IBT Staff Reporter

68101-68130 (out of 154942)

Lockheed space unit to cut about 1,200 jobs

Lockheed Martin Corp's space systems unit said on Tuesday it would cut 1,200 workers, or about 7.5 percent of the division's total workforce, by year's end to reduce costs and improve its competitive standing.

Bernanke, Obama warn as lawmakers meet on budget

The chairman of the Federal Reserve warned on Tuesday that a failure to lift the government's borrowing limit could risk a potentially disastrous loss of confidence, giving further impetus to the latest round of deficit-reduction talks by top lawmakers.

Google shows features to speed up Web searches

Google Inc unveiled new features and technology to speed up Web searches and to make it easier for people to use its flagship search engine as they increasingly access the Internet from handheld mobile devices.

Yemeni blogger seeks Swedish asylum after threats

A Yemeni blogger said on Tuesday she has applied for political asylum in Sweden after receiving death threats for her criticism of President Ali Abdullah Saleh and fears growing violence in her homeland.

Citi looking for Manhattan office space: sources

Citigroup Inc is in the early stages of looking for about 1 million square feet of office space in Manhattan and considering space at the World Trade Center site and at the Hudson Yards, according to two people familiar with the matter.

Exclusive: Terrestar nears $1.2 billion-plus bid pact: sources

Bankrupt telecommunications company Terrestar Networks Inc is nearing a minimum bid agreement of $1.2 billion to $1.4 billion and is likely to go with an offer from billionaire Charlie Ergen, chairman of Dish Network Corp , according to sources with direct knowledge of the situation.

Apple's head of retail to become Penney CEO

Department store chain J.C. Penney Co Inc is bringing in the man who oversaw Apple Inc's wildly successful foray into bricks and mortar stores as its new chief executive, news that sent Penney shares up 17 percent.

Old surgeon escaped small plane crash

Antenor Velazco, a 63-year-old orthopedic surgeon on his way to obtain his pilot license, barely eloped from his plane before it exploded into flames Tuesday afternoon.

Consumers spend less, recovery seen on horizon

Consumers have not pulled back aggressively despite the recent slowdown in the economy, retail sales data showed on Tuesday, and falling gasoline prices should support growth in the months ahead.

Bernanke warns of crisis if debt limit not raised

Federal Reserve Chairman Ben Bernanke warned on Tuesday that a failure to lift the government's $14.3 trillion debt ceiling risks a potentially disastrous loss of confidence in America's creditworthiness.

AMD launches new chips, challenges Intel

Advanced Micro Devices, nearing half a year without a chief executive, is launching new processors aimed at mainstream personal computers and challenging rivals Intel and Nvidia.

Wall Street rebounds in oversold market

Stocks posted their biggest gains in nearly two months on Tuesday as retail sales figures allayed fears over the economy that had driven a six-week slump in the market.

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