IBT Staff Reporter

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Iran tensions add to global risk: ECB's Trichet

Tensions in Iran have added to risks facing the world economy and underline the need for strengthening the global financial system, European Central Bank President Jean-Claude Trichet said on Sunday.

Iran blames terrorists for clashes

Iranian authorities on Sunday blamed terrorists for clashes in which at least 10 people were killed and President Mahmoud Ahmadinejad told the West to stay out of unrest sparked by his disputed re-election.

ECB's Trichet says no room for more debt

There is no room for governments that have borrowed billions to fight the economic crisis to accumulate more debt, European Central Bank President Jean-Claude Trichet said on Sunday.

Mousavi calls for purge of lies

Opposition leader Mirhossein Mousavi said the Islamic Republic must be purged of what he called lies and dishonesty, sending out a direct challenge to conservative rulers after a day of unrest across Tehran.

Stanford indicted in massive U.S. fraud case

Texas billionaire Allen Stanford, three associates and a top Caribbean regulator were indicted on fraud, conspiracy and obstruction charges in an elaborate $7 billion pyramid scheme to bilk investors, U.S. Justice Department officials said on Friday.

Scientists detect mutated Swine Flu

Scientists in Brazil has identified the first genetic variant of the novel influenza A (H1N1) from a patient who was hospitalized in Sao Paulo in, according to Medical News Today’s report on June 17.

Hollywood studio Paramount axes top executives

Hollywood studio Paramount Pictures, which suffered the first big bomb of the summer last weekend with an Eddie Murphy comedy, has fired its top production executive after barely 18 months in the job.

Jobless pain continues in most states in May

Signs unemployment pains may be easing in individual U.S. states in April disappeared by May, when jobless rates jumped in 48 states and the District of Columbia, according to data released on Friday.

Hummer and China’s Tengzhong a good fit: GM

Negotiations are under way between General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery over the proposed purchase of Hummer, and the deal is a perfect fit according to GM’s CEO Jim Taylor.

Federal jury says music downloader owes $1.92 Mln

The Recording Industry Association of America (RIAA) could soon be $1.92 million richer after a federal jury Thursday ruled a Minnesota mother of four who downloaded 24 songs violated music copyrights.

Apple CEO received liver transplant: report

Apple Inc Chief Executive Steve Jobs underwent a liver transplant operation about two months ago and is expected to return to work by the end of June, The Wall Street Journal reported on Saturday.

Singapore Airlines CEO takes 20 pct pay cut

The CEO of Singapore Airlines, the world's biggest by market value, will take a 20 percent pay cut as the carrier looks to cut costs after seeing profits battered by weak travel demand and volatile oil prices.

Steve Jobs had liver transplant in Tennessee: Report

Steve Jobs, who has been on medical leave from Apple for the past six months, received a liver transplant in Tennessee two months ago but will still return to work at the end of June, according to a report Friday in the Wall Street Journal.

Assured Guaranty up after Ross backup funding ruled out

Shares of Assured Guaranty Ltd rose as much as 5 percent on heavy volumes Friday, a day after the bond insurer said it would not need backup funds from investor Wilbur Ross for a pending acquisition upon completion of its share offering.

Britain gives way on EU financial plan

A deal reached by European Union leaders broke a deadlock on bank supervision reform on Friday, overcoming British reservations, but leaving much detail still be worked out in practice.

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