IBT Staff Reporter

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BofA cutting 3,500 jobs this quarter: memo

Bank of America Corp plans to cut 3,500 jobs in the next few weeks as CEO Brian Moynihan tries to come to grips with the bank's $1 trillion pile of problem home mortgages.

Fed's Pianalto: years to lower unemployment

The economy is growing so slowly that it will take years to wrench lofty unemployment rates back to normal levels, Cleveland Federal Reserve Bank President Sandra Pianalto said on Friday.

Everyone Should Get a Flu Vaccine this Year: CDC

The Centers for Disease Control and Prevention said that everyone six month of age of older should receive flu vaccinations this year. The CDC also said that flu strains are the same as last year's.

Police payment emails growing worry for Murdoch executives

Executives at Rupert Murdoch's UK-based News International are concerned that emails discussing questionable payments made to police by the News of the World may prove more problematic than those that discuss phone hacking, sources familiar with investigations into the shuttered tabloid's reporting practices said.

S.Africa mine union rejects revised Implats offer

South Africa's National Union of Mineworkers members at Impala Platinum on Friday rejected a revised pay rise offer from the world's second largest producer of the precious metal and will refer the dispute to arbitration.

China's demand for W. African crude jumps -trade

China's buying of West African crude oil is set to rise about 15 percent in September from August, trade sources said on Friday, but overall Asian imports from West Africa will fall due to slower Indian demand.

Morocco's inflation jumps above f'cast in July

Inflation in Morocco jumped to 1.8 percent in July from a year earlier, exceeding the average forecast for 2011 for the first time this year, due mainly to a surge in food prices, the state High Planning Commission (HCP) said on Friday.

Apple's iPad 3 Coming Early 2012 With Retina Display

Apple's upcoming iPad 3 is reportedly beginning its trial production by October, aimed for an early 2012 launch.Sources familiar with the situation told the Wall Street Journal that Apple has ordered chips, display panels and other key components for the iPad 3. small quantities of components have been shipped for the tablet's sampling.

Kazakhstan blocks extremist foreign Internet sites

A court in Kazakhstan ruled on Friday to block access to 13 foreign Internet sites, including the popular blogging service LiveJournal, saying they were propagating terrorism and inciting religious hatred.

Amplats ups offer in S.Africa platinum pay talks

South Africa's National Union of Mineworkers said Anglo American Platinum (Amplats), the world's largest platinum producer, again raised its wage offer on Friday, trying to head off a strike that could cause a jump in global prices of the precious metal.

Autonomy/HP deal spotlights data deluge

Hopes Hewlett-Packard's $11.7 billion bid for Autonomy will be the first of many in the European software industry could be misplaced because Autonomy has an appeal that others cannot match.

Hedge fund Cairn sees France, Germany downgrades

France's top AAA credit rating is likely to be downgraded and Germany could easily follow as the costs of bailing out weaker euro zone economies push up their own debt piles, says credit hedge fund firm Cairn Capital's chief investment strategist.

U.S. oil speculative data released by Senator, sparking ire

Oil trading data that exposed the extensive positions speculators held in the run-up to record high prices in 2008 were intentionally leaked by a U.S. senator, sparking broader concern about industry confidentiality as Congress moves on Wall Street reform.

European software stocks leap on HP's Autonomy bid

Shares in European software makers jumped in a falling market on Friday on hopes they were more likely bid targets after Hewlett-Packard's $11.7 billion bid for British enterprise search-software maker Autonomy.

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