IBT Staff Reporter

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Morgan Stanley Chairman Mack to retire at year-end

Morgan Stanley Chairman John Mack, whose sharp elbows and aggressive cost-cutting tactics earned him the nickname Mack The Knife, will step down at the end of the year, fully handing the reins to Chief Executive James Gorman.

Eagles' Vick set for high-stakes return to Atlanta

Philadelphia Eagles quarterback Michael Vick is not counting on much love from the crowd when he visits his former Atlanta Falcons team for the first time as a starter in a matchup of two clubs with Super Bowl hopes.

UPS on track for record profit in 2011

United Parcel Service Chief Executive Scott Davis said the world's largest package delivery company is on track for record results this year even in the face of the economy's bumpy ride.

Morocco's trade deficit expands by end: August

Morocco's trade deficit expanded 22.6 percent in the January-August period from a year ago to 122.2 billion dirhams due mainly to higher spending on energy imports, official data showed on Thursday.

Ivory Coast rebounding faster than expected: IMF

The International Monetary Fund raised its forecast for growth in Ivory Coast on Thursday, citing a faster-than-expected rebound in industrial and agricultural production since the end of a post-election conflict.

S.Africa to build new nuclear plants

South African energy minister Dipuo Peters said on Thursday she had signed off on a proposal for new nuclear power plants, likely worth tens of billions of dollars, and said it would be presented to cabinet soon.

S.Africa bonds turn firmer, stocks jump nearly 2 pct

South Africa's government bonds reversed losses on Thursday and yields fell as investors drifted back into local debt to snap up bargains following a couple of days of heavy selling when risk aversion hit emerging markets.

S.Africa's Zuma asks for new probe of arms deal

South African President Jacob Zuma will appoint a commission to investigate a multi-billion dollar arms deal, his office said on Thursday, in a new probe into corruption allegations against several companies and top officials including Zuma himself.

Sarkozy, Cameron hailed in Libya, offer help

Nicolas Sarkozy and David Cameron landed in Libya to a heroes' welcome on Wednesday, promising help for the new rulers that French and British air power helped to install and being told the favour may be repaid in business contracts.

Job market, factory data show weakness

New claims for jobless aid rose unexpectedly last week and factory activity along much of the Eastern seaboard contracted early this month, bolstering the case for more action to support the struggling economy.

Oil boosts Canadian factory sales in July

Sales jumped 2.7 percent in the month to C$46.7 billion ($46.7 billion) following three straight months of declines and beating estimates of a 1.3 percent gain, Statistics Canada said on Thursday.

Central banks expand dollar operations

Major central banks around the world will cooperate to offer three-month U.S. dollar loans to commercial banks in order to prevent money markets from freezing up in the wake of Europe's sovereign debt crisis.

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