IBT Staff Reporter

Gold prices extended gains in Asian trade Tuesday as the euro surged after China's central bank set the yuan's daily mid-point at a record high, against the dollar, in five years.

Jun 22, 2010

Gold prices have once again climbed to record levels of $1264 last week before correcting on profit taking thereby cementing the appeal of the yellow metal as a safe haven for investors. China announced its move toward a more flexible currency exchange rate mechanism which has improved the investor sentiments in general but the softening of the dollar has helped the recent surge in gold prices to record levels.

Jun 22, 2010

U.S. film studio Spyglass Entertainment has emerged as the leading contender to run debt-ridden Metro-Goldwyn-Mayer Inc, the Wall Street Journal reported, citing people familiar with the matter.

Jun 22, 2010

Asian stocks retreated on Tuesday as investors booked profits a day after China's weekend decision to give its currency more flexibility triggered a risk rally.

Jun 22, 2010

Google Inc and Twitter Inc have asked an appeals court to overturn a lower court's decision to bar Theflyonthewall.com from issuing immediate news on analyst research from several Wall Street banks, court documents showed.

Jun 22, 2010

British Airways said it had agreed a recovery plan for its 3.7 billion pound ($5.5 billion) pension deficit, potentially removing a final obstacle to its planned merger with Spain's Iberia .

Jun 22, 2010

China pulled back the veil on its new currency regime a little further on Tuesday, appearing to engineer a fall in the yuan to make clear its vow of flexibility did not include one-way bets for appreciation.

Jun 22, 2010

Wal-Mart Stores Inc offered a plan on Monday aimed at winning over union leaders and Chicago lawmakers in its attempt to open dozens of stores in the city over the next five years.

Jun 21, 2010

Communications regulators are holding a series of closed-door meetings with phone, cable and Internet lobbyists in an effort to hammer out a deal over how broadband should be regulated, a senior official said on Monday.

Jun 21, 2010

China's yuan jumped on Tuesday to its highest level since the currency was revalued in 2005 as the central bank signaled it would tolerate yet further gains to make good on its vow for more foreign exchange flexibility.

Jun 21, 2010

Asian markets waited with bated breath Tuesday to see how far Beijing would go in allowing its currency to strengthen, a litmus test of just how flexible the Chinese authorities are prepared to be to meet U.S. demands.

Jun 21, 2010

New Jersey Democratic legislators on Monday failed to gather enough votes to extend a tax on millionaires that would have been used to provide property tax relief for senior citizens and the disabled.

Jun 21, 2010

Brazil's state oil company Petrobras announced on Monday a 29 percent investment hike over five years as it stepped up its campaign to tap some of the world's largest deposits of deep sea oil.

Jun 21, 2010

Amazon.com Inc and Barnes & Noble Inc reduced prices of their electronic readers on Monday, responding to the threat from Apple Inc's iPad tablet computer.

Jun 21, 2010

The AUD has opened lower this morning currently trading around USD0.8765 as profit taking entered the market following the announcement from the Chinese central bank regarding the Chinese Yuan.

Jun 21, 2010

(In paragraph 8, Petrobras corrects projected subsalt production to 241,000 barrels per day instead of 152,000; in paragraph 9, Petrobras corrects planned investment to $33 billion, up 18 percent from previous figure instead of $30.9 billion, up 10 percent; in paragraph 10, corrects subsalt production projection to 1.08 million bpd instead of 1.18 million; in paragraph 15, corrects percent of inve...

Jun 21, 2010

China's signal it will let its yuan currency appreciate is good news for global manufacturers and resource companies that supply the world's third-biggest economy with the equipment and commodities it needs to fuel growth.

Jun 21, 2010

The Supreme Court said on Monday it would hear JPMorgan Chase & Co's appeal over a lawsuit accusing the bank of violating federal law by failing to notify credit card holders before raising interest rates due to late payments or defaults.

Jun 21, 2010

Press release service Business Wire said on Monday it will no longer accept releases by email after it inadvertently distributed a hoax statement involving a small pharmaceutical company, days after its main rival was burned in a similar fashion.

Jun 21, 2010

Connecticut's attorney general will lead a multi-state probe of whether Google Inc broke the law when it siphoned personal data off wireless networks around the world, which the Internet search leader has said was inadvertent.

Jun 21, 2010

Commodity currencies rallied on Friday, with the Aussie advancing to a new monthly high reaching 0.8712 USD.

Jun 21, 2010

Major retailers have begun taking orders for Kinect, Microsoft Corp's controller-free add-on for its Xbox video game system, at $149.99 -- even though the company has not officially put a price tag on it.

Jun 21, 2010

Upgrades to a wastewater treatment plant in Colorado helped filter out gender-bending chemicals that were affecting fish, U.S. researchers reported on Monday.

Jun 21, 2010

U.S. automakers oppose raising the blend of ethanol in gasoline from the current 10 percent, saying cars won't run as well on higher blends, but Brazil's experience shows their arguments are weak.

Jun 21, 2010

Armando Galarraga had never pitched a perfect game in his major league baseball career. But on June 2, in a game against the Cleveland Indians, he was one out away from that distinction.

Jun 21, 2010

China's surprise move to relax currency controls ahead of this weekend's G20 summit buoyed global markets and sent the yuan to a five-year peak on Monday, but caution returned as analysts questioned how far Beijing's new currency flexibility would go.

Jun 21, 2010

Japanese carmaker Toyota UK and French utility EDF are starting three year trial of the Plug-In hybrid Prius car in Britain, the companies said on Monday.

Jun 21, 2010

Americans trust technology heavyweights such as Apple, Google and Microsoft more than social networking sites like Facebook and Twitter, according to a new poll.

Jun 21, 2010

Biovail Corp is to take over U.S-based Valeant Pharmaceuticals International in a complex deal that positions the enlarged firm to better serve the growing baby boomer market.

Jun 21, 2010