IBT Staff Reporter

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High-frequency oil trader fined for runaway trades

CME Group Inc fined a trader $50,000 for running a rapid-fire trading strategy that malfunctioned last year, sending thousands of erroneous orders to the New York Mercantile Exchange and sparking a $1 surge in oil prices.

RIM now faces legal challenge on BBM trademark

Research In Motion, still smarting over having to change the name of its yet-to-come operating system, faces a similar trademark challenge to its popular instant-messaging service BlackBerry Messenger.

2011 Year in Review: Top 5 Topics in U.S. Politics

The year began with a shooting in Tucson, Ariz., that left six people dead and 14, including U.S. Rep. Gabrielle Giffords, injured, and it ended with the last troops coming home from Iraq. It began with Congress deadlocked over spending and taxes and ended with Congress, well, deadlocked over spending and taxes.

Indian courts challenge Facebook, Google content: report

U.S. companies Facebook, Google and Yahoo, and other internet firms, have been ordered by two Indian courts to remove material considered religiously offensive, the latest skirmish in a growing battle over website content in the world's largest democracy.

Data lifts Wall St again, S&P up on year

The S&P 500 turned positive for the year on Friday as equities rallied again on a run of better-than-expected economic data, though volume continued to be seasonally weak.

Michael Buble brings Christmas to CityVille

Singer Michael Buble is taking his Christmas spirit into the virtual realm, collaborating with popular Facebook game CityVille and giving an interactive gift to his fans over the holidays.

Amazon may benefit as digital goods sales jump

Digital goods are the fastest-growing category online this holiday, led by e-books, suggesting Amazon.com Inc's strategy of blanketing the world with cheap e-readers and tablet computers may be producing some early gains.

Wall Street edges higher on mixed data

Stocks edged higher on Friday, with the S&P 500 on track for a fourth straight day of gains as a batch of economic data pointed to an economy that continued to grow at a modest pace.

Banks downgrade threat remains despite ECB funds: S&P

The half a trillion euros the European Central Bank pumped into the financial system buys hard-hit banks valuable time but will not in itself protect them from threatened rating downgrades, one of Standard and Poor's top executives said.

Futures point to higher open after mixed data

Stocks were set to climb at the open on Friday, with the S&P 500 on track for a fourth straight day of gains as modest durable goods and consumer spending data was not enough to dampen optimism the U.S. recovery remained on track.

S&P: Banks downgrade threat remains despite ECB funds

The half a trillion euros the European Central Bank pumped into the financial system buys hard-hit banks valuable time but will not in itself protect them from threatened rating downgrades, one of Standard and Poor's top executives said.

Xinhua website planning $158 million IPO: sources

China's state news agency Xinhua plans to list its online portal in a 1 billion yuan ($157.8 million) stock market offering in Shanghai with China International Capital Corp underwriting the deal, two sources with knowledge of the matter said on Friday.

Exclusive: China's CIC to get $50 billion boost

China's $410 billion sovereign wealth fund China Investment Corp. is set to receive additional funding of up to $50 billion, two sources said, a step that could help it move quickly to buy overseas assets, especially in Europe.

China's CIC to get $50 billion boost: sources

China's $410 billion sovereign wealth fund China Investment Corp. is set to receive additional funding of up to $50 billion, two sources said, a step that could help it move quickly to buy overseas assets, especially in Europe.

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