IBT Staff Reporter

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Verizon Wireless to sell $200 iPhone

Verizon Wireless plans to sell Apple Inc's iPhone for as low as $200 starting next month, putting the smartphone at the center of its high-stakes battle with AT&T Inc for wireless customers.

Fed's bond-buying could soon backfire: Plosser

The U.S. Federal Reserve's aggressive bond-buying plan could soon backfire unless the central bank gradually changes course to head off inflation, a top Fed official known for his hawkish stance said on Tuesday.

Two US Fed banks wanted discount rate hike: minutes

Directors of Federal Reserve banks in Dallas and Kansas City again requested, unsuccessfully, a 0.25 percent rise in the rate charged to banks for emergency loans, minutes of Fed meetings in November and December showed on Tuesday.

MySpace lays off nearly half its staff

News Corp's MySpace is laying off nearly half its staff, setting the stage for a sale of the former Internet social networking leader as is it refocuses as an entertainment site.

Goldman vows to boost disclosure, avoid conflicts

Goldman Sachs Group Inc took a step toward greater transparency by pledging to disclose more about how it makes money, seeking to rebut criticism that it has been putting its own interest ahead of clients.

Assange extradition hearing set for next month

WikiLeaks founder Julian Assange made a brief appearance in a London court on Tuesday and will return next month for a full hearing on Sweden's efforts to extradite him for questioning over alleged sex crimes.

Euro zone set to discuss rescue fund capacity Mon

Euro zone finance ministers are likely to consider next week the option of raising the effective lending capacity of the euro zone rescue fund as part of efforts to calm sovereign debt markets, euro zone sources said.

Goldman to improve disclosure

Goldman Sachs Group Inc , responding to pressure from shareholders, regulators and others, said it will disclose more information about how it makes money.

Lennar sees profit in 2011, shares surge

Lennar Corp , the third-largest U.S. homebuilder, reported quarterly results that beat Wall Street estimates and said it expected a profitable 2011, boosting its own shares and those of its rivals.

Goldman pledges openness, avoids shakeup

Goldman Sachs Group Inc pledged to be more open about how it makes money and to put clients' interests ahead of its own, eager to rebut criticism that it acts more like a hedge fund than a bank.

Treasury.gov moves to Amazon cloud

Smartronix announced the launch of the new Treasury.gov web site and the migration of four other agency sites to Amazon Web Services (AWS) cloud, marking the first time a cabinet level agency has moved its Web sites to AWS.

How Verizon-iPhone tie-up would affect consumers and competition

Media has been set abuzz with the expectations that the Verizon's Tuesday, 8 a.m. announcement in New York will be the news that the iPhone will be available on its network. Here are some factors on how Verizon-iPhone tie-up would affect consumers and competition

Alaska pipeline to bypass leak, restart seen

Alaska's main oil pipeline was still expected to restart this week with plans to bypass a leaking section that forced the line to shut down on Saturday, idling 12 percent of U.S. oil production, a source familiar with its operations said on Tuesday.

BAE to keep Platform Solutions unit

BAE Systems Plc will cancel the auction of its Platform Solutions unit and keep the division after months of talks with potential buyers resulted in no agreement, the company said on Tuesday.

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