IBT Staff Reporter

125371-125400 (out of 154953)

Nortel CEO planning to leave soon: report

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.

Daily Wrap Up for August 7 - Energy

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.

Cloud over US payrolls: job hunters take summer off

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 posts first profit since 2007; shares jump

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.

Big Bang collider to restart with less energy

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.

Mad Men still spellbinding

Even with all the loose ends left dangling in the finale last year, is there a Mad Men fan in God's creation that actually believes the show's Season 3 premiere on AMC Sunday is going to tie each and every one of them up in pretty bows?

Telescope can find oodles of Earths: NASA

The orbiting Kepler telescope has spotted a Jupiter-sized planet around another star -- a sighting that demonstrates it can see Earth-like planets if they are out there, scientists reported on Thursday.

G.I. Joe should be court-martialed

The latest action franchise seemingly designed to further spread the incidence of ADD among youth the world over, G.I. Joe: The Rise of Cobra plays like a sequel to a film that was never made.

Have flashes spawned front-running?

With so-called flash orders exploding into public view, investors are wondering if the rapid-fire dissemination of their investing intentions is costing them money.

Freddie Mac reports first profit in two years

Freddie Mac, the second largest provider of U.S. home mortgage funding, on Friday posted its first quarterly profit in two years as gains from hedges and a one-time accounting change offset still-lofty credit losses.

Daily Wrap Up - August 7 Tech

A prominent technology analyst predicted that Apple Inc. would release a tablet or mini-computer for sale early next year, and that it could boost the consumer electronics company's revenue by 3 percent in 2010. Gene Munster, a Piper Jaffray analyst said the tablet from Apple will look like an iPod Touch, but a bit larger.

China probes Internet bootcamp after teen dies

Chinese police are investigating a bootcamp for Internet addicts after a teenage boy died, apparently following a severe beating, just hours after checking in, the official Xinhua news agency said late on Wednesday.

Former Madoff CFO faces charges

Former Madoff chief financial officer, Frank DiPascali, will be charged by the U.S. for his participation in what is termed Wall Street's biggest investment fraud.

Daily Wrap Up August 7 – Finance

Mortgage financier on Friday reported its first quarterly profit in two years causing its shares to surge 26 percent in after hours trading. as higher interest income and gains on its hedges offset still-lofty credit losses. For the latest quarter, Freddie Mac reported a profit of $768 million compared with a year-earlier loss of $821 million. The results include $2.2 billion of securities write-downs that were more than offset by $4.2 billion in gains on the company's derivative portfolio.

Tax deal with UBS hits snag

Global Swiss bank UBS AG failed to settle U.S. charges of helping wealthy American customers dodge taxes, setting the stage for at least another five days of tense negotiations over a case that goes to the heart of Switzerland's famed bank secrecy laws.

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