IBT Staff Reporter

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Duke picks Convergys to support smart grid

Duke Energy Corp picked Convergys Corp to provide billing and customer management solutions in support of the utility's smart grid initiative for its four million electric and gas customers in five states, the companies said in a release Tuesday.

Deutsche Telekom U.S. action not imminent-sources

Deutsche Telekom has not taken a decision on any option that could change its position in the U.S. market and is not planning to do so in the immediate future, two sources familiar with the company said.

Bernanke says U.S. recession very likely over

Federal Reserve Chairman Ben Bernanke said on Tuesday that the worst U.S. recession since the Great Depression was probably over, but the recovery would be slow and take time to create new jobs.

BEA to buy stake in China Golden Eagle fund: sources

Bank of East Asia Ltd (BEA), Hong Kong's fifth-biggest lender, plans to buy a minority stake in Golden Eagle Asset Management Co, seeking to tap rising Chinese demand for wealth management services, two people familiar with the situation said on Tuesday.

MarkWest Liberty inks gas processing deals

MarkWest Liberty Midstream & Resources LLC said it has agreed with units of Chesapeake Energy Corp and Statoil Hydro ASA to process gas at its new Majorsville processing plant in West Virginia.

Biden back in Iraq to keep up pressure

U.S. Vice President Joe Biden arrived in Iraq on an unannounced visit on Tuesday to keep up U.S. pressure on Iraq's leaders to reach political compromises on thorny issues as U.S. combat troops prepare to go home.

Real estate stock funds top Lipper August rankings

Real estate equity funds dominated Lipper's ranking of top-performing funds in August, as expectations of an impending property market recovery prompted a rally in European property stocks. Of the top 20 UK-registered equity funds ranked by fund tracker Lipper, a unit of Thomson Reuters, 11 were real estate funds of which nine are invested in the UK or Europe.

U.S. envoy presses for deal on Israeli settlements

U.S. envoy George Mitchell and Israeli Prime Minister Benjamin Netanyahu ended more than two hours of talks Tuesday without any sign of a deal on a settlement freeze crucial to restarting Middle East peace talks.

Airline trade group forecasts deeper 2009 losses

The world's airlines are expected to post losses totaling $11 billion this year as weak passenger traffic and cargo demand pressure revenue, the International Air Transport Association said on Tuesday.

Wall Street flat after weak earnings, strong data

U.S. stocks were little changed on Tuesday after disappointing earnings from electronics retailer Best Buy and supermarket chain Kroger and stronger-than-expected retail sales and producer price data failed to move investors.

Senate healthcare bill still on track

Negotiators on the U.S. Senate Finance Committee worked to pare the costs and complete the details of a broad healthcare overhaul on Monday, with chairman Max Baucus saying he was still on track to produce a bill this week.

U.S. retail sales jump 2.7 percent in August

Sales at U.S. retailers rose at their fastest pace in three-and-half years in August as government-sponsored auto incentives buoyed demand for motor vehicles, according to data on Tuesday that also showed strong sales outside the auto sector.

UPS aircraft mechanics authorize strike

The 1,400 U.S. mechanics who maintain United Parcel Service Inc's worldwide fleet of 263 aircraft authorized a strike against the company, union officials said on Tuesday, though contract talks between the company and the workers will continue later this month.

Crisis sparks soul-searching at business schools

A year after the collapse of Lehman Brothers plunged the world into financial meltdown and jolted the foundations of capitalism, business students don't just want to learn how to maximize profit for shareholders and themselves.

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