IBT Staff Reporter

Debt-laden Greece must push forward with reforms prescribed by its international lenders or face dramatic consequences, the country's central banker said in an interview.

The United States, China and other countries piled pressure on Europe on Saturday to comes to grips with its debt crisis before it risks causing bank runs and pushing the global economy into ruinous recession.

Oswald Gruebel resigned on Saturday as chief executive of troubled Swiss bank UBS, saying he took the blame for the $2.3 billion loss run up in alleged rogue trading in its investment banking division.

A senior lawmaker from German Chancellor Angela Merkel's conservatives said on Saturday the euro zone's permanent rescue mechanism should be introduced sooner than mid-2013 to beef up private creditors' response to the Greek debt crisis.

The United States and China piled pressure on Europe on Saturday to get to grips with its debt crisis before it risks causing bank runs and pushing the global economy into ruinous recession.

A new word is needed in the political lexicon to describe the phenomenon of Republican presidential candidates tripping over one another in their rush to the right: out-conservativing.

The United States and China piled pressure on Europe on Saturday to get to grips with its debt crisis before it risks causing bank runs and pushing the global economy into ruinous recession.

Treasury Secretary Timothy Geithner bluntly told European governments on Saturday to eliminate the threat of a catastrophic financial crisis by teaming up with the European Central bank to boost the continent's bailout capacity.

Oswald Gruebel resigned on Saturday as chief executive of troubled Swiss bank UBS, saying he took the blame for the $2.3 billion loss run up in alleged rogue trading in its investment banking division.

Treasury Secretary Timothy Geithner told European governments on Saturday to eliminate the threat of a catastrophic financial crisis by working more closely with the European Central bank to boost the continent's bailout capacity.

A new interactive Google Doodle celebrates what would have been Jim Henson's 75th birthday on Saturday.

German Finance Minister Wolfgang Schaeuble said in a magazine interview published on Saturday that Greece would not be able to return to capital markets next year and would need a decade to make its economy competitive.

While it has been rumored that Apple may not launch iPad 3 in near future since it is unafraid of any competition, Amazon is holding a press event next week to launch the company's new Android-based Kindle tablet lineup.

As time ticks away toward the plunge of UARS satellite, its falling trajectory still remains unknown. According to NASA, its dead, bus-sized satellite will fall back to earth in the afternoon or early evening of Sept. 23(EDT).

Earnings forecasts for U.S. companies are starting to feel the pain on Wall Street and in the broader economy as the odds of another recession rise.

Academy Award winner Morgan Freeman has some very strong opinions about racism and the Tea Party. He told CNN on the Piers Morgan Tonight show that racism in America had taken a turn for the worse since Obama took office. He also said that the Tea Party's anti-Obama stance is racist, reports the Huffington Post.

The charming and beautiful Goldie Hawn may not be very thrilled about her ex-husband's new book, Two Versions: The Other Side of Fame and Family. The explosive memoir by Bill Hudson makes shocking allegations, claiming that Hawn had a string of affairs and even wanted an open marriage.

Facebook has grabbed a lot of attention lately with efforts to combat its new competitor Google+, which has the potential to steal the ground that the social networking giant holds with a user base of 750 millions.

The board of UBS reconvened its meeting on Saturday to decide the future of its scandal-hit investment bank and Chief Executive Oswald Gruebel after the Swiss bank lost $2.3 billion in alleged rogue trading.

Champions Manchester United faces the tough trip to Stoke City on Saturday; a match many reckon will end United's perfect start to the season.

The board of directors of UBS will continue their meeting in Switzerland to discuss the fate of the country's flagship bank, a source told Reuters on Saturday.

Baby boomers may remember classical sitar player Ravi Shankar from his legendary appearances at the 1967 Monterey Pop Festival and Woodstock, or his influence on popular music culture at the time.

U.S. agencies are looking into possible similarities between the Sept. 13 attacks on U.S. and NATO targets in Afghanistan, and the November 2008 attack by militants on civilian targets in Mumbai, India.

A three-wheeled rickshaw hardly seems the vehicle of choice for travelling thousands of kilometers and crossing 14 countries.

Arsenal host Bolton Wanderers at the Emirates on Saturday, and both sides will hope to secure a vital three points and some much-needed confidence.

The handsome Taylor Lautner may be single if a recent report is to be believed. The 19-year-old actor, who plays a werewolf in love with his rival's girl in the Twilight movie series, has broken up with his girlfriend, Lily Collins, reports Us Weekly.

Unfinished car shells rusting in a deserted factory in West Bengal lie testimony to flaws in a century-old land-acquisition law the government now wants to replace.Tata Motors was forced to abandon its Nano plant in 2008 after violent protests by villagers, who claimed they were forced off the land by the local government and paid inadequate compensation.

The European Union will make a clear decision about boosting the capital of the European Financial Stability Fund before the next Group of 20 finance ministers meeting in mid-October, said Chinese Deputy Minister of Finance Zhu Guangyao.

NASA's huge six and a half ton Upper Atmosphere Research Satellite(UARS) continues to plummet towards the Earth and is expected to fall to the Earth sometime late Friday night or early Saturday morning. The 20-year-old satellite was expected to fall to Earth sometime on Friday afternoon.