IBT Staff Reporter

Partly nationalized British lender Royal Bank of Scotland may cut more than 9,000 jobs in the next two years, or about 5 percent of its total workforce.

U2 frontman, Bono, revealed the band is planning an initiative with RIM, in spite of the band's former marketing ties to Rim rival, Apple.

Australia's government will build a A$43 billion ($31 billion) high-speed broadband network, leading a new private-public company, after rejecting bids by companies that it said failed to offer value for money.

Part-nationalized British lender Royal Bank of Scotland said it could shed up to 9,000 jobs over the next 2 years, including 4,500 in the UK, as part of a shake-up of its back-office operations.

Australia's government will build a A$43 billion ($31 billion) high-speed broadband network, leading a new private-public company, after rejecting bids by companies that it said failed to offer value for money.

The estimate of toxic debts on bank and insurance balance sheets originating from the U.S. is now $3.1 trillion from $2.2 trillion in October, the International Monetary Fund will likely say later this month, according to a report.

Stock futures pointed to a lower open on Tuesday on fresh worries over the amount of toxic assets on bank balance sheets and investors braced for what is expected to be another dismal earnings season.

Hedge fund manager Arie Assayag is leaving Societe Generale to set up his own independent hedge fund, the bank said on Tuesday.

The OECD said on Tuesday that the four countries on a tax haven blacklist, published as part of agreements at last week's G20 summit, have committed to meeting international standards and will be removed form the list.

Major U.S. retailers likely ended March with lackluster sales as consumers put off Easter and Spring purchases for April.

Major U.S. retailers likely ended March with lackluster sales as consumers put off Easter and Spring purchases for April.

Pier 1 Imports Inc reported a quarterly loss on Tuesday as markdowns ate into the home furnishings retailer's margins.

Stock futures pointed to a lower open on Tuesday after it was reported the International Monetary Fund was set to forecast toxic assets on the balance sheets of financial sheets could reach $4 trillion.

The Empire State Building is going

Toxic debts racked up by banks and insurers could spiral to $4 trillion, new forecasts from the International Monetary Fund are set to suggest, British daily The Times reported on its website without citing sources.

Arctic sea ice, a key component of Earth's natural thermostat, has thinned sharply in recent years with the northern polar ice cap shrinking steadily in surface area, government scientists said on Monday.

U.S. Secretary of State Hillary Clinton on Monday urged tighter controls on cruise ships and tourists in Antarctica to prevent further environmental damage to the fragile region.

Americans have grown more optimistic about the economy and the direction of the country since President Barack Obama took office in January, according to the latest New York Times/CBS News poll on Monday.

Bank of America's Merrill Lynch has recently closed the Tokyo office of Merrill Lynch Global Private Equity , a major international investment arm of the U.S. bank.

Oil fell toward $50 a barrel on Tuesday, paring early gains after European equities turned lower, as investors continued to track share movements to try and gauge the strength of the global economy.

European Central Bank Executive Board member Juergen Stark on Tuesday criticized the decision made at the G20 summit to boost the IMF's Special Drawing Rights as ill thought through and potentially inflationary.

Part-nationalized British lender Royal Bank of Scotland said the state's holding in the group will rise to 70.3 percent from 58 percent after its private sector investors largely shunned a sale of new shares.

World stocks turned lower and European currencies fell on Tuesday after data showed the euro zone economy shrank more than previously thought, fanning concerns about the impact on corporate profits from the economy.

A team of hedge funds managers at Societe Generale is leaving to set up their own hedge fund with capital from the French bank, La Tribune reported on Tuesday.

A quarter of the world's companies, and 40 percent in the United States, plan to freeze salaries this year, but employees in South America and India can look forward to robust rises, a global survey shows on Tuesday.

Australia's government will build a A$43 billion ($31 billion) high-speed broadband network, leading a new private-public company, after rejecting bids by companies that it said failed to offer value for money.

About half a dozen investment managers have put forward bids, ranging between $400 million to $800 million, for troubled insurer American International Group's asset management business, the Wall Street Journal reported, citing people familiar with the matter.

Asian stocks slid on Tuesday, snapping a five-day rally as concerns about the health of U.S. banks resurfaced, while expectations that Australian rates would not fall much further kept the Australian dollar steady.

U.S. stock index futures pointed to a lower open on Wall Street on Tuesday as investors braced for aluminum producer Alcoa's quarterly results that will kick-start a keenly awaited U.S. earnings season.