IBT Staff Reporter

Former U.S. Senator John Edwards is expected to admit he is the father of his former mistress' 18 month old daughter, the CBS affiliate WRAL reported yesterday citing anonymous sources.

CIT Group Inc , the cash-strapped corporate lender struggling to avoid bankruptcy, made an out-of-court settlement with small apparel maker Scherr Inc, which had sued to end its relationship with the company, the two parties confirmed on Friday.

Aspiring 11-year-old journalist, Damon Weaver, on Thursday interviewed President Barack Obama at the White House and asked questions ranging from education, nutrition and basketball to what it's like to be president.

JCPenney Company, Inc. Chairman and Chief Executive Officer Myron Ullman on Thursday continued to describe the consumer climate as being very difficult, in line with his previous statements that he expected consumer spending to remain weak for the remainder of 2009.

District 9, a movie filmed in a faux-documentary style, hit cinemas Thursday night and has been attracting great reviews from across the web.

General Motors and the German government played down hopes on Friday of a quick decision on the sale of the carmaker's Opel unit, and Berlin reiterated its support for Canadian bidder Magna .

Somalia's new security minister warned foreigners Friday not to visit the Horn of Africa nation without government approval after masked gunmen massacred seven Pakistani preachers at a mosque.

J.C. Penney Co Inc posted a smaller-than-expected net loss on Friday as it reined in costs, but the retailer indicated full-year profit might miss expectations, sending its shares down nearly 5 percent.

North Korea is willing to hold talks with Washington, a senior diplomat for the state said on Friday in the first such comments since former President Bill Clinton's visit to Pyongyang last week.

Michael Phelps, who holds the Olympic record with 14 gold medals for swimming, was involved in a traffic accident in Baltimore, Maryland, on Thursday night, but did not suffer any injury's, police said.

A hardline Iranian cleric urged the judiciary on Friday to resist Western pressure to free Western-linked detainees held after the country's disputed June presidential election, state radio said.

U.S. stocks fell more than 1 percent on Friday after a report showed consumer sentiment weakened, while Boeing Co , a Dow component, pressured the index after flaws halted work on parts of its long-delayed jetliner.

The European Commission expressed doubt on Friday over whether a merchant ship which has been missing for more than a week had fallen prey to pirates as the vessel's operator had suggested.

The first video of the moment of the collision between a helicopter and a small aircraft in New York City that killed nine people has emerged online on NBC.

Myanmar's reduced sentence for opposition leader Aung San Suu Kyi may be an indication the junta is becoming more sensitive to international pressure as it prepares a transition to civilian rule next year, analysts say.

When Congress returns September 8, lawmakers will continue work on an overhaul of the $2.5 trillion U.S. healthcare system. There are three different plans in the works, all containing changes that would be phased in over a number of years.

Two existing drugs used to treat osteoporosis may be effective in killing influenza viruses, including the new H1N1 swine flu and the H5N1 bird flu viruses, researchers in Hong Kong have found.

A study published last year suggested that bipolar disorder may be over diagnosed in people seeking mental health care. Now new findings shed light on which disorders many of these patients actually have.

Although seizures are more likely in people with Alzheimer disease (AD) than in the general population, they are not a common feature of AD, new research indicates.

President Barack Obama is taking his healthcare reform message out west this weekend with two more public meetings seeking to overcome vociferous opposition to the $1 trillion overhaul scheme.

The air controller who handled a small plane before it collided with a helicopter over New York's Hudson River was suspended for allegedly violating procedures, but aviation officials said on Thursday they did not believe his actions contributed to the accident.

Aging white adults appear to have a greater risk of developing the heart rhythm disorder atrial fibrillation than their black peers, new research suggests.

China South City, a Shenzhen-based integrated logistics and trade centre operator, plans to raise at least HK$4 billion ($513 million) in a revived plan for its Hong Kong IPO by the end of September, according to a source familiar with the deal.

Retired police officer Bob Ritz has health insurance that covers his medical and dental care in the United States.

Radiation detection provider Mirion Technologies Inc on Thursday became the latest private-equity backed company to file for an initial public offering, as more buyout firms try to unload some of their portfolio companies in the public markets.

Danish hearing aid and headset maker GN Store Nord reaffirmed its full-year sales and profit guidance on Friday after cost cuts helped it beat forecasts for second-quarter core earnings.

Ping An Insurance (Group) Co of China Ltd, the world's No. 2 life insurer by market value, posted a 34 percent jump in second-quarter earnings as China's stock market boom boosted investment returns.

As much of the most vocal debate over the U.S. health reform bill focuses on non-existent

The yen extended gains against the euro and the U.S. dollar after a report showed U.S. consumer prices were flat in July over June but fell over the past 12 months by the most since 1950.