1. Canada to press ahead with planned spending cuts


    The cuts are part of a government plan to eliminate the budget deficit by finding C$4 billion ($3.9 billion) a year in savings by 2014-15 from an envelope of C$80 billion, or about 5 percent of overall spending.

  2. Outkast rapper Big Boi to settle drug charges


    In court on Thursday, the 36-year-old rapper accepted an agreement that could lead to the two felony drug possession charges he faces being dropped.Big Boi will be required to report to court for monthly drug tests for three months, the Miami prosecutor’s office said. He must complete 30 hours of community service and donate $2,000 to charities.The charges will be dropped if he remains drug-free and stays out of trouble for three months, but will be refiled if he does not meet all the conditions, according to prosecutors.Defense attorney Richard Hersch said Big Boi was eligible for the judicial monitoring program because he has a clean record and does not have a problem with substance abuse.”There’s no admission of guilt that is involved with it,” Hersch told Reuters.Outkast was formed by Andre Benjamin (who later became known as Andre 3000) and Patton (Big Boi) in the 1990s with a distinct brand of southern-influenced hip hop music. The pair scored several hits over the years including pop song “Hey Ya” from 2003 album, Speakerboxxx/The Love Below.

  3. Peabody says China clears $4.7 bln Macarthur takeover bid


    Chinese regulatory approval was required because China is a major customer of pulverised coal injection (PCI) metallurgical coal and Macarthur controls a substantial slice of that market.”This action from MOFCOM now clears the way for us to complete this transaction in a timely manner,” said Peabody Energy Chairman and Chief Executive Gregory H. Boyce.Peabody and ArcelorMittal have extended their takeover bid to Oct. 28.Macarthur has accepted a sweetened offer from Peabody and Arcelor after failing to find a rival bidder.PEAMCoal currently has a 22.7 percent stake in Macarthur.