IBT Staff Reporter

South Korean President Lee Myung-bak was forceful, even bellicose, in speaking about North Korea on Monday. But on Wednesday, Lee struck a conciliatory note, expressing a desire for dialogue with his country's difficult neighbor to the north

A blizzard in the U.S. Northeast this weekend postponed about $1 billion in holiday retail sales by keeping shoppers out of stores in the days after Christmas, research firm ShopperTrak said on Wednesday.

The Justice Department wants swaps markets regulators to be a lot tougher in their proposals to limit banks from controlling swaps trading platforms, weighing in on rules that could be finalized as early as next month.

Microsoft co-founder and billionaire Paul Allen added details to the patent infringement lawsuit filed against Google, Apple, eBay, Facebook, Netflix, AOL, Yahoo!, Office Depot, OfficeMax and Staples in August.

Chile's industrial production rose 2.5 percent in November from a year ago, below market expectations in a sign of economic moderation that could prompt the central bank to hold its key rate steady in January.

Rockville-based biopharmaceutical company Emergent BioSolutions Inc. (NYSE: EBS) announced the start of a early-stage clinical trial for its third generation Anthrax vaccine candidate called NuThrax.

American online payment service provider Paypal said it will help establish an international e-commerce hub in southwestern China to cash in on the nation’s fast-growing Internet sales market.

Amid the chorus of commodity bulls and analysts predicting more rallies in 2011, some expect steep corrections if demand destruction sets in from high prices and big consumer China gets tougher against inflation.

Who said investments in research don't pay off? Scientists from around the world are diligently working to make sure that the world's finest chocolate is better and more available.

The Gold Price in Euros broke fresh all-time highs overnight in Asian trade, hitting more than €34,500 per kilo - some 38% higher in 2010.

England inflicted upon Australia one of their heaviest defeats with a margin of an innings and 157 runs to retain the Ashes on the fourth day of the fourth test at Melbourne.

China is finally stepping up to fight corruption, which has been rated as the number one problem for progress. The country issued the first ever white paper on the nation's anti-graft efforts, Xinhua, the official news agency of the government said.

India's second largest carmaker Hyundai Motor today said it will invest 4 bln rupees ($100 mln)over the next three years to set up a diesel engine manufacturing plant in Gujarat with an installed capacity of 150,000 units per annum.

Citibank has unearthed a banking fraud allegedly engineered by its relationship manager Shiv Raj Puri that could run up to $100 million at its Gurgaon branch in the north Indian state of Haryana.

Snow storms are probably worst nightmares for air travellers, especially during holiday season. Scores of passengers in U.S. continue to curse their luck as the worst December snowstorm hit northeast. Here are some tips for snow-stranded travellers.

Microsoft Corp co-founder Paul Allen relaunched a wide-ranging patent lawsuit against Apple Inc, Google Inc, Facebook and others with specific allegations that the companies are illegally using technology owned by his company.

Retail sales fell 4.1 percent in the week ending on Christmas Day, according to research firm ShopperTrak, largely because December 26 fell on a Sunday this year and was not included in Christmas week sales.

Bankers specialising in equities and emerging markets will bask in a hiring hot-spot next year, while anaemic business spells job cuts in most other investment banking areas in Europe.

U.S. home foreclosures jumped in the third quarter and banks' efforts to keep borrowers in their homes dropped as the housing market continues to struggle, U.S. bank regulators said on Wednesday.

Spain aims to sell far less debt in 2011 than it did in 2010, keeping a lid on new issuance as it looks to balance deficit-reduction goals and a market seeking high returns to invest in peripheral euro zone economies.

U.S. stocks advanced in a thinly traded session on Wednesday with the S&P 500 eyeing its best December in nearly two decades as investors remained optimistic about the prospects for equities next year.

The U.S. Postal Service is emphasizing forever in 2011.

China's central bank raised rediscount rates for banks for the first time in two years and also raised the one-year relending rate, in yet another indication that bank is serious about tightening policy.

Overseas shares traded in the United States were higher in a quiet session on Wednesday, with commodity stocks leading the way in a rebound from recent declines.

A three-year study to re-evaluate the story of the Greek Bible fragments has provided a rare glimpse of Byzantine Jewish life and culture. The new research also illustrates the cross-fertilisation between Jewish and Christian biblical scholars in the Middle Ages.

A sum up of top events that shaped United States in past decade (2000-2010). Part 2 covers 2004 to 2008 on weapons of mass destruction, Iraq, Bush second term, Hurricane Katrina, Housing bubble burst, and Barack Obama as the first Black president.

A sum up of top events that shaped US in past decade (2000-2010). Part 3 covers 2009 & 2010 on Michael Jackson’s death, US economy and jobs, Obama closing Guantanamo Bay detention, troops in Afghan, Tea Party, Sarah Palin and Nobel Peace Prize.

Close to 30 robot teachers have started teaching youngsters English in 19 elementary schools in the South Korean city of Daegu

California's Disneyland was overburdened with holiday guests for the second day in a row on Tuesday. Disney California Adventure was also shut temporarily.