IBT Staff Reporter

American International Group Inc is close to a deal with the U.S. government that would ease the terms of its bailout, provide a further equity commitment and help it pay down debt, a person familiar with the matter said on Saturday.

American International Group Inc is close to a deal with the U.S. government that would ease the terms of its bailout, provide a further equity commitment and help it pay down debt, a person familiar with the matter said on Saturday.

American International Group Inc is close to a deal with the U.S. government that would ease the terms of its bailout, provide a further equity commitment and help it pay down debt, a person familiar with the matter said on Saturday.

Despite an often serious tone in his annual letter, billionaire investor Warren Buffett had a few light comments in his annual letter to investors this year.

Volkswagen, Europe's biggest carmaker, will not renew the contracts of all its 16,500 temporary workers this year in response to the brutal knock-down effects of the economic downturn on the car industry, Chief Executive Martin Winterkorn said.

American International Group Inc is close to a deal with the U.S. government that would ease the terms of its bailout, give a further equity commitment and help it pay down debt, a person familiar with the matter said on Saturday.

Israel's right-wing Prime Minister-designate Benjamin Netanyahu has abandoned efforts to woo centrist Tzipi Livni into forming a broad coalition government, a spokeswoman said on Saturday.

British banking giant HSBC will try to raise $18 billion to quell investor concerns as a worsening global economy punished famed investor Warren Buffet's Berkshire Hathaway with a 96 percent plunge in profits.

British banking giant HSBC will try to raise $18 billion to quell investor concerns as a worsening global economy punished famed investor Warren Buffet's Berkshire Hathaway with a 96 percent plunge in profits.

Verizon Wireless and LG Electronics unwrap the LG Versa that features a three-inch touch screen and attachable QWERTY keypad this coming month.

Intel and TSMC to unveil a strategic tie-up on March 2, driving the world's largest chip maker might begin to outsource crucial manufacturing.

Investors burned by the recent boom and bust in the U.S. ethanol industry will be wary of pouring money into plants for the next generation of biofuels without more stable returns, a J.P. Morgan analyst said on Friday.

California Governor Arnold Schwarzenegger on Friday declared a state emergency due to drought and said he would consider mandatory water rationing in the face of nearly $3 billion in economic losses from below-normal rainfall this year.

A bill introduced Friday by U.S. Senator Lisa Murkowski of Alaska would permit oil production in the ecologically sensitive Arctic National Wildlife Refuge, but only from directional wells that are drilled outside the refuge's borders.

Leaders of Southeast Asian nations have agreed to ease monetary policy and resist protectionism as they fight the financial crisis that is hurting their export-dependent economies, a draft statement showed.

German Chancellor Angela Merkel said on Saturday a decision on state aid for Opel, a struggling unit of U.S. carmaker General Motors , depended on the firm's long-term outlook and on the readiness of banks to help.

President Barack Obama's 2010 budget plan includes $18.7 billion for NASA, an increase of $1 billion over last year, but will retire the nations respected space shuttle program.

Britain's HSBC is set to announce a share sale of up to $18 billion, two sources familiar with the situation said on Saturday, in what could become the country's biggest-ever rights issue.

British Prime Minister Gordon Brown called for more rigorous supervision of the global banking system on Saturday, a day before EU leaders meet to thrash out ways to tackle the financial crisis.

Berkshire Hathaway Inc, Warren Buffett's insurance and investment company, barely broke even in the fourth quarter because of losses on derivatives contracts tied to the stock market, which caused its net worth to tumble $10.9 billion.

HSBC , Europe's biggest bank, plans to raise more than 12 billion pounds ($17 billion) in a share sale aimed at propping up its capital base during the global economic crisis, the Financial Times reported on Saturday.

HSBC , Europe's biggest bank, plans to raise more than 12 billion pounds ($17 billion) in a share sale aimed at propping up its capital base during the global economic crisis, the Financial Times reported on Saturday.

American International Group's mounting losses threaten to deepen another vexing problem for the giant insurer -- how to stem an increasing customer exodus.

Google announced on its official blog that it has began displaying ads on its News search page.

On Friday a Rwandan priest was sentenced to more than two decades in prison after he was found guilty of genocide killings in 1994.

HSBC, Europe's biggest bank, plans to raise more than 12 billion pounds ($17 billion) in a share sale aimed at propping up its capital base in order to cope with the economic crisis, the Financial Times reported on Saturday.

Mortgages and real estate assets make up more than two-thirds of the $300.8 billion Citigroup Inc portfolio in which the government has agreed to share in losses.

Dell, the PC maker, announced today its Oklahoma City campus will be powered with 100 percent wind energy which is expected to avoid the generation of 5,100 tons of CO2 emissions per year.

President Barack Obama will not store nuclear waste at Yucca Mountain in Nevada, even after two decades of planning.