IBT Staff Reporter

134821-134850 (out of 154954)

OPEC sees oil demand falling

The Organization of the Petroleum Exporting Countries on Wednesday said its world demand in oil will continue to shrink in the current global economic recessions inline with its rising prices in oil demand and outputs cuts of 2.6 percent from the International Monetary Fund.

U.S. banking crisis may last until 2013: S&P

A day after saying big U.S. banks probably needed to raise only one-fourth the capital demanded by the government, Standard & Poor's said the nation's banking crisis has merely entered a new phase and might not end before 2013.

Craigslist to drop erotic services ads

Online classified site Craigslist will replace its erotic services ads with a new adult category following pressure by state authorities after the murder of a masseuse who advertised on the site.

U.S. regulators to seek OTC derivatives clearing: sources

The Obama administration plans to regulate sophisticated financial instruments linked to last year's market turmoil by requiring standardized over-the-counter derivatives to be cleared through central clearinghouses, two congressional staff workers told Reuters on Wednesday.

U.S. regulators propose OTC derivatives crackdown

The Obama administration moved on Wednesday to shed more light on the over-the-counter derivatives market, a once-booming shadow banking system that is now closely linked to the global credit crisis.

U.S. officials aim to force financial pay reforms

U.S. officials are looking at ways to force reforms in financial industry compensation practices to discourage excessive risk-taking, which is considered to have sown the seeds of the current credit crisis.

ADM sees U.S. ethanol blend rising by 2010

U.S. agricultural processor and ethanol producer Archer Daniels Midland Co said on Wednesday it expected the U.S. ethanol blend rate to rise to 12 percent by 2010, up from the current allowed maximum of 10 percent.

Obama opposes detainee abuse photo release

In a reversal, President Barack Obama objected on Wednesday to the release of dozens of photographs showing the abuse of terrorism suspects, fearing the pictures could trigger a backlash against U.S. troops.

GM, Chrysler to cut up to 3,000 dealers: sources

General Motors Corp and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday, three people briefed on the still developing plans said.

G7 to recover later this year, but a long haul

The world's richest nations will put recession behind them later this year, but when growth returns it will be sluggish, according to Reuters polls that pose a challenge to the vigorous rally in world stock markets.

U.S. retail sales slip, hurting recovery hopes

Sales at U.S. retailers fell for a second straight month in April as cash-strapped consumers held back on purchases, government data showed on Wednesday, denting hopes the economy would soon emerge from recession.

Hate goes viral on social network sites: group

Militants and hate groups increasingly use social networking sites such as Facebook, MySpace and YouTube as propaganda tools to recruit new members, according to a report by the Simon Wiesenthal Center.

Socialism Coming Back To Haunt U.S.

America is more than a country; it is the ideal of liberty. In economic terms, liberty translates into the entrepreneurial spirit of hard work, risk taking and self-reliance.

EU hands down record antitrust fine to Intel

EU regulators on Wednesday slapped a record 1.06 billion euro ($1.45 billion) fine on Intel Corp for antitrust violations and ordered it to halt illegal efforts to squeeze out arch-foe AMD.

Oil falls 1.4 percent as Wall Street drags

Oil prices dropped 1.4 percent on Wednesday as gloom on Wall Street outweighed the impact of a government report showing a surprise drop in U.S. crude and gasoline stockpiles.

U.S. Bancorp CEO: We could exit TARP in a few weeks

U.S. Bancorp Chief Executive Richard Davis said the bank expects in a few weeks to be eligible to repay a $6.6 billion taxpayer-funded infusion, becoming one of the first big lenders to exit the much-maligned Troubled Asset Relief Program.

Sri Lanka fighting intensifies, aid worker killed

Shelling killed a Red Cross worker inside Sri Lanka's war zone on Wednesday, the aid agency said, while troops and the Tamil Tigers battled in an intensifying fight to the finish of Asia's longest modern war.

No Steve Jobs at Apple’s WWDC this year

Apple on Wednesday said Steve Jobs would host its annual Worldwide Developers Conference (WWDC) but instead, the keynote will be hosted by senior vice president of Worldwide Product Marketing, Philip Schiller.

Pages