IBT Staff Reporter

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Airbus to test biofuels when available

Airbus Industrie is sure that biofuels, the 'green' hope of the aviation sector, will work in its planes and is looking forward to testing them, a senior official for the European airliner builder said on Thursday.

Obama proposes new risk rules for banks, shares dive

President Barack Obama proposed stricter limits on financial institutions' risk-taking on Thursday in a new populist-tinged move that sent bank shares tumbling and aimed to shore up the president's political base.

California sees problems in U.S. vehicle pollution plan

California has issues with federal attempts to weaken new vehicle pollution standards, but the state backed away on Wednesday from a report that it was threatening to pull out of a deal with U.S. President Barack Obama's administration.

Wall St tumbles on Obama banking proposal

Wall Street tumbled on Thursday after President Barack Obama proposed rules aimed at making the financial system safer by preventing the biggest banks from taking excessive risks.

Senate won't vote on Bernanke this week: aide

The U.S. Senate will not vote this week on whether to confirm Federal Reserve Chairman Ben Bernanke for a second four-year term, a Democratic party aide said, raising the risks that time will run out to confirm Bernanke before his current term expires.

Philly Fed factory index falls in January

Factory activity slowed more than expected in the U.S. Mid-Atlantic region in January, paring expectations of manufacturing's role in helping a U.S. economic recovery, a survey showed on Thursday.

Clinton extols Internet freedom

Secretary of State Hillary Clinton unveiled a new US policy hoping to encourage the world governments to ensure their citizens have open access to the Internet.

Rescue teams pull back as Haiti aid flows in

Somalia's hardline al Shabaab rebels threatened on Thursday to attack neighbouring Kenya following a crackdown on Somalis in the capital Nairobi, according to a recording posted on an al Shabaab Web site.

Somali hardline rebels threaten Kenya attack

Somalia's hardline al Shabaab rebels threatened on Thursday to attack neighbouring Kenya following a crackdown on Somalis in the capital Nairobi, according to a recording posted on an al Shabaab Web site.

Obama proposes new limits on big U.S. banks

President Barack Obama proposed stricter limits on financial risk-taking on Thursday in a new populist-tinged move that sent bank shares lower and aimed to shore up his own political base.

Yemen stops airport visas to hamper militants

Yemen will stop issuing tourist visas on arrival to foreigners in an effort to prevent militants entering the country as it steps up its war on al Qaeda, a government official and state media said on Thursday.

Stocks drop as investors shun risk

U.S. stocks fell 1 percent on Thursday on uncertainty about the impact of proposed restrictions expected from the Obama administration on big banks.

Gates in Pakistan seeking action on Afghan Taliban

Pakistan ruled out any new offensive against militants Thursday, even as U.S. defence chief Robert Gates began meetings aimed at persuading the country to expand its military campaign to take on Afghanistan's Taliban.

GM to close Belgian Opel plant this year

Belgian Opel workers learned the Antwerp plant will close this year, with the loss of 2,600 jobs, as U.S. car maker General Motors said it would make labor and capacity cuts at all its European sites.

Salt reduction could save 92,000 lives a year

The benefit to the U.S. population would be comparable to cutting smoking by 50 percent, significantly lowering obesity rates and giving cholesterol drugs to virtually everyone to prevent heart attacks, said Dr. Kirsten Bibbins-Domingo of the University of California, San Francisco and colleagues.

Banks drag stocks lower on Obama proposal

The Dow and S&P 500 fell on Thursday as fears any proposed new restrictions by the Obama administration on big banks would cut profits at large trading firms like Goldman Sachs Group.

Report sees small Hollywood jobs recovery for 2010

A record breaking movie box office take in 2009 was not enough to stave off Hollywood job losses last year, but 2010 is expected to bring a modest recovery of up to 3,000 jobs, in part due to an increase in TV productions, according to an economic report released on Thursday.

Oil fluctuates around $78; China in focus

Oil rose near $78 a barrel on Thursday as worries that China will take further measures to temper its booming economy were overshadowed by its return to double-digit growth for the first time since 2008.

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