IBT Staff Reporter

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Fed's Raskin: Reforms needed in mortgage practices

The U.S. economy is still suffering from a shocking drop in homeowners' equity and reforms are needed in how mortgage loans are originated and handled, Federal Reserve Governor Sarah Bloom Raskin said on Tuesday.
Oct 04, 2011

Insight: China's foreign lawyers argue case from the gallery

Ten years after lawyers helped forge an agreement to bring China into the World Trade Organization , a step that created opportunities for scores of non-Chinese businesses, foreign attorneys in the country wish they had struck a better deal for themselves.
Oct 04, 2011

Wall Street set to open in bear market

Stock index futures pointed to a lower open on Tuesday, with the S&P 500 set to enter a bear market as European officials postponed a vital aid payment to debt-stricken Greece.
Oct 04, 2011

IEA warns of ballooning world fossil fuel subsidies

Global subsidies for fossil fuel consumption are set to reach $660 billion in 2020 unless reforms are passed to effectively eliminate this form of state aid, the International Energy Agency said on Tuesday.
Oct 04, 2011

UBS third-quarter credit gains to cancel out trading loss

Swiss bank UBS AG said it expects to report a modest third-quarter net profit, easing concerns about the impact of the $2.3 billion rogue trading loss uncovered last month as the bank chalks up gains on credit derivatives.
Oct 04, 2011

ECB seen leaving rates on hold as Trichet bows out

The European Central Bank is likely to leave interest rates unchanged when it holds the last policy meeting of Jean-Claude Trichet's presidency on Thursday, but may open the door to a cut under his successor and reintroduce some of its most potent crisis-fighting weapons.
Oct 04, 2011

Anti-austerity protesters block Greek ministries

Greek public sector workers blocked the entrances to several ministries on Tuesday to protest against austerity measures, disrupting talks with EU and IMF inspectors on a vital aid tranche.
Oct 04, 2011

Supreme Court rejects Internet music download case

The Supreme Court let stand on Monday a ruling that a traditional Internet download of sound recording does not constitute a public performance of the recorded musical work under federal copyright law.
Oct 04, 2011

Nokia to unveil first Windows phones this quarter

Nokia will unveil its first Windows-based smartphones this quarter, arguing that there is room for an alternative to the products of big-hitters Apple and Google on the same day that Apple prepared to launch its latest iPhone.
Oct 04, 2011

Stock futures off on Greece fears

Stock index futures fell on Tuesday, a day after equities hit 13-month lows, as European officials considered making banks take bigger losses on Greek debt and on expectations Greece would default soon.
Oct 04, 2011

Stock futures fall on Greece fears

Stock index futures fell on Tuesday, a day after equities hit 13-month lows, on increased worries about a major banking crisis in Europe and expectations Greece would default soon.
Oct 04, 2011

Insight: Gucci, Tiffany target Chinese banks

Two Western luxury-goods giants are taking a controversial tack in the fight on Chinese knockoffs, by targeting the U.S. branches of major Chinese banks that allegedly do business with the pirates.
Oct 04, 2011

Using Twitter for Research Reveals Trends in Global Sentiment

Cornell University scientists in New York have just completed a social behavior study focusing on Twitter. Published in the journal Science, the research was based on a two-year period of observations recording 509 million tweets from 2.4 million users. Scientists gathered participants from 84 different countries to determine whether there were any trends or correlations to people's moods across regions.
Oct 04, 2011

Japan electronics companies battle Europe crisis

Japanese electronics firms are suffering from the downturn in European consumption and the euro's slump to a 10-year low against the yen, senior executives from Sony Corp, Panasonic Corp and Fujitsu Ltd said on Tuesday.
Oct 04, 2011

World stocks tumble on banks' Greece exposure fears

World stocks hit a fresh 15-month low on Tuesday and the dollar rose to a nine-month peak as fears over a major banking crisis in Europe mounted along with expectations Greece could soon default, accelerating a global economic slowdown.
Oct 04, 2011

U.S. buyers shun conflict minerals in Congo's east

A battered pickup truck pulling up to Huaying Trading's back street office in Goma is about all that remains of Congo's once-bustling resources business as an impending U.S. crackdown on so-called conflict minerals scares most buyers away.
Oct 04, 2011

Switzerland tops list of tax haven nations: network

Switzerland, despite bank settlements with the United States to disclose tax evaders, remains the top refuge for financial secrecy, according to a new international ranking of tax haven countries.
Oct 04, 2011

U.S. Stock Index Futures Signal Further Losses

Stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500 down 0.4 percent, Dow Jones futures down 0.5 percent and Nasdaq 100 futures down 0.5 percent at 0841 GMT.
Oct 04, 2011

Stock index futures signal further losses

Stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500 down 0.4 percent, Dow Jones futures down 0.5 percent and Nasdaq 100 futures down 0.5 percent at 0841 GMT.
Oct 04, 2011

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