IBT Staff Reporter

UBS is shutting its asset-backed securities business in the United States, Swiss newspaper HandelsZeitung reported on Thursday without citing sources.

UBS is shutting its asset-backed securities business in the United States, Swiss newspaper HandelsZeitung reported on Thursday without citing sources.

The sexual harassment scandal surrounding Herman Cain has become a messy he said, she said affair, with accusers going public and Cain fiercely denying their allegations. What's next for the Georgia businessman who shot from obscurity to the top of the polls last month?

The head of the International Monetary Fund called on Thursday for political clarity in efforts to tackle the debt crisis that has gripped Italy, saying uncertainty around who would succeed Prime Minister Silvio Berlusconi was fuelling market volatility.

The head of the International Monetary Fund called on Thursday for political clarity in efforts to tackle the debt crisis that has gripped Italy, saying uncertainty around who would succeed Prime Minister Silvio Berlusconi was fuelling market volatility.

Stock index futures pointed to a rebound on Wall Street on Thursday, with futures for the S&P 500 up 1.1 percent, Dow Jones futures up 0.9 percent and Nasdaq 100 futures up 1 percent at 4:47 a.m. ET.

Political and economic crisis in Italy spurred fears of a split in the Eurozone with borrowing costs for Europe's third biggest economy at unsustainable levels and the bloc unable to afford a bailout.

World stocks hit a three-week low and the euro tumbled across the board while top-rated government bonds rallied on Thursday as fears of a break-up of the euro zone gathered pace ahead of a key debt sale in Italy.

The head of India operations at UBS AG , Manisha Girotra, has resigned, according to an internal memo, the latest high-profile exit from the Swiss bank in the world's second-fastest growing major country.

World stocks hit a three-week low and the euro tumbled across the board while top-rated government bonds rallied on Thursday as fears of a break-up of the euro zone gathered pace ahead of a key debt sale in Italy.

Tokyo's stock exchange warned scandal-hit Olympus Corp on Thursday it will be delisted after 62 years as a publicly traded company if it fails to report earnings by December 14, another blow to the Japanese camera-maker's chances of survival.

Olympus Corp's use of accounting tricks to hide big losses has raised questions about whether its auditors, the Japanese arms of global giants KPMG and Ernst & Young, should have done more to follow up on red flags.

Online coupon company WhaleShark Media has raised $150 million in financing from JP Morgan and Institutional Venture Partners.

A key gauge of Japan's corporate capital spending fell more than expected in September and manufacturers expect a further drop this quarter as business confidence sags in the face of the strong yen and slowing global growth.

A key gauge of Japan's corporate capital spending fell more than expected in September and manufacturers expect a further drop this quarter as business confidence sags in the face of the strong yen and slowing global growth.

Asian stocks fell around 3 percent on Thursday after soaring Italian borrowing costs stoked fears that the debt crisis in the euro zone's third biggest economy will overwhelm its financial defenses, raising the risk of a break-up of the currency area.

Asian stocks fell around 3 percent on Thursday after soaring Italian borrowing costs stoked fears that the debt crisis in the euro zone's third biggest economy will overwhelm its financial defenses, raising the risk of a break-up of the currency area.

Former MF Global customers like Koch Industries, who pulled billions of dollars out of the stricken broker's accounts weeks or months before its collapse, have counted their blessings in recent days.

Japan's scandal-hit Olympus Corp is likely to miss a Monday deadline for reporting its first-half earnings, sources with knowledge of the matter said, a failure that would bring the 92-year-old firm a step closer to delisting.

Walt Disney Co will seek to reassure Wall Street that global economic woes have not hurt its nearly $11 billion parks and resorts business or held back an advertising rebound at ESPN and its other cable networks.

Alabama's Jefferson County filed for bankruptcy court protection on Wednesday in the biggest municipal bankruptcy in U.S. history.

Green Mountain Coffee Roasters' weak quarterly revenue raised fears about the company's growth potential, as sales of its Keurig coffee makers did not rise as much as Wall Street had expected, sending its shares down 34 percent.

China's exports in October rose at their weakest pace in eight months, underlining official concern about the sector that has dragged on economic growth this year while imports jumped much more than expected.

Penn. State University football coach Joe Paterno may setp down after being caught up in the sex-abuse scandal involving his former assistant and one-time heir apparent - former defensive coach Jerry Sandusky.

Even as reality TV star Kim Kardashian is busy getting ready to divorce her estranged husband Kris Humphries, her step-brother Brody Jenner and his girl friend Avril Lavigne got injured in a bar brawl at the Hollywood Roosevelt Hotel over the weekend.

Alabama's Jefferson County filed for bankruptcy court protection on Wednesday in the biggest municipal bankruptcy in U.S. history.

Hollywood power couple Brad Pitt and Angelina Jolie held hands and posed on the red carpet Wednesday in Japan to promote Brad’s lates baseball movie, “Moneyball.”

Herman Cain got high praise from J. Edgar director Clint Eastwood, who told the Los Angeles Times Monday that the presidential hopeful has qualities that set him apart from everyone else who's vying to be commander-in-chief.

Korean electronics giant Samsung is gearing up to release another two devices to swell the ranks of its popular Galaxy line: the Galaxy SII 'Skyrocket' and the Galaxy Nexus.