IBT Staff Reporter

Both North and South Korean meteorological officials are reporting that a current drought affecting the Peninsula is the worst it has experienced in over 100 years.

What is so special about the term civil war, and why are governments, media and analysts shying away from openly using that label to describe what's happening in Syria?

Moody's Investors Service on Monday downgraded the long-term debt and deposit ratings for 28 Spanish banks and two issuer ratings, following on the heels of a cut to Spain's sovereign rating to just above junk status earlier this month.

In the wake of the Syrian downing of a Turkish F-4 Phantom reconnaissance jet on Friday, there has been a great deal of restraint, but it appears Ankara's patience with Damascus may be wearing thin.

Money manager Ezra Merkin has agreed to pay $410 million to settle a lawsuit brought by the New York attorney general that accused Merkin of steering client money to Ponzi schemer Bernard Madoff, a person familiar with the settlement said on Sunday.

The Republican campaign against U.S. Attorney General Eric Holder is gaining steam ahead of an expected vote in the House of Representatives on a contempt of Congress count in the coming week.

Victory for the Muslim Brotherhood-backed politician may be an indication of Egypt's possible move toward becoming an Islamic democracy.

BlackBerry maker Research in Motion is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network, The Sunday Times reported.

The answer from Greek citizens and businesses themselves strongly suggests that it is.

Spain's banks would need between 51 billion and 62 billion euros ($64-78 billion) in extra capital to weather a serious downturn of the economy and new losses on their books, two independent audits of the sector showed on Thursday.

Where else to go when markets in North America and Europe are stagnating?

The pro-democracy opposition leader and former political activist is undertaking a major tour of Europe.

Asian stocks struggled and commodities fell broadly on Thursday after the Federal Reserve ramped up monetary stimulus by expanding Operation Twist, but disappointed some investors who had been hoping for more aggressive measures.

The inexplicable death of a Nigerian resident in China has brought to light a longstanding unease between the Chinese and the ever more numerous African immigrants

Bank of America directors have reached a definitive settlement of litigation by shareholders, who accused the bank of overpaying for Merrill Lynch, a federal judge said.

Brazil, India, China and the other countries that paid into the latest European bailout fund aren't doing it for charity. Here's what they stand to gain from saving their former colonial masters.

China's attempt to manage inflation in the real estate market is putting pressure on local governments and pushing homebuyers overseas.

Why are people in China upset at their own space program?

Asian shares slipped on Tuesday as a post-Greek election relief rally quickly ran out of steam, with rising Spanish and Italian bond yields signaling that European leaders still have much to do to contain the euro zone debt crisis.

Greece's conservatives are close to forming a coalition government following their narrow election victory, a party official said Monday.

The BRICS are expected to release data Monday on their contributions to the International Monetary Fund/European bailout package at the G-20 Summit in Mexico.

Britain's goods trade deficit unexpectedly widened in April as exports plunged, raising the threat of a third quarter of economic contraction and adding urgency to new measures to foster growth as trading partners in the euro zone weaken.

-YouTube is exploring selling subscriptions to access to some of its video offerings, potentially providing a way for certain cable channels to be available outside the traditional bundles offered by cable network providers, said YouTube boss Salar Kamangar.

Authorities in the world's major economies are preparing for a possible market storm or public panic after cliffhanger Greek elections this weekend, officials said on Thursday, should radical leftists win and cast doubt on the nation's future in the euro zone.

A campaign to root out corruption in China's soccer leagues and administrative institutions appears to be effective -- but for how long?

Technocrat Prime Minister Mario Monti appealed to Italy's politicians on Wednesday to back his tough economic medicine to avoid Rome becoming the next victim of the euro debt crisis, after a bailout for Spain's banks failed to calm markets.

Credit ratings agency Moody's Investors Service cut its rating on Spanish government debt on Wednesday by three notches to Baa3 from A3, saying the newly approved euro zone plan to help Spain's banks will increase the country's debt burden.

Chinese authorities are stepping up their hunt for illegal firearms as part of a broader effort to combat organized crime and illicit trade.

The U.S. singled out China on Monday in its effort to push the international community to place additional economic pressure on Iran.