IBT Staff Reporter

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Cellcom Q2 profit up boosted by value-added services

Telephone operator Cellcom Israel Ltd said it posted a forecast-beating rise in second-quarter net profit as an increase in content and value-added services offset a decline in roaming revenue from tourism.
Aug 17, 2009

Global recovery concerns sink Wall Street

Stocks fell broadly on Monday as ongoing concerns about the speed of a global economic recovery were compounded by data from Japan, which showed that while the world's No.2 economy returned to growth, the recovery may be shaky.
Aug 17, 2009

North Korea reopens to South as economy weakens

North Korea said on Monday it would reopen its border with the South, ending a self-imposed 9-month blockade on a vital source of cash for its leaders as their ravaged economy is squeezed by tightening U.N. sanctions.
Aug 17, 2009

Obama to seek to rally support for Afghan war effort

President Barack Obama will seek to shore up U.S. public support for the war in Afghanistan on Monday just days before an Afghan presidential election widely seen as a major test of his revamped strategy.
Aug 17, 2009

RWE bids for stake in Polish utility ENEA: report

German utility RWE has submitted a bid for a 67 percent stake in Polish peer Enea, German paper Financial Times Deutschland reported, citing unidentified people in the financial industry.
Aug 17, 2009

Oil hits lowest this month on recovery jitters

Oil slipped toward $65 a barrel, its lowest this month, on Monday as investors became more cautious about the pace of global economic recovery and any revival in energy demand.
Aug 17, 2009

Down under, UBS stealing deals thunder

The Australian unit of Swiss bank UBS AG thriving, even as its parent struggles in the global financial crisis, and has earned a reputation for snatching deals from rivals and making a success of them.
Aug 17, 2009

As CISA moves aside, China iron ore talk angst may ease

Despite unveiling a face-saving iron ore deal with Australia's Fortescue Metals Group on Monday, China's embattled steel industry body CISA seems to be ceding its grip on the levers of China's iron ore pricing talks.
Aug 17, 2009

U.S. videogame sales down 29 percent in July

U.S. videogame equipment and software sales fell 29 percent in July to $848.9 million, research group NPD said on Thursday, as the gaming industry limps through the economic downturn.
Aug 17, 2009

China's CIC to buy U.S. mortgages: sources

China's $200 billion sovereign wealth fund, which made big paper losses on stakes in Morgan Stanley and Blackstone, is set to invest up to $2 billion in U.S. mortgages as it eyes a property market recovery, two people with direct knowledge of the matter said on Monday.
Aug 17, 2009

TomTom iPhone App Review Video

TomTom's much anticipated turn by turn app for the iPhone was released on Monday on iTunes for $99. The app uses the iPhone's built-in GPS chip to provide users with real-time navigation directions
Aug 17, 2009

Daily Outlook - August 17 - Energy

Crude oil futures declined to their lowest level in the entire month to below $66 per barrel on Monday on concerns over the economic recovery. Crude was trading down $1.42 at $66.09 per barrel in the New York Mercantile Exchange ahead of the opening of the market by 8:39 a.m. today.
Aug 17, 2009

Stock futures point lower as Japan data weighs

Stock index futures pointed to a steep fall at the open on Monday as global equities sold off after data from Japan showed that while the world's No. 2 economy returned to growth, a recovery may be shaky.
Aug 17, 2009

Time no barrier as Cropredy Fest rocks on and on

Simon Nicol, the last original member of folk rock band Fairport Convention, admits he's not into numbers, which may be why no one is quite sure what milestone just passed in this rural English village.
Aug 17, 2009

Multi-pronged career keeps guitarist Haynes busy

Singer/songwriter/guitarist Warren Haynes is rock 'n' roll's consummate jam band professional -- and these days, that isn't a contradiction in terms. A maverick on both the business and creative sides of his career, he handles duties as an integral player in the Allman Brothers Band and the Grateful Dead, as well as with his own hard-touring outfit, Gov't Mule, and occasionally finds time to engag...
Aug 17, 2009

Wall Street slightly pares losses after data

Stock futures slightly trimmed losses but still pointed to a steep drop at the open on Monday after a regional gauge of manufacturing suggested growth was returning to the sector.
Aug 17, 2009

Struggling Sony Ericsson taps new head

Sony Ericsson on Monday entrusted the head of Ericsson's U.S. technology division with the task of leading the struggling cellphone maker back to profit and reversing a sharp decline in market share.
Aug 17, 2009

Weinstein Co in dire need of a hit: NY Times

The Weinstein Co, founded by the two brothers behind some of the most iconic films of the past 20 years, are under pressure for one of their next movies to be a blockbuster, The New York Times reported on Sunday.
Aug 17, 2009

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