IBT Staff Reporter

Striking workers in South Africa's petroleum sector are discussing a revised wage offer to end a three-week-old walkout as stoppages spread to the vital mining sector, threatening supplies of coal and gold.

Higher input costs and a strong rand led to a 63 percent drop in ArcelorMittal South Africa's first-half profit and the steelmaker forecast a difficult third quarter on Wednesday, sending its shares to a 28-month low.

UBS AG was sued by the conservator for Fannie Mae and Freddie Mac , which accused the Swiss bank of misleading the housing agencies into buying risky mortgage debt, resulting in more than $900 million of losses.

Wall Street fell on Wednesday as troubling signs from U.S. corporations and falling demand for long-lasting manufactured goods discouraged investors already nervous about faltering debt talks in Washington.

Wall Street skidded on Wednesday as troubling signs from U.S. corporations and falling demand for long-lasting manufactured goods discouraged investors already nervous about faltering debt talks in Washington.

Depression rates are higher in countries with higher incomes, a study found. 121 million people worldwide suffer from depression and rates are disproportionately high in countries with higher incomes. Depression significantly decreases quality of life and inherently comes with distorted, irrational, and negative thinking patterns.

A ship broke free from a tow line and is stranded near the shore at Sheffield Beach, north of Durban, South Africa.

Spanish savings bank Bankia aims to prioritise tackling bad debts after its maiden results as a listed entity showed a rise in non-performing loans since December.

Rumor has it that Alexander Skarsgard has split from girlfriend Kate Bosworth.

'True Blood' had its season 4 premier last night and the stars of the HBO series walked the red carpet in California.

General Motors Co Chief Executive Daniel Akerson has weighed in strongly on the future of its Opel business, saying the European unit was not for sale.

Struggling Swedish car maker Saab said on Tuesday it cannot pay almost half of its workforce this month because it has not received the funds it had expected, reviving fears about its precarious finances.

Netflix Inc. has reached a deal with CBS Corp allowing the video rental service to stream shows such as Californication, Dexter and Twin Peaks to audiences in Latin America and Canada.

Following the 2009 gay-bar raid, which cost Atlanta 1 million dollars in settlement, another one of Red Dog unit's violation of constitutional conduct may cost Atlanta an extra $200,000.

Netflix may have created a storm of anger when it announced its new prices, but it's in the midst of several new deals that will help keep it on top.

Amazon.com Inc will use its surging revenue to boost growth and drive expansion into areas such as Web content and cloud computing rather than boost its margins.

French market research company Ipsos plans to buy Synovate, a unit of British marketing firm Aegis Group , for 525 million pounds in a move it said would propel it to the No. 3 spot worldwide.

The opening ceremonies of the Summer Olympic games and Paralympic Games are just one year away. See what London is doing to prepare for the Games' return after 64 years.

Former Lehman Brothers Holdings Inc executives, directors, auditors and underwriters lost their bid on Wednesday to dismiss an investor lawsuit seeking to hold them responsible for losses tied to the investment bank's collapse.

Demand for long-lasting U.S. manufactured goods fell in June and a gauge of business spending plans slipped, supporting views that the economy will not emerge quickly from its current soft patch.

Netflix sees 70 percent of subscribers choosing 'Stream Only' option.

Since Kate Middleton and Prince William's wedding this past Spring, Pippa has been a focus of tabloids all around the globe. Her Facebook fan page has over 185,000 "likes" and it is rumored that she was offered $5 to star in an adult flick by Vivid Entertainment. Just like Kate, Pippa's style has been scrutinized and praised internationally. Designed by Sarah Burton, Pippa's maid of honor gown for the royal wedding received great reviews. She has garnered great interest and fame i...

Norway's royal family and Prime Minister met survivors of the Utoya island massacre, where at least 85 people have been killed.

Health insurers WellPoint Inc and Aetna Inc posted quarterly profits above Wall Street targets and raised their full-year forecasts on Wednesday, but WellPoint warned costs for its Medicare plans for seniors were higher than it expected this year.

The 19 year-old heartthrob recently revealed to MTV News that he would love to be in a comedy film in the future. Lautner most for his role as Jacob in the mega-popular franchise: "The Twilight Saga." In the fall, we can expect the highly anticipated third installation of the series: "Breaking Dawn: Part 1." As we all know, the "Twilight" films are not really...funny. However, if you think back a few years, Lautner's resume does include some knee-slapping flicks.

A slideshow that elucidates specifciations and pictures of the top 6 tablets other than iPad 2 which can give Samsung Galaxy Tab 10.1 a run for its money:

Toys R Us, the world's largest toy retailer, said its U.S. stores will carry Amazon.com's Kindle electronic reader and related accessories starting July 31.

Fund managers are weighing up their defensive investment options as a litany of poor economic indicators from the UK, Europe and the United States hammers home fears another global recession is on its way.

The U.S. Government said that no proof exists that exposure to dust and rubble from the World Trade Center that engulfed New York City after the September 11 attacks caused cancer. The review fueled anger in some firefighters, police, and first responders said that the claim is bizarre and unsubstantiated and that they have seen too many people die from cancer to buy it.