IBT Staff Reporter

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First iPhone 4S, then iPhone 3GS freebies, and finally iPhone 5 in 2012

Apple rumors have been keying in on a potential free iPhone 3GS offer after the launching of the highly anticipated iPhone 5 and iPhone 4S. Signing a 2 year contract enables users to pickup a free iPhone 3GS as part of perhaps 2 strategies for Apple. First is clearing inventory and the second is tapping into the low to mid-range smartphone user consumer market.

Exclusive: Lilly CEO defends R&D spending

Eli Lilly and Co is committed to spending what it takes to come up with innovative drugs over the long term, its chief executive said, even though the company's earnings are expected to tumble over the next three years.

Moody's warns may downgrade U.S. muni debt ratings

Moody's on Wednesday warned it may downgrade some Aaa-rated U.S. states and municipalities if the country loses its top-notch rating or if federal funding falls significantly as part of a plan to reduce the nation's deficit.

Study finds text messages help smokers quit

Smokers are twice as likely to quit when they get text messages urging them to stick to their goal of being smoke free compared with those who receive texts with no motivational messages, a British study has found.

AMR talking with Boeing, Airbus for 250 planes: report

AMR Corp's American Airlines is negotiating with aircraft makers Airbus and Boeing Co to replace its entire domestic fleet by purchasing at least 250 airplanes in a deal valued at about $15 billion, the Wall Street Journal reported.

Asia looks to friend Lagarde to honor IMF pledges

Asia's fast-rising economies set their sights on securing key IMF posts under new chief Christine Lagarde, hopeful she would be the one to make good on oft-heard pledges to give more power to emerging markets.

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