IBT Staff Reporter

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Cuba shuts down second Canadian trading company

Cuba has shut down one of the most important western trading companies in the country as an investigation into alleged corrupt import-export practices broadened to a second Canadian firm, foreign business sources said on Friday.

Software helps government track recovery funds

Inexpensive software and technology used mainly by intelligence agencies and law enforcement have helped limit fraud linked with $840 billion in federal recovery funds, a senior U.S. official said.

Gaddafi loyalists hold off new Libyan attacks

Diehard loyalists of Muammar Gaddafi threw rockets, mortars and heavy gunfire at Libyan fighters who pushed into two besieged towns on Friday in a bid to end months of civil war and capture key figures from the old ruling system.

UBS trader charged with $2 billion fraud

UBS trader Kweku Adoboli wept in a London court on Friday as he was charged with fraud and false accounting dating back to 2008, a day after the Swiss bank was plunged into crisis by revealing a $2 billion trading loss.

Court orders UBS trader to be held until next week

A tearful Kweku Adoboli appeared in a London court on Friday charged with fraud after Swiss bank UBS said it had lost about $2 billion in unauthorized trades. The court ordered him to be detained until a further hearing next week.

Prescreen launches limited-time indie streaming

Prescreen, a new online movie marketing and distribution platform started by former Groupon executive Shawn Bercuson, launched this week with a focus on online streaming and sharing via social media.

Director Gus Van Sant gets romantic with Restless

Restless, the new film from Oscar-nominated Milk director Gus Van Sant tells a simple tale: boy meets girl, girl dies of cancer, boy mourns girl. But in Van Sant's hands, the film is anything but a sentimental four-hankie weeper.

Wall Street set for flat open after 4-day rally

Stocks were set to open little changed on Friday after equities notched four days of gains and as European policymakers gathered to discuss the region's debt crisis, while BlackBerry maker Research in Motion weighed on the technology sector after a weak earnings report.

Citi introducing fees on low-balance bank accounts

Citigroup Inc said it will start charging a monthly fee of $10 on checking and savings accounts with combined balances of less than $1,500, joining a growing list of banks seeking to recoup revenue lost under new financial industry regulations.

Wall St flat, S&P trying for best week since July

Stocks were little changed on Friday as investors booked profits after a four-day rally, but optimism European leaders were on the right track in tackling the region's debt problem kept losses in check.

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