IBT Staff Reporter

ArcelorMittal has pulled out of its joint $5 billion bid with Peabody Energy for Australia's Macarthur Coal , days after the target's top shareholder accepted the offer and left the steelmaker with a higher-than-expected cost.

President Barack Obama said on Tuesday former Libyan leader Muammar Gaddafi missed his chance to bring democracy to his country and described his death as a message to dictators around the world.

CBS has ordered full seasons of its new dramas Person of Interest and Unforgettable, the network announced Tuesday.

After a month of declines following its stellar season premiere performance, Two and a Half Men may have found its ratings bottom -- and it's quite high. The show had a slight increase Monday night and helped make CBS the highest-rated network for the evening, according to preliminary numbers.

Prisoners set fire to a jail in Turkey's earthquake-hit city of Van on Tuesday and gunshots were heard as inmates fought their guards following a big aftershock.

Boxer Chuck Wepner inspired Sylvester Stallone's Rocky films -- and the fact that he never got a cut of the billion-dollar franchise inspired him to sue.

Roberto Orci and Alex Kurtzman, the writing team behind Transformers, Star Trek, Mission: Impossible 3 and Cowboys & Aliens, are joining Skydance Productions, TheWrap has learned.

Dana Fox, writer of Couples Retreat and What Happens in Vegas, has sold a script for a single-camera comedy to Fox Broadcasting Co. with a significant penalty, the network told TheWrap.

Hurricanes, earthquakes, lightning, slow play, burrowing moles -- Mark Russell has had to contend with a wide range of obstacles in his role as a tournament director for the PGA Tour.

Stocks fell on Tuesday on doubts European leaders can agree on a plan to end the euro zone debt crisis, while major corporations disappointed investors with their outlooks.

Troubled actress Lindsay Lohan may have found a way to pay some of her mounting legal bills with a planned agreement to pose nude for Playboy magazine, a source who knew of Lohan's plans said on Tuesday.

Michael Jackson was named this year's top-earning dead celebrity on Tuesday in a list compiled by financial website Forbes.com, earning the title for the second year in a row following his death in 2009.

A grand bargain to stop the euro zone debt crisis from spreading would cheer global markets but may not ease the dollar squeeze faced by Europe's banks.

Boeing Co is comfortable with the production targets for its 787 Dreamliner, Scott Francher, a Boeing VP and head of the 787 program, said on Wednesday at Tokyo's Narita airport ahead of the plane's first flight for paying passengers.

When Glenn Close sees a good part she goes after it -- even if it takes decades.

Los Angeles Dodgers owner Frank McCourt looted $190 million from the bankrupt team to fund his lavish lifestyle, which includes eight homes, according to court documents filed on Tuesday by Major League Baseball.

Employees of NASA's Jet Propulsion Laboratory near Los Angeles were advised to stay indoors on Tuesday after a 200-pound bear was spotted roaming the campus.

A nurse said on Tuesday that Michael Jackson sought her help to get the anesthetic propofol as a sleep aid, but she could not persuade the pop star to avoid the drug that ultimately led to his death in 2009.

Tom Waits has been called a lot of things, but rockabilly cat was probably never among them. That's just one of many guises the veteran eccentric takes on in Bad as Me, his first all-new release in eight years and a leading album-of-the-year contender.

Hitachi Ltd lifted its first-half profit forecast by 70 percent on improvements in its infrastructure-related businesses but kept its annual forecast intact citing unstable conditions in the global economy.

The Bank of Japan will likely debate easing monetary policy further on Thursday given the yen's renewed spike to record highs and growing doubts that European leaders will calm markets with a clear plan to rein in the region's debt crisis.

After months of dire predictions for the economy, including warnings of a new recession, forecasters are singing a different tune.

Japan's Tokyo Electric Power Co <9501.T>, operator of the crippled Fukushima Daiichi nuclear plant, is likely to announce its earnings for April-September on November 14, the Yomiuri newspaper reported on Wednesday.

Network equipment maker F5 Networks Inc reported better-than-expected quarterly results as product sales jumped 20 percent, and forecast a strong fiscal 2012 revenue, sending its shares up 8 percent in after-hours trading.

A damages expert asserted Trust Company of the West is owed $81.7 million in royalties due to trade secret theft as the high-profile civil case pitting the asset mangement firm against its former chief investment officer Jeffrey Gundlach resumed on Tuesday.

Wall Street is losing confidence that Netflix Inc can quickly reverse subscriber defections and cover mounting costs with growth in streaming, pushing its shares to their largest one-day decline since 2004.

Hotel operator Marriott International Inc on Tuesday said its board has approved the spin-off of its time share business, Marriott Vacations Worldwide Corp, to shareholders.

Medtronic Inc has asked software security experts to investigate the safety of its insulin pumps, as a new claim surfaced that at least one of its devices could be hacked to dose diabetes patients with potentially lethal amounts of insulin.

Unusually beautiful northern lights, or aurora borealis, were seen unusually far south over the skies of the United States on Monday night, thanks to a solar wind from the sun that sent the stunning light show for sky watchers.