IBT Staff Reporter

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Karzai in anti-graft speech defends convicted mayor

Afghan President Hamid Karzai used a keynote anti-corruption speech on Tuesday to defend the most senior of his officials to be convicted of graft in years, a move that could anger Western backers who demand more accountability.

Berlusconi attacker apologises for cowardly act

An Italian man who broke Silvio Berlusconi's nose and teeth by striking him with a souvenir model has apologised to the Italian prime minister for his cowardly and rash act, the attacker's lawyers said.

Wall St seen down as inflation fears creep

Wall Street was headed for a lower open on Tuesday as producer prices rose more than expected, igniting fears of inflationary pressures, and a gauge of manufacturing activity in New York state unexpectedly plunged in December.

UBS won't sue former bosses on subprime, U.S. tax

UBS AG will not sue its former bosses after risky bets on subprime mortgages and a strategy of helping U.S. clients dodge taxes by hiding money in secret accounts brought the Swiss bank to its knees.

Producer prices surge, factory activity slows

U.S. producer prices rose faster than expected in November, while a gauge of manufacturing in the New York state unexpectedly fell this month, creating a potential headache for the Federal Reserve.

VW poised to make full bid for MAN SE: report

Volkswagen is poised to expand its automotive empire by making a full takeover bid for German truckmaker MAN SE, a German newspaper reported on Tuesday, citing an unidentified company executive.

Wells to pay cash for Prudential stake in JV

Wells Fargo & Co said on Monday it would buy Prudential Financial Inc's minority stake in retail brokerage joint venture Wells Fargo Advisors for cash, instead of cash and stock as it planned earlier.

U.S. needs plan to tame debt soon: experts

The government must craft a plan next year to get its ballooning debt under control or face possible panic in financial markets, a bipartisan panel of budget experts said in a report on Monday.

Alzheimer's protein may be early risk factor

Imaging tests may be able to detect the early signs of Alzheimer's disease long before it begins to affect memory, a finding that may lead to earlier, more effective treatments, U.S. researchers said on Monday.

China exports seen helping green growth, climate

China can become a powerful force to help developing nations fight both climate change and poverty with low-cost exports of wind or solar technologies, the head of the U.N. Development Programme (UNDP) said.

Drug data mining ban unlikely in Senate health bill

A Democratic proposal to ban the collection of doctors' prescription records for marketing purposes is unlikely to be included as part of the Senate's overall health reform bill, a Senate staff member said on Monday.

Best Buy shares fall on tepid margin view

Top U.S. electronics chain Best Buy Co reported a higher-than-expected quarterly profit, but its shares fell after it said gross margins in the current holiday quarter would be lower than it had expected.

Americans may live longer and cost more: study

Americans may live significantly longer in the future than current U.S. government projections, and that could mean sharply higher costs than anticipated for Medicare and other programs, researchers reported on Monday.

Dalia, Tamar consortium to sign $1 bln natgas deal

A consortium drilling for natural gas off Israel's Mediterranean coast said on Tuesday it signed a non-binding, $1 billion deal to supply Dalia Power Energies Ltd with 200 billion cubic feet of gas over 17 years.

Teen survey shows drops in meth use, smoking

Methamphetamine use and smoking among U.S. teens has dropped significantly in recent years, but declines in marijuana use have stalled, according to an annual government survey released on Monday.

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