IBT Staff Reporter

NORAD Tracks Santa, the annual Christmas tradition, is gaining popularity like never before. But did you know that the U.S. military department NORAD has been keeping a close eye on Santa's flight since 1955 and the idea was born in 1897?

Cheryl is spending time with family ahead of her move to US and facing her first Christmas as a single lady

China's central bank raised interest rates on Saturday, the second rise in just over two months, stepping up its battle to rein in stubbornly high inflation.

Eight-year-old Juliana-Rose Hatcher had tracked Santa Claus all of Friday with the aid of NORAD's Santa hotline, before she got some unexpected help from Michelle Obama.

World stocks held near the previous day's two-year high on Friday while oil hit fresh two-year peaks after strong U.S. data this week encouraged investors to maintain their risk positions into 2011.

The Justice Department has opened a criminal investigation into small Swiss regional banks which may have helped Americans evade taxes, the New York Times reported, citing two people briefed on the matter.

As the first two years of President Barack Obama's tenure wind down, the President has made a big push to accomplish some of his goals. While he has kept many of his promises, he has not kept others. Some of those are stalled, others in the works.

Real Madrid manager Jose Mourinho is of the opinion that he should be named FIFA Ballon d'Or coach of the year despite Spanish National team coach Vicente Del Bosque appearing to be the front-runner for the award having led Spain to their first World Cup triumph.

Google Inc has released a software that lets eager children locate the exact location of Santa Claus as he goes through Europe.

England skipper Andrew Strauss said Ian Bell wouldn't be pushed up the batting order despite the widespread calls while Australian skipper Ricky Ponting came through a net session despite a broken finger and looks set to play in the Fourth Ashes test at Melbourne.

A minor tech glitch in the heart of tech corridor of Bangalore, India’s tech city hasn’t been set right in two months.

Ontario-based Alphabet Photography Inc. organized a Flash Mob on November 13th to thank its customer base but the video has gone viral with over 25.5 million views, according to the company.

Snow creates havoc in air travel again this year in Europe, as many flights were halted or canceled due to heavy snowfall in the U.K. and several other parts of Europe.

Academic salaries in South Africa have grown by 51% - the highest among seven Commonwealth countries surveyed - since 2006-07.

Credit rating agencies have yet to overcome underlying conflicts of interest that have contributed to the current crisis and their approach was a reason for concern, an ECB Executive Board member said.

Recent research says most online videos are linked from Google and Facebook.

Dutch navigation device maker TomTom expects more deals with car producers and will increase its workforce by about 14 percent next year as it seeks market share in Asia, its chief executive told a Dutch paper.

Core OPEC ministers said on Friday they saw no need to supply the world with more crude as oil prices traded near a two-year high and some consumers said they fear a rally above $100 per barrel would spur inflation.

Even as people decide to hit the road during the holiday, oil prices have touched a high not seen since October 2008, according to AAA.

Online travel agency Expedia Inc is making users take extra steps to get American Airlines listings after the U.S. airline stopped selling tickets through rival Orbitz Worldwide Inc earlier this week.

World stocks held near the previous day's two-year high on Friday while oil hit fresh two-year peaks after strong U.S. data this week encouraged investors to maintain their risk positions into 2011.

Software maker Microsoft has warned users of an Internet Explorer (IE) bug that could hack into computers and take control of unprotected computers.

Oil hovered around its highest levels in more than two years on Friday, supported by cold weather across the globe, appetite for risk assets and signals from OPEC it would not arrest the rally.

Nissan Motors on Friday has delivered the first 10 units of its 100% electric and zero-emission Nissan LEAF in Portugal.

The postponed Premier League fixture between power houses Chelsea and Manchester United has been rescheduled for Tuesday, March 1, albeit provisionally.

The FTSE Small Cap index <.FTSC> were steady after the half-day trading session on Christmas Eve, underperforming the 0.2 percent gain on the blue chip index <.FTSE>, while the midcaps <.FTMC> fell 0.7 percent.

Recent economic reports indicate that the average U.S. consumer is feeling more confident about the economy and intends to spend more with that belief. Consumer spending, which forms about 70 percent of GDP growth, rose in November for the sixth straight month, the Commerce Department reported on Thursday. Personal income also inched up marginally, which prices also rose during the month.

Smith Electric Vehicles U.S. (SEV) and the Tanfield Group announced today that the American maker of all-electric trucks will purchase its United Kingdom-based parent company, Smith Electric Vehicles U.K. for $15 million in January.

Oil hovered around its highest levels in more than two years on Friday, supported by cold weather across the globe, appetite for risk assets and no signals from OPEC it was prepared to arrest the rally.