IBT Staff Reporter

AMSTERDAM, Oct 17 - Philips Electronics said it will cut 4,500 jobs as it reported an 85 percent slump in third-quarter net profit on higher restructuring and raw material costs.

Oct 17, 2011

Dan Wheldon, who was killed in a fiery crash in Las Vegas Sunday, was one of Britain's most successful race car drivers and one of the rare few foreign drivers who made it big in the United States.

Oct 17, 2011

British IndyCar driver Dan Wheldon has died after a horrific 15-car crash at the Las Vegas Motor Speedway on Sunday which left the motor sports world in shock.

Oct 17, 2011

Silicon Valley luminaries, politicians and celebrities were among the several hundred people at a private memorial service for late Apple Inc co-founder and tech visionary Steve Jobs on Sunday.

Oct 17, 2011

President Barack Obama gave a partisan-tinged speech to dedicate a new memorial to Martin Luther King Jr., likening the battle for racial equality to his political struggles in a divided Washington.

Oct 17, 2011

The United Auto Workers' tentative contract with Ford Motor Co looked assured of ratification on Sunday night after receiving overwhelming support at two major union locals, UAW officials said.

Oct 17, 2011

Two executives of Wal-Mart Stores Inc's China operation, including its head, have resigned, the company said in a statement on Monday.

Oct 17, 2011

Global miner Rio Tinto signaled a major retreat from its aluminum business on Monday, putting an estimated $8 billion worth of assets up for sale across six countries, only four years after buying aluminum giant Alcan for $38 billion.

Oct 17, 2011

Samsung Electronics Co Ltd said on Monday that it has filed preliminary injunction motions in Australia and Japan requesting the courts stop the sale of Apple Inc's iPhone 4S in an escalating legal battle between the two technology giants.

Oct 17, 2011

Shares in Olympus Corp plunged 22 percent on Monday after media reports quoted its ousted chief executive as accusing the board of firing him for probing allegations of improper payments related to acquisitions.

Oct 16, 2011

Shares in Olympus Corp plunged 22 percent on Monday after media reports quoted its ousted chief executive as accusing the board of firing him for probing allegations of improper payments related to acquisitions.

Oct 16, 2011

Global miner Rio Tinto signaled a major retreat from its aluminum business on Monday, putting an estimated $8 billion worth of assets up for sale across six countries, only four years after buying aluminum giant Alcan for $38 billion.

Oct 16, 2011

Billionaire investor Nelson Peltz's Trian Group called for change at custody bank State Street Corp and suggested the company should consider spinning off its investment management business in order to unlock value.

Oct 16, 2011

Citigroup may abandon its attempt to sell EMI if the U.S. bank cannot squeeze higher offers from bidders, the Financial Times reported on Monday.

Oct 16, 2011

The following is a selection of reaction from the world of motor sport to the death of Britain's Indianapolis 500 champion Dan Wheldon after a 15-car crash at the Las Vegas Indy 300 in Las Vegas on Sunday:

Oct 16, 2011

Surviving a zombie apocalypse is complicated business, but watching a drama about a zombie apocalypse shouldn't be.

Oct 16, 2011

The Detroit Lions suffered their first defeat of the National Football League season on Sunday, their 25-19 loss to the San Francisco 49ers leaving the Green Bay Packers as the only unbeaten team after six weeks of play.

Oct 16, 2011

Kinder Morgan Inc struck a $21 billion deal to buy rival El Paso Corp, combining the two largest natural gas pipeline operators in North America in a huge bet on the fast-growing market for that fuel.

Oct 16, 2011

Stand-up concert film Kevin Hart: Laugh at My Pain continued its extraordinary box-office run this weekend, passing $7 million in revenue since its September 9 release.

Oct 16, 2011

Two of the season's previously-unseen awards contenders were unveiled over the last few days, but it's a lot easier to find reactions to Steven Spielberg's The Adventures of Tintin than Clint Eastwood's J. Edgar.

Oct 16, 2011

British IndyCar driver Dan Wheldon died from injuries sustained in an horrific crash at the Las Vegas Motor Speedway on Sunday, race organisers said.

Oct 16, 2011

Actor Zachary Quinto, known for portraying Spock in the 2009 blockbuster film Star Trek, has publicly come out as a gay man.

Oct 16, 2011

Global miner Rio Tinto plans to sell 13 aluminum assets, trimming the business it expanded with the badly timed $39 billion acquisition of Alcan four years ago as it tries to boost the division's performance, it said on Monday.

Oct 16, 2011

Boxing robot movie Real Steel won the domestic box office for the second straight weekend, edging a remake of 1980s dance classic Footloose.

Oct 16, 2011

Warner Bros. wants Cloverfield director Matt Reeves to take on The Twilight Zone, TheWrap has confirmed.

Oct 16, 2011

The boxing robots of Real Steel had better footwork at the ticket window than the kids in the remake of the 1980s dance classic Footloose and held on to the domestic box-office title for a second straight week.

Oct 16, 2011

Former William Morris agent Sue Mengers, who pioneered behind-the-scenes roles for women in Hollywood, died at her home in Beverly Hills Saturday.

Oct 16, 2011

With one-third of the Dow components and crowd favorite, Apple, reporting results next week, stocks are setting the stage for another week of gains.

Oct 16, 2011

Greece's debt crisis cannot be solved without larger write downs on Greek debt and governments are trying to persuade banks to accept this, German Finance Minister Wolfgang Schaeuble said on Sunday, just days ahead of a key EU summit.

Oct 16, 2011