IBT Staff Reporter

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Russia nears finding 'Kolchak's gold'

Attempts to rediscover Russia's lost treasure, the 'Tsarist gold' or 'Kolchak's gold', finally received a morale boost with positive signs from the Baikal exploration. According to Russian authorities, country's Mir-2 mini-sub has found a number of shiny metal objects on the bottom of Lake Baikal that could be the legendary Tsarist gold lost during the Russian civil war.

CFTC issues final forex exchange market rule

The U.S. futures regulator issued a final rule late Monday for the retail foreign exchange market, which included relaxing an earlier proposal that would slash leverage available to investors participating in these transactions.

Global stocks fall, yen climbs on U.S. recovery fears

Fears that policymakers around the world will be slow to support the flagging global recovery lifted the yen on Tuesday, weighed on Asian and European stocks and gave further fuel to a five-month rally in U.S. and Japanese government bonds.

Rescuers start to drill escape shaft in Chile

Resigned to watching his child's imminent birth on video, trapped miner Ariel Ticona waited as rescuers started drilling an escape shaft on Monday to save him and 32 companions 25 days after a cave-in.

Taiwan regulator rejects AIG unit sale

Taiwan regulators rejected AIG's planned $2.2 billion sale of its Taiwan unit to a China-related group, citing regulations on mainland investment, and leaving the insurer facing another auction.

Intel buys Infineon unit and expands wireless offer

U.S. chipmaker Intel Corp unveiled a deal on Monday to buy German chipmaker Infineon Technologies AG's wireless unit for $1.4 billion (905 million pounds), as it claws its way into the booming smartphone market and cuts its reliance on personal computers.

Consumer confidence improves in August

British consumer confidence unexpectedly improved in August for the first time since February thanks to a more positive view on the economic outlook, a survey showed on Tuesday.

U.S. ends combat in Iraq but instability lingers

The U.S. military formally ends combat operations in Iraq on Tuesday as President Barack Obama seeks to fulfil a promise to end the war despite persistent instability and attacks that kill dozens at a time.

U.S. consumer spending gain strongest in 4 months

U.S. consumer spending rose in July at the strongest pace in four months, supported by a small gain in incomes that offered hope that consumers will be able to keep contributing to a modest economic recovery.

Genzyme rejects Sanofi offer as long battle looms

U.S. biotech company Genzyme Inc rejected an $18.5 billion (11.9 billion pound) buyout offer from French drugmaker Sanofi-Aventis SA on Monday, setting the stage for a protracted and potentially hostile takeover battle.

BlackBerry maker wins reprieve on India shutdown

Research In Motion will give India access to secure BlackBerry data beginning September 1, a government source said on Monday, leading New Delhi to put off a decision on whether to shut down the smartphone.

Obama widens sanctions on North Korea

U.S. President Barack Obama broadened U.S. financial sanctions on North Korea on Monday and froze the U.S. assets of four North Korean citizens and eight firms in part to punish it for the sinking of a South Korean warship.

Burkle says no plans to control Barnes & Noble

Billionaire investor Ron Burkle's investment firm said it has no intention of taking control of Barnes & Noble as it fired a new shot in its proxy battle against the top U.S. bookstore chain.

Is genetically altered fish OK? U.S. to decide

U.S. health officials are set to rule on whether a faster-growing, genetically engineered fish is safe to eat in a decision that could deliver the first altered animal food to consumers' dinner plates.

3M to pay $943 million for biometric systems maker

Diversified U.S. manufacturer 3M Co said it would buy Cogent Inc for $943 million, paying a nearly 18 percent premium for the maker of identification systems used to screen travelers at border crossings.

U.S. egg producers failed to follow own safety plans

Two Iowa egg farms linked to a salmonella outbreak that has sickened thousands failed to follow their own safety plans, allowing rodents and other animals into poultry houses, U.S. Food and Drug Administration inspectors found.

Scientist devises faster test for detecting E.coli

A Purdue University food scientist using infrared spectroscopy took only an hour to find harmful E. coli bacteria in ground beef, a discovery that could cut days off investigations of outbreaks, the university said in a statement on Monday.

Blacks more prone to blood clots after stents

Blacks treated with a drug-coated stent to open clogged heart arteries are nearly three times more likely to develop a life-threatening blood clot than whites, U.S. researchers said on Monday.

Weather delays retrieval of BP blowout preventer

BP Plc delayed retrieval of the failed blowout preventer atop its ruptured Gulf of Mexico oil well this week because of bad weather, the top U.S. official overseeing the oil spill said on Monday.

Medvedev tells Russia governors to please people

President Dmitry Medvedev warned Russia's Kremlin-appointed regional governors on Monday that he is closely watching their approval ratings and hinted they won't last long in the job if they cannot keep people happy.

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