IBT Staff Reporter

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Four geothermal companies plan merger

Four North American geothermal companies announced plans to merge on Wednesday and raise C$100 million ($90 million) to develop key projects to produce clean power.
Jul 15, 2009

Pamela Laverne Long has been located

Authorities say they've located a woman wanted for questioning in connection with the slaying of a Florida Panhandle couple during a break-in.
Jul 15, 2009

Obama bill demands hedge fund transparency: official

The Obama administration on Wednesday will send Congress legislation demanding that hedge fund managers submit to new registration and disclosure rules to boost transparency and limit any risks they pose to the financial system, a senior U.S. Treasury official said.
Jul 15, 2009

U.S. mulls temporary loan for CIT: source

U.S. officials are considering giving CIT Group Inc a temporary loan as part of an aid package to help the lender avoid collapse, a source familiar with regulators' thinking said on Tuesday.
Jul 15, 2009

Wall St surges on Intel results, data

U.S. stocks racked up strong gains on Wednesday, sparked by results from bellwether Intel Corp that lifted hopes for a rebound in technology spending and improved corporate profitability.
Jul 15, 2009

Doubt stayed Fed hand on more asset buying

The Federal Reserve held fire on additional asset purchases at its meeting last month because of doubts about how financial markets would react to more buying, documents on Wednesday showed.
Jul 15, 2009

AT&T in initial labor pact for Midwest

AT&T Inc has reached a tentative labor agreement with the Communications Workers of America covering 18,500 workers in the telecom service provider's Midwest region, the parties said on Wednesday.
Jul 15, 2009

Porsche showdown with VW looms next week

The end game in thorny merger talks between Porsche and Volkswagen looms on July 23 when the carmakers' supervisory boards meet separately in Porsche's home town of Stuttgart.
Jul 15, 2009

Sanofi says experts find Lantus studies flawed

Sanofi-Aventis said on Wednesday a group of independent experts had concluded that studies highlighting a possible link between its Lantus diabetes drug and an increased risk of cancer were flawed.
Jul 15, 2009

Wall St jumps as Intel, data boost sentiment

U.S. stocks racked up strong gains on Wednesday, sparked by results from bellwether Intel Corp that lifted hopes for a rebound in technology spending and improved corporate profitability.
Jul 15, 2009

Boeing job cuts hit missile defense, future combat

Boeing Co will trim staff on its missile defense program and future combat systems by about 1,000 -- about 1.4 percent -- because of U.S. Defense Department budget cuts, the company said on Wednesday.
Jul 15, 2009

Fugitive ex-CS trader arrested, faces new charges

A former Credit Suisse trader facing trial on charges of fraudulently selling $1 billion worth of mortgage-backed auction-rate securities, has been arrested after two months on the run, according to a court document made public on Wednesday.
Jul 15, 2009

Reaction to Democratic healthcare plan

House Democrats unveiled a 1,000-page proposal to overhaul the $2.5 trillion U.S. healthcare industry. The ground-breaking bill includes a government-paid insurance option that would compete with private insurers, and tax increases for the wealthy.
Jul 15, 2009

U.S. housing market bottom may be in sight: Fitch

The long-awaited bottoming of the U.S. housing market may be in sight, but a recovery could take as long as 18 months and will likely be muted, Fitch Ratings said in a report on Wednesday.
Jul 15, 2009

Website to publish sensitive hacked Twitter info

Popular technology news website TechCrunch plans to publish on Wednesday sensitive internal documents belonging to microblogging site Twitter, including financial projections, sent to them by an unidentified hacker.
Jul 15, 2009

Geithner says dollar to remain key reserve currency

U.S. Treasury Secretary Timothy Geithner said he was reassured during a Gulf visit that the dollar will remain the region's main reserve currency and said he wanted to find ways to reduce oil-price volatility.
Jul 15, 2009

Paulson says acted appropriately on BofA

Former U.S. Treasury Secretary Henry Paulson said that he acted appropriately in warning Bank of America Chief Executive Kenneth Lewis that top executives could be ousted if they walked away from a merger with Merrill Lynch.
Jul 15, 2009

Ex-Goldman analyst, others accused of inside trades

U.S. regulators on Wednesday filed civil charges for insider trading against 11 people, including a 26-year-old former Goldman Sachs Group Inc investment banking analyst accused of leaking confidential merger information to his brother.
Jul 15, 2009

Treasury devising aid for CIT: Rep. Frank

The U.S. Treasury Department wants to find a responsible way to provide government aid to troubled lender CIT Group Inc, Representative Barney Frank said on Wednesday.
Jul 15, 2009

Cisco, Juniper jump on ratings, upbeat tech results

Shares of network equipment makers Cisco Systems Inc and Juniper Networks Inc jumped on Wednesday, helped by buy ratings by Citigroup as well as solid results from smaller rival Adtran and chipmaker Intel Corp .
Jul 15, 2009

Microsoft's Bing gains on Yahoo, Google

Microsoft Corp's market share of the U.S. Internet search market increased modestly in June, the first month that it fielded its new Bing search engine, according to the latest data from research firm ComScore.
Jul 15, 2009

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