IBT Staff Reporter

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Spain set to fire opening salvos in austerity drive

Spain's centre-right government will announce billions of euros in savings measures on Friday, using its first decrees since sweeping to power at November elections to give the nation a foretaste of tougher austerity to come.

China's factories falter, pro-growth policies eyed

China's factory activity shrank again December as demand at home and abroad slackened, a purchasing managers' survey showed on Friday, reinforcing the case for pro-growth policies to underpin the world's second-largest economy.

Asia stocks end 2011 sharply lower

Asian stocks were poised to end their first losing year in three on Friday, having shed nearly a fifth of their value as Europe's debt crisis and financial turmoil took a toll on investors' risk appetite, driving them to safer assets such as the U.S. dollar and gold.

Asian stocks edge up but poised for 2011 loss

Asian stocks nudged higher and the euro clung to overnight gains on Friday, the last trading day of 2011, as positive data from the United States helped allay concerns on the global economy, while year-end short covering lifted crude prices.

GE Healthcare to pay $30 million to settle False Claims Act

General Electric Co's healthcare equipment unit paid more than $30 million to settle allegations that a company it bought in 2004 provided false information to overcharge Medicare for a drug used to diagnose heart disease, the Justice Department said.

TCW, Doubleline Capital reach settlement

The Trust Company of the West Group Inc and star bond investor Jeffrey Gundlach's DoubleLine Capital on Thursday said they had settled all claims between them, ending a long-running legal saga.

Private companies ratchet up lobbying to stay dark

Two traditional retailers and a manufacturer have joined the ranks of hot tech companies like Facebook in the debate over a U.S. securities rule that can force privately held companies to disclose finances they'd rather keep secret.

Battle for NFL playoff spots goes down to the wire

The final week of the National Football League (NFL) regular season takes place on New Year's Day with seven teams battling for the last three available spots in the playoffs and another four hoping to earn a week off on the road to the Super Bowl.

New details emerge on flap between HP, Hurd

Former Hewlett Packard CEO Mark Hurd made romantic advances over several years toward an independent contractor who later accused him of sexual harassment, according to a letter from her lawyer obtained by Reuters.

Is that rental car safe to drive?

When you rent a car, there's a chance the vehicle has been recalled and, if it has been, that it hasn't yet been repaired. That's at the heart of a battle over whether the rental car industry should be required to fix cars before sending them out with customers.

'Dark Knight Rises' Plot Spoiler Reveals ...

Catwoman is in league with Bane.That's according to a Los Angeles Times article centered around an interview with Anne Hathaway, who plays Catwoman/Selina Kyle in the new Batman movie.

Can crowdsourcing shake up education?

Former teacher Alex Grodd is betting on social media to solve a big problem in education: how to tap other teachers' hands-on experience for what works in the classroom.

Jessica Chastain takes Palm Springs fest honors

The Palm Springs International Film Festival has now stocked its annual Awards Gala with 14 honorees, adding actress Jessica Chastain and composer Howard Shore to its previously announced lineup.

U.S. court upholds telecom immunity for surveillance

A U.S. appeals panel on Thursday upheld the constitutionality of a federal law that grants immunity to telecommunications companies that assist the U.S. government in conducting surveillance of American citizens.

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