesday in New York as the dollar strengthened, lowering the appeal of the precious metal as an alternative investment.

Exxon Mobil chairman and CEO Rex Tillerson will hold to both of his titles after shareholders rejected a plan backed by some members of the Rockefeller family to split the chairman and chief executive roles.

U.S. stocks fell on Wednesday as concerns increased that regional banks face more write downs after more bad news in the financial sector did little to ease concerns over the state of the slowing economy, while oil futures headed back toward $130 a barrel.

Dow Chemical Co., the top chemical maker in the United States, reported on Wednesday it will raise the price of all its products by 20 percent citing high energy, raw materials and transportation costs.

American International Group, Inc may need between $5 and $10 billion to bolster its balance sheet beyond the $20.3 billion it has already collected, according to a Citigroup analyst.

American Airlines said Wednesday it would end flights between New York's John F. Kennedy International Airport and London's Stansted Airport as part of in a bid to cut capacity costs as fuel prices continue to soar.

Ford Motor Co. plans to downsize its U.S. salaried work force by up to 12 percent in a bid to advance its restructuring plan after stalling amid lower sales and soaring gas prices, according to media reports.

Borders book chain said late Tuesday its same-store sales fell and its losses persisted in the first quarter.

American Airlines parent AMR Corp. said Tuesday it will start with discontinuing some long-haul service, including Chicago flights to Honolulu and Buenos Aires in response to skyrocketing fuel prices and softening economy.

Jamba Inc., the owner of the Jamba Juice smoothie-store chain, on late Tuesday reported a first-quarter net loss as operating expenses rose.

Avanir Pharmaceuticals shares climbed as the company reported today positive results of its large pharmacokinetic study to identify an alternative dosing formulation of Zenvia, designed to deliver similar efficacy as observed in the first Phase III clinical study in diabetic peripheral neuropathic pain.

Sears Holdings Corp. signed an agreement with hip-hop artist LL Cool J to introduce an exclusive line of streetwear for children and teens this fall.

Biopharmaceutical group Favrille Inc. shares slumped near 90 percent on Tuesday after the company said it will stop the development of its lead cancer drug, Specifid, as it failed to meet a strategic goal in a late stage trial.

Struggling homebuilder Standard Pacific Corp. received a vote of confidence in the form of a $530 million investment from private equity group MatlinPatterson Global Advisers LLC on Tuesday, sending its shares up nearly 50 percent.

A New York judge said on Tuesday that Dell Inc. falsely advertised its promotional credit financing and warranty terms to customers.

Google claims that Viacom's $1 billion copyright infringement suit against the You Tube video service threatens legitimate communication across the Internet.

Gold futures closed down almost $18 an ounce on Tuesday, dropping the most in four weeks as energy costs fell and lowered the demand for the contract as a hedge against inflation.

Bank of America Corp will exercise a $1.86 billion option to buy additional shares of China Construction Bank Corp.

After seven years of being in an alliance with Amazon.com, Borders Group Inc. is finally setting out on its own with the launch of Borders.com.

U.S. stocks recovered earlier gains as lower crude oil prices dragged energy companies shares down, while lifting airlines and bleak data showed a mixed picture of the housing sector.

Vodafone Group's chief executive Arun Sarin, saying he has achieved what he set out to do when he took the position five years ago, is retiring to be replaced by deputy chief executive Vittorio Colao.

The FTSE 100 share index fell 94.3 points on Friday to 6,087.3 (down 1.5 per cent).