IBT Staff Reporter

China's state sports system certainly has its critics but many of those who have benefited from it are convinced it remains the secret of their country's sporting success.

Wireless chipmaker Qualcomm Inc.said on Wednesday an unfavorable ruling in a patent dispute with Broadcom Corp would hurt its business in the short term, sending its shares lower. A federal judge in California ruled on Monday that Qualcomm could sell through January 2009 some chips whose designs infringe three patents held by Broadcom, though it must pay royalties. After that, Qualcomm was permane...

National City Corp, one of the 10 largest U.S. banks, on Wednesday said it will cut its common stock dividend 49 percent and eliminate 900 jobs as it stops offering mortgages through brokers, and it plans to raise more capital to cope with weakened credit markets. The Cleveland-based company cut the quarterly dividend to 21 cents per share from 41 cents. Chief Executive Peter Raskind said the cut ...

Stocks looked set to open lower on Wednesday, with the focus on economic data for clues about the outlook for growth and the Federal Reserve's next monetary policy move. Worries about the still escalating U.S. housing crisis and its implications for the overall economy point to a subdued start to the new year, Germany's Postbank said in a daily note.

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Passengers are greeted with a new flight restriction from January 1, as the U.S. Transportation Department bars travelers from packing loose lithium batteries in checked luggage.

The storied rivalry between Jay Leno and David Letterman takes a new twist on Wednesday when the two stars of U.S. late-night television return to the air two months into a bitter strike by TV and film writers.

Pakistan plans to postpone next week's election after Benazir Bhutto's killing sparked turmoil in the nuclear-armed country, but officials put off a final announcement until Wednesday to consult parties.

A mob torched a Kenyan church on Tuesday, killing villagers cowering inside, as the death toll from ethnic riots triggered by President Mwai Kibaki's disputed re-election soared to nearly 200.

The Archbishop of Canterbury has followed the Queen's lead in posting his annual message on YouTube, where his green theme for the New Year is God doesn't do waste.

The Federal Communications Commission has approved new rules giving broadcasters more flexibility in making the switch to digital television from traditional analog signals.

The pace of existing home sales edged up in November from a record low, according to a report on Monday that offered some tentative signs of stabilization in the still-ailing housing market.

As more banks report write-downs tied to the global credit crunch, analysts say Wachovia Corp may have losses lurking in an area that has garnered less investor attention.

There is a reason people still buy CDs more than they do digital albums. Actually there are several, but viruses that come along with music via peer-to-peer sites (P2P) and a concern over digital rights management (DRM) aren't the only culprits.

That time of year is upon us again -- no, not the holiday season.

Wal-Mart Stores Inc quietly canceled its online video download service less than a year after the site went live

U.S. and European banks including Citigroup Inc and HSBC Holdings PLC are considering selling off

Former First Republic Bank shareholders sued Merrill Lynch & Co on Friday accusing the Wall Street investment bank and brokerage of hiding billions of dollars of losses related to subprime mortgages while the companies' merger was pending.

Macy's, Inc. on Friday announced the closing of nine underperforming Macy's stores, affecting 899 employees in Indiana, Louisiana, Ohio, Oklahoma, Texas and Utah.

The greenback extended its losses broadly after a report showed the nation's housing market deterioration has not ended yet. The dollar posed for the biggest weekly decline versus the euro. US new home sales fell from 728k to

President George W. Bush intends to veto defense authorization legislation over a provision that would imperil Iraqi assets held in the United States, the White House said on Friday.

Warren Buffett's Berkshire Hathaway Inc, in its second acquisition this week, agreed to buy the NRG NV reinsurance unit of ING Group NV for about 300 million euros ($441 million).

Here's a bad idea whose time has gone: Retirees should keep a lot of their money safe in bonds.

Maybe you've noticed that the customer is always right attitude is in short supply these days. Companies have embraced technologies and practices that marginalize the little guy.

Wondering where to put your money in 2008? It may seem like all the choices are bad, and I'm not talking about the presidential candidates. Stocks, bonds, real estate, and money market funds have all been underwhelming -- at best. Chinese stocks, gold, oil and India suggest bigger gains but also much bigger risks.

Benazir Bhutto was laid to rest next to her father in the family mausoleum on Friday after the opposition leader's assassination plunged Pakistan into crisis and triggered violent protests.

About 38 percent of U.S. consumers are watching TV shows online, 36 percent use their cell phones as entertainment devices and 45 percent are creating online content like Web sites, music, videos and blogs for others, according to a new-media survey from Deloitte & Touche.

U.S. and European banks including Citigroup Inc and HSBC Holdings PLC are considering selling off parts of their businesses as they prepare for tough times ahead, the Wall Street Journal reported.

Videos by a self-styled Obama Girl, a fan's tearful defense of Britney Spears and an attack by a herd of buffaloes on a pride of lions, were among the most popular clips on YouTube.com in 2007.