IBT Staff Reporter

Bankers have offered to stretch the voluntary haircut on Greek debt to 40 percent, while politicians demand the private sector agree to writedowns of at least 50 percent, senior German banking source said on Sunday.

Foreign investors eager to snap up development projects in key oil producer Iraq are unlikely to balk after the United States withdraws all its troops at the end of the year as long as security does not deteriorate.

Former Federal Reserve Chairman Paul Volcker is advocating for regulatory control over the money-market mutual fund industry and believes the government should stop financing mortgages.

News Corp's third-largest investor has urged Rupert Murdoch to sell all his newspapers and double the size of a share buy-back plan, the Sunday Telegraph reported.

Motorsport witnessed its second death from a crash, in the space of a week, after Italian Motorcyclist Marco Simoncelli was killed in a crash at the Malaysian Moto GP on Sunday.

Tokyo Electric Power Co is likely to sell a 20 percent stake in wind power developer Eurus Energy Holdings to trading firm Toyota Tsusho to help raise funds to compensate victims of Japan's nuclear crisis, a newspaper said on Sunday.

The long-standing Clovis model said that Clovis people first populated North America 13,000 years ago. A new archaeological finding now suggests we need to move on from this old theory.

The major online streaming service is coming to Nintendo devices by the end of the year.

After months of rumors, it's finally been confirmed: the new Galaxy Nexus is coming to the U.S. on Verizon Wireless. The carrier announced the news today in a press release that also outlined the features of the Galaxy Nexus, which is the first to go on the market with the new Android-based Ice Cream Sandwich operating system, as well as the first to feature a HD Super AMOLED display.

European Union leaders piled pressure on Italy on Sunday to speed up economic reforms to avoid a Greece-style meltdown as they began a crucial two-leg summit called to rescue the euro zone from a deepening sovereign debt crisis.

France lobbied on Sunday to overcome German opposition to giving the European Central Bank a central role in bolstering the euro zone's bailout fund, arguing it was the only way to draw a definitive line under the widening debt problems.

The first Manchester derby of the season sees Man City make the short trip to Old Trafford to face Manchester United.

UBS may cut its return on equity target by 5 percentage points to a range between 10 and 15 percent at an investor day next month when the Swiss bank is expected to announce the shrinking of its investment bank.

European Union leaders hold talks on Sunday to try to hammer out a comprehensive plan for tackling the euro zone debt crisis, but a breakthrough is not expected until another summit on Wednesday.

European Union leaders piled pressure on Italy on Sunday to speed up economic reforms to avoid a Greece-style meltdown as they began a crucial two-leg summit called to rescue the euro zone from a deepening sovereign debt crisis.

The European Union is ready to adopt decisive measures to tackle its sovereign debt crisis, French Prime Minister Francois Fillon said Sunday.

The European Union is ready to adopt decisive measures to tackle its sovereign debt crisis, French Prime Minister Francois Fillon said Sunday.

China will make job creation a more urgent priority in the face of slowed economic growth and weakened exports, Premier Wen Jibao said in comments published on Sunday, also warning that efforts to tame housing prices were at a critical point.

Country-music singer Loretta Lynn, who grew up poor in Kentucky's coal-mining region before rising to fame, has canceled two performances after being diagnosed with pneumonia, a statement on her Web site said Saturday.

Liverpool were held at home against Norwich City in the Premier League, as they lost ground on the top four.

China will make job creation a more urgent priority in the face of slowed economic growth and weakened exports, Premier Wen Jiabao said in comments published Sunday.

The Tokyo Electric Power Co. is likely to sell a 20 percent stake in wind power developer Eurus Energy Holdings to trading firm Toyota Tsusho to help raise funds to compensate victims of Japan's nuclear crisis, a newspaper reported Sunday.

Japanese electronics maker Panasonic Corp will scale back domestic semiconductor output by the end of March 2012 and cut about 1,000 jobs, reflecting its recent move to reduce TV panel production, the Nikkei business daily said on Sunday.

Apple Inc.’s new voice-recognition application for the iPhone 4S, better known as Siri, may be given a run for its money by a recently released Android smartphone app called Iris, or Siri spelled backward.

Japanese electronics maker Panasonic Corp will scale back domestic semiconductor output by the end of March 2012 and cut about 1,000 jobs, reflecting its recent move to reduce TV panel production, the Nikkei business daily said on Sunday.

After news broke of former Libyan Prime Minister Muammar al-Gaddafi's death, some may have been shocked, while others, like Conan O'Brien and the staff of his show, chose to celebrate more than an end to his reported dictatorship placed on people of the country, but to the end of misspellings of his name.

Spain has done enough to meet its deficit-cutting goals despite the autonomous regions falling behind on their targets, a source in the president's office said Saturday, countering concerns the country could fall short of its forecasts.

Spain has done enough to meet its deficit-cutting goals despite the autonomous regions falling behind on their targets, a source in the president's office said on Saturday, countering concerns the country could fall short of its forecasts.

Occupy Wall Street protesters marched through lower Manhattan on Saturday to rally against police brutality, but the crowd was a fraction of the 5,000 who turned out a week ago when protests sprouted around the globe.