IBT Staff Reporter

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Exclusive: Van Rompuy urges fast-track euro zone moves

Tighter oversight of euro zone fiscal policy can be achieved through minor, rapid adjustments to the EU treaty, European Council President Herman Van Rompuy told EU leaders in an interim report to be discussed at a summit on December 8-9.

German patent firm asks retailers to halt HTC sales

Patent firm IPCom said on Tuesday it had asked top German cellphone retailers to stop selling phones of HTC, threatening them with legal action, as HTC has not complied with a court ruling on injunction of its sales.

October building permits unexpectedly jump

The value of Canadian building permits unexpectedly soared by 11.9 percent in October from September, as strength in the populous province of Ontario helped end three consecutive monthly falls, Statscan data indicated on Tuesday.

Bank of Canada holds rates, cites deeper euro crisis

The Bank of Canada kept its overnight interest rate at 1 percent on Tuesday, as expected, and gave no suggestion of an impending rate cut even though its view of the European debt crisis has clearly darkened.

Gilt Chairman Susan Lyne shares upside to failure

Susan Lyne, chairman of Gilt Groupe, Inc. and former president of ABC Entertainment, talked about learning from failure and adjusting to digital realities during TheWrap's third-annual Power Women breakfast Monday morning at the Hotel Bel-Air.

Panel urges legal action in damning Olympus report

An independent panel issued a damning report on a $1.7 billion accounting scandal at Japan's disgraced Olympus Corp on Tuesday, urging legal action against rotten executives responsible for the cover-up and the replacement of other board members.

Dan Quayle, Former Vice President, Endorses Mitt Romney

Former Vice President Dan Quayle has endorsed Mitt Romney for the Republican presidential nomination, calling him the only candidate who meets all the criteria for the job: leadership, character, conservative philosophy and electability.

S&P downgrade threat a clarion call for euro reform

A threat by Standard & Poors to slash credit ratings across the euro zone sounded a clarion call on Tuesday, which could help Nicolas Sarkozy and Angela Merkel force through a change to the European Union treaty at a summit this week.

Toll Brothers results beat Street, margins rise

Luxury homebuilder Toll Brothers Inc reported higher-than-expected quarterly profit from greater margins, but its chief financial officer said real improvement will not occur until U.S. home buying rebounds.

Wall Street flat on caution over euro zone reform

Stocks were little changed in choppy trading on Tuesday, with cautious investors hoping S&P's downgrade warning for the euro zone would help force budget changes at a European Union summit this week.

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