IBT Staff Reporter

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Government Shutdown: Reid Claims Cuts Deal, Questions on Non-Budget Items

Senate Majority Leader Harry Reid told reporters on Friday that negotiators from the House and Senate attempting to avert a government shutdown had agreed to $38 billion in spending cuts for the current fiscal year, but it was unclear what would be done about Republican requests to defund Planned Parenthood and place new restrictions on the Environmental protection agency.

Graduate uses Facebook to find financial aid

LAS VEGAS (Reuters Life!) - U.S. student Devin Valencia, the first member of her family to graduate from college, hopes others will do the same with her prizewinning idea for a Facebook application for finding financial aid.

Expedia plans to split into 2 companies

Expedia Inc, the largest online travel agency, said it plans to split into two publicly traded companies through a proposed spin-off of its TripAdvisor business, and its shares shot up 13 percent in after-hours trading.

Oil hits 32-month high on Libya shortage

Oil hit a 32-month high near $125 on Friday after attacks on Libyan oil fields raised the prospect of long-term supply cuts, with commodities in general rising on optimism global economic recovery will fuel demand.

Budget deal elusive as negotiators scramble

Facing a midnight deadline, the White House and Congress worked furiously on Friday to break a budget deadlock and avoid a federal government shutdown, after President Barack Obama and congressional leaders failed to reach a deal in late-night talks.

Portugal must agree harder reforms to get aid

Euro zone finance ministers told Portugal on Friday that it would have to implement new economic reforms that went beyond those proposed by its outgoing government if it hoped to secure aid from the EU and IMF.

Special Report: Why London can live without its big banks

Let me be crystal clear, Barclays' star investment banker and new Chief Executive Bob Diamond told members of the British parliament in January. We are going to be here in the United Kingdom, and this is the place that we want to succeed.

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