IBT Staff Reporter

President Barack Obama on Saturday proposed an additional $313 billion in cuts to Medicare, Medicaid and other programs to pay for healthcare reforms expected to cost about $1 trillion over the next decade.

Jun 13, 2009

The world's rich nations have started to consider how they will unwind emergency steps to rescue their economies once recovery is certain, according to a draft statement from a meeting of Group of Eight finance ministers on Saturday.

Jun 13, 2009

Hardline President Mahmoud Ahmadinejad won re-election by a thumping margin, official figures showed Saturday, but his moderate challenger rejected the tally as a dangerous charade that could lead to tyranny.

Jun 13, 2009

Rich countries may act on their own to reduce greenhouse gas emissions by developing a carbon market they hope will lure in poor nations even if U.N. climate talks get bogged down, experts said.

Jun 13, 2009

California on Friday forecast high costs for the most ambitious clean energy plan in the nation, including a 28 percent rise in electricity rates and $115 billion in construction if the state wants to get a third of its electricity from renewable sources by 2020.

Jun 13, 2009

Deutsche Post will stop the evening flights of its domestic aircraft network that transport letters throughout the country and hopes to save 40-60 million euros annually as a result, a German weekly said.

Jun 13, 2009

Tiny carmaker Koenigsegg is ready to take over General Motor's loss-making Saab unit, and says it has numerous good solutions to help get the company back on its feet, its major shareholder told daily Dagbladet. A source familiar with the talks told Reuters this week that General Motors is close to selling its Saab unit to Koenigsegg, and that it was backed by Norwegian investors.

Jun 13, 2009

A majority of members in two families controlling Porsche back a deal for the Gulf state of Qatar to acquire a 25 percent stake in the German luxury carmaker, Der Spiegel magazine said.

Jun 13, 2009

U.S. Treasury Secretary Timothy Geithner said on Saturday it was too early to start withdrawing stimulus for the world's top economies, but governments should start to outline plans for future fiscal sustainability.

Jun 13, 2009

Japan is expected to impose its own sanctions against North Korea over its May 25 nuclear test, including suspending all trade, Kyodo news agency reported on Saturday.

Jun 13, 2009

Pakistani President Asif Ali Zardari said on Saturday the Taliban wanted to take over the country and vowed to fight against militancy to the end.

Jun 13, 2009

A Chinese submarine accidentally collided with an underwater sonar array being towed by a U.S. military ship, CNN reported on Friday, quoting an unnamed military official.

Jun 13, 2009

U.N. Security Council sanctions imposed on North Korea for its nuclear test may do little to change the ways of the reclusive state and could prod Pyongyang to stoke tensions with military moves, analysts said on Saturday.

Jun 13, 2009

U.S. President Barack Obama plans to pursue attempts to engage Tehran whether hard-line President Mahmoud Ahmadinejad or his moderate rival Mirhossein Mousavi ultimately emerges as the winner of Iran's election.

Jun 13, 2009

Hardline President Mahmoud Ahmadinejad resoundingly won Iran's election, preliminary official results showed on Saturday, but his moderate challenger alleged irregularities and claimed victory for himself.

Jun 13, 2009

Three Saudi nationals were transferred from the detention facility at Guantanamo Bay to the Kingdom of Saudi Arabia, the Department of Justice announced Friday.

Jun 12, 2009

The wave of bankruptcies that has eliminated dozens of U.S. retail chains could force landlords to rethink their traditional aversion to having small, independent retailers as tenants, a retail real estate expert said on Thursday.

Jun 12, 2009

Top Mexican broadcaster Televisa and its U.S. licensee Univision on Friday rested their cases in a lawsuit to determine if Televisa can transmit its TV shows to U.S. markets on the Internet.

Jun 12, 2009

Textron Inc's Cessna unit said it would cut another 1,300 jobs, underscoring the face of deteriorating demand for corporate aircraft and leaving the company with about half of its workforce remaining.

Jun 12, 2009

Boss too mean? Staff fond of slacking? It comes with the territory, says a new study that found personality traits have a big influence on your job.

Jun 12, 2009

The City Council of Cleburne Texas is hiring a geology consultant to study if natural gas drilling is causing the first recorded earthquakes in a 140-year history of the town.

Jun 12, 2009

Groups and politicians from around the nation expressed concerns as well as satisfaction after the Senate passed a bill to allow the Food and Drug Administration to regulate Tobacco.

Jun 12, 2009

Giant U.S. hog and pork producer Smithfield Foods Inc is widely expected to report losses for the quarter and fiscal year on Tuesday; its first yearly loss since 1975.

Jun 12, 2009

Virtually all dealers asked to do business with the new General Motors Corp after bankruptcy have agreed to do so, while the automaker will work through the weekend to weigh appeals from those that are being cut loose, the company's chief executive said on Friday.

Jun 12, 2009

Half of China's bankers think that the current monetary policy is too loose, and 60% of bankers believe the monetary policy will maintain the status quo, according to a survey by the People's Bank of China (PBC) released on Friday.

Jun 12, 2009

BlackRock Inc , the fund manager that has been one of the biggest winners of the credit crunch, has snapped up Barclays Global Investors for $13.5 billion in a deal creating the world's largest money manager.

Jun 12, 2009

The National Food and Drug Administration and Control (NAFDAC) of Nigeria said recently they have seized a large consignment of Chinese-made fake drugs labeled 'Made in India'.

Jun 12, 2009

State media declared President Mahmoud Ahmadinejad the winner of Iran's election on Friday, but challenger Mirhossein Mousavi alleged irregularities and claimed victory for himself.

Jun 12, 2009

Video game industry sales in the U.S. plunged 23 percent to $863 million in May compared with $1.12 billion a year ago, according to a new report.

Jun 12, 2009