IBT Staff Reporter

Japan's disgraced Olympus Corp is set for a tense boardroom showdown on Friday when its former chief executive confronts the men who sacked him a month ago with his own call for their resignations over a huge accounting scandal.

Singer Robin Gibb of the Bee Gees Wednesday said he is on the road to recovery after being very unwell in recent days, and he thanked fans for their support in a message posted on his website.

The committee of unsecured creditors for the bankrupt Los Angeles Dodgers threw its support behind the team's effort to sell TV broadcast rights earlier than expected, riling News Corp's Fox Sports.

Australia's government approved on Friday SABMiller's A$11.5 billion ($11.2 billion) deal to acquire Foster's Group Ltd under foreign acquisitions laws, but imposed conditions requiring the company to keep brewing operations in Australia.

France has nominated Treasury Chief Economist Benoit Coeure as a candidate for the executive board of the European Central Bank, to replace outgoing board member Lorenzo Bini Smaghi, the Finance Ministry said on Thursday.

Australia's government approved on Friday SABMiller's A$11.5 billion ($11.2 billion) deal to acquire Foster's Group Ltd under the country's foreign acquisitions laws, but attached conditions requiring the company to keep brewing operations in Australia.

India threw open its $450 billion retail market to global supermarket giants on Thursday, approving its biggest reform in years that may boost sorely needed investment in Asia's third-largest economy.

The Westin St. Francis Hotel in San Francisco has kicked off the holiday season in style – by unveiling a 12-ft tall Holiday Sugar Castle made of sumptuous ingredients.

Weak demand at a German debt auction suggests investors are starting to shun even the euro zone's strongest economy, which could trigger more losses in the shared currency as many shift from euro-denominated assets to safe havens outside the region.

A Canadian consortium aiming to buy the operator of the country's largest exchanges said the C$3.8 billion deal would likely win regulatory approval, its hopes boosted by a first day of hearings on Thursday.

Banks are redoubling efforts to sell the 465 million euro ($619.50 million) leveraged loan backing private equity firm Kohlberg Kravis Roberts & Co.'s buyout of German telecoms company Versatel before year-end, sources said on Thursday.

Accounting and consulting firm Ernst & Young said chairman and chief executive James Turley will retire in June 2013.

European shares fell for the sixth consecutive session in low volume on Thursday after German Chancellor Angela Merkel restated her position against changing the role of the European Central Bank to ease the euro zone debt crisis.

Internet service providers cannot be forced to block their users from downloading songs illegally, as such an order would breach EU rules, Europe's highest court said on Thursday in a ruling welcomed by a consumer group.

A Canadian consortium's proposed takeover of TMX Group , operator of the country's largest exchanges, will make capital markets more efficient and better able to compete on the world stage, supporters of the C$3.8 billion deal said on Thursday.

The Canadian government has the right to fine U.S. Steel (X.N: Quote) for breaking job-protection promises made when it bought Canadian steelmaker Stelco, the Supreme Court of Canada ruled on Thursday.

Toronto's main stock index hit a seven-week low on Thursday morning, as materials and financial issues retreated in response to euro zone debt fears, sparked by rising German government bond yields.

Pittsburgh's Sidney Crosby failed to find the same explosive form that marked his return to NHL action earlier this week and was held without a point as the Penguins lost 3-2 in overtime to St Louis on Wednesday.

India will open the country's retail industry to foreign supermarkets, a much delayed reform expected to help unclog supply bottlenecks and ease inflation over time.

British telecoms regulator Ofcom said on Thursday broadband suppliers should be clearer about how they manage traffic on their networks and the speeds users can expect to achieve.

Canadian singer Drake jumped straight to No. 1 on Wednesday on the Billboard Top 200 album chart with his latest offering Take Care, while Rihanna dominated the singles chart with three songs in the top 10.

Three executives of Japan's Olympus Corp resigned on Thursday ahead of a boardroom showdown with ousted CEO Michael Woodford, as the British whistleblower said he would not be surprised if some criminality were involved in the scandal engulfing the once-venerable firm.

Protesting oil workers have yet to buy into Colombia's grand vision for its oil industry, staging strikes that have shut the country's largest oil field and threatening further unrest.

Canadian farmers earned nearly 11 percent more during the first nine months of 2011 than they did in the year-before period, Statistics Canada reported on Thursday.

Fitch downgraded Portugal's credit rating to junk status on Thursday, citing large fiscal imbalances, high debts and the risks to its EU-mandated austerity program from a worsening economic outlook.

City workers dismantled tents and cleared debris from a downtown park on Wednesday as part of a restrained, daylong operation by police to peacefully end a five-week encampment by Occupy Toronto protesters.

As winter chills set in, it's time to dust off the skis and head to the hill! But before you do, check out this guide to the best of the West. This ski season preview has you covered for season dates, best runs, and directions to the top resorts.

A Canadian provincial court on Wednesday upheld the country's ban on polygamy, saying the harm that plural marriage causes to women and children outweighed any infringement of religious freedoms.

JP Morgan has dramatically boosted its influence in the battle to acquire the London Metal Exchange by increasing its stake this week to become the biggest shareholder.