IBT Staff Reporter

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Nixon?s Secret Watergate Testimony to be Released: Judge

A Federal Judge on Friday ordered the release of the transcripts of the 36-year-old secret testimony that former President Nixon gave to the grand jury following the infamous Watergate scandal. The transcripts will enable historians and scholars to gauge the extent of Nixon's role in the affair - a subject of popular speculation.

Nintendo Slashes 3DS Price

The sluggish sales of Nintendo's new gaming device 3DS pushed the company to make a surprising move to slash the price by $80, or more than 30 percent, possibly losing money for each sale of the device.

Senate Votes to Kill Boehner Debt Ceiling Bill

The Democrat-led U.S. Senate on Friday voted to, in effect, block a bill passed in the House by the Republican Majority that would have raised the U.S. federal debt ceiling in a two-stage process.

Court upholds patenting of genes in Myriad case

A federal appeals court affirmed the right of Myriad Genetics to patent two genes linked to breast cancer, overturning a lower court ruling that threatened a key element of the biotech business.

Debt crisis strains banks, threatens consumers

The crisis over raising the debt ceiling may have been manufactured by politicians, as many on Wall Street charge, but its effect on consumers and the broader economy is likely to prove very real.

Lehman to appeal order validating Barclays sale

Lehman Brothers Holdings Inc will appeal a court order upholding the rushed sale of its North American business to Barclays PLC nearly three years ago, a deal Lehman said afforded Barclays an $11 billion windfall.

Ford hopes to avoid strike in labor talks

Ford Motor Co's labor chief said the U.S. automaker hopes to avoid a strike in its talks for a new labor deal with the United Auto Workers union, which officially began on Friday.

Yahoo gets short end of stick in Alibaba deal

Yahoo Inc got short-changed -- that's the view of analysts picking apart the complex deal it announced on Friday with Alibaba Group and SoftBank Corp over Chinese e-payments unit Alipay.

Apple Tops the Smartphone Foodchain, Samsung on the Prowl

Nokia and Samsung has been demoted with Apple becoming the top smartphone vendor in the fierce global mobile device war. According to reports, Apple has sold over 20 million iPhones along with over 9 million iPads in the second quarter.

Analysis: Answers to the 7 big what-ifs of debt default

The debt negotiations are getting down to the wire. Republican and Democratic lawmakers are scrambling to broker a deal to raise the country's $14.3 trillion debt ceiling before Tuesday, when the Treasury will no longer be able to borrow funds to meet all of its obligations. It all means the United States could face the possibility of defaulting on its debt and losing its prized triple-A credit r...

House Passes Two-Stage Debt Ceiling Plan

The House of Representatives has passed a bill to raise the U.S. debt ceiling and cut federal spending, although Democrats have already vowed to defeat the measure ahead of an August 2 deadline.

Yahoo got short end of stick in Alibaba deal

Yahoo Inc got short-changed -- that's the view of analysts picking apart the complex deal it announced on Friday with Alibaba Group and SoftBank Corp over Chinese e-payments unit Alipay.

Republicans pass Budget Deficit Plan

The House of Representatives approved a Republican plan to cut the budget deficit on Friday that is doomed to defeat in the Senate but which could pave the way for a bipartisan compromise to avert a U.S. debt default.

Americans press Congress on debt via phones, Twitter

Americans took to the phone lines and the Internet on Friday after President Barack Obama urged them again to call lawmakers and weigh in on a war over raising the U.S. debt limit that has sharply divided Congress.

Treasury may drop bonds sales with no debt deal

The government prepared Wall Street firms on Friday for the possibility it may have to delay or cancel a major round of bond sales if Congress doesn't raise the nation's borrowing limit by August 2.

Growth anemic, debt row poses recession risk

The economy stumbled badly in the first half of 2011 and came dangerously close to contracting in the January-March period, raising the risk of a recession if a standoff over the nation's debt does not end quickly.

How the iPhone 5 could save Sprint

With the iPhone 5 set to be released later this fall, there has been some rumors that Apple may be looking to release the phone on both the Sprint and T-mobile networks.

Merck to slash jobs in cost-savings drive

Merck & Co Inc plans to cut another 12,000 to 13,000 jobs by late 2015 to wring out additional annual cost savings of up to $1.5 billion that can be plowed back into research and deal making.

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