MARKETS / FINANCE

Two investors who say they have been making big money shorting Chinese stocks listed in the United States, fronted up to their adversaries this week -- in a mood to swagger.

New applications for U.S. jobless benefits dipped in the latest week but remained at levels that were too high to put a dent in the unemployment rate.

Stocks rose on Thursday as a mixed batch of data failed to deter buyers looking for bargains after a more than 7 percent selloff in the last few weeks.

A gauge of regional manufacturing activity slumped to a near two-year low in June, suggesting U.S. factories were faltering, overshadowing better than expected readings on the labor and housing markets.

International lenders scrambled to save Greece from default as Prime Minister George Papandreou struggled to quell a revolt in his socialist party against EU/IMF-ordained austerity measures.

Illinois based computer hardware and software supplier, in a poll conducted last month, confirmed that nearly 28 percent of all US organizations are using cloud computing and another 73 percent reported that their first access to cloud was through a single cloud application

Millionaires are less optimistic about the U.S. economy's prospects than their wealth advisers and are taking a cautious approach in their investments, according to a new data analysis released on Thursday from Fidelity Investments.

The number of Americans signing up for jobless benefits fell last week, while housing starts and building permits rose in May, offering some hope the economy could be starting to pull out of its soft patch.

Mexican Central Bank Governor and IMF-contender Agustin Carstens rebuked his European counterparts on Thursday for reneging on their promise to back a non-European to head the fund and vowed to give emerging powers more say if elected.

Allstate Corp , the largest publicly traded U.S. home and auto insurer, said it lost $2 billion in April and May from severe tornadoes and thunderstorms, nearly equaling its catastrophe losses for all of 2010.

China must boost its cyber-warfare strength to counter a Pentagon push, the country's top military newspaper said on Thursday after weeks of friction over accusations that Beijing may have launched a string of Internet hacking attacks.

New claims for unemployment benefits fell last week, while housing starts and permits for future construction rose in May, signs that offered some hope the economy could soon pull out of its soft patch.

Housing starts rose more than expected and permits for future construction touched a five month high in May, a government report showed on Thursday, but any recovery will be hampered by a glut of pre-owned homes.

The IMF will release crucial loans to save Greece from default despite a likely delay by the European Union in agreeing a second bailout for the heavily indebted state, euro zone sources said on Thursday.

World stocks hit a three-month low on Thursday, the euro tumbled and top-rated government bonds rose as investors began to price in a possibility of disorderly default in Greek sovereign debt.

Stock index futures dipped on Thursday as global equities tumbled on worries that the lack of a deal on how to handle the Greek debt crisis could trigger disorderly market moves and crimp liquidity.

The European bail-out fund should be doubled to 1.5 trillion euros ($2.15 trillion) if politicians want private sector investors to participate in a second bail-out package for Greece, a European Central Bank governing council member said.

Like many young people hungry for change in the Middle East, 21-year-old student Meran Mubarak is embracing social media as fast as telecommunications advances allow in his Iraqi Kurdistan homeland.

Stock index futures dipped on Thursday as global equities tumbled on worries that the lack of a deal on how to handle the Greek debt crisis could trigger disorderly market moves and crimp liquidity.

Mexican Central Bank Governor Agustin Carstens, who is contending to lead the International Monetary Fund, said on Thursday that he held fruitful talks with Chinese officials over his candidacy.

The China units of HSBC Holdings and Citigroup Inc have won initial approval to underwrite corporate debt in China, paving the way for them to be the first foreign banks to win the coveted licenses, sources told Reuters on Thursday.

A string of parliamentary resignations threw Greek Prime Minister George Papandreou's plan to reshuffle his cabinet and seek support for a crucial austerity package into disarray on Thursday.

Stock index futures pointed to a lower open on Wall Street on Thursday following the previous session's sharp losses, with futures for the S&P 500 down 0.21 percent and Dow Jones futures down 0.24 percent, while Nasdaq 100 futures were up 0.08 percent at 0941 GMT (5:41 a.m. ET).

Greek Prime Minister George Papandreou prepared to reshuffle his cabinet on Thursday and press ahead with a new round of austerity measures demanded by Greece's international lenders for the country to avoid default.

The public website of the Central Intelligence Agency went down on Wednesday evening as the hacker group Lulz Security said it had launched an attack.

Germany is no longer insisting on a bond swap that would extend Greek debt maturities by seven years as it pushes for a contribution from private bondholders to a new aid deal for Athens, the Financial Times reported.

Citigroup Inc said a cyber attack in May affected almost twice as many people as the bank's figures had initially suggested, as major U.S. lenders come under growing pressure from lawmakers to improve account security.

Asian stocks slid to their lowest level in nearly three months on Thursday and the euro wobbled as Greece's debt troubles deepened and fresh U.S. data indicated its economic soft patch could drag on longer than expected.

Alibaba Group said on Thursday it has reorganized Taobao, China's largest e-commerce website, into three separate companies to better capture opportunities in the industry.