IBT Staff Reporter

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Bernanke warns on export-led growth in Asia

U.S. Federal Reserve Chairman Ben Bernanke warned on Monday that pursuit of export-led growth by Asian nations could lead to a reemergence of global trade imbalances and undercut efforts to achieve more durable growth.

Bernanke cautions on risks from imbalances

U.S. Federal Reserve Chairman Ben Bernanke warned on Monday that Asian policies promoting exports could lead to a reemergence of imbalances in trade and capital flows, which some believe helped fuel the U.S. housing bubble.

Gannett quarterly profit and ad revenue sink

Gannett Co Inc, the largest U.S. newspaper publisher, reported a lower quarterly profit that beat market forecasts on Monday because of cost cuts, while revenue fell because of a 28 percent drop in publishing advertising sales.

Wall St rises on earnings optimism

U.S. stocks rose on Monday, buoyed by investor optimism over the strength of earnings season at the beginning of a busy week for corporate results.

Drug feud shooting kills 8 in Puerto Rico

Hu shuli, the chief editor of Caijing, Chinese most influential magazine, may resign to launch a new venture after journal's Daphne Wu Chuanhui and nearly 70 employees, or more than two-thirds of the business department, had resigned.

Thai king's condition good, no fever: palace

Thai King Bhumibol Adulyadej's condition is good and he no longer has fever, the palace said on Monday, 30 days after he was admitted to hospital suffering from fever and fatigue.

Media Corp surges as Google lifts search penalty

UK Internet advertising firm Media Corp said Google Inc had lifted a penalty that hurt its rankings in Internet search results, adding the move could boost its 2010 pretax profit by 1 million pounds ($1.6 million).

Gannett quarterly profit, ad revenue sink

Gannett Co Inc, the largest U.S. newspaper publisher, reported a lower quarterly profit on Monday and revenue fell because of a 28 percent drop in publishing advertising sales.

Darfur kidnap victims endured mock assassinations

Two Darfur aid workers held captive on a harsh mountaintop on the remote Sudan-Chad border for 107 days said they felt anger at mock assassinations by their captors but clung to the hope they would be released.

Buying cheap goods may support human trafficking

Why is that tomato so cheap?Campaigners are telling shoppers to find out where the food and goods they buy come from to avoid unwittingly supporting a modern form of slave labor with their purchases.

Evergrande targets $769 mln HK IPO, way below '08 plans

Chinese property developer Evergrande Real Estate Group Limited plans to raise up to $769 million in a Hong Kong initial public offering, according to a term sheet obtained by Reuters on Monday, 63 percent below its attempted goal last year.

Aviva sees $1.79 billion windfall from Delta IPO

British insurer Aviva said it expected to pocket 1.2 billion euros ($1.79 billion) from the partial stock market flotation of Dutch subsidiary Delta Lloyd, financing growth opportunities including possible acquisitions.

Icahn says offered $6 billion loan to CIT

Famed corporate raider Carl Icahn said he offered to underwrite a $6 billion loan to CIT Group Inc and complained that horse-trading between the troubled lender and its largest creditors was harming other bondholders.

GVT says Vivendi gets OK to make a bid

The board of French media conglomerate Vivendi has given the green light to proceed with an offer for GVT, the Brazilian telecommunications company said on Monday.

China to move residents, keep lead smelters going

China plans to move 15,000 residents in its biggest lead smelting area away from the plants in order to allow them to keep operating, after tests showed over 1,000 children had excessive lead in their blood.

Sprint to buy IPCS and suspend litigation

Sprint Nextel Corp plans to buy wireless affiliate iPCS Inc for about $426 million excluding debt, and the two companies have agreed suspend all litigation between them.

Obama unveils new Sudan strategy

U.S. President Barack Obama on Monday unveiled a new strategy toward Sudan, offering incentives if the Khartoum government worked toward peace, but said it faced tougher steps if it failed to act.

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