IBT Staff Reporter

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Belgium to buy Dexia's Belgian unit for $5.4 billion

The Belgium government offered to buy Dexia's Belgian banking business for 4 billion euros ($5.4 billion) and would provide the bulk of guarantees for the parent group's leftover assets, the Belgian prime minister said on Monday.

California bans use of tanning beds by minors

Minors in the state of California will no longer be allowed to use tanning beds after Governor Jerry Brown signed a bill on Sunday prohibiting anyone under the age of 18 from using ultraviolet tanning devices.

Zsa Zsa Gabor undergoes stomach surgery

Zsa Zsa Gabor had surgery on Sunday to reattach a feeding tube to her stomach after being hospitalized in Los Angeles a day earlier, and the 94-year-old actress was doing well, a spokesman said.

Banks to be forced to bolster liquid assets: FT

Global banking regulators will press ahead with the first worldwide effort to force banks to hold more liquid assets, the chairman of the Basel Committee on Banking Supervision said in an interview with the Financial Times on Monday.

Dexia bailout set as wider bank rescue mulled

Franco-Belgian bank Dexia was set to be broken up and partly nationalised after being slammed by a funding squeeze in the latest warning sign about the health of Europe's struggling lenders.

Yang eyes Yahoo buyout with private equity

For the last few years, a widely circulated joke about Jerry Yang was that he had the best tan in Silicon Valley from all the time he spent on Stanford University's golf course.

Corporate audit fees up? Beware of trouble ahead

Elevated audit fees can be a red flag of problems to come for a company, say three recent academic studies that together warn about increased chances of fraud, stock price declines or financial restatements.

Nineteen killed as Egyptian Christians, police clash

Nineteen people were killed in Cairo on Sunday when Christians, some carrying crosses and pictures of Jesus, clashed with military police, medical and security sources said, in the latest sectarian flare-up in a country in political turmoil.

European countries agree on Dexia rescue

France, Belgium and Luxembourg agreed to a rescue plan for Dexia SA on Sunday ahead of a planned board meeting expected to decide on a break-up of the first lender to fall victim to the euro zone crisis.

UAW workers reject Oshkosh pact for second time

Workers at defense contractor Oshkosh Corp turned down a new five-year contract offer from the company for a second time in little more than a week on Saturday even after union leaders narrowed differences between the two sides in recent days.

Merkel, Sarkozy tackle differences over euro crisis

German Chancellor Angela Merkel will thrash out differences with French President Nicolas Sarkozy on Sunday over how to use the euro zone's financial firepower to counter a sovereign debt crisis threatening the global economy.

France, Belgium, Luxembourg agree Dexia rescue

France, Belgium and Luxembourg agreed a rescue plan for Dexia SA on Sunday ahead of a planned board meeting expected to decide on a break-up of the first lender to fall victim to the euro zone crisis.

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