IBT Staff Reporter

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Goldman reaches mortgage pacts with regulators

Goldman Sachs Group Inc completed the long-awaited sale of its mortgage servicing unit on Thursday after having reached agreements with the Federal Reserve and New York state's banking regulator over wrongful foreclosures.
Sep 01, 2011

Veteran Apple executive Eddy Cue gets expanded role

Apple Inc promoted veteran executive Eddy Cue to senior vice president of Internet software and services, marking one of the first personnel moves by new Chief Executive Tim Cook, who succeeded Steve Jobs last week.
Sep 01, 2011

Android vendors unfazed by Google-Motorola deal

Smartphone vendors using Google's Android platform are unfazed by the Web giant's acquisition of Motorola Mobility, seeing it as a move to protect the software from legal attacks and not a competitive threat in the marketplace.
Sep 01, 2011

Companies shift losses to high-tax countries to trim taxes

For nearly two decades, global corporations have increasingly shifted trillions of dollars in worldwide profits to low-tax countries across the Caribbean, Europe and Asia to reduce their tax bills and maximize the bottom line.
Sep 01, 2011

Government Drops Perjury Counts against Barry Bonds

The government on Wednesday dismissed three counts of perjury against home-run king Barry Bonds that had left jurors deadlocked in his trial stemming from an investigation into athletes' use of performance-enhancing drugs.
Sep 01, 2011

Don't Get Sued for Not Providing Meal Breaks

A new trend in employment law, California companies have recently been experiencing a barrage of meal break lawsuits, challenging state labor rules and the extent to which an employer must provide time to rest.
Sep 01, 2011

Manufacturing activity ticks down in August: ISM

The pace of growth in the U.S. manufacturing sector ticked down to a crawl in August, faring better than economists had forecast but remaining at the lowest level in two years, an industry report showed on Thursday.
Sep 01, 2011

TD Bank raises dividend as profit jumps 23 percent

Toronto-Dominion Bank (TD.TO: Quote) boosted its dividend on Thursday as it reported that strong loan volumes in the United States and Canada drove it to a higher-than-expected quarterly profit, pushing its shares higher.
Sep 01, 2011

HTC executive confident on Q3, sees strong Q4

HTC, the world's fifth-biggest maker of smartphones, sees a strong end to the year as consumer demand for its latest gadgets defies macro-economic worries, a company executive said.
Sep 01, 2011

Kenya interbank rate tumbles, stocks drop

Kenya's interbank lending rate tumbled to 19.2515 percent on Tuesday from 27.7299 percent the previous day, central bank data showed on Thursday, as the bank's action last week to bring down interbank rates filters through the market.
Sep 01, 2011

Golden Star restarts mining at gold mine in Ghana

Golden Star Resources said it has resumed mining at its Pampe gold deposit in Ghana, a move that will help increase overall production and slash cash operating costs at the Bogoso/Prestea mine in the region.
Sep 01, 2011

Nigeria's Access Bank to buy rival Intercontinental

Nigeria's Access Bank said on Thursday it will spend 50 billion naira to acquire a 75 percent stake in rescued rival Intercontinental Bank and combine both firms' operations within 12 months of the merger.
Sep 01, 2011

Somalia famine yet to reach its peak: UN

Food will be increasingly scarce in famine-struck southern Somalia until next year's harvest, the head of the United Nations refugee agency (UNHCR) said on Thursday.
Sep 01, 2011

Mosaid sees rescue in its Nokia-Microsoft deal

A patent licensing pact reached with tech giants Nokia and Microsoft will transform Canada's Mosaid Technologies, its CEO said on Thursday, and could help protect it from a C$480 million ($490 million) hostile takeover bid.
Sep 01, 2011

Recession fears recede as factories show growth

Manufacturing unexpectedly grew in August and fewer Americans filed new claims for jobless aid last week, despite a slump in confidence that threatened to push the economy back into recession.
Sep 01, 2011

August auto sales up despite economic turbulence

Major automakers posted double-digit U.S. sales gains for August from year-earlier levels, a steady result for a month that began with a plunge on Wall Street and ended with a hurricane shutting down the East Coast.
Sep 01, 2011

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