IBT Staff Reporter

Mining giant BHP Billiton Ltd announced plans Wednesday to slash 6,000 jobs, or about 6 percent of its global work force, as the collapse in commodity prices.

Best Buy Co Inc, the largest U.S. electronics retailer, said today its appointing Brian J. Dunn as its new Chief Executive Officer replacing Bradbury H. Anderson who will step down in June. The management move comes amid troubled times for retail stores hit by the economic recession as consumers cut their spending.

President Barack Obama moved to close the Guantanamo Bay detention camp on Tuesday, ordering military prosecutors to seek a 120-day suspension of legal proceedings in the trial of Khalid Sheikh Mohammed and his four co-defendants, according to Financial Times.

Satyam Computer Services Ltd. will hire an adviser bank to review options to rescue its business as investigations continue regarding alleged fraud.

The Securities and Exchange Commission is looking into Apple Inc's disclosures about Chief Executive Officer Steve Job's health problems to make sure investors were not misled.

U.S. Bancorp, one of the 10 largest U.S. banks, said quarterly profit fell 65 percent to its lowest level since 2001, as it took a $253 million securities write-down.

U.S. stocks climbed on Wednesday after tumbling steeply Tuesday on worries that governments would be forced to take over banks to avoid a financial meltdown.

GM's Chief Operating Officer, Fritz Henderson said the company was expecting to receive its next bailout loan from the government in several days in order to avoid running out of cash.

Singing for President Barack Obama on his first night of office left Grammy-winning singer Mariah Carey full of nerves.

President Barack Obama and First Lady, Michelle, were kept busy last night being serenaded by a host of famous singers and mingling with Hollywood celebrities.

As the plane lifted off in the direction of Bangkok, I was in a fine snarly mood. I'd wreally wanted to wrave about W, now despite the flashy design I was inclined to whine.

President Barack Obama spent his first night in what he calls the new era of responsibility being serenaded by some of the most famous singers of our time.

Since Hong Kong is a mere hour-long boat ride away, we couldn't visit Macau without stopping into China's other nearby autonomous territory; those in a rush can grab a copter – and be there in twelve minutes.

A day after long talks without conclusion, Southern African leaders planned a new summit to break Zimbabwe's political impasse.

On Tuesday Hamas took to the streets of Gaza waving green Islamic flags atop the ruins of Gaza proclaiming victory.

On Tuesday Arab leaders met for the second and final day in its two day summit in Kuwait city with the aim of making a plan to rebuild Gaza.

On Tuesday Russian gas supply pumped to Europe through Ukraine resumed following a two week long price battle with Ukraine.

Mexican magnate Carlos Slim Helu, also ranked as the world's second richest man, its expanding his business as he reached an agreement with The New York Times to invest $250 on the paper, which is paying back a high interest.

Microsoft Corp. is expected to cut jobs after several major technology firms have been doing it in a response to the economic downturn.

The U.S. government is recommending consumers to avoid eating peanut butter products such as cookies, crackers, cereal, candy and ice cream on risk they may be contaminated with salmonella.

Britney Spears' changed the name of her controversial new single from her latest Circus after US radio stations threatened to ban it.

Barack Obama's daughters, Sasha, 7, and Malia, 10 have begun their new lives at the White House. In keeping with tradition, the daughters received a letter of advice from former first girls.

Indiana Jones star Shia LaBeouf has had his driver's license suspended as a result of his July 2008 car crash.

On Tuesday Rwandan troops crossed into eastern Congo in a joint military operation by the Great Lakes neighbors to disarm Rwandan Hutu rebels seen as a root cause of more than a decade of conflict.

The U.S. Virgin Islands are a territory of the United States consisting of three main islands—St. Croix, St. Thomas and St. John—along with many smaller islands and cays

Windows communications manager Brandon LeBlanc said that Microsoft has a healthy relationship with Antivirus Software saying Microsoft has been actively working with security partners to help them get their applications ready for Windows 7.

US Senator Edward Kennedy, who is battling a malignant brain cancer collapsed during the inauguration lunch for President Barack Obama.

President Barack Obama, like Bush, will be paid $400,000 in monthly installments, and an expense allowance of $50,000 to help defray official expenses.

Google's Engineering Director Steven Horrowitz who led development of Google Android's mobile project to build a Linux-based open-source phone operating system has joined Coupons Inc.