IBT Staff Reporter

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Exclusive: Facebook doubles first-half revenue: source

Facebook's revenue doubled to $1.6 billion in 2011's first half, a source with knowledge of its financials told Reuters, underscoring its appeal to advertisers while it grapples with intensifying competition from the likes of Google Inc.

Source: Facebook Doubles Revenue in First Half of 2011

Facebook's revenue doubled to $1.6 billion in 2011's first half, a source with knowledge of its financials told Reuters, underscoring its appeal to advertisers while it grapples with intensifying competition from the likes of Google Inc.

Bank of Canada backs away from rate hike option

In a dramatic policy shift, the Bank of Canada said on Wednesday it saw less need to raise interest rates, becoming the latest major central bank to take a more cautious stance about the worsening global economy.

Job openings up in July but hiring slips

The number of jobs waiting to be filled edged up slightly in July but hiring dipped, preventing a much-needed boost to the struggling economic recovery, government data showed on Wednesday.

Wall Street up 2 percent as Europe concerns ease

Stocks rallied on Wednesday, reversing three days of losses on hopes the European debt crisis might ease after Germany's top court smoothed the way for Berlin's participation in bailout packages.

Med Schools Fail At Teaching Gay, Lesbian Health to Students

Individuals of the Lesbian, Gay, Bisexual, and Transgendered (LGBT) community represent a growing portion of the world's population, yet when it comes to caring for these individuals, medical training seems to fall short. According to a new study, medical schools set aside an average of only seven hours for topics related to the health care needs of LGBT patients.

GE to vigorously contest mortgage lawsuit

General Electric Co said it would vigorously contest a lawsuit by the Federal Housing Finance Agency, which said the conglomerate's former WMC unit made inaccurate statements about the sale of two residential mortgage-backed securities.

Democrat faces close race in New York stronghold

The election to replace Anthony Weiner, who resigned from Congress after being revealed as an internet womanizer who used Twitter to send lewd pictures of himself, is more competitive than anyone expected.

German court reins in Berlin on euro crisis

Germany's top court handed the country's parliament a greater say over euro zone bailouts on Wednesday, in a closely-watched ruling that could hamper Berlin's ability to act swiftly to counter a debt crisis that has plagued the currency bloc for two years.

HSBC to cut 3,000 jobs in Hong Kong

HSBC <0005.HK> , Europe's biggest bank, is to cut 3,000 jobs in Hong Kong over the next three years as it targets its first wave of an aggressive cost-cutting plan on five countries.

Sulake names Disney exec CEO in social gaming push

Finnish Internet company Sulake said it was naming Paul LaFontaine as its new chief executive in a move aimed at shifting the company known for its teen networking site Habbo Hotel more toward social gaming.

Obama to propose $300 billion jobs package: reports

President Barack Obama, facing waning confidence among Americans in his economic stewardship, plans some $300 billion in tax cuts and government spending as part of a job-creating package, U.S. media reported on Tuesday.

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