IBT Staff Reporter

Michael Jackson's red leather jacket from his music video Thriller was sold for $1.8 million dollars at an auction on Sunday, according to Julien's auctions website.

Premier Wen Jiabao signaled for the first time that China would struggle to meet its 4 percent inflation target this year.

Pop legend Michael Jackson's red and black leather jacket has been sold for whopping $1.8 million at auction run by Julien's Auctions Gallery in Beverly Hills. It sold at a price much higher than the expected $400,000.

Pixar's latest movie Cars 2 didn't set any records for its studio in its opening weekend.

Lower body fat percentage does not always decrease your chance of having heart disease and diabetes, according to a new study.

The Dark Knight Rises latest set photos have revealed the new Wayne manor and a graveyard location which sits next to the property. The Wollaton Hall, located in England, showcases the new mansion that Bruce Wayne will reside after the previous manor was burnt down in Batman Begins.

She seems she can fly, at least in the photos. Dubbed 'Tokyo's Levitating Girl,' she has photographed herself suspended mid air all over the Japanese capital - on city pavements, in restaurants and deserted fields all over the Japanese capital.

The future of same-sex marriage in New York after lawmakers' decision to legalize it on Friday is still in flux as proponents aim to influence media coverage and opponents say that Republicans who voted for the bill in New York will feel the consequences of their actions in the 2012 elections.

There were 347 million people with diabetes worldwide in 2008, according to international team of researchers working with The World Health Organization (WHO).

Philippines have discovered more than 300 new species in the island of Luzon after scientists from the country together with the California Academy of Science ran a 42-day expedition.

LulzSec, a group of hackers that recently drew public attention for carrying out notorious cyber war against government and prominent organizations, has announced a halt to their hacking activities while exposing massive amounts of leaked data to the public.

The French government and banks have agreed on a proposal to make a Greek debt rollover more palatable to creditors, a banking source said on Sunday, confirming a report in Le Figaro newspaper.

While natural gas companies like ConocoPhillips and Chesapeake Energy Corporation are making big bets on wells that are supposed to extract energy from shale formations, the New York Times reported that an investigation of e-mails and documents shows industry insiders have doubts as to whether the companies will be able to deliver on their promises to investors.

Greece's deputy prime minister warned on Sunday that rebel lawmakers may block some reforms sought by international lenders but parliament would probably back an overall austerity package this week to avert a sovereign default.

The World Bank said on Sunday it would have to take stock of plans to lend to Egypt after the International Monetary Fund confirmed the authorities no longer wanted an IMF-backed loan program.

The French government and banks have agreed on a Greek debt rollover plan involving longer maturities, a banking source said on Sunday, confirming a report in Le Figaro newspaper.

Two million turned out for one of the largest gay pride parades rejoicing at the legalization of same-sex marriage in New York State.

Two million turned out for one of the largest gay pride parades rejoicing at the legalization of same-sex marriage in New York State.

The Golden State Warriors and Houston Rockets are talking trade between their big men. The trade in question is Warriors center Andris Biedrins for the Rockets center Hasheem Thabeet and power forward Jordan Hill.

The New York Knicks may be interested in the services of Kwame Brown to play center for the team. Brown is currently a free agent of the Charlotte Bobcats.

Mexico's national team showed speed, power, and endurance throughout the CONCACAF Gold Cup tournament, in particular in its win over the USA 4-2 last night.

Following Vermont, New Hampshire, Massachusetts, Connecticut, District Columbia and Iowa, New York State has become the sixth U.S. State to allow full marriage rights to same sex couples by law.

With the recent discovery of an uncontacted Amazon tribe in Brazil, our attention goes to the tribal people and Brazilian Amazon rainforest.

The U.S. economy has decelerated sharply. A snapshot of the nation's manufacturing sector this week should help reveal whether the slowdown is temporary or the start of a trend.

Pablo Barrera scored the clutch goals of the game and Giovani dos Santos sealed the win as Mexico dominated USA 4-2 on Saturday, showing who was boss of North America in the CONCACAF Gold Cup.

Greece's deputy prime minister warned on Sunday that rebel lawmakers may block some reforms sought by international lenders, though parliament will probably back an overall austerity package this week to avert national bankruptcy.

Renren Inc was hyped as the Facebook of China, a company that had access to the world's largest Internet market, and a good way to ride the buzz surrounding social media IPOs -- but investors who believed the story are nursing big wounds.

Manchester United will join local-rivals Manchester City and Real Madrid in the race to sign highly-rated Napoli striker Edison Cavani, but could face a fight to hold onto Park Ji-Sung and Nani.

Global interest rates must rise to avoid high inflation becoming entrenched, the Bank for International Settlements said on Sunday.