IBT Staff Reporter

A U.S. appeals court ruled on Friday that a California law restricting the sales and rental of violent video games to minors and imposing labeling requirements violates free speech guarantees. The Ninth U.S. Circuit Court of Appeals found that the labeling requirement unfairly forces video games to carry the state's controversial opinion about which games are violent. The 2005 law, which re...

U.S. stocks extended a rout on Friday after a top U.S. senator confirmed the market's worse fears, saying it may be necessary to nationalize some banks, as the S&P 500 closed in on an almost 12-year low. Senate Banking Committee Chairman Christopher Dodd said the nationalization of some banks could be needed at least for a short time, according to a Bloomberg report. The S&P briefly...

Texas billionaire Allen Stanford, accused of defrauding investors around the globe, stayed out of sight on Friday as governments and clients counted the cost of his alleged $8 billion securities scam.

No evidence has been found that securities were purchased for customer accounts at Bernard Madoff's operation in an investigation going back roughly 13 years into the purported $50 billion fraud, a court-appointed trustee said on Friday.

Zimbabwean President Robert Mugabe celebrates his 85th birthday on Saturday facing a tough year even by the standards of such a veteran political survivor

U.S. Consumer prices rose in January for the first time in six months as energy costs rebounded, government data showed on Friday, easing fears of deflation amid a severe economic downturn. The Labor Department said its closely-watched consumer price index rose 0.3 percent after dropping 0.8 percent in December. The modest uptick followed months of aggressive discounting by retailers seeking to s...

is one of Sweden's best-known brands. However, it said it needed a rapid restructuring in order to address the level of near-term losses and new funding from either private or public sources to launch more competitive models, and that it had to find a new partner. Surrounded by new and vintage Saabs in the company's museum showcasing its six decades of car making, Chief Executive Jan-Ake Jons...

Iran recently understated by a third how much uranium it had enriched and U.N. nuclear inspectors are working with Tehran to ensure such a significant gap does not recur, diplomats said Friday.

Electric cars emit gases indirectly if they use widely available power from fossil fuel electric plants which burn coal, natural gas and petroleum and release greenhouse gases including carbon dioxide.

U.S. Treasury debt prices gained on Friday as deepening anxiety about the fragile state of the banking system pummelled financial stocks, sending investors scrambling into comparatively safe government debt.

U.S. stocks fell on Friday, pinning the Dow to levels not seen for more than six years, as investors worried that a financial sector rescue might involve nationalization of major banks, wiping out shareholders. The mounting fear sent investors scurrying to the relative safety of U.S. government bonds and gold, which rose briefly above $1,000 an ounce. Shares of Bank of America fell...

In an event in Barcelona, Spain, a total of 1300 exhibitors registered in GSMA (Groupe Speciale Mobile Association) Mobile World Congress are gathered to showcase their newest technology and innovative mobile phones.

Department store operator J.C. Penney Co Inc posted a 51 percent drop in fourth quarter profit on Friday, and said its loss in the current quarter would be deeper than Wall Street estimates as shoppers hold off on spending. The most recent quarter's results were better than analysts expected, helped by efforts to cut inventory and expenses amid the weakest holiday shopping season i...

U.S. stocks fell on Friday, pinning the Dow to levels not seen for more than six years, as investors worried that a financial sector rescue might involve nationalization of major banks, wiping out shareholders. The mounting fear sent investors scurrying to the relative safety of U.S. government bonds and gold, which rose briefly above $1,000 an ounce. Shares of Bank of America fell...

The whereabouts of embattled Texas financier Allen Stanford were a mystery again Friday after the FBI served him a formal complaint in this historic hub noted for ghost stories. Television crews maintained a vigil outside the family home of a woman reputed to be a girlfriend of Stanford, but there were no signs that he was at the house overnight. Lights were out from early evening. The modest, t...

The Walt Disney Company has paid an undisclosed amount for Kerpoof Studios, a creator of online tools that kids can use to make artwork, write stories and create short movies.

they are sidelining the dollar strength, sidelining deflationary concerns and lower oil prices. They are very much buying gold as a safe-haven asset, Cooper said. There is potential for us to breach the $1,000 level. Saxo Bank senior manager Ole Hansen said the deteriorating macroeconomic picture and inflows into exchange-traded funds were currently the main influences on the gold price, n...

Citigroup Inc plans to sell its 17 percent stake in Brazilian credit card company Redecard, sources with direct knowledge of the plans said on Friday, potentially raising 3.05 billion reais ($1.27 billion) for the struggling U.S. banking giant.

Mining group Anglo American Plc (AAL.L) (AGLJ.J) scrapped its 2008 final dividend on Friday to conserve cash and said it will cut 19,000 jobs as it posted a 1 percent fall in profit, missing analysts' forecasts.

Right-wing leader Benjamin Netanyahu on Friday accepted a mandate to form Israel's next government and immediately called for a broad, national unity coalition with centrist and left-wing partners.

Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.

U.S. stocks tumbled on Friday, depressing the Dow to levels last seen more than six years ago as investors worried a financial sector rescue might involve nationalization of major banks, wiping out shareholders. The mounting fear sent investors scurrying to the relative safety of U.S. government bonds and gold, which rose above $1,000 an ounce. Shares of Bank of America tumbled mor...

U.S. stocks dropped at Friday's opening, extending a rout which has pulled the Dow Jones industrials to a fresh bear-market low, as worries about the fate of major banks escalated. * Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of U.S. government bonds as stocks plummeted in...

Shares of Bank of America Corp and Citigroup Inc plummeted for the sixth straight day on Friday, hammered by increasing fears that the U.S. government could take the control of the banks, wiping out shareholders. Bank of America shares were down 6.6 percent to $3.66 in premarket trading, their lowest level since 1984, while Citigroup fell 12.3 percent to $2.20, their lowest price since 1991. The ...

U.S. stocks headed for a drop at Friday's opening that would extend a rout which has pulled the Dow Jones industrials to a fresh bear-market low, as worries about the fate of major banks escalated. Fears that the U.S. government's bank rescue plan might involve nationalization and that the recession is worsening had investors scurrying toward the relative safety of U.S. government bonds as stoc...

U.S. consumer prices rose in January as energy costs rebounded, government data showed on Friday, temporarily easing fears of deflation amid a severe economic downturn. The Labor Department said its closely watched Consumer Price Index rose 0.3 percent, advancing for the first time since July, after falling 0.8 percent in December. The increase was bang in line with market expectations. U.S. sto...

Department store operator J.C. Penney Co Inc posted a higher-than-expected profit on Friday, but said its loss in the current quarter would be deeper than Wall Street estimates as shoppers hold off on spending. Penney's performance in its fourth quarter, which ended on January 31, benefited from the company's efforts to cut inventory and expenses during the weakest holiday shoppin...

U.S. consumer prices rose in January, advancing for the first time since July as energy costs rebounded, government data showed on Friday, but a severe economic downturn was likely to keep inflation pressures muted in the months ahead. The Labor Department said its closely watched Consumer Price Index rose 0.3 percent after falling 0.8 percent in December. Analysts polled by Reuters had forecast ...

U.S. consumer prices rose in January, advancing for the first time since July as energy costs rebounded, government data showed on Friday, but a severe economic downturn was likely to keep inflation pressures muted in the months ahead. The Labor Department said its closely watched Consumer Price Index rose 0.3 percent after falling 0.8 percent in December. Analysts polled by Reuters had forecast ...