IBT Staff Reporter

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Others may follow Deutsche U.S. tax fraud deal

Deutsche Bank's settlement of a U.S. tax fraud case has raised expectations of similar deals being struck by other banks, although there was relief that the $553.6 million cost to the German bank would not hit its earnings.

Rio Tinto near deal on $3.8 billion Riversdale bid: sources

Anglo-Australian miner Rio Tinto is finalizing a $3.8 billion takeover bid for Africa-focused Riversdale , according to two sources, upping an earlier offer as it seeks to gain key coking coal supplies amid soaring demand from India and China.

Adidas to grow faster than Nike: report

German sporting goods company Adidas will grow faster than U.S. archrival Nike in 2015, Adidas Chief Executive Herbert Hainer told German daily Boersen-Zeitung.

Dangdang to diversify from books, plans expansion

Online retailer Dangdang Inc, considered as China's answer to Amazon.com, aims for sales of general merchandise to exceed that of books and other media as it diversifies in the highly competitive e-commerce sector.

Microsoft said to plan new Windows for tablets

Microsoft Corp is working on a version of its core Windows operating system for devices such as tablets, according to media reports on Tuesday, and the company said its Windows Phone 7 software is making headway in the booming smartphone market.

China aims to improve trade balance in 2011

China will try to import more in 2011 while keeping exports steady, Commerce Minister Chen Deming said on Wednesday, in a sign that the world's second-largest economy is keen to pull more weight as a consumer.

Factbox: Impact of U.S. Internet rules

The Federal Communications Commission adopted Internet traffic rules on Tuesday that would ban Internet service providers from blocking or discriminating against traffic on their networks.

World's bankers brace for 7 percent drop in bonuses

From Wall Street to the City of London to Hong Kong's Central District, bankers are bracing for bonuses to be down 7 percent on average from a year ago, and higher salaries will only partially cushion the hit, a Reuters/IFR global poll shows.

Red Hat Says Profits Up 92 Percent

Red Hat announced financial results for its fiscal year 2011 third quarter, reporting a rise in operating income of 92 percent year over year.

Nike future orders disappoint, shares fall

Nike Inc posted future orders data that missed many analysts' expectations Tuesday, sending shares of the world's largest athletic shoe and clothing maker down almost 6 percent.

Backers of 9/11 health bill rally

Sponsors and supporters of the James Zadroga 9/11 Health and Compensation Act were in Washington, D.C. today to urge the U.S. Senate to get past partisanship and pass the measure that will bring permanent healthcare and compensation to the approximately 20,000 Americans who are suffering from illnesses contracted while working at Ground Zero in the weeks following the Sept. 11, 2001 terrorist attacks on the World Trade Center in Lower Manhattan.

Start Treaty set to pass, clears key hurdle

The nuclear-arms reduction treaty between the United States and Russia cleared a key hurdle in the Senate on Tuesday as Senators voted by a significant margin to advance the bill for a final vote.

CFTC names flash crash expert as chief economist

The U.S. futures regulator said on Tuesday it has promoted Andrei Kirilenko, an economist known for his role in the review of the May 6 flash crash, as chief economist for the Commodity Futures Trading Commission.

Census 2010 results to show U.S. Latino growth

The U.S. Latino population, which several decades ago was mostly concentrated in the Southwestern part of the country, is expected to show continued growth and geographic expansion in the 2010 Census report.

Senate passes government funding bill

Chances that the federal government will remain open for the next several months improved today, as the Senate passed a Continuing Resolution to keep government programs funded, for the most part, at current levels until March 4, 2011.

Divided FCC adopts Internet traffic rules

A divided Federal Communications Commission adopted Internet traffic rules on Tuesday, attracting warnings they would be rejected in the courts and threats from Republican lawmakers to overturn them.

Europe warns of pain for Allied Irish creditors

Allied Irish Banks' junior bondholders will have to take a big hit in a future restructuring, the European Commission warned on Tuesday as it rubber-stamped billions of euros in state aid for Irish banks.

Ernst & Young accused of hiding Lehman troubles

Accounting firm Ernst & Young was sued by New York prosecutors over allegations it helped to hide Lehman Brothers' financial problems, in the first major government legal action stemming from the Wall Street company's 2008 downfall.

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