IBT Staff Reporter

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U.S. trade deficit surges to $50.2 billion in May

The U.S. trade gap widened much more than expected in May as a jump in oil prices helped push imports to the second highest level on record and exports fell slightly from April's record high, a U.S. government report showed on Tuesday.
Jul 12, 2011

China says piracy problem not extremely serious

China said on Tuesday its crackdown on pirated goods has made great strides, a claim borne out by government statistics but not necessarily by a trip to one of Beijing's many shops where pirated software, movies and clothes are readily available.
Jul 12, 2011

Amazon seeks ballot measure to undo California tax

Amazon.com Inc has taken the first step toward asking California voters to repeal a new law requiring websites that forward shoppers to it to collect sales tax, a spokeswoman for the state's attorney general said on Monday.
Jul 12, 2011

Cisco could eliminate as many as 10,000 jobs: report

Networking equipment company Cisco Systems Inc could eliminate as many as 10,000 jobs, or about 14 percent of its workforce, to revive profit growth, Bloomberg said, citing two people familiar with the matter.
Jul 12, 2011

Small business morale falls slightly in June

Confidence among U.S. business owners slipped last month amid expectations of weak sales and a deterioration in business conditions over the next six months, a survey showed on Tuesday.
Jul 12, 2011

AIDS Patients May See Cheaper Drugs

The 'first of its kind' deal was negotiated by the U.N.-led Medicines Patent Pool, a partnership that raises money for AIDS, tuberculosis and malaria, for California-based drugmaker, Gilead Sciences Inc., to allow four of its AIDS drugs to be made by generic drug companies.
Jul 12, 2011

Futures bounce off lows but point to weak Wall Street

Wall Street was headed for a third day of losses on Tuesday as the euro zone crisis rattled investors, although their fears seemed to dissipate through the morning as stock index futures came off their lows.
Jul 12, 2011

Analysis: Gold set fair as debt focus widens to U.S.

Gold prices have soared to record highs this year on concerns over the euro zone debt crisis, and the metal could be set for another leg higher if the world's biggest economy, the United States, also starts to struggle with its debt repayments.
Jul 12, 2011

Top HTC phones which can invoke another lawsuit from Apple

Apple's fear of Android phones has reached a new high as it filed a patent infringement complaint against Taiwanese phone maker HTC with the International Trade Commission (ITC). Here is list of new and old HTC Android phones which can give iPhone 5 a run for its money.
Jul 12, 2011

Europe banks hit as Italy stokes contagion fears

European banks were battered by mounting fears Greece is heading for a disorderly default and the debt crisis could spread to Italy, sending shares skidding more than 3 percent Tuesday to a two-year low.
Jul 12, 2011

Gilead kickstarts patent pool for AIDS drugs

Gilead Sciences, the leading maker of HIV drugs, is to share intellectual property rights on its medicines in a patent pool designed to make treatments more widely available to the poor.
Jul 12, 2011

Exclusive: Apple patent lawyer to leave

Apple Inc's chief patent counsel will soon leave the company, at a time when the company is fighting numerous legal battles around the world, according to a source familiar with the situation.
Jul 12, 2011

Stock index futures signal sharp sell-off

Stock index futures pointed to a sharp fall in share prices on Tuesday after equities on Wall Street recorded their biggest fall in about a month in the previous session as concerns grew that the euro zone debt crisis could engulf other countries.
Jul 12, 2011

Sprint subpoenaed by 9 states over AT&T's T-Mobile bid

Sprint Nextel has received subpoenas from nine states in connection with antitrust reviews of AT&T's proposed $39 billion purchase of T-Mobile USA, according to a Sprint letter posted on the Federal Communications Commission website.
Jul 12, 2011

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