IBT Staff Reporter

While the Samsung Galaxy S2 is grabbing success in other parts of the world and is about to hit the U.S. market, Motorola Droid Bionic has hit the ground and Apple’s iPhone 5 is crawling through slews of rumors to reach the release date.

China's central bank has withdrawn at least 20 billion yuan ($3 billion) from some state-owned lenders via designated central bank bills, banking sources told Reuters on Friday.

Japan's economy shrank in the second quarter at a faster pace than initially reported as companies held back on capital expenditure due to worries about a rising yen and faltering global growth.

Policymakers in advanced economies should use all available tools to boost growth, International Monetary Fund Managing Director Christine Lagarde said on Friday, calling for bold action to weather a dangerous new phase of recovery.

Policymakers in advanced economies should use all available tools to boost growth, International Monetary Fund Managing Director Christine Lagarde said on Friday, calling for bold action to weather a dangerous new phase of recovery.

China's inflation pulled back in August from a three-year high while economic activity slowed, underlining expectations that the central bank can hold off on further tightening of monetary policy in the face of a global economic slowdown.

Bank of America Corp officials have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, the Wall Street Journal said, citing people familiar with the plans.

World number one Novak Djokovic was adjudged the victor after fellow-Serb Janko Tipsarevic retired with a leg-injury in the quarterfinals of the U.S. Open and he will face Roger Federer in the semifinals.

Google Inc has bought popular dining ratings authority Zagat, adding a valuable brand to its content offerings and bolstering its push into the rapidly growing local commerce market.

World number two Rafael Nadal and breezed into the quarterfinals after an easy win against Gilles Muller in the delayed fourth-round.

World number three Roger Federer set up a semifinal meeting against top seed Novak Djokovic with a straight-sets win over Jo-Wilfried Tsonga in the quarterfinals of the U.S. Open, while Rafael Nadal will face Andy Roddick in the delayed quarterfinals.

Chinese rights activist Wang Lihong was sentenced to nine months in jail on Friday in a case that has drawn condemnation from critics who see her as a victim of the Communist Party's crackdown on Internet-spread dissent.

China's inflation pulled back in August from a three-year high, underlining expectations that price pressures have peaked and the central bank can hold off on further tightening of monetary policy in the face of a global economic slowdown.

Regulators are close to an agreement with Fannie Mae and Freddie Mac to settle a case over disclosing their exposure to risky subprime loans, The New York Times reported on Thursday.

President Barack Obama challenged Congress on Thursday to enact a $447 billion package of tax cuts and new spending to revive a stalled job market but he faces an uphill fight to win over Republicans and restore public faith in his economic stewardship.

Sonia Gandhi, leader of Congress party, returned home on Thursday after more than a month of medical treatment in the United States which had left the government rudderless to deal with the biggest protests in decades

Nasdaq OMX has intensified its opposition to the planned tie-up of NYSE Euronext and Deutsche Boerse , saying the deal would irrevocably destroy competition in Europe's listed-derivatives market, the Wall Street Journal said.

Michael Jackson fans were up in arms on Thursday over reports that promoters of a planned tribute concert had slashed ticket prices and apparently offered 2-for-1 ticket deals to the October event.

Being politically connected isn't what it used to be for corporate India.

Chrysler Group LLC and the United Auto Workers union are discussing a plan that would lift the base wages of entry-level workers at the No. 3. U.S. automaker over time, two people involved in the talks said on Thursday.

President Barack Obama's jobs package could lift economic growth by one to three percentage points in 2012, add well over one million jobs and lower the unemployment rate by at least half a percentage point, judging by early estimates.

South Korea's LG Electronics Inc denied on Friday a media report that it had slashed overseas staff in its struggling mobile phone division by about 30 percent as a part of broad-based reforms to turn the money-losing business around.

G7 finance chiefs meet on Friday under heavy pressure to take action over flagging growth in rich nations and calm the biggest confidence crisis to hit the global economy since the 2007-09 credit crunch.

Deutsche Boerse late on Thursday said shareholders in the Frankfurt-based exchange operator who had not yet tendered their stock as part of the NYSE Euronext deal, would not be forced to do so as part of a so-called squeeze-out.

President Barack Obama proposed a $447 billion jobs package on Thursday to help boost the U.S. economy, challenging Congress to pass legislation made up largely of tax cuts for workers and businesses.

Former Yahoo Inc Chief Executive Carol Bartz and her erstwhile employer are dueling over Bartz's board seat, which she says she wants to keep, despite being fired from running the company.

Bank of America executives have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, the Wall Street Journal reports, citing people familiar with the plans.

President Barack Obama proposed a $447 billion package of tax cuts and spending measures on Thursday aimed at spurring growth and hiring.

South Korean police said they had begun investigating Samsung Card over the alleged leakage of personal information on its customers.