IBT Staff Reporter

Turkey on Saturday said its efforts to find oil in the Black Sea for commercial purposes have failed. Accoriding to country's Energy Minister Taner Yildiz, official declaration about the drilling operations would be made next week.

NYSE Liffe announced that the daily volume in its Milling Wheat futures contract passed 70,000 contracts for the first time, on 5 August 2010. Milling Wheat futures reached a record of 74,729 contracts, surpassing the previous record of 50,165 contracts set on 22 July 2010. Total combined Milling Wheat futures and options daily volume set a new record of 86,841 contracts, surpassing the previous record of 64,959 contracts set on 22 July 2010. This is the fourth daily volume record in the Milling...

Gold prices closed higher for the week on the Comex Division of the New York Mercantile Exchange, hit a three week high in intraday, mainly on weak US employment report that hit the dollar. The most active gold contract for December delivery was up $6.0 , or 0.5 percent, to finish at $1,205.3 per ounce.

The top Republican on the House Financial Services Committee called on Friday for an investigation into charges that mortgage finance giant Fannie Mae pushed borrowers into a mortgage aid program so it could receive incentive payments from the U.S. government.

U.S. regulators seized Ravenswood Bank of Chicago on Friday, bringing the number of closures this year to 109 as the community bank sector continues to suffer under the weight of bad loans.

Hewlett-Packard Co CEO Mark Hurd resigned on Friday after an investigation found that he had falsified expense reports to conceal a close personal relationship with a female contractor.

The first of its kind in Australasia, a machine that checks for circulating tumor cells, called the CellSearch has been announced as a significant breakthrough in the treatment for advanced prostate cancer in Australian men.

Legendary island is best place for holiday and honeymoon in Asia.

Following adverse health reactions among children earlier this year due to the use of a flu vaccine manufactured by CSL Biotherapies, the Advisory Committee on Immunization Practices has told doctors to avoid using the vaccine.

Bank of America Corp projects that its losses from pending litigation could be as high as $1.4 billion, the company disclosed in its second-quarter report filed Friday with securities regulators.

Warren Buffett's Berkshire Hathaway Inc said on Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts.

Russia´s ban on grain exports caused a buying frenzy on global grain markets, driving prices up sharply under record high volumes.

Citigroup Inc raised its estimates and now expects to issue $18 billion to $21 billion in long-term debt in 2010, the company said in a regulatory filing on Friday.

Bank of America Corp projects that its losses from pending litigation could be as high as $1.4 billion, the company disclosed in its second-quarter report filed Friday with securities regulators.

JPMorgan Chase & Co expects a measure of its capital strength to fall slightly under the latest proposals from banking supervisors, according to a quarterly filing with regulators.

Hewlett-Packard Co said Chief Executive Mark Hurd has decided to resign following a sexual harassment investigation.

The Federal Reserve on Tuesday may send a clear signal it is prepared to print more money to support a faltering economic recovery if necessary.

New York Attorney General Andrew Cuomo sued Samsung Electronics Co Ltd and other makers of liquid display crystal screens used in computers, flat-screen televisions and mobile phones on Friday for allegedly fixing prices for a decade.

Hewlett-Packard Co Chief Executive Mark Hurd resigned suddenly on Friday following an investigation of sexual harassment, the world's top computer maker said, stunning investors and sending shares down 10 percent.

Hewlett-Packard Co Chief Executive Mark Hurd resigned suddenly on Friday following an investigation of sexual harassment, the world's top computer maker said, stunning investors and sending shares down 10 percent.

Republicans emboldened by a weak U.S. jobs report pressed their attack against the ruling Democrats on Friday, hoping to translate Americans' unhappiness with the economy into votes on November 2.

New York Attorney General Andrew Cuomo sued Samsung Electronics Co Ltd and other LCD screen makers on Friday for allegedly fixing prices for a decade, after some of them pleaded guilty to similar federal charges and paid over $890 million in fines.

Republicans emboldened by a weak U.S. jobs report pressed their attack against the ruling Democrats on Friday, hoping to translate Americans' unhappiness with the economy into votes on November 2.

Stocks fell on Friday after government data showed a larger-than-expected drop in July payrolls, giving investors a stark reminder the economic recovery remains slow.

The makers of the BlackBerry were looking into the possibility of using servers in Saudi Arabia on Friday to avert a threatened ban on its Messenger services by Saudi government, which wants access to its encrypted network, a source said on Friday.

U.S. private employers added fewer workers to their payrolls in July than expected and hiring in June was much weaker than had been thought, a big blow to an already feeble economic recovery.

American International Group Inc Chief Executive Robert Benmosche is hoping this is the beginning of the end for the insurer's massive taxpayer bailout.

Stocks ended lower on Friday after government data showed a much larger-than-expected drop in July payrolls, providing investors with a stark reminder the economic recovery remains slow.

Travellers flock to the Himalayan region of Ladakh in northern India - drive the Khardung La (the world's highest motorable road), go whitewater rafting or trekking and to take their travel photography to the next level.