IBT Staff Reporter

The European Central Bank acted to soften a looming recession and avert a credit crunch in the debt-plagued euro zone by cutting interest rates on Thursday as European Union leaders prepared for a crucial summit.

Stock index futures were little changed on Thursday after investors pushed up stocks for three straight sessions, betting leaders come up with a solution to Eurozone debt crisis at an upcoming summit.

The Japanese government may inject about $13 billion into Tokyo Electric Power Co <9501.T> as early as next summer in a de facto nationalization of the operator of the crippled Fukushima nuclear power plant, sources said on Thursday.

A ruptured hull in the world's largest dry bulk ship could sink Vale's multi-billion dollar plan for a flotilla of giant vessels to link its iron ore mines to the mills of top steelmaker China.

Former MF Global chief Jon Corzine apologized to customers, employees and investors who have suffered because of the brokerage firm's collapse, but said he does not know where missing customer money is.

Stock index futures were little changed on Thursday after investors pushed up stocks for three straight sessions, betting leaders come up with a solution to euro zone debt crisis at an upcoming summit.

Alibaba Group is seeking up to $4 billion in debt financing, sources familiar with the matter said on Thursday, in a deal expected to help the Chinese e-commerce giant buy back a 40 percent stake in the company owned by Yahoo Inc.

The European Central Bank cut interest rates by a quarter of a point on Thursday to counter the twin threats of recession and deflation in the Eurozone, and is expected to unveil fresh measures to help banks hurt by the bloc's debt crisis.

Stock index futures dipped on Thursday after three straight winning sessions as investors bet leaders at a euro zone summit will come up with a solution to the region's debt crisis.

For Hungarian businessman Ervin Majdan, membership of the European Union used to be a one-way ticket to prosperity.

The ECB is expected to cut rates and unveil a new package of bank aid on Thursday, with markets also watching for any hint it will intensify its bond buying support for the bloc's struggling periphery, setting the stage for a critical euro zone summit.

The Japanese government may inject between $13 billion and $19 billion into Tokyo Electric Power Co <9501.T> in a de facto nationalization of the operator of the crippled Fukushima nuclear power plant, domestic media reported on Thursday.

Stock index futures pointed to a dip at the open on Wall Street on Thursday, with futures for the S&P 500 down 0.16 percent, Dow Jones down 0.17 percent and Nasdaq 100 down 0.06 percent at 5:30 a.m. ET.

Alibaba Group is seeking up to $4 billion in debt financing, sources said on Thursday, in a deal expected to help the Chinese e-commerce giant buy back a 40 percent stake in the company owned by Yahoo Inc.

Stock index futures pointed to a dip at the open on Wall Street on Thursday, with futures for the S&P 500 down 0.16 percent, Dow Jones down 0.17 percent and Nasdaq 100 down 0.06 percent at 5:30 a.m.

The Japanese government may inject between $13 billion and $19 billion into Tokyo Electric Power Co <9501.T> in a de facto nationalization of the operator of the crippled Fukushima nuclear power plant, domestic media reported on Thursday.

World stocks nudged up and the euro held its ground on Wednesday as a crucial period for the euro zone began, with investors expecting the bloc's central bank to cut rates and its leaders to agree a plan to solve the region's debt crisis.

Two Chinese appliance and electronics retailers, regarded by some as the country's answers to Best Buy Co Inc , are racing to beef up their e-commerce arms and tap the booming but highly competitive online retail market.

The Japanese government may inject between $13 billion and $19 billion into Tokyo Electric Power Co <9501.T> in a de facto nationalization of the operator of the crippled Fukushima nuclear power plant, domestic media reported on Thursday.

Nintendo Co Ltd on Thursday denied a report that Shigeru Miyamoto, widely seen as the world's most influential games designer, would step down from his current position and take a smaller role in the company.

European stocks rose while bonds and the euro were mostly steady on Thursday ahead of a European Central Bank meeting that is expected to cut interest rates, the first act in two crunch days for efforts to quell the euro zone's debt crisis.

Asian shares fell on Thursday as doubts set in about whether European leaders can agree on a plan to tackle the euro zone's two-year-old debt crisis at a high-stakes summit on Friday.

General Electric Co and Microsoft Corp are forming a joint venture to develop and sell software systems to make it easier for healthcare providers to store, access and share patient information.

A Japanese government official said on Thursday he had not heard of a reported $600 billion IMF lending facility to help the euro zone, although Japan would consider providing bilateral loans to the Fund if warranted by developments in Europe.

The answer to the Final Jeopardy! question of who will be the first director of the Consumer Financial Protection Bureau will not become known on Thursday.

Asia's economic growth looks set to stumble over the next few months, prompting a flurry of interest rate cuts and a spike in stimulus spending that may ultimately pave the way for a strong recovery in the second half of 2012.

Rick Perry may be forgetful when it comes to stuff like which cabinet departments he'd like to eliminate, or the legal voting age in the United States, but when it comes to gay-bashing, the Texas governor and Republican presidential hopeful is right on top of his game.

Pssst ... wanna see naked pictures of Lindsay Lohan?

Morten Tyldum, the Norwegian director of Headhunters -- the most successful Norwegian film in history -- has signed on to the thriller What Happened to Monday? Vendome Pictures announced Wednesday.