IBT Staff Reporter

OPEC is ready to act to address supply shortages in the oil market but not to counter price moves caused by speculation, Secretary General Abdullah al-Badri told an Austrian newspaper. The group is monitoring the situation closely, and OPEC will intervene to stabilize the market if the market is imbalanced. OPEC will not intervene because of speculators, he told Wirtschaftsblatt in excerpts of...

Europe needs to do a new round of stress tests on banks after Ireland's flawed vetting of lenders in 2010 raised doubts about a parallel Europe-wide health check, a European Central Bank executive board member was quoted as saying.

Company commits to connected cars working with various partners through the M2M initiative.

The film about a Muslim man's travails in the United States dominated Bollywood's first major awards of the year, picking up both best director and best actor titles.

President Barack Obama stressed U.S. support for Pakistan during a meeting with President Asif Ali Zardari on Friday and reiterated plans to visit Pakistan later this year, the White House said.

The storm stirred by the 13th zodiac sign, Ophicus, is the latest sensation to take over the web world. The flip-side to internet news and hoaxes is that they gain momentum in such a pace that it raises questions on people's susceptibility.

The CIA persuaded Switzerland to destroy millions of pages of evidence showing how a Pakistani scientist helped Iran, Libya and North Korea acquire sensitive nuclear technology, according to a new book.

U.S.-China relations are at a critical juncture and a summit between their leaders next week must produce real action, on real issues such as trade, climate change and North Korean nuclear proliferation, U.S. Secretary of State Hillary Clinton said on Friday.

The late Pope John Paul II moved a big step closer to Roman Catholic sainthood on Friday when his successor approved a decree attributing a miracle to him and announced that he will be beatified on May 1.

The three-part series is set to generate a lot of excitement with a love triangle and two character reveals

Dozens of Hindu devotees returning from Sabarimala shrine were killed after a road accident sparked a stampede in Kerala on Friday, TV news channels reported.

The subcontinent will be ready in time to host the World Cup though five venues were still undergoing work, the International Cricket Council (ICC) chief executive Haroon Lorgat said on Saturday.

The Securities and Exchange Board of India (SEBI) on Friday said billionaire Anil Ambani cannot invest in publicly-listed securities until the end of this year, and barred two of his companies from such investments until the end of 2012.

Details of yet another upcoming BlackBerry handset was acquired by Jonathan Geller, blogger with BoyGeniusReport. BlackBerry Apollo is the next generation Curve handset that will come with decent specifications for those who wish to enjoy the new BlackBerry OS 6.1 running on it.

Tata Steel, the world's seventh largest steel maker, could raise as much as 34.77 billion rupees ($769.5 million) in its follow-on public share sale.

Now that Ophiuchus (the serpent holder) in the astrological picture, you're probably wondering if your suddenly-new sign means that you're supposed to have particular personality traits. The real answer is that, as an Ophiuchus (Ophiuchan?), your personality traits are in line with, well, your existing personality traits.

Terrafugia Inc., the Woburn maker of a flying car, has taken in $960,000 in new equity financing, according to a recent filing with the US Securities and Exchange Commission (SEC). This adds to the $2m the company raised in a Series-B round held in May.

'The Social Network' swept best direction, 'Inception' scored on technique and 'The Fighter' in acting - here is the Critics Choice Movie Awards list.

A strong report from IBM Corp, particularly a pick-up in technology services contracts that have been a weak point in the past year, could lift Wall Street's confidence in the technology sector.

Bookseller Borders Group Inc , which is in talks to secure a $500 million credit line, has hired bankruptcy and restructuring lawyers, the Wall Street Journal reported on Friday.

Goldman Sachs Chief Executive Officer Lloyd Blankfein went to Chicago to pitch Groupon executives on hiring his bank to underwrite the online coupon company's initial public offering, Bloomberg reported on Friday.

Oil major BP Plc said it would swap 5 percent of its shares, worth $7.8 billion, for 9.5 percent of Russia's state-controlled Rosneft , and the two companies would jointly develop offshore Arctic oil and gas fields in Russia.

Chief financial officers from U.S. multinational companies met with Treasury Secretary Timothy Geithner on Friday to air gripes about the tax code under which they pay the steepest rate in the industrialized world.

Intel Corp has reached a settlement with WiLAN Inc over lawsuits alleging the chipmaker infringed on a string of wireless and Internet patents, sending WiLAN's shares surging.

BP Plc and Russia's state-controlled Rosneft agreed to a share swap under which they plan to jointly explore for offshore oil and gas in a deal that gives the UK company access to areas of the Arctic previously reserved for Russian oil companies.

Hewlett-Packard Co is formulating what it calls a bold plan for its future under new chief executive Leo Apotheker, but dismissed a report that it would reshuffle its top executives.

Jeffrey Saut simply looks up to remind himself which tech stocks will be hot in 2011.

U.S. companies want a lot out of Chinese President Hu Jintao when he visits Washington next week. They have a long list of moans and desires.

JPMorgan Chase & Co's commodities trading risk steadied in the fourth quarter after a rally in oil, metals and grains, marking a shift from the third quarter when it cut risk to pare back on proprietary trading.