IBT Staff Reporter

Former Sen. Alan Simpson, R-WY, has a reputation of being frank to the point of being blunt. He did not disappoint today, when expressing what he called the main message from the National Commission on Fiscal Responsibility and Reform.

Kenya's central bank said on Tuesday it would be revising its monetary policy targets after signs that two years of monetary easing had lowered commercial lending rates and increased loan volumes.

Recession-sapped diners will splash a little more cash eating out this holiday season, and restaurant chains will cash in by offering special festive flavors to keep consumers coming back for more.

Boeing has signed a contract with Copa Airlines of Panama to provide that carrier with 22 737-800 aircraft for $1.7 billion, according to the U.S. Department of Commerce.

The U.S. Department of Defense is scheduled to release on Tuesday its research findings and report examining the effects of repealing the 1993 Don't Ask, Don't Tell policy.

The American people did not vote for political gridlock in Washington, according to President Barack Obama who today met with Congressional leaders from both parties to discuss what they consider the main components of the national agenda.

Associates of U.S. law firms can look forward to fat year-end bonuses that are ranging from $7,500 to $35,000 though the bonus levels are significantly lower than all-time highs of 2007.

ON Semiconductor is boosting its purchase price of Sanyo Semiconductor, according to a Securities and Exchange Commission filing.

The Utah Supreme Court has ruled that a state can be sued for negligence in case of wild animal attacks and cannot raise immunity defenses.

Scientists have discovered that the air above the Dead Sea in Israel is laden with oxidized mercury, showing some of the highest levels of the oxidized form of the dangerous neurotoxin ever observed outside the polar regions, according to the United States National Science Foundation.

Gold touched a 1-week high for Dollar investors but broke new all-time records for Euro and Sterling buyers on Tuesday morning, as industrial commodities slipped and the US currency rose against all competitors bar the Japanese Yen.

Federal prosecutors have indicted six people in a $32 million Internet collections scam that has snared 80 lawyers in Pennsylvania, Massachusetts, Alabama and Georgia.

As US Supreme Court agreed yesterday to give Microsoft a hearing related to a 2009 court order that required it to pay $290 million to i4i for patent infringement related to its high-profile product Microsoft Word, Microsoft itself has been on a buying spree collecting patents that cover a range of its products.

US secretary of state Hillary Clinton embarked on a four-day visit to Asia on Tuesday amid publication of classified US State Department cables by WikiLeaks that continued to make headlines around the world.

After their disappointing bowling attack in the second innings against England in the first Ashes test at Brisbane, Australia bolstered their pace attack for the second Ashes Test at Adelaide.

Anne Hathaway and James Franco surprise choice for hosting Academy Awards

The European Commission has decided to probe Google Inc. after complaints by search service providers about unfavourable treatment of their services in Google's search results along with an alleged preferential placement of Google's own services.

Law firm WilmerHale has named Susan W. Murley and Robert T. Novick as co-managing partners for a three-year term effective from January 1, 2012.

Level 3 and Comcast are in a dispute over the transmission of video on the Internet, and the outcome could have large implications for companies that transmit video over broadband networks.

December is the season of giving, but quirks in the estate tax may prompt some wealthy seniors to be especially generous this year.

Shipments of PCs are up 14.3 percent from last year, but that's below expectations.

Home improvement chain Lowe's Cos reiterated its sales and profit outlook for its current fiscal 2010 fiscal year, and it said it would announce new strategies to serve what it called more exacting consumers.

Google has introduced its latest version of Google Earth, their interactive digital atlas.

Adult movie starring Sylvester Stallone was auctioned on e-bay for $412,000

The air above the Dead Sea contains very high levels of oxidized mercury, which are of major concern to humans, scientists say.

Technology research firm Gartner said personal computer sales worldwide were on track to set a new record in 2010 but Apple’s iPad is taking a bite out of the sector.

The new Spiderman reboot movie is going in for a supposedly new high-tech costume

The Volvo C70 has been converted into electric with a battery-electric powertrain by a Swedish company called Electroengine.

Unemployment in the euro area rose marginally in October for the first time in 6 months, according to a report by Eurostat, the statistical office of the European Union.