IBT Staff Reporter

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Senate OKs Fed audit as part of bank overhaul

The Senate on Tuesday challenged the Federal Reserve's tradition of secrecy but postponed an overhaul of mortgage finance giants Fannie Mae and Freddie Mac under a massive reform of banking regulations.

Microsoft updates Office, vies online with Google

Microsoft Corp launches an updated version of its Office software on Wednesday, aiming to keep its grip on the hugely profitable business application market while countering the challenge of free online alternatives from Google Inc.

Mental health is 'everybody's business' research says

Mental health has been called to be put highest priority in the national health and political agenda, by one of Australia's largest churches, Wesley Mission, following the findings of recent research stating 77 per cent of people in NSW have either experienced mental illness or knew someone who had.

FDIC floats bank wills, securitization rules

The largest U.S. banks would have to come up with plans for regulators to dismantle them in times of severe distress, under a new rule proposed by the Federal Deposit Insurance Corp on Tuesday.

Daily forex forecast - 12/5/2010

The Australian dollar rallied against the US during Asia despite data showing a decline in business confidence and job advertisements.

SEC says markets failed investors in selloff

The top U.S. securities regulator said markets failed many investors when they suddenly fell nearly 1,000 points last Thursday afternoon and vowed to rectify the situation quickly.

Struggling Nokia revamps management team again

Top cellphone maker Nokia Oyj revamped its management team for the second time in seven months, placing veterans in two key roles to revive its core business units and fend off rivals like Apple Inc.

How I Travel: Susie Floros

Being an only child had its perks. I'd sprawl out across the backseat and go wherever the road brought us. We'd drive from Rhinebeck, New York down the east coast to the Jersey Shore, North Carolina or Florida for family vacations.

U.S. homebuilders' rally will expire with tax credits

Investors soothed by the stock market rebound should not get too comfortable in U.S. homebuilder shares. Last week's sell-off in that sector was no mere blip triggered by unrest on Greek streets far from placid U.S. suburbs.

Fannie, Freddie aid cost unclear: regulator

It is unclear how much U.S. taxpayers will eventually have to shell out to help mortgage finance giants Fannie Mae and Freddie Mac, the regulator of the two companies said on Tuesday.

How to Save Money on London Theatre Hotels

So you've decided to come to London to see a musical or a play. You want to have a great night out watching one of the big shows like Oliver, Sister Act or Avenue Q, but you also want to keep the costs down as much as possible. The first thing to consider is where you're going to stay.

Dow, S&P 500 fall as euro-zone fears linger

The Dow and the S&P 500 fell in a volatile session on Tuesday as fears that a $1 trillion bailout for Europe won't solve the region's deep-seated problems blunted an improving U.S. economic picture.

U.S. still looking for market plunge cause

The top U.S. securities regulator said no single event had been found to explain Thursday's mysterious market plunge, but the shocking drop was unacceptable and additional safeguards were coming.

Cuomo sues Bank of NY Mellon unit over Madoff

New York Attorney General Andrew Cuomo sued a Bank of New York Mellon Corp unit and two former senior officers on Tuesday, claiming they kept clients in the dark about investing with Bernard Madoff.

Apple questions Android smartphone surge

Apple Inc on Tuesday questioned recent data showing smartphones using Google's Android operating system surpassing iPhone sales in the United States, and said there are no signs that the competition is gaining in the smartphone market.

SEC still searching for market plunge cause

The top U.S. securities regulator said no single event had been found to explain Thursday's mysterious market plunge but the events were unacceptable and additional safeguards were coming.

U.S. still searching for market plunge cause

The top U.S. securities regulator said no single event had been found to explain Thursday's mysterious market plunge but the events were unacceptable and additional safeguards were coming.

Senate rejects broader Fed audit amendment

The Senate rejected an amendment on Tuesday that would have exposed the Federal Reserve to broader scrutiny by Congress, which critics said would extend to monetary policy decisions.

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