IBT Staff Reporter

The strategy by the Swiss bank UBS to slash risky assets by almost half and pay its first dividend since the financial crisis has the full backing of Axel Weber, its newly crowned CEO Sergio Ermotti said in a Swiss newspaper on Sunday.

Swiss bank UBS's strategy to slash risky assets by almost half and pay its first dividend since the financial crisis has the full backing of Axel Weber, its newly-crowned Chief Executive Sergio Ermotti said in a Swiss newspaper on Sunday.

Consumers, on average, are expected to spend around £300,000 a minute, which might push the sales to £424 million during the day.

Leaders Manchester City maintained the five point gap at the top with Man United after forcing on Newcastle their first league defeat of the season.

In Saturday's late kick-off in the Premiership, Manchester United secured a 1-0 win at Swansea to keep the gap with leaders Manchester City to five points.

A long-term global economic recession is certain to happen, and China must focus on domestic problems, Chinese Vice Premier Wang Qishan was quoted by the official Xinhua news agency as saying at the weekend.

A long-term global recession is certain to happen and China must focus on domestic problems, Chinese Vice Premier Wang Qishan has said.

Mestalla witnessed a thriller on Saturday, although much of the crowd went home unhappy, after Real Madrid defeated Valencia 3-2 in the Spanish Primera Division.

The Shenzhen-based joint venture of French car maker PSA Peugeot Citroen and China Changan Automobile Group said on Sunday it plans to sell premium cars in China, the world's biggest auto market, and in some overseas markets.

Former Procter & Gamble chief executive John G. Smale, credited with transforming the two major international companies he led during his career, died on Saturday at age 84.

Rahm Emanuel, former White House Chief of Staff, is stumping for his old boss in Iowa as the GOP candidates crisscross the state criticizing President Barack Obama.

Iraq believes Exxon Mobil has less interest in pursuing a disputed oil deal in the country's semi-autonomous Kurdistan region because it has much larger contract in southern Iraq, its oil minister said on Saturday.

Muammar Gaddafi's son Saif al-Islam has been captured in Libya's southern desert, scared and with only a handful of supporters, by fighters who vow to hold him in the mountain town of Zintan until there is a government to hand him over to.

A raft of bidders including J.P. Morgan is lining up for failed brokerage MF Global's stake in the London Metals Exchange, two sources familiar with the situation said, providing some solace for creditors.

Wikipedia received a $500,000 donation from Google co-founder Sergey Brin, right after the free online encyclopedia started their eighth annual fundraising drive.

LivingSocial, an online-deals provider, is looking to raise nearly $200 million from new and old investors, The New York Times reported Friday.

LivingSocial, the online deal provider, is looking to raise nearly $200 million from new and old investors, the New York Times reported on Friday.

On top of fundraising, the daily-deals company is discussing plans for a credit facility of $100 million.

The NBA won't be playing anytime soon, following a breakdown in talks over a new collective bargaining agreement. Still, those willing to financially support President Barack Obama could get to see their favorite NBA stars play some hoops next month.

Citigroup, BNP Paribas and UBS all announced job reductions in this week.

Greece's creditors failed on Saturday to persuade the leader of the main conservative party to drop his refusal to sign a pledge that he will back austerity measures under a bailout deal aimed at saving the country from financial ruin.

The Illinois congressional map, drawn in accordance with the new census data, has been challenged by the Republican party, who say it is bad for Latino voters.

The Tribune Co., owner of the Chicago Tribune and Los Angeles Times newspapers, has filed a third reorganization plan with the U.S. Bankruptcy Court in Delaware as the media company attempts to address concerns raised by the court last month.

Tribune Co , the owner of the Los Angeles Times and Chicago Tribune newspapers, has filed a third reorganization plan with the U.S. Bankruptcy Court in Delaware as the media company attempts to address concerns raised by the court last month.

Poking fun at the success of young-adult novels like Twilight and The Hunger Games that publishers keep unloading on America seems easy enough, but it figures the creative team behind The Simpsons would go the extra mile by hiring author Neil Gaiman to play himself in The Book Job, an episode that airs on Fox Sunday. In fact, Gaiman told the Pittsburgh Post-Gazette during a conference call Friday that he got more than he bargained for when he became involved with ...

McDonald's has stopped buying eggs from the company Sparboe Farms following a video that was released showing animal cruelty and a lack of attention to food safety rules.

A raft of bidders -- JPMorgan Chase & Co. among them -- is lining up for failed brokerage MF Global Holdings Ltd.'s stake in the London Metals Exchange, two sources familiar with the situation said, providing some solace for creditors.

TMZ on Thursday published a text, which was allegedly sent by the young mother on this Wednesday to one of her friends, showed she knows another man named Robbie who may have fathered her son. The San Diego 20-something mother Mariah Yeater withdrew a lawsuit earlier this week, which claims the pop sensation Justin Bieber had fathered her child Tristyn. Even as Bieber is scheduled to take paternity test on Friday to clear the air, there are very strong clues to prove Yeater lied.

When California's Proposition 8 has its day in court, any judge who respects the U.S. Constitution will strike it down as a violation of the 14th Amendment, because civil rights cannot be subject to popular vote.