IBT Staff Reporter

A bulked-up Canadian Hydro Developers Inc said on Friday it is big enough to pursue large renewable power projects on its own and has no need for an inadequate takeover bid from TransAlta Corp.

SNC-Lavalin Group Inc said on Friday it has bought a 48 percent stake in a Russian engineering company, a deal the Canadian company hopes will help it become a leader in that country's oil and gas market.

Allied Nevada Gold Corp said it would raise about C$100.4 million ($92.45 million) by selling 11.2 million common shares to a syndicate of underwriters co-led by GMP Securities LP and Genuity Capital Markets.

Private equity firm Blackstone Group LP plans to launch a 5-billion-yuan ($732 million) fund that will primarily invest in the city of Shanghai, the city said in a statement on Friday.

Blackstone's chief executive officer, Stephen Schwarzman, tops the list of top 10 highest-paid executives in the U.S. last year with a staggering package of $702 million according to reports from the Corporate Library.

U.S. President Barack Obama, pushing for healthcare reform during a trip to conservative Montana, said on Friday the country was held hostage by insurance companies that deny coverage to sick people.

A landmark settlement that will spare UBS a lengthy and damaging U.S. tax trial is set to be signed next week and will involve the disclosure of the biggest holders of secret Swiss accounts.

U.S. consumers' gloom deepened in early August as worry about scarce jobs and falling income overshadowed positive news that industrial output in July grew for the first time in nine months.

Eunice Shriver Kennedy's funeral service took place on Friday August 14 at Saint Francis Xavier Catholic Church in Hyannis, Massachusetts.

Allied Irish Banks received an approach from a third party for a minority stake, it said on Friday, in what could indicate scope for recovery among Irish banks which have been pummeled by the credit crisis.

U.S. stocks fell broadly on Friday, as the major indexes snapped a four-week streak of gains after weak consumer sentiment data fueled concerns about the strength of an economic recovery.

Investors lured by healthier stock markets and private equity firms eager to unload stakes in their portfolio companies are setting the stage for the return of billion-dollar-sized initial public offerings to the United States.

An idea described by Leonardo Da Vinci for mechanical lion is turned into reality by a French museum dedicated to the Italian artist.

BB&T Corp. and the Federal Deposit Insurance Corp. have reached an agreement to take over Colonial BancGroup in Alabama the Wall Street Journal and Bloomberg reported citing anonymous sources.

A mechanical lion invented by Leonardo da Vinci to entertain the King of France has sprung back to life in the Renaissance genius's last home.

U.S. Southeast regional bank BB&T Corp will buy deposits and branches of Colonial BancGroup Inc following a move by regulators to take the struggling lender into receivership, media reports said, citing people familiar with the matter.

NASA's television program, showing how the space agency makes contributions to everyday life, has been downloaded more than one million times.

Kseniya Simonova is a Ukrainian artist who was crowned as the winner of the show, uses a giant light box, dramatic music, imagination and

A former Credit Suisse Group AG broker used bait-and-switch tactics in fraudulently steering corporate clients into risky mortgage investments they did not want, federal prosecutors said on Friday.

President Barack Obama was interviewed on Thursday night at the White House by an 11-year-old journalist from Florida.

English actress Carey Mulligan will play Gordon Gekko's daughter in

Student Damon Weaver gives U.S. President Barack Obama a hard time over education, school meals and bullying.

Oil prices posted their biggest loss in more than two weeks on Friday after a report showing weak U.S. consumer confidence darkened the economic outlook and tanked stocks on Wall Street.

Pop diva Madonna may have upset some Catholic Poles by timing her debut Polish concert to coincide with a big religious holiday on Saturday, but she is sure of a warm welcome if she visits the tiny village of Rumin.

Search market leader Google Inc holds greater loyalty among its users, who conduct more searches a month than those on Yahoo! and Microsoft, new data issued on Friday showed, posing a challenge for the new team of rivals to Google.

Floating, cocktail drink in hand, in the pool of a five-star hotel in Cuba, Alexis basks in a holiday experience that for years was out of reach for him in his own homeland.

The Obama administration is proposing to fund the enhanced policing of financial firms by levying fees on the largest banks, while sparing community banks from increased costs, a Treasury official said on Friday.

U.S. stocks fell broadly on Friday, with major indexes dropping more than 1 percent as weak consumer sentiment data fueled concerns about the strength of an economic recovery.

The Federal Deposit Insurance Corp is taking Colonial BancGroup Inc into receivership and will sell the struggling lender's branches and deposits to BB&T Corp , Dow Jones said, citing a person familiar with the situation.