IBT Staff Reporter

57991-58020 (out of 154952)

U.S. to sue big banks over mortgage securities: report

The agency that oversees mortgage markets is preparing to file suit against more than a dozen big banks, accusing them of misrepresenting the quality of mortgages they packaged and sold during the housing bubble, The New York Times reported on Thursday.

Greece, EU/IMF pause talks; to resume in 10 days

Talks between Greece and EU/IMF/ECB inspectors on whether it has met conditions for a new aid tranche have been put on hold, a Greek official said on Friday, a day after Athens admitted it would miss its budget deficit targets this year.

Stocks seen lower ahead of payroll data

Stock index futures pointed to a lower open on Wall Street on Friday, with futures for the S&P 500, Dow Jones and Nasdaq 100 all down 0.7 percent at 5:18 a.m. EDT on fears the U.S. non-farm payrolls could be weaker than expected.

China's Baidu offers glimpse of new mobile OS

China's top search engine Baidu Inc offered a glimpse of its upcoming mobile operating system and launched a new mobile application platform on Friday aimed at bolstering its presence in the increasingly competitive mobile web market.

Astra's Crestor drug fails to beat Pfizer's Lipitor

AstraZeneca Plc's key cholesterol drug Crestor failed to beat Pfizer Inc's Lipitor in a head-to-head clinical study, limiting any protection the British company will get as its U.S. rival faces competition from cheap generic copies.

Fed asks BofA to list contingency plan: report

The Federal Reserve has asked Bank of America Corp to show what measures it could take if business conditions worsen, the Wall Street Journal said, citing people familiar with the situation.

Analysis: Gold sales would not solve Europe's debt troubles

Europe's most indebted nations are under heavy pressure from their richer neighbors to sort out their finances, but they are unlikely to mimic the impoverished gentlefolk of old by selling off the family silver -- or in their case, gold -- to do so.

China's Baidu launches mobile apps platform

China's top search engine Baidu Inc launched a new mobile application system on Friday, seeking to bolster its presence in the mobile web as competitors including Alibaba Group increase their mobile offerings.

China State Paper Urges Internet Rethink to Silence Foes

China's Communist Party control is at risk unless the government takes firmer steps to stop Internet opinion being shaped by increasingly organized political foes, a team of party writers warned in a commentary published on Friday.

Eli Lilly may partner with Turkish generic maker: report

U.S. drugmaker Eli Lilly & Co is in talks to form a partnership with, and potentially invest in, Turkish generic-drug company Mustafa Nevzat Ilac Sanayii AS , the Wall Street Journal reported, citing people familiar with the matter.

Citi poaches Deutsche's Murphy in Asia prime broking push

Citigroup Inc has hired Deutsche Bank AG's David Murphy as head of its prime finance unit in Asia-Pacific, according to an internal memo seen by Reuters, as part of an plan to gain market share in the fiercely competitive industry.

Cameron Avows Support to Libya

David Cameron has pledged the continuance of the combined UN and Nato operation against Libya, to prevent a pariah state on the borders of Europe.

Japan PM picks relatively unknown finance minister

New Japanese Prime Minister Yoshihiko Noda picked a relatively lightweight lawmaker as finance minister on Friday, signaling the fiscally conservative leader intends to call the shots on key economic policies himself.

Slumping confidence likely curbed August hiring

Sagging consumer confidence probably discouraged already skittish U.S. businesses from stepping up hiring in August, keeping pressure on the Federal Reserve to provide more monetary stimulus to aid the economy.

Instant view: Azumi to be Japan finance minister

Jun Azumi, a former parliamentary affairs chief for the ruling Democratic Party, will become Japan's new finance minister, local media said, after new Prime Minister Yoshihiko Noda's first choice for the job reportedly turned it down.

Cher Slams stupid bigots Over son Chaz Bono

Cher has slammed the stupid bigots who have attacked the casting of her transgender son Chaz on TV show Dancing with the Stars, and called on her fans to flood social media websites with messages of support.

Greece to miss 2011 deficit target: sources

Greece will miss its budget deficit target this year, the government and its international lenders said on Thursday, but they disagreed on how big the fiscal derailment will be and what is to blame.

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