IBT Staff Reporter

South Africa financial and law enforcement agencies are investigating a suspected corporate fraud case, worth up to $1.2 billion, the Financial Intelligence Center, tax authorities and Reserve Bank said in a joint statement on Sunday.

Deltek Inc on Monday said it has releases its Cobra 5.0, the cost engine for Earned Value Management solutions for government and businesses.

Hisense Group, one of China's top TV and appliance makers, is issuing 150 million shares, aiming to raise about RMB 1.5 billion($219 million).

Mexico now is embarking on a comprehensive strategy to cut emissions and reduce energy use while also potentially putting the Mexico economy on a low carbon growth path.

Shares of Nokia on Monday fell after it unveiled its new Smartphone E72, along with its new 5530 XpressMusic and 3710 fold, as it vies to competes against Apple’s iPhone and Palm’s Pre.

U.S. western states got the support from key Obama Administration officials on Monday to speed up the development of a solid renewable energy system in the region, at the Western Governors Association annual meeting at Park City, Utah today.

A Pennsylvania Court upheld a previous ruling on Monday that a local store cannot sell beer for takeout only because doing so would not be allowed under its retailer license.

The youngest son of North Korean leader Kim Jong-il secretly visited ally China around last week as a special envoy of his father and met with Chinese President Hu Jintao, Japan's Asahi newspaper reported on Tuesday.

The world's biggest emerging market powers will seek to craft a united front on repairing the global financial system when they meet for the first formal BRIC summit on Tuesday.

North Korean has warned on Monday it would launch a pre-emptive attack against the United States as about 10,000 people rallied to denounce a newly endorsed U.N. Security Council Resolution.

Dr. Donald Palmisano spokesman for the Coalition to Protect Patients’ Rights and former president of the American Medical Association said on Monday Obama “prescribed the wrong treatment” with his plans to improve the country’s healthcare system.

Solar, wind, geothermal and biomass energy technologies as they are today could technically contribute up to 10 percent of U.S. electricity by 2020 and 20 percent or more by 2035, the National Research Council said in a report Monday.

Technical analyst Robert Prechter on Monday said he sees the United States losing its top AAA credit rating by the end of 2010, as he stuck by a deeply bearish outlook on the U.S. economy and stock market.

Iran's hardline Islamic Basij militiamen killed at least one person on Monday and wounded more when their building was attacked by demonstrators protesting an election they say was stolen by President Mahmoud Ahmadinejad.

Bank of America Corp, hoping to repay $45 billion of government money, is less likely to raise the funds by selling its big stake in BlackRock Inc after the asset manager buys Barclays Global Investors, analysts said.

The head of the IMF warned on Monday it was too soon to discuss rolling back stimulus spending, saying the world economy had yet to weather the worst of a recession that has hammered industrial output and claimed a record number of European jobs.

The second bankruptcy auction for off-price retailer Filene's Basement was won on Monday by a joint $62.4 million bid by discount clothier Syms Corp and developer Vornado Realty Trust , a restructuring expert advising Boston-based Filene's said.

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Sun Microsystems Inc killed development of an advanced server chip it hoped would leapfrog its technology past rivals IBM and Intel Corp, the New York Times reported, citing people familiar with the matter.

Angela Merkel will meet U.S. President Barack Obama in Washington in late June for talks on Iran's presidential election, Middle East peace and next month's G8 summit, a spokesman for the German chancellor said on Monday.

The world's two largest cellphone makers, Nokia and Samsung Electronics Co Ltd, unveiled new phones on Monday, offering features comparable to iPhone and Pre, but at lower prices.

With two weeks left for the deadline on iron ore price negotiation, Brazil’s mining giant Vale expressed the importance of China’s market to its operations, easing the tense atmosphere and indicating desire to reach an agreement.

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Construction on the Hong Kong-Zhuhai-Macau Bridge is expected to start by year's end, Hong Kong ‘s Chief Secretary Henry Tang said on Monday, adding its completion “will benefit the three jurisdictions”.

NetLogic Microsystems Inc. said on Monday it has launched new availability of NETLite Processor that enables a multitude of intelligent packet-based protocols at wire-speed on multi-Gigabit systems at lower power consumption and higher port density.

Hong Kong's human swine flu tally has reached 104 with 12 new cases conformed, the Centre for Health Protection said on Monday.

Samsung Electronics Co Ltd, the world's second-biggest maker of mobile phones on Monday said it has launched a new S Series External Hard of 160 GB density for the 1.8 inch S1 Mini drive, along with its new touch screen mobile as it plans to expand its current market amid economic environment.

The Obama administration faces a dilemma over how to respond to Iran's disputed election. Analysts say that strong criticism could backfire but a muted response leaves an impression of weakness.

European planemaker Airbus took a step closer to winning government loans to develop its A350 jetliner on Monday, drawing an immediate response from U.S. rival Boeing which called the move illegal.