IBT Staff Reporter

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Ivorian farmers see cocoa smuggling on the rise

A small but increasing flow of cocoa beans is being smuggled out of Ivory Coast as exporters halt shipments from the top grower due to a political crisis, sending global prices to one-year highs.

G20 should better represent Africa: Botswana

Africa should have a greater presence in the Group of 20 nations rather than be largely excluded and simply told how to run their economies, Botswana's central bank governor said on Thursday.

Protests as Tunisia readies cabinet reshuffle

Protesters stormed police barricades in the Tunisian capital on Thursday and the government prepared to dismiss key loyalists of ousted leader Zine al-Abidine Ben Ali in the face of widespread public anger.

Egyptians torch police post in Suez

Egyptians torched a police post in the eastern city of Suez early on Thursday morning over the killing of protesters in anti-government demonstrations earlier in the week, a Reuters witness said.

Egypt unrest enters third day, ElBaradei to return

Egyptian police fought protesters in two cities in eastern Egypt on Thursday and Nobel Peace Prize winner Mohamed ElBaradei headed back to the country to join demonstrators trying to oust President Hosni Mubarak.

AT&T revenue, subscribers miss analyst view

AT&T Inc posted revenue that missed Wall Street estimates and its wireless subscriber growth was also slower than expected in its final quarter as the exclusive U.S. provider for the Apple Inc iPhone, sending shares down 3 percent.

Nokia sees weak Q1, flags strategy change

HELSINKI, Jan 27 - The world's biggest cellphone maker Nokia warned of a grim start to 2011 after rivals ate even more of its market share, highlighting the scale of the turnaround task facing its new boss.

U.S. budget to show higher, $1.5 trillion deficit in 2011:CBO

The U.S. federal government's budget in fiscal 2011 is expected to show a higher deficit than last year - nearly $1.5 trillion compared with nearly $1.3 trillion, according to a 10-year outlook report unveiled by Congressional Budget Office on Wednesday.

S&P cuts Japan sovereign rating

Standard & Poor's cut Japan's credit rating on Thursday for the first time since 2002, saying Tokyo had no plan to deal with its mounting debt, a warning that could rattle other heavily indebted rich countries.

Market holds near 29-month high, Netflix soars

Stock indexes held near 29-month highs on Thursday as buyers took their cues from companies reporting strong results, like Caterpillar, but the short-term technical picture suggested big gains are going to be hard to muster.

GM drops U.S. loan application after turnaround

General Motors Co has withdrawn its application for $14 billion in subsidized loans from the U.S. Department of Energy, saying it has the financial strength to fund investment in more fuel-efficient and electric vehicles on its own.

AT&T shares fall on disappointing results

AT&T Inc set a disappointing profit target after adding fewer wireless subscribers than expected in the fourth quarter, hinting at the troubles it may face once Verizon Wireless starts selling Apple Inc's iPhone.

Manufacturing profits suggest stronger economy

Slimmed-down work forces helped drive better-than-expected quarterly results from U.S. manufacturers, though some investors worried that persistently high unemployment threatens the recovery.

GM drops US loan application after turnaround

General Motors Co has withdrawn its application for $14 billion in subsidized loans from the U.S. Department of Energy, saying it has the financial strength to fund investment in more fuel-efficient and electric vehicles on its own.

Amazon's short Kindle digital books Singles hits stores

Amazon.com announced the launch of Kindle Singles digital books that are longer than a magazine article but shorter than a typical book. Priced between $0.99 and $4.99, each Kindle Single is intended to allow a single killer idea - well researched, well argued and well illustrated - to be expressed at its natural length.

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