IBT Staff Reporter

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Congressman Paul says Fed transparency is his goal

Republican Congressman Ron Paul, the new head of the subcommittee that oversees the Federal Reserve, said on Sunday he will seek greater transparency but will not be sending subpoenas to the central bank chairman from Day One.

Inter win FIFA Club World Cup

Inter Milan trampled over TP Mazembe to win the final of the Fifa Club World Cup and in doing so became the first Italian side to collect five major trophies in a calendar year.

Irish divided on bailout, say sovereignty lost: poll

Just over half of Irish people support a multi-billion euro EU/IMF rescue package but 56 percent believe the country has surrendered its sovereignty by accepting the assistance, a poll published on Saturday said.

Retailers hope big Saturday will clinch season

The last shopping weekend before Christmas kicked off with great weather, but not the throngs of shoppers retailers and investors were hoping would clinch a season that has so far beat expectations.

Spare thy love for grandchildren

Grandparents in the UK are providing more than 6,000 pounds ($9,350) of financial support to grandchildren as parents begin to feel the pinch of government cuts, according to a new study by M&S Money.

Gbagbo's men call for battle with opposition in Cote d'Ivoire

Cote d'Ivoire's incumbent President, Laurent Gbagbo's aides have called upon their followers to prepare for a battle against the opposing Alassane Ouattara faction. The country seems to be on the brink of civil war as neither of the both groups refused to stand down.

Ethnic tensions simmer in Russia, 'radical nationalism' on the rise

The angry mob battling the police in their riots gear at the heart of Moscow screamed, Russia for Russians! The slogans spread to the Country's second largest city of St. Petersburg. In rather a dramatic fashion, the death of one Russian football fan sparked riots that soon engulfed the whole of the country. Local media has been reporting that city centers have been shut time and again and roads were frequently blocked, over the past couple of days, following sporadic incidents.

Honda starts lease sales of the EV-neo electric scooter on Dec 24

Honda Japan today said that it will start lease sales of the EV-neo electric scooter on December 24, 2010. Designed as urban delivery vehicles, the scooters are seen by Japan's Ministry of Environment as technology development projects for global warming countermeasures.

States' budget freeze bid risks more EU wrangling

Five countries said on Saturday the EU's budget should be frozen until 2020, highlighting a new source of policy divisions that could spark a funding battle between the region's western states and their poorer peers in the east.

France's Lagarde: EU rescues violated rules: report

Euro zone policymakers deliberately chose to violate the bloc's rules in rescuing Greece and Ireland, closing ranks to protect the single currency area's future, French Economy Minister Christine Lagarde was quoted as saying.

Bank of America bans Wikileaks' transactions: report

Bank of America has banned transactions to whistle-blower site Wikileaks since Friday, according to media reports. The Obama Administration earlier urged financial organizations to sever ties with the site for illegally releasing confidential US diplomatic cables.

Why are US companies reluctant to start hiring?

U.S. companies are turning profitable again, they have stockpiles of cash and the economy is teetering on its new 'recovery' legs as the government pumps in billions of dollars trying to keep it afloat. Yet, the one thing that is crucial to the recovery is not happening - job creation - as companies remain reluctant to hire.

Madoff victims to get at least a third of lost money

Victims of Bernard Madoff's multi-billion dollar ponzi scheme are set to get a at least a third of their money back. The court-appointed trustee for Madoff's investment company - Bernard Madoff Investment Securities LLC - said Friday the estate of investor and philanthropist Jeffry M. Picower had decided to give back $5 billion. That is in addition to $2.2 billion the Picower group has given up to the U.S. government already.

Investors placing bets on 2011

Investors will be taking advantage next week of the some of the last remaining trading days of the year to place their bets on what will be the winners of 2011.

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