UNITED STATES

The Obama administration said it will give $3 billion in government funds for renewable energy projects. Yang Rong, an exile automobile tycoon will announce a plan to launch a new clean-tech automobile company in the U.S.

Sprint Nextel Corp said on Thursday that Ericsson would manage its network as part of a seven-year deal worth $4.5 billion to $5 billion under which 6,000 Sprint workers would move to Ericsson.

Oil prices steadied at $60 a barrel on Thursday after a six-day slide as a drop in U.S. jobless claims fueled optimism about the economy.

China overtook the United States as the world's biggest auto market for the first half of 2009 after June sales soared 36.5% from a year earlier, according to official data released on Thursday.

American International Group Inc , the insurer rescued by a series of federal bailouts, may have zero equity value due to the risk of more credit default swap losses and the disposal of key assets at low valuations, Citigroup said.

The number of U.S. workers filing new claims for jobless benefits fell to the lowest level since January, but the seasonally adjusted data was distorted by an unusual pattern of layoffs in the automotive industry.

The Nasdaq and the S&P 500 rose slightly on Thursday as investors unloaded consumer staple and healthcare stocks and bought technology and commodity-related shares.

A fresh wave of cyber attacks that slowed U.S. and South Korean websites this week hit more targets on Thursday, a Web security firm said, while the South's spy agency has said the hacking may be linked to North Korea.

A fresh wave of cyber attacks that slowed U.S. and South Korean websites this week hit more targets on Thursday, a Web security firm said, while the South's spy agency has said the hacking may be linked to North Korea.

Citigroup said there is a high probability that American International Group Inc's equity value is zero, given the risk of more credit default swap losses and the management's eagerness to dispose of key businesses at low valuations.

Michael Jackson's tear jerking memorial was watched by over 31.1 million people across 18 U.S. TV networks and cable outlets, less than Obama's inauguration but about the same as 'American Idol'.

The program, which could be extended by lawmakers, is the latest of a variety of enticements offered to car buyers in the downturn.

Yang Rong, a Chinese automobile tycoon who fled the country after being accused of economic crimes, is preparing to launch an ambitious plan to make clean-tech cars in the United States, said a source.

The number of U.S. workers filing new claims for jobless benefits fell sharply last week but the data was distorted by an unusual pattern of layoffs in the automotive industry, which amplified the decline

June sales fell for most U.S. retailers as the plunging job market and cool, rainy weather dampened interest in summer shopping for consumers, triggering concern about the back-to-school season.

Oil reversed early gains and dropped below $60 a barrel on Thursday as a downturn in U.S. equities added to pressure from high U.S. oil inventories and persistent concerns about the timing of any economic recovery.

The U.S. military on Thursday handed over to Iraqi authorities five Iranian officials it had detained in Iraq, and they would be transferred to Tehran shortly, Iraqi and Iranian officials said.

An explosion outside a school south of the Afghan capital on Thursday killed at least 25 people, including 15 students, officials said, the worst toll from a single blast in a year.

U.S. President Barack Obama said at the G8 summit on Thursday there is still time to close the gap with developing powers on climate change, after the U.N. chief criticised the G8 for not going hard enough.

Major oil company Royal Dutch Shell urged the U.S. Senate on Wednesday to give oil refiners a bigger share of free pollution permits under a cap-and-trade plan to fight global warming than the House of Representatives provided in its climate change legislation.

Leaders of the world's richest nations and major developing powers meet on Thursday to seek common ground on global warming and international trade, with the poorer countries seeking concessions.