IBT Staff Reporter

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Investor sues Revlon chairman over stock swap

Revlon Inc's chairman and majority shareholder Ronald Perelman was sued by an investor who exchanged his common stock for preferred shares, alleging that he missed out on a sharp rally in the cosmetic maker's stock price.

What was that you said Senator Reid?

For months, Senate Democratic leader Harry Reid exhorted his fellow senators to vote yes on healthcare reform. But when the big moment came on Thursday, he momentarily voted no -- by mistake.

House-Senate health talks: A difficult final act

After months of political brawling in the Congress, the final act of the healthcare fight -- negotiations between the House of Representatives and Senate -- could be the most contentious stage of all.

EU carbon falls on lower German power

European carbon prices fell on Thursday, pressured by lower German power prices. EU Allowances for December 2010 delivery lost 22 cents or 1.7 percent at 12.78 euros a tonne on around 160 lots traded by 0935 GMT.

Obama says disappointment at Copenhagen justified

President Barack Obama said on Wednesday that disappointment over the outcome of the Copenhagen climate change summit was justified, hardening a widespread verdict that the conference had been a failure.

Senate approves landmark healthcare overhaul

The Senate approved President Barack Obama's landmark healthcare overhaul on Thursday, backing sweeping changes in the medical insurance market and new coverage for tens of millions of uninsured Americans.

Buffett: It's simple, railroads are not pet rocks

When Warren Buffett said last month that his Berkshire Hathaway Inc was buying Burlington Northern Santa Fe Corp for $26 billion, he characterized the deal as an all-in wager on the economic future of the United States.

Data lifts stocks to 2009 highs on Christmas Eve

U.S. stocks rallied in a brief pre-holiday session on Thursday, closing at 2009 highs, after data showing a drop in initial jobless claims and growth in durable goods orders suggested an economic recovery was picking up steam.

Stocks extend gains on U.S. data; dollar slips

U.S. and European stocks hit more than one-year closing highs on Thursday after better-than-expected U.S. jobless claims and durable goods orders drove optimism that the economic recovery is gaining hold, while the dollar slipped after a recent rally.

Where is Santa now? Google can tell you

The Northern American Aerospace Defense Command (NORAD) is partnering with Google to track Santa, so all the world's good boys and girls can follow along online.

Durable orders up, jobless claims at 15-month low

New orders for long-lasting U.S. manufactured goods, excluding transportation items, surged in November and new applications for jobless aid hit the lowest level in 15 months last week, pointing to a firmly entrenched economic recovery.

Saab deal hopes fade, GM presses on with wind down

General Motors Co is pressing ahead with plans to shut down Saab as chances of a deal to sell the Swedish brand to Dutch sports car builder Spyker Cars remain remote, a person familiar with the planning said on Thursday.

Stocks hit 2009 highs on data in short session

U.S. stocks rallied in a brief pre-holiday session on Thursday after data showing a drop in initial jobless claims and growth in durable goods orders suggested an economic recovery was picking up steam.

Madoff treated for face, rib injuries-report

Disgraced financier Bernard Madoff was hospitalized late last week and treated for facial fractures, broken ribs and a collapsed lung, a Raleigh, North Carolina television station reported on its Web site on Thursday.

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