IBT Staff Reporter

Wireless tower firm American Tower Corp (AMT.N) is expected to take a controlling stake in India's Essar Telecom Infrastructure in a deal valued at $350-$400 million, the Economic Times reported on Thursday.

Egypt's telecom regulator has delayed by two months the deadline for bids for two restricted licences to supply cable, voice and Internet services, its head said on Thursday.

Shares of AOL Inc fell about 2 percent on their return to trading on the New York Stock Exchange on Thursday, following the Internet company's spin-off from Time Warner Inc, while shares of AOL's former parent rose.

India may impose a penalty on Reliance Communications Ltd (RLCM.BO) after examining a state audit report that found the No. 2 telecoms firm under-reported revenue for two years, the telecoms minister said on Thursday.

Transparency critic Lumumba D'aping attended an informal meeting ahead of the global climate conference where the allegedly leaked “Danish text” proposals were circulated, the U.N. Climate Chief said Wednesday.

The U.S. economy is struggling against headwinds that mean the government must retain the ability to respond to unexpected crises, even as it starts to wind down emergency programs, Treasury Secretary Timothy Geithner said on Thursday.

Bargain-seekers continued to flock to retailers offering low prices, giving Costco Wholesale Corp and newly public discounter Dollar General Corp a lift last quarter.

Sistema Shyam Teleservices, the Indian mobile unit of Russian oil-to-telecoms group Sistema (SSAq.L), has approved a new share issue that could raise nearly 35 billion rupees ($750 million), Sistema said on Thursday.

British Prime Minister Gordon Brown and French President Nicolas Sarkozy are in complete agreement on moves to tax bankers' bonuses, Brown's spokesman said on Thursday after the two leaders met.

CIT Group Inc's new shares rose as much as 6 percent from opening levels in their debut on the New York Stock Exchange on Thursday as the lender to small businesses emerged from one of the largest bankruptcies in U.S. history.

Citigroup Inc is talking with the U.S. government about paying back its bailout money, but it is not clear whether a deal is imminent, a person familiar with the matter said on Thursday.

The number of U.S. workers filing new claims for jobless benefits rose more than expected last week, but a surprise narrowing in the trade gap in October indicated the economy remained firmly on a steady growth path.

A consortium including Google and KDDI Corp has signed a deal on Thursday to build and operate an international undersea cable system, estimated to cost $400 million.

Stocks advanced on Thursday as data showed continuing claims for jobless benefits fell while the trade gap unexpectedly narrowed for October, which should provide a lift to the economy.

As the tally of alleged mistresses continues to rise, text messages Tiger Woods allegedly exchanged with his mistresses continue to be released.

The head of GM's Buick and GMC brands has resigned after only nine days on the job in a continuing shakeup of the automaker's top ranks under Chairman and Chief Executive Ed Whitacre.

General Electric Co said on Thursday it won a $1.4 billion contract from energy producer Caithness Energy LLC to supply wind turbines for what will eventually be the world's biggest wind farm.

Eli Lilly and Co forecast 2010 earnings in line with Wall Street expectations, but suggested earnings could fall after its biggest drugs lose patent protection between 2011 and 2014.

The U.S. economy is struggling against headwinds that mean the government must retain the ability to respond to unexpected crises, even as it starts to wind down emergency programs, Treasury Secretary Timothy Geithner said on Thursday.

Accepting his Nobel Peace Prize, U.S. President Barack Obama urged leaders on Thursday to confront climate change and warned of dire consequences if the world did nothing to curb rising carbon emissions.

The United States, Britain and France warned Iran on Thursday that it would face further sanctions if it continued to flout international demands that it halt sensitive nuclear activities.

Stocks advanced on Thursday as data showed continuing claims for jobless benefits dropped while the trade gap unexpectedly narrowed for October, which should provide a lift to economic growth.

Billionaire financier George Soros outlined a way to unlock $100 billion (61.5 billion pounds) to help slow global warming on Thursday as talks on a new U.N. climate deal slowed over tough demands by the Pacific island state of Tuvalu.

Citigroup Inc is talking to the U.S. government about paying back its bailout money, but it is not clear if a deal is imminent, a person familiar with the matter said on Thursday.

Thousands of supporters of former Thai premier Thaksin Shinawatra rallied in Bangkok on Thursday, turning up the heat on Thailand's embattled government ahead of big protests planned for January in a push for new elections.

Prime Minister Gordon Brown and French President Nicolas Sarkozy called for an exceptional tax on global bank bonuses in a joint newspaper column on Thursday.

Iraqi insurgents linked with al Qaeda claimed responsibility for bombings that killed 112 people this week and said their campaign of violence would continue, according to an Islamist website.

Chinese thin film solar company Trony Solar Holdings Co Ltd has postponed its initial public offering indefinitely, an underwriter said on Thursday.

The U.S. envoy for North Korea failed to secure a firm commitment from the isolated state to resume nuclear disarmament negotiations but said on Thursday he had won assurance that it supported the languishing deal.