IBT Staff Reporter

"We do have a serious problem in terms of debt and deficit, and much of it I inherited," Obama said. The financial crisis, he said, made the problem worse.

Aug 09, 2011

The Federal Reserve, in an unprecedented move, said on Tuesday it will keep interest rates near zero for at least two more years and is considering further action, bolstering battered stock markets.

Aug 09, 2011

A global social media campaign featuring a Bob Marley song was launched by some of the music industry's top stars on Tuesday to help stem the hunger crisis that is increasing in the Horn of Africa.

Aug 09, 2011

U.S. Department of Health and Human Services Secretary Kathleen Sebelius Tuesday announced federal grants of $28.8 million that will go to 67 community health center programs across the country.

Aug 09, 2011

Some U.S. hospitals said that 100% of patients undergoing a procedure that detects obstructive coronary artery disease (CAD) were found to have CAD while others reported that as little as 23 percent of patients selected for elective catheterization did not actually have blockages, a recent study said. Researchers evaluated 565,504 patients with no known heart disease who underwent elective cardiac catheterization at 691 hospitals nationwide over a 3-year period and found extreme inconsistency.

Aug 09, 2011

Walt Disney Co reported a better than expected 7 percent jump in quarterly revenue, helped by strong advertising that boosted the company's cable networks.

Aug 09, 2011

Motion capture animation is what has made Gollum in the Lord of the Rings and Davy Jones in Pirates of the Caribbean: Dead Man's Chest possible. But it's extremely expensive and requires an indoor environment to capture the movements. You have to place special dots all over the actor's body using reference markers, then have the actor perform in front of meticulously calibrated cameras hooked up to a sophisticated computer system, inside a closed stage with controlled lighting. Now all ...

Aug 09, 2011

AOL Inc reported a surprise second-quarter loss on Tuesday, citing weaker-than-expected advertising growth that sent shares of the company plummeting as much as 31 percent on Tuesday.

Aug 09, 2011

Dr. Bernadine Healy, the first woman to serve as the head of the National Institutes of Health and as president of the American Red Cross, died Saturday of complications from a brain tumor.

Aug 09, 2011

Now that Uncle Sam has dug itself into a $14 trillion hole, it?s the American taxpayer who should be warning Ben Bernanke and his government cronies about the irrationalities of their exuberant paper printing.

Aug 09, 2011

Plastic surgery among octogenarians, driven by the media's objective preoccupation with youth and beauty, has been gaining momentum. "Physically, I'm in good health, and I just feel like, why not take advantage of it?" 83-year-old Marie Kolstad, who had her breasts lifted and received implants in July, told the New York Times.

Aug 09, 2011

The United States faces one-in-four odds of slipping back into recession, and a weaker economic outlook is raising the likelihood the Federal Reserve will soon do more to boost growth, a Reuters poll shows.

Aug 09, 2011

Stocks seesawed in volatile trading on Tuesday after the Federal Reserve said the economic recovery will remain slow, while pledging to keep interest rates near zero for two more years.

Aug 09, 2011

Women looking to ease their symptoms of menopause, will get little to no relief from soy supplements, as they appear to do nothing to comfort the symptoms of menopause, scientists say, despite the high hopes of many.

Aug 09, 2011

Gold extended its gains on Tuesday after the Federal Reserve said it would keep interest rates low for at least another two years to help a U.S. economy that is growing considerably weaker than expected.

Aug 09, 2011

Convicted Ohio serial killer Anthony Sowell, 51, is responsible for the deaths of 11 women and dumping their remains in and around his property. The decomposing bodies of the victims were discovered by police after they came to his house to arrest him for rape and assault.

Aug 09, 2011

AT&T Inc's $1.9 billion offer for some of Qualcomm Inc's wireless licenses will be tied to a simultaneous review of AT&T's $39 billion proposed takeover of T-Mobile USA, U.S. communications regulators said in a letter sent late on Monday.

Aug 09, 2011

World stocks rebounded from a 10-day rout on Tuesday as investors looked to the Federal Reserve to calm markets, though rallies in gold and the Swiss franc showed some were clinging to safe assets.

Aug 09, 2011

Treasury Secretary Timothy Geithner discussed the global economy and the state of financial markets on Tuesday with his Chinese counterpart, Vice Premier Wang Qishan, the Treasury said.

Aug 09, 2011

Mark Duggan, the 29-year-old man whose death sparked London's riots, did not shoot police officers before he was killed, the Independent Police Complaints Commission said Tuesday. The IPCC said a CO19 firearms officer shot him twice and that the bullet lodged in a police radio was "consistent with being fired from a police gun."

Aug 09, 2011

Stocks rebounded sharply on Tuesday after a major sell-off, but markets remained vulnerable to selling if the Federal Reserve fails to ease fears of a double-dip recession.

Aug 09, 2011

Equity analysts seem to have been caught out once again by a tectonic shift in economic outlook, highlighting potential pitfalls in earnings models devised by highly-paid professionals on Wall Street and in the City of London.

Aug 09, 2011

A lawmaker called on Tuesday for BlackBerry's instant messaging service to be suspended after rioters used it to mobilize in London and other British cities.

Aug 09, 2011

AOL Inc reported a surprise second-quarter loss on Tuesday, citing weaker-than-expected advertising growth.

Aug 09, 2011

It took S&P until Monday to downgrade Fannie Mae ? years after the troubled federal housing agency doled out thousands of loans to deadbeats who never had the ability to repay them.

Aug 09, 2011

Federal Reserve policymakers began meeting on Tuesday under growing pressure to take some type of action to stem a financial market meltdown linked to fears of a new U.S. recession.

Aug 09, 2011

It was one of many strange moments in a hearing rich in absurdity. As British lawmakers questioned Rupert Murdoch last month over whether his News of the World journalists broke the law by hacking into mobile phones, the 80-year-old Australian-born boss of media giant News Corporation began to reminiscence about his late father.

Aug 09, 2011

Cablevision Systems Corp added fewer Internet subscribers than expected and lost video subscribers in the second quarter sending its shares down as much as 12 percent in early trading on Tuesday.

Aug 09, 2011

Polygamist leader Warren Jeffs was sentenced to life in prison Tuesday for sexually assaulting an underage follower he married in a "spiritual marriage." Jeffs, the head of the Fundamentalist Church of Jesus Christ of Latter Day Saints, also received a 20-year sentence for sexual assault on a 15-year-old girl. Jeffs received the maximum sentence on both counts.

Aug 09, 2011