Reuters - EMI and Warner Music were locked in a two-way $4.6 billion takeover battle on Wednesday, with each trying to acquire the other to create a combined company that would shrink the industry to three main players.

Reuters - Stocks advanced on Wednesday, led by gains in the energy sector on rising oil prices. But gains were tempered as investors hesitated to place major bets a day before the Federal Reserve's statement on the future direction of interest rates.

Reuters - Shares of Apple Computer Inc. on Wednesday fell to an eight-month low after a Wall Street analyst said updated versions of the popular iPod digital music player may be delayed.

Reuters - Supervalu Inc. said on Wednesday it has earmarked $1 billion of capital spending for its retail operations in fiscal 2007 as it integrates the stores it acquired from Albertsons Inc.