IBT Staff Reporter

Vodafone, the world's largest mobile phone operator, missed quarterly revenue forecasts on Thursday as increasingly tough trading in Spain and Italy overshadowed solid performances in emerging markets and northern Europe.

Global miner Rio Tinto reported a 6 percent fall in second-half profit on Thursday, before $9.3 billion in writedowns mainly on its aluminum business, but appeased investors with a massive dividend hike.

JP Morgan has replaced Asia ex-Japan fixed income investor sales head Simon Derrick with Sharad Desai and Sudhir Goel as part of a reorganization of its business in the region, according to sources familiar with the matter.

All eyes will be on what the European Central Bank is willing to do to help Greece when it holds its monthly policy meeting on Thursday, with interest rates expected to stay on hold ahead of a major funding operation later this month.

Greek leaders failed on Thursday to agree on reforms and austerity measures, the price of a bailout to avoid a messy default, forcing Finance Minister Evangelos Venizelos to go to the country's financial backers with an incomplete deal.

The rally in the euro and European shares advanced on Thursday as Greece edged closer to a bailout deal and on expectations the Bank of England and the European Central Bank will maintain support for the move into riskier assets.

Qantas Airways and Korean Air will carry out inspections for wing cracks on their Airbus A380 superjumbo planes earlier than previously scheduled, after European air safety officials ordered global checks, warning of a safety risk if the defects were not fixed.

More than three quarters of U.S. company bosses think that the federal government did not do its part to effectively deal with the implications of the global economic crisis.

China's Lenovo Group Ltd, the world's No.2 PC maker, plans to sell smart televisions in China and has no immediate plans to ship overseas due to a lack of content, CEO Yang Yuanqing said on Thursday.

Shares struggled but the euro recovered on Thursday, as markets were left without a clear direction after Greek political leaders failed again to conclude a deal for a bailout package, which Athens needs to avoid a messy debt default.

A new crop of companies entering the U.S. public markets, including such high-profile offerings as Facebook, are turning the clock back on the way U.S. corporations are run.

Greek political leaders failed early on Thursday to sign off on a tough reform and austerity program, the price of a new international bailout for the nation, but Prime Minister Lucas Papademos said they would try to strike a deal within hours.

Diamond Foods Inc removed top management after a probe by its audit committee found that the company improperly accounted for payments to walnut growers, sending its shares down 40 percent in after-hours trading.

A few months ago economists were all but certain the U.S. economy would slow sharply at the start of this year, with many warning that recession risks were growing.

Groupon Inc shares slumped Wednesday as the daily deal company's first quarterly results since it went public stoked concern about limited disclosure and slowing growth.

California and New York, two key holdout states for a multi-state mortgage settlement, are expected to join the deal, smoothing the way for an announcement expected on Thursday, according to a person familiar with the matter.

California and New York, two big holdout states in a $25 billion mortgage settlement, are expected to join the deal, smoothing the way for an announcement on Thursday, according to a person familiar with the matter.

California and New York, two big holdout states in a $25 billion mortgage settlement, are expected to join the deal, smoothing the way for an announcement on Thursday, according to a person familiar with the matter.

U.S. prosecutors expanded a criminal case over the alleged theft of industrial secrets from chemical giant DuPont , securing an indictment against a Chinese company on economic espionage-related charges.

California and New York, two key holdout states for a multi-state mortgage settlement, are expected to join the deal, smoothing the way for an announcement expected on Thursday, according to a person familiar with the matter.

Foreign and U.S. banks warned lawmakers on Wednesday that broad application of U.S. swaps rules could undermine U.S. competitiveness abroad, increase the cost of hedging and even provoke brinkmanship among international regulators.

Greek political leaders failed early on Thursday to sign off on a tough reform and austerity program, the price of a new international bailout for the nation, but Prime Minister Lucas Papademos said they would try to strike a deal within hours.

Network equipment maker Cisco Systems Inc promised further revenue growth after its second quarter results beat estimates, thanks to a restructuring, leading to a dividend increase.

BP Plc won a court order keeping several potentially damaging emails out of a scheduled trial to determine responsibility for the 2010 Gulf of Mexico oil spill.

Some American Airlines unsecured creditors increasingly feel the bankrupt airline should explore a deal with US Airways Group or another carrier, after hearing parent company AMR Corp's plan to remain independent, people familiar with the situation said.

Some American Airlines unsecured creditors increasingly feel the bankrupt airline should explore a deal with US Airways Group or another carrier, after hearing parent company AMR Corp's plan to remain independent, people familiar with the situation said.

The watchdog board for corporate auditors on Wednesday said it has imposed a $2 million penalty, its largest fine ever, on accounting and consulting firm Ernst & Young LLP in a settlement involving past audits of Medicis Pharmaceutical Corp.

The watchdog board for corporate auditors on Wednesday said it has imposed a $2 million penalty, its largest fine ever, on accounting and consulting firm Ernst & Young LLP in a settlement involving past audits of Medicis Pharmaceutical Corp.

Internet content delivery company Akamai Technologies Inc posted a fourth-quarter profit above analysts' expectations, helped by growing demand for online content, sending its shares up 12 percent in trading after the bell.