IBT Staff Reporter

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Fannie Mae, Freddie Mac face overhaul: official

Mortgage finance giants Fannie Mae and Freddie Mac will not exist in their current form after a revamp of the U.S. housing finance system, a top Obama administration official said on Tuesday.

Chrysler readies renamed, upgraded Sebring

Chrysler said on Tuesday it was set to unveil a renamed and upgraded version of its Sebring sedan as the automaker readies its first restyled vehicles since emerging from bankruptcy under the control of Fiat SpA.

Volvo Aug shipments surge as economies recover

World number two truck maker Volvo AB said on Wednesday deliveries of its trucks rose 62 percent year-on-year in August as global economic recovery boosted demand for commercial vehicles.

High radiation raises risk of second cancer: study

Atomic bomb blast victims lucky enough to survive one cancer have a high risk of developing a second, U.S. researchers said on Wednesday, in a study that offers new insights about cancer risks from radiation exposure.

Scientists see risks and benefits in nano foods

In a taste of things to come, food scientists say they have cooked up a way of using nanotechnology to make low-fat or fat-free foods just as appetizing and satisfying as their full-fat fellows.

Kylie Minogue Goes with Flow of Life

Australian pop star Kylie Minogue who is still undergoing medication for breasts cancer revealed that she still deals with side effects like nausea and headaches. She has also spoken of her love for sister Dannii's son.

Phoenix back in Late Show

Actor and hip hop wannabe Joaquin Phoenix is making a comeback to David Letterman's Late Show after his now infamous television interview last year. The interview will air on September 22, according to a broadcaster CBS statement.

Julia Roberts Gives Hubby All Credit for Success

Behind every successful woman, there is a man. Ask superstar Julia Roberts and she would swear by it. The actress all praises for her cameraman husband Daniel Moder in a recent interview has said that her husband is her Rock. He has been extremely supportive of her career throughout their marriage.

“Oprah” House to Opera House

Oprah Winfrey's generosity to her audience and staff members is not unknown. In the past she has given each audience a new car, I-pads and $10,000 checks to all her staff members.

Toyota readies electric car offensive

Toyota Motor Corp will offer a plug-in version of its Prius positioned to be the cheapest green car of its kind by 2012 and could have two electric cars in the U.S. market by that time, executives said on Monday.

Toyota plans 6 new hybrid models by end of 2012

Toyota Motor Corp plans to introduce six new hybrid vehicles by the end of 2012 and bring an electric vehicle to the U.S. market that year also, a top research and development executive said on Monday.

Geely may build as many as 3 Volvo plants in China

Zhejiang Geely Holding Group, which last month completed its purchase of Volvo from Ford Motor Co, may build as many as three plants in China to make the Swedish brand, a Geely spokesman said on Tuesday.

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