IBT Staff Reporter

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Obama warns strains unless U.S., China balance growth

The United States sees China as a vital partner and competitor, but the two countries need to address economic imbalances or risk enormous strains on their relationship, President Barack Obama said on Monday.
Nov 10, 2009

WTO's Lamy says U.S. slowing Doha talks: report

The U.S. is slow in reaching a negotiating position in the Doha round trade liberalization talks, the World Trade Organisation's Director General said in an Italian business daily on Tuesday.
Nov 10, 2009

Geithner to Japan: spend more, export less

U.S. Treasury Secretary Timothy Geithner on Tuesday told his Japanese counterpart that a commitment by Tokyo to rely less on exports and more on domestic consumption to power growth will benefit the global economy.
Nov 10, 2009

Netanyahu upbeat about Washington talks with Obama

Israeli Prime Minister Benjamin Netanyahu concluded an unusually low-key U.S. visit on Tuesday voicing confidence that his White House talks would benefit Israel's security and peacemaking efforts.
Nov 10, 2009

Stocks dips as investors step back to assess rally

U.S. stocks slipped on Tuesday as investors paused to assess the rally that pushed the Dow industrials to a 13-month high in the previous session and drove the S&P 500 up for six straight days.
Nov 10, 2009

Fed's Yellen sees risks to U.S. recovery

The U.S. economic recovery still faces many hurdles, including a persistently weak labor market and strained household budgets, Janet Yellen, President of the Federal Reserve Bank of San Francisco, said on Tuesday.
Nov 10, 2009

Fed's Yellen says strength of recovery in question

The U.S. economic recovery still faces many hurdles, including a persistently weak labor market and strained household budgets, Janet Yellen, President of the Federal Reserve Bank of San Francisco, said on Tuesday.
Nov 10, 2009

Dodd proposes bold financial overhaul

The chairman of the U.S. Senate Banking Committee introduced a financial regulation reform bill on Tuesday that leaps beyond earlier proposals, calling for new government agencies on financial stability, bank supervision and financial consumer protection.
Nov 10, 2009

Japan's Softbank to launch Google phone in spring

Softbank Corp, Japan's No.3 wireless carrier, said it will add to its lineup its first phone using Google Inc's Android operating system in the spring, following similar launches by NTT DoCoMo and Verizon Wireless.
Nov 10, 2009

China's Alibaba profit hit as it bets on expansion

Alibaba.com, China's largest e-commerce company, reported its worst profit in three quarters after betting on acquisitions and product development to tap the region's early recovery from the global downturn.
Nov 10, 2009

Vodafone doubles cost cut target to 2 bln stg

Vodafone, the world's largest cellphone operator by revenue, has doubled its cost cutting target to 2 billion pounds ($3.33 billion) by 2012 to counter fierce competition in India and Europe.
Nov 10, 2009

Sen Dodd proposes financial stability agency

A government financial stability agency would be created under a draft financial regulation reform bill from U.S. Senate Banking Committee Chairman Christopher Dodd obtained by Reuters on Tuesday.
Nov 10, 2009

Harley-Davidson to launch MV Agusta sale next week

Harley-Davidson will name the investment bank to handle the sale of its Italian motorbike unit MV Agusta next week, launching the sale process for the Italian company, MV Agusta's Managing Director Enrico D'Onofrio said on Monday.
Nov 10, 2009

China Minsheng's US bank loss to have limited impact

China Minsheng Banking Corp, which is raising up to $4 billion through a public offering of shares in Hong Kong, said on Tuesday that its failed investment in U.S. lender UCBH Holdings Inc will have a limited impact on its business.
Nov 10, 2009

Venezuela slows Amazon Indian swine flu outbreak

A potentially devastating outbreak ofswine flu among the Yanomami Indians in Venezuela's Amazon rain forest appears to be contained for now after a rapid medical response in the remote zone.
Nov 10, 2009

EU objects to Sun-Oracle deal

The European Commission has objected to Oracle Corp's acquisition of computer maker Sun Microsystems Inc , throwing the $7 billion deal into question.
Nov 10, 2009

Five facts about interim Opel boss Reilly

General Motors named Nick Reilly, head of the U.S. carmaker's international operations, as interim head of its European business while it searches for a new chief executive for the Opel unit.
Nov 10, 2009

BofA CEO says history will vindicate recent deals

Bank of America Corp Chief Executive Officer Ken Lewis said on Tuesday that he expected history to show he was right when it came to controversial steps such as buying struggling brokerage Merrill Lynch & Co.
Nov 10, 2009

Senator proposes paid sick leave for swine flu

Americans infected by the H1N1 flu virus would be guaranteed paid sick leave under emergency legislation U.S. Senator Chris Dodd plans to unveil on Tuesday in response to the swine flu pandemic.
Nov 10, 2009

Rio Tinto says still keen to work with Chinalco

Rio Tinto Ltd/Plc, the world's second-largest iron ore miner, is still keen to work with China's state-owned Chinalco and both companies have held talks recently, Rio CEO Tom Albanese said on Tuesday.
Nov 10, 2009

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