IBT Staff Reporter

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U.S. judge to approve plan that pays GM creditors

A federal judge said on Thursday he would approve the bankruptcy plan for Old GM, wrapping up one of the most complex Chapter 11 cases in U.S. history and paving the way for a distribution of General Motors stock and warrants to creditors.

China Mobile says Apple interested in TD-LTE

China Mobile Ltd, the world's largest mobile carrier by subscribers, said on Friday that Apple Inc Chief Executive Steve Jobs has expressed interest in developing an iPhone based on the Chinese carrier's network standard.

Wall Street futures gain ahead of payrolls

U.S. stock index futures pointed to a slightly higher open for Wall Street on Friday, adding to hefty gains on Thursday, with futures for the S&P 500, Dow Jones futures and Nasdaq futures all up around 0.2 percent by 4.20 a.m. EST.

Goldman's Blankfein to testify at Galleon insider trading

Goldman Sachs Group Chief Executive Lloyd Blankfein has agreed to testify for the U.S. government at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam, the Wall Street Journal reported, citing people familiar with the matter.

Sony says PS3s seized in Netherlands in LG dispute

Sony Corp said on Friday shipments of its PlayStation 3 game consoles were being seized by customs officers in the Netherlands following a court injunction initiated by LG Electronics over a patent dispute.

Microsoft's Bing launches deals feature

Microsoft Corp's Bing search engine said it launched 'Bing deals' for both the desktop and mobile, allowing consumers to find the best deals locally, a service that will pit it against daily deals website Groupon.

Goldman's Blankfein to testify at Galleon insider-trading

Goldman Sachs Group Chief Executive Lloyd Blankfein has agreed to testify for the U.S. government at the upcoming trial of Galleon hedge fund founder Raj Rajaratnam, the Wall Street Journal reported, citing people familiar with the matter.

Banks receive proposals on troubled mortgages: report

U.S. banks received a proposal from state attorneys general and several federal agencies that could require them to reduce loan balances of troubled mortgage borrowers, the Wall Street Journal said, citing people familiar with the matter.

Banks can meet Basel III standards - RBI

Indian banks overall have sufficient capital to meet the new Basel III standard but a few may need to augment their capital to get there, Reserve Bank of India Governor Duvvuri Subbarao said on Thursday.

Asia stocks set for biggest weekly rise in 3 months

Asian stocks were poised for their best weekly gains in three months as market players hunted for bargains while the euro perked up after the European Central Bank signaled a rate hike as early as next month.

Jobs seen at 9-month high in February

Employers probably hired more workers in February than in any month since May last year, recovering from extreme winter weather and raising hopes the economic recovery has gathered critical momentum.

Exclusive: Chrysler refinancing talks advance: sources

Chrysler Group LLC is in advanced discussions with banks on refinancing about $7 billion in government debt and establishing a credit facility in a process that would help clear the way for its initial public offering later this year.

Judge to approve plan that pays GM creditors

A federal judge said on Thursday he would approve the bankruptcy plan for Old GM, wrapping up one of the most complex Chapter 11 cases in U.S. history and paving the way for a distribution of General Motors stock and warrants to creditors.

Nintendo has high hopes for 3DS

Nintendo Co Ltd said it has set ambitious goals for its newest handheld gaming system despite growing competition from smartphones like Apple's iPhone.

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