IBT Staff Reporter

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United Tech to buy GE security arm for $1.82 billion

Diversified U.S. manufacturer United Technologies Corp said it will buy General Electric's security business for $1.82 billion in a move to expand the presence of the world's top maker of elevators and air conditioners in a fast-growing North American sector.

BBI Infrastructure: strong vote for Brookfield plan

Babcock & Brown Infrastructure shareholders have voted so far are strongly in favor of a $1.6 billion recapitalization plan backed by Canada's Brookfield group, BBI's chief financial officer said on Thursday.

North Korea warns South it will pay for clash

North Korea said the South will pay an expensive price for firing at Pyongyang's retreating patrol boat on Tuesday, keeping up its saber rattling two days after a naval gunfight raised tension between the rivals.

Clinton: U.S. concerned about Afghan corruption

The United States is concerned about corruption and poor governance in Afghanistan and has raised those issues with the administration of President Hamid Karzai, Secretary of State Hillary Clinton said on Thursday

Stocks mixed after Wal-Mart forecast; Nasdaq up

The Dow and the S&P 500 indexes were flat to slightly lower on Thursday, threatening to snap a six-session rally for the Dow, after a Wal-Mart Stores Inc forecast sparked concerns about consumer spending.

BA, Iberia merger deal imminent

A merger between British Airways and Spain's Iberia looked imminent on Thursday as their boards held separate meetings to discuss a deal to create the world's third-largest airline by revenue.

Pay czar open to lateral pay offers

The Obama administration's pay czar said on Thursday his compensation rulings will allow General Motors Co and Chrysler Group to retain talent but is willing to consider lateral offers to hire new executives.

Japan to reassure U.S. on alliance at summit

Japan will reassure the United States that their alliance is in good shape, Tokyo said on Thursday, as a feud over a Marine base strains relations ahead of a visit by President Barack Obama.

Cell phone market fall ended in Q3: Gartner

The fall in the handset market stopped in the third quarter, helped by clearing of inventories of unsold phones and booming sales on the so-called grey market in countries like China, research firm Gartner said on Thursday.

Taylor Swift makes history at Country Music Awards

Teenage singing sensation Taylor Swift claimed a piece of music history on Wednesday when she became the youngest artist ever to win the coveted title of Entertainer of the Year at the Country Music Awards.

Mike Tyson arrested after L.A. airport scuffle

Former heavyweight boxing champion Mike Tyson was arrested on Wednesday after brawling with a celebrity photographer at Los Angeles International Airport and injuring the man's head, police said.

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