IBT Staff Reporter

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Obama says many months before U.S. exits recession

President Barack Obama warned on Saturday it would take many more months for the United States to get out of recession even after GDP figures showed the economy shrank only modestly in the second quarter.
Aug 01, 2009

Download final rules for cash for clunkers program

The U.S. Department of Transportation has released this week the final rules setting forth requirements and procedures for the Cash for Clunkers program under the Consumer Assistance to Recycle and Save Act of 2009.
Aug 01, 2009

HSBC's Maldonado blends science with art

HSBC's Bill Maldonado is a man who loves to mix science with art -- be that in running Halbis's hedge fund business, riding his high-power Ducati motorbike on a race track or piloting a light aircraft.
Aug 01, 2009

Portfolio co IPOs likely on horizon for KKR

Private equity firm Kohlberg Kravis Roberts & Co is preparing for an initial public offering for discount retailer Dollar General, a source said, and others are speculated to follow as it looks to take advantage of a recent rise in equity markets.
Aug 01, 2009

Las Vegas Sands targets $400 million bond sale

Las Vegas Sands, the world's largest casino firm, is seeking $400 million in short-term funding to help boost cash and restart construction of its stalled resort in Macau, local media reported on Saturday.
Aug 01, 2009

German car industry says slump bottoms out

The downturn in the German car industry has bottomed out but it will take time before sales recover to the levels of recent years, the president of Germany's car industry association (VDA) said on Saturday.
Aug 01, 2009

Workers to strike at S.African phone group Telkom

South Africa's Communications Workers Union said scores of its members will strike for two days next week, in the latest industrial action to hit the country and pile pressure on President Jacob Zuma.
Aug 01, 2009

KIPCO's Q2 profit drops 56.5 pct, provisions weigh

Kuwait Projects Co, the country's biggest investment company by assets, posted a second-quarter net profit decline of 56.5 percent, but said it was confident about progress for the rest of 2009.
Aug 01, 2009

Obama: Recovery won't come until jobs bounce back

While the latest report about the overall state of the economy shows the U.S. is doing better than expected, President Barack Obama said the real recovery will come when the number of jobless stops dropping.
Aug 01, 2009

German state eyes control in VW-Porsche: report

The German state of Lower Saxony sees growing chances to wrest control in the merger of carmakers VW and Porsche from the Porsche and Piech families, a German magazine reported on Saturday.
Aug 01, 2009

Afghan poll workers ambushed; U.S. soldiers killed

A convoy of campaign workers for Afghan President Hamid Karzai was ambushed five times on Saturday, officials said, as Taliban insurgents step up efforts to disrupt the presidential election.
Aug 01, 2009

Honduras leader firm against world pressure

Honduras' de facto leader vowed on Friday that no country will push the small Central American nation around and pledged to resist international pressure to reinstate toppled President Manuel Zelaya.
Aug 01, 2009

Cory Aquino, Philippine people power heroine, dies

Corazon Aquino of the Philippines, who ousted one of the 20th Century's most corrupt dictators to become a global icon of democracy, died on Saturday after a 16-month battle against colon cancer. She was 76.
Aug 01, 2009

Iran tries 100 moderates over election unrest

The trials began on Saturday of 100 prominent moderates arrested shortly after Iran's disputed June presidential election and charged with trying to overthrow the clerical establishment, Iranian media reported.
Aug 01, 2009

KKR portfolio companies' IPOs likely on horizon

Private equity firm Kohlberg Kravis Roberts & Co is preparing for an initial public offering for discount retailer Dollar General, a source said, and others are speculated to follow as it looks to take advantage of a recent rise in equity markets.
Aug 01, 2009

S&P eyes 1,000 but could be ripe for retreat

Wall Street may have momentum on its side next week as the S&P 500 tries to puncture the 1,000 level, but the rally's staying power will depend on whether U.S. data and corporate earnings provide more signs of economic stabilization.
Jul 31, 2009

Amazon.com sued over deleted digital book copies

Amazon.com ate my homework.That's a legitimate excuse for one high-school student whose notes for a homework assignment vanished when the online retailer remotely deleted digital copies of George Orwell's 1984, off consumers' Kindle devices.
Jul 31, 2009

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