IBT Staff Reporter

UBS revealed a $10 billion writedown and an emergency injection of funds from Singapore and the Middle East, making it the biggest victim of the U.S. subprime crisis to date among major European banks.

Another U.S. Federal Reserve interest rate cut this week is a foregone conclusion as far as financial markets are concerned, but a heaping helping of global inflation data may leave a sour aftertaste. foregone conclusion as far as financial markets are concerned, but a heaping helping of global inflation data may leave a sour aftertaste. The Fed is widely expected to follow the central banks of Canada and England with a quarter-percentage-point reduction in the benchmark federal funds rate on Tuesday.

CompUSA, the computer retailer controlled by Mexican billionaire Carlos Slim was sold to an investment firm and will close all of its 103 stores after the holidays, the company said Friday.

A federal court denied a petition on Friday by Sprint Nextel Corp. and Qwest Communications International Inc. which challenged a decision made last year that gave Verizon Communications Inc. relief from pricing caps and regulations on broadband services.

AT&T Chief Executive Ralph de la Vega says AT&T users can use any device on its wireless network, adding that it is the most open wireless company, according to a recent interview.

Hundreds lined up for the opening of Apple’s newest retail store in New York on Friday, the first of the company’s locations with three stories and an entire floor dedicated to services.

Hackers have broken into a top U.S. military laboratory possibly leaking personal information about visitors, the lab said Friday.

NASA officials decided on Friday to delay the launch of the shuttle Atlantis yet again until Sunday as they continue to fix faulty fuel sensors.

It's easy to let your budget go out of control during the holidays. Be smart...

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China's bid to end fuel shortages only a temporary cap on the problem

Uganda confirmed 101 suspected cases of Ebola fever and hundreds more people being closely monitored, officials said on Friday, with growing fears the lethal virus may spread to neighboring countries.

The Launching of Atlantis space shuttle was delayed until Saturday, on allegations of problems associated with fuel sensors.

Imax Corp. shares gained momentum on Friday following AMC Entertainment Inc.'s announcement to install 100 digital projection screens over the next three years.

Crude oil fell on Friday in New York, on a report of higher than expected fuel inventories this week.

Macrovision Corp announced on Friday it would buy Gemstar-TV Guide International Inc for $2.8 billion in cash and stock to form a broad video entertainment distributor as investor concern over the deal’s price caused both companies’ shares to drop.

U.S. stocks on Friday, finished with a 2 percent weekly gain although investors remained cautious about next week's policy-setting meeting by the Federal Reserve.

The dollar rose again versus the yen on Friday after a U.S. government report showed employers added more jobs than expected in November, easing concerns about a possible recession.

U.S. stocks ended nearly flat on Friday after the U.S. government reported slower job growth than expected and a boost in inflation.

A leftist farmers' group has asked the United Nations to send Hollywood star Angelina Jolie to visit the Philippines to check on the rising number of people displaced by army offensives in the countryside.

A federal appeals court on Friday let stand a 2006 action by the U.S. Federal Communications Commission that lifted some regulations on Verizon Communications Inc's broadband business.

Russian President Vladimir Putin's United Russia party will name its candidate for next year's presidential vote on December 17 when it could become clearer who Putin wants to be his successor.

A federal appeals court on Friday let stand a 2006 action by the U.S. Federal Communications Commission that lifted some regulations on Verizon's broadband business.

Employers added 94,000 jobs in November, the Labor Department said on Friday in a report showing a slowdown in job creation in recent months that raises chances for a modest cut in interest rates next week. Analysts said continued gains in hiring showed the economy was not at immediate risk of crumbling onto recession but another report said consumers' moods grew darker in December.

Mike de la Cruz, a senior vice president with German software giant SAP AG, shows off the latest weapon of the corporate road warrior -- his iPhone.

At Apple Inc's new store in Manhattan, the smiling geniuses and concierges standing at attention are as important as the iPods and Mac computers on display.

United Airlines said on Friday that parent UAL Corp will pay shareholders $2.15 per share in a special payout totaling $250 million, marking a rare move by an airline to reward investors.

Few expected to see James Murdoch overtaking his elder brother Lachlan for their father's media empire.

Consider this scenario: In the week preceding the Academy Awards, the Academy president announces that if the strike is not settled by the time the Oscar broadcast is to air, then the show will not go on. Under no circumstances would we expect anyone to cross a picket line, the Academy president says.