IBT Staff Reporter

Wal-Mart has finalized preparations for opening its own bank in Mexico, according to latest reports, with branches in the region to be called Banco Walmart de Mexico Adelante.

Wal-Mart Stores Inc must pay an additional $62.3 million in damages to Pennsylvania workers who were forced to work "off the clock" or during rest breaks, a judge ruled on Wednesday.

Lawmakers called on Wednesday for a 'mortgage czar' to help cope with an expected wave of foreclosures from the U.S. housing slump but Alan Greenspan said the credit crunch was past the worst. Fallout from a global credit squeeze, sparked by problems in the U.S. subprime mortgage market, have rattled markets in recent weeks, threatening economic growth and bank earnings.

President George W. Bush on Wednesday held up North Korea as a possible model for resolving the Iranian nuclear standoff and reaffirmed a U.S. offer of talks if Tehran suspends uranium enrichment.

President George W. Bush on Wednesday vetoed a measure to expand a popular children's health care program, launching the first in a series of major battles with Democrats over domestic spending. An extra $35 billion over five years would have been added to a health program for low-income children.

Bear Stearns Cos said on Wednesday it was cutting 310 jobs in its mortgage lending business, making the Wall Street bank the latest to lay off staff as a result of the lingering subprime mortgage crisis.

ConocoPhillips Chief Executive James Mulva said on Wednesday he was encouraged by the ongoing talks with Venezuela on reaching a compensation deal over the seizure of the oil company's assets there.

Nokia the world's top cell phone maker, said it will co-brand a set of Renault Twingo cars which will go on sale later this month, packed with Nokia's navigation system and handsfree equipment.

Akihabara, Tokyo’s electronics district, will install information screens at various spots in an attempt to attract visitors in upcoming weeks.

A federal judge in California certified a class action lawsuit against Target Corp (TGT.N) brought by plaintiffs claiming the discount retailer's website is inaccessible to the blind, according to court documents.

Tokyo-Citigroup Inc. announced on Tuesday that it will acquire shares of Nikko Cordial Corp. by triangular merger through Citigroup Japan subsidiary.

Pakistan's former prime minister Benazir Bhutto said on Wednesday power-sharing talks with President Pervez Musharraf had stalled and she expected her party's members of parliament to resign.

Five workers died on Tuesday after they were trapped deep underground at a hydroelectric plant near Georgetown, Colorado, amid a chemical fire, power company Xcel Energy Inc said.

Shares in EchoStar Communications Corp jumped more than 11 percent before retreating on Wednesday as investors speculated further on the possibility the satellite operator might sell its DISH pay-TV network.

Insurer Old Mutual Plc plans to buy back 350 million pounds ($714 million) of its shares, roughly 4 percent of its capital, as part of a programme to improve capital efficiency, it said on Wednesday.

The Indian government has received about 300 applications from about 30 companies vying to tap growth potential in the world's hottest wireless market, the telecoms minister said on Wednesday.

Taiwan's Synnex Technology, the world's No.3 electronics distributor, forecasts its annual sales will grow by a fifth in 2007 and 2008, a touch below market estimates, as it aims to sell more products in China's fast-growth market.

Ranbaxy Laboratories Ltd, India's top drugmaker by sales, will raise its stake in Zenotech Laboratories Ltd to 45 percent to expand into the global biogenerics market, it said on Wednesday.

Shares in Nintendo Co Ltd hit a record high on Wednesday after Goldman Sachs initiated coverage of the maker of the Wii game console with a buy rating, while speculation the firm could raise its earnings forecast again gave it an extra boost.

The dollar rose to a one-month high against the yen on Wednesday after economic reports reflected growth in U.S. employment in September, boding well for Friday's non-farm payrolls data.

United Auto Workers members at several locals have backed a ground-breaking tentative contract with General Motors Corp that may serve as a pattern for talks with Ford Motor Co and Chrysler LLC.

Interstate Bakeries Corp, the bankrupt maker of Wonder Bread and Twinkies snacks, said on Wednesday its lenders reduced the amount the company can borrow as it struggles to stay in business.

Yahoo Inc has been given U.S. antitrust approval to buy BlueLithium, the Federal Trade Commission said on Wednesday.

Computers and photographs related to Steven Spielberg's next Indiana Jones film have been stolen.

Belgian-Dutch financial services group Fortis won conditional clearance on Wednesday from the European Commission for its proposed acquisition of parts of Dutch peer ABN AMRO.

Stocks declined slightly on Wednesday as a broker's weak outlook on some chip makers weighed on the sector, while data showing continued growth in the services sector helped limit losses.

The Food and Drug Administration said on Wednesday it was exploring whether to let certain drugs be available to consumers without a prescription but only after consulting with a pharmacist.

Google Inc is moving to attract big business users to its Google Apps service just a year after entering the software market, as the company said on Tuesday it is offering stepped up e-mail management services at no additional cost to paying users.

North Korea has agreed to disable its Yongbyon nuclear reactor and provide a complete declaration of all nuclear programs by the end of the year, in a deal that won praise from U.S. President George W. Bush.