IBT Staff Reporter

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Obama Ends Defense of Federal Gay Marriage Ban

President Barack Obama and his administration have called unconstitutional a part of the 1996 federal law that calls the government to define marriage to be a legal union between one man and one woman. The administration will not defend Section 3 of the Defense of Marriage Act in two pending legal cases, U.S. Attorney General Eric Holder, said on Wednesday.

CEO Succession Plan Fails At Apple

Apple shareholders voted down a proposal to force management to adopt a written succession plan for the company, according to a report from Venturebeat.

Michael Maloney's Guide to Investing In Gold and Silver - Protect Your Financial Future

Throughout the ages, many things have been used as currency: livestock, grains, spices, shells, beads, and now paper. But only two things have ever been money: gold and silver. When paper money becomes too abundant, and thus loses its value, man always turns back to precious metals. During these times there is always an enormous wealth transfer, and it is within your power to transfer that wealth away from you or toward you. --Michael Maloney, precious metals investment expert

Saudi king back home, orders $37 bln in handouts

Saudi King Abdullah returned home on Wednesday after a three-month medical absence and unveiled benefits for Saudis worth some $37 billion (23 billion pounds) in an apparent bid to insulate the world's top oil exporter from an Arab protest wave.

Greek police clash with anti-austerity protesters

Greek police clashed with protesters Wednesday as around 100,000 workers, pensioners and students marched to parliament in protest at austerity policies aimed at helping Greece cope with a huge debt crisis.

Namibia cbank holds rates, sees quicker growth

Namibia's central bank kept its main interest rate unchanged at 6.0 percent on Wednesday, but said economic growth is likely to be better than previously expected as the economy recovers from a downturn.

M&R falls to H1 loss, to sell assets

South African building firm Murray & Roberts fell to a half-year loss on Wednesday and said it will sell some assets in the Middle East and Australia, as it fights to ride out an industry-wide slump.

Libyan oil output down by as much as a quarter

As much as a quarter of OPEC member Libya's oil output has been shut down, Reuters calculations showed on Wednesday, as unrest prompted oil firms to warn of production cuts in Africa's third-largest producer.

Nigeria's parliament begins oil reform debate

Nigeria's parliament has begun a detailed debate of the latest version of long-delayed reforms to Africa's biggest energy industry, just two months ahead of elections, the head of the state oil company said on Wednesday.

World govts send planes, ships for Libya evacuation

Governments around the world scrambled on Wednesday to send planes and ships to evacuate their citizens from turmoil in Libya, whose leader Muammar Gaddafi has vowed to crush a revolt against his 41-year rule.

Italy says 1,000 killed in Libya

Muammar Gaddafi's attempts to crush a revolt against his four-decade rule have killed as many as 1,000 people and split Libya, Italy's Foreign Minister said on Wednesday.

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