Tuesday, August 3, 2010 | Last Update: 5:56 PM EDT

World Briefing

India requires 1,150 jets over 20 yrs

Indian Hawk

Air India said it has plans to acquire 27 Dreamliners from Boeing in phases

Stocks pause from recent rally

Traders work on the floor of the New York Stock Exchange in New York

After Monday's big rally, the stock market pulled back and re-assessed the state of the recover, given some weak earnings reports and poor economic data.

MasterCard profit rises 31 pct

The world's second-largest credit- and debit-card processing network, said its second-quarter profit rose 31 percent as the company reigned in expenses

Pfizer top estimates

Pfizer Inc. CEO Jeffrey Kindler

The world's largest drugmaker reported strong second quarter results, saying its profit jumped 9.5 percent on the back of Wyeth acquisition

Euro Zone PPI rises, misses mark

A sculpture showing the euro currency sign is seen in front of the European Central Bank (ECB) headquarters in Frankfurt

The industrial producer price index in the euro zone edged up 0.3 percent month-over-month in June – just below economists' forecasts of a 0.4 percent rise

Volvo workers go on strike

More than 600 workers of Volvo Buses India Pvt Ltd went on an indefinite strike on at their demanding reinstatement of those employees who were suspended

Kinross Gold to buy Red Back

Kinross

Canada's Kinross Gold Corp said it will buy 91 percent of Red Back Mining shares it doesn't already own for $7.1 billion to expand in West Africa.

Infineon In Talks For Wireless Division Sale

Infineon Technologies is in discussions to sell its wireless division, the company said today.

  • Subscribe

Analysis

1 of 3

Science, controversy and the politics of climate change

While scientists mostly agree that warming of the climate system is happening and political leaders have long-term commitments to try to reduce it, a debate still rages as to what to do in the near and medium term.

Chevrolet cars are seen in line at the parking lot of Tropical Miami General Motors dealership in Miami

Carlos Barria / Reuters

US automakers post better sales growth than Japanese giants

US automakers - General Motors Co., Ford Motor Co. and Chrysler Group LLC - beat Japanese giants Toyota Motor Corp. and Honda Motor Co. to post strong auto sales growth in July and indicated a recovery in the auto industry.

The new BlackBerry Torch 9800 smartphone is introduced at a news conference in New York

RIM takes aim at iPhone with Blackberry Torch

BlackBerry maker Research In Motion threw the gauntlet at iPhone maker Apple Inc., Tuesday, by unveiling its first slider-based multi-touch smartphone - Torch 9800

U.S. Attorney General Eric Holder

War against child predation escalates

The U.S. Department of Justice this week unveiled its national strategy for detecting, combating and preventing the exploitation of children in its many sordid forms.

Robert Tierney, chairman of the New York City Landmarks Preservation Commission speaks during a hearing considering whether to assign landmark status to a building on the proposed site of a planned Islamic center and mosque near Ground Zero on August 3, 2

Way cleared for Islamic center near Ground Zero

A New York City panel unanimously declined to protect a more than 150-year-old commercial building near the World Trade Center site, opening the way for its razing and the construction of a proposed Islamic center.

A British Petroleum logo is seen reflected in a car mirror at a petrol station in south London

BP to sell Colombian assets for $1.9 bln

British oil giant BP said it has agreed to sell its oil and gas exploration, production and transportation business in Colombia to a consortium of Ecopetrol and Talisman Energy for $1.9 billion in cash

A visitor looks at models of a North Korean Scud-B missile (1st R) and South Korean missiles at the Korean War Memorial Museum in Seoul November 4, 2009.

U.S. keeps pressure on North Korea

The U.S. will publicly name entities and individuals linked to aiding North Korea's missile and nuclear programs in the coming weeks.

Kindle

Amazon, Apple probed over e-book prices

Connecticut Attorney General Richard Blumenthal is investigating agreements between the country's largest e-book publishers and two of the largest sellers -- Amazon.com, Inc. and Apple, Inc.

Treasury Secretary Timothy Geithner meets with Federal Reserve Board Chairman Ben Bernanke and other heads of agencies in Washington

Fed quantitative easing may resume, economists puzzled and skeptical

The Wall Street Journal reported that Federal Reserve officials are considering a resumption of quantitative easing. Economists are puzzled by this move and doubtful that it can produce real benefits.

Inside IBTimes.com