IBT Staff Reporter

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U.S criticized over Chrysler Financial settlement

The U.S. Treasury may not have fully vetted the settlement of its interest in Chrysler Financial last year and not gotten a strong enough return for taxpayers, a bailout watchdog said in a report on Thursday.

Gap gets active in young market with Athleta store

Gap Inc's Athleta brand of athletic wear for women will open a flagship store on Thursday in San Francisco to connect with brick-and-mortar shoppers after booking double-digit sales growth through its catalogs and website.

News Corp says looking at spinout or sale of MySpace

News Corp is exploring strategic options for its MySpace Web site including a sale or a spinout, the company said on Wednesday, a day after the former social networking high-flyer slashed nearly half of its staff.

Tsotsobe leads South Africa to emphatic win

Lonwabo Tsotsobe received the man of the match award after his four wickets led South Africa to a crushing 135-run win over India in the first one-day international at Kingsmead on Wednesday.

Rupee hits 1-½ week peak; retreats on share fall

The rupee touched one-and-half-week highs early on Thursday, boosted by overnight losses in the dollar, but soon retreated tracking weak domestic shares, which added to worries of more foreign fund withdrawals.

India to ban exports of wheat products - report

The government may ban wheat product exports in a series of measures to tame spiralling food prices that have fuelled rapid inflation and increased pressure on an embattled ruling Congress party, local media said.

Euro dips before more debt auctions, oil edges up

The euro dipped on Thursday but could head higher if Spain and Italy, like Portugal, also find decent demand for their debt, while U.S. oil prices crept up to $92 a barrel, potentially straining consumers who are already watching food prices climb.

Euro steady before more debt auctions, oil advances

The euro was stable on Thursday and could head higher if Spain and Italy like Portugal also find decent demand for their debt, while U.S. oil prices marched above $92 a barrel, potentially straining consumers watching food prices climb.

Obama pays tribute to Arizona victims

President Barack Obama paid tribute on Wednesday to the victims and survivors of a mass shooting in Arizona which killed 6 and injured 14, including Rep. Gabrielle Giffords, whom the President said opened her eyes for the first time since the shooting.

Obama's Arizona memorial speech (FULL TEXT)

The following are remarks by President Barack Obama as prepared for delivery on January 12, 2010 at memorial service for the victims of the shooting in Tucson, Arizona at the University of Arizona's McKale Memorial Center in Tucson.

ITT to break itself up, fueling share rally

U.S. manufacturer ITT Corp plans to split itself into three publicly traded companies to take advantage of growing water management and industrial markets as its defense unit braces for U.S. military spending cuts.

PC shipment growth lackluster in Q4

Global personal computer shipments crept up only slightly in the fourth quarter, a pair of industry trackers said on Wednesday, hurt by weak consumer holiday demand and competition from Apple's iPad tablet.

SEC charges government website maker over CEO perks

NIC Inc, which builds websites and provides various services to more than 3,000 government agencies, agreed to settle Securities and Exchange Commission charges that it hid more than $1.18 million of perks awarded to its former chief executive.

Toyota comeback in U.S. could trigger share rebound

The public isn't cutting Toyota Motor <7203.T> much slack, but the world's top automaker is looking to shake off the recall crisis and at least match the growth in its key U.S. market this year in what could bode well for its lusterless shares.

Sudan's referendum is valid, officials say

More than enough registered voters in Sudan will cross a key participation threshold, making valid the referendum to decide whether or not the nation splits into two, officials said Wednesday.

As China moves to free up yuan, investors want more

State-owned Bank of China Ltd's move to offer limited deposit services in the renminbi to U.S. customers represents a tiny step in what will be a long journey for the Chinese unit to become a widely-traded international currency.

Investors bet on Nvidia's new mobile chips

Nvidia shares soared 15 percent on Wednesday, their biggest one-day rise in over two years, as investors bet the company's new chips would win it a major stake in future tablets and smartphones.

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