IBT Staff Reporter

Venezuela's President Hugo Chavez on Saturday ordered his ambassador back to Colombia a few days after withdrawing him amid a crisis over plans to increase the number of U.S. troops in the neighboring country.

President Barack Obama accused his critics on Saturday of resorting to outlandish rumors and misleading information aimed at derailing his efforts to overhaul the $2.5 trillion U.S. healthcare system.

Chief executives of General Motors and autoparts maker Magna made some progress in Friday talks on the sale of GM's Opel unit, but key barriers remain, Opel's top labor leader and board member said on Saturday.

Telecommunications providers will not have to give the government sensitive revenue and Internet speed data for a program to map broadband use in U.S. homes and bring high-speed Internet service to more people.

Wall Street's rally could persist next week as investors' conviction grows that the U.S. economy is on track for a recovery. But retailers' results, CPI and other consumer data could cast a pall if shoppers fail to show signs of life.

A European Union official will tell antitrust regulators they failed to consider potentially exculpatory evidence in a ruling against chip maker Intel Corp, according to a source who had seen a confidential report.

Bank of America Corp on Friday revealed that its U.S. operations lost money in the second quarter as the quality of consumer and commercial loans deteriorated.

A new bidder has emerged to buy the 137-year-old Boston Globe from New York Times Co, a person familiar with the matter said on Friday.

Braskem, Latin America's largest petrochemical company, plans to delay by as much as two years of investments worth $4.5 billion in Venezuela, the Valor Economico newspaper said, citing the company's vice president of international operations.

The Swedish government has received information on a possible pullout of investors backing a deal by luxury car maker Koenigsegg to buy Saab Automobile, and is making further checks, a government official said on Friday.

RHJ International SA, a Belgian investment firm, plans to sweeten its bid for General Motors Co's European unit to overcome German government opposition to its bid, The Wall Street Journal said on Friday.

China Mobile is reviving efforts to seek a listing in Shanghai after years of unsuccessful attempts, analysts and bankers said, sending the index heavyweight up as much as 4.3 percent intraday Friday.

BHP Billiton, the world's largest mining company, canceled plans to install a new president for the company's operations in China, the Beijing-based Beijing Times reported on Friday, the same day that the State Administration for Industry and Commerce (SAIC) announced heavy regulation over resident representative offices of foreign firms.

China's auto sales surpassed the United States' again in July, jumping 63.57% over a year earlier to 1.09 million units, the China Association of Automobile Manufacturers (CAAM) said on Friday.

Hong Kong's official foreign currency reserve assets has risen for five consecutive months to $218.1 billion in July, up $11.6 billion on June, the Monetary Authority said on Friday.

China Investment Corporation (CIC), the nation's sovereign wealth fund, reaped the benefits of investing cautiously during the global financial crisis after it reported a negative 2.1% return on its global portfolio for 2008, ChinaDaily reported on Friday.

General Motors Co plans to sell shares in an initial public offering before the one-year anniversary next July of its exit from bankruptcy, the carmaker said in a regulatory filing on Friday.

Bank of America Corp on Friday revealed that its U.S. operations lost money in the second quarter as the quality of consumer and commercial loans deteriorated.

U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October.

If the strong earnings trend keeps up next week, black will be back in style on the balance sheets of more of the nation's retailers.

The chief executive of bankrupt Nortel Networks Corp , Mike Zafirovski, plans to leave the company soon after leading it through four years of tumult, the Wall Street Journal reported on Friday, citing people familiar with the matter.

LOS ANGELES - An expected surge in smart-phone sales could bode well for the iTunes music store's belated entry into Latin America.

Warren Buffett's Berkshire Hathaway Inc posted its best quarter in nearly two years, as recovering stock markets boosted the value of its equity investments and derivatives bets.

The Large Hadron Collider, a giant particle collider and also the biggest and most complex machine the man has ever made, will restart in November at a lower energy level,CERN said.

Better-than-expected July jobs numbers have numerous private economists heralding the end of the recession, but the Obama administration is taking a more guarded view because of a worrisome rise in long-term unemployment and a drop in labor force participation.

AIG, the giant insurer bailed out by the U.S. government, posted its first profit in seven quarters on Friday, helped by large investment gains as financial markets improved, sending its shares up 20 percent.

The giant particle collider built to probe the origins of the universe will restart in November at a lower energy level following its shutdown days after its inauguration last year, CERN said on Thursday.

R&B stars Rihanna, Kanye West and Jay-Z will perform on the premiere of Jay Leno's comedy and chat show in September, in a apparent bid to grab hip, young viewers to NBC's new primetime experiment.

Sprawled on her bed in an Amsterdam hotel, Lady GaGa is channeling Lady Godiva-sans the horse.