IBT Staff Reporter

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Lawmakers close to deal to avoid default

Lawmakers were close to a last-ditch $3 trillion deal on Sunday to raise the U.S. borrowing limit and assure jittery financial markets that the United States will avoid a potentially catastrophic default.

One dies, 3 wounded in shooting near George Clinton concert

A fistfight that began near a family unity festival headlined by funk musician George Clinton ended in gunfire, killing one and injuring three, Cleveland police said on Sunday. During the fight in a parking lot near the concert venue on Saturday, one teenager produced a handgun and shot four people. One victim, a 16-year-old male, died from a wound to the head Sunday morning, Cleveland police spokesman Sammy Morris said.

Amy Winehouse tops UK albums chart after death

"Back to Black" by Amy Winehouse shot back to the top of the British albums chart Sunday, a week after the troubled singer died at the age of 27. Winehouse, famous for her distinctive soul songs and beehive hairdo, struggled with drinking and drug problems throughout much of her career. The cause of her death has not yet been determined as officials await results of toxicology tests.

Amazon flies high, may rise 25 percent more: Barron's

Amazon.com Inc shares, just below their all-time high, could rise 10 percent to 25 percent if its capital spending translates to fast growth in its retailing, Kindle e-readers and cloud-computing businesses, Barron's said in its August 1 edition.

Obama: Debt Ceiling Deal Reached

President Barack Obama told reporters Sunday that a deal has been reached to raise the federal debt ceiling and avoid the first U.S. default, the culmination of days of high-level, high-stakes political wrangling to attempt to resolve the nation's large deficits.

Tentative Debt Deal Looms in Senate, GOP Officially Holds-Off for Now

Senate Majority Leader Harry Reid has "signed-off" on a debt-raising deal that could be voted on as early as tonight, although the Senate's Republican leadership indicates a deal has not been reached yet as the U.S. attempts to avoid the first-ever default on debt by the U.S. government.

Space acquisition to step up EADS spree

EADS is poised to step up a recent buying spree with a space industry acquisition in Europe that could rank among its biggest efforts to expand, sources familiar with the matter said on Sunday.

Amy Winehouse Would Have Been a Mother

Amy Winehouse would have been a legal mother to 10-year-old Dannika had she not died so suddenly last week. The 27-year-old soul singer was preparing to adopt Dannika Augustine, whose parents had already signed the adoption papers.

Default cloud hangs over U.S. job market

The terrifying prospect of a U.S. debt default has left a cloud over businesses already reeling from the economy's tepid performance, and likely left them reluctant to ramp up hiring in July.

Chewing More Could Tell the Brain When to Stop Eating

Chewing more could make you eat less, meaning fewer calorie intake, according to a new study published in the American Journal of Clinical Nutrition. The study found a connection between the hormones that "tell the brain when to begin to eat and when to stop eating."

Debt Deal Within Sight, Key Vote Close

A deal to raise the federal debt ceiling and avoid the first ever U.S. default is "very close" and a vote on a bipartisan measure could take place as soon as Sunday night, top Senate Leaders said.

Debt deal could spur relief rally

A deal involving up to $3 trillion in deficit cuts over a decade that would let U.S. lawmakers raise the U.S. borrowing limit and avoid default could spur a relief rally in Wall Street stocks and a rise in U.S. government yields on Monday.

Amazon flies high, may rise 25 percent more: Barron's

Amazon.com Inc shares, just below their all-time high, could rise 10 percent to 25 percent if its capital spending translates to fast growth in its retailing, Kindle e-readers and cloud-computing businesses, Barron's said in its August 1 edition.

Four Dead After Planes Collide in Alaska

Four people were confirmed dead in a plane that crashed and burned after colliding in mid-air with another plane near Trapper Creek, Alaska, state troopers said late on Saturday.

Boston rough up White Sox 10-2

Red Sox starter Jon Lester received plenty of run support as Boston pulverized the Chicago White Sox 10-2 at U.S. Cellular Field Saturday.

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