IBT Staff Reporter

JPMorgan Chase & Co's quarterly earnings fell 25 percent, excluding an accounting gain, as European financial turmoil reduced demand for securities underwriting and acquisition advice.

Raj Rajaratnam, a self-made hedge fund tycoon convicted in the biggest Wall Street trading scandal in a generation, was ordered to serve 11 years in prison, the longest sentence ever in an insider-trading case but far less than prosecutors sought.

- Oshkosh Corp has been a rare lifeline for the beleaguered United Auto Workers, one of the few American manufacturers to have added significantly to its ranks of well-paid union workers in a brutal decade for factory hands.

Northrop Grumman Corp on Thursday pulled out of the 2012 international air show in Farnborough, England, a dramatic move underscoring the company's drive to cut costs as it prepares for leaner times in the global defense market.

Apple Inc's iPhone 4S finally went on sale in stores around the globe on Friday, with fans snapping up the final gadget unveiled during Steve Jobs' lifetime, many buying the phone as a tribute to the former Apple boss.

Swedish startup Rebtel, the second largest mobile Internet telephony firm after Skype, expects sales to surge next year based on strong initial demand for its new application combining Internet calls and traditional calling.

Fitch Ratings downgraded UBS AG on Thursday and placed seven other U.S. and European banks on credit watch negative, citing challenges in the economy and financial markets, as well as the impact of new regulations.

Following are upcoming events linked to the debt crisis in the euro zone:

Swedish startup Rebtel, the second largest mobile Internet telephony firm after Skype, expects sales to surge next year based on strong initial demand for its new application combining Internet calls and traditional calling.

Reports that Sony could take control of Sony Ericsson are likely to overshadow the handset maker's third-quarter results on Friday, when it is expected to show that a beefed-up smartphone line helped it to make a small profit.

Spotify, the European music streaming service backed by digital entrepreneur Sean Parker, has more than 250,000 paying users in the United States since it opened up shop in July, according to three people familiar with its data.

Google Inc's third-quarter results trounced Wall Street expectations as good cost controls helped boost the Internet search leader's profit by about 26 percent.

The Dow and S&P 500 slipped on Thursday after JPMorgan's earnings and China's soft trade data revived worries about the impact of slower growth on profits.

MetroPCS Communications Inc sees itself as uniquely positioned to forge a spectrum deal with Clearwire Corp .

A Chinese Internet regulator on Thursday called for stricter policing of the nation's microblogs while also encouraging officials to use them to engage with citizens, state news agency Xinhua reported.

Fitch Ratings placed Bank of America Corp , Morgan Stanley and Goldman Sachs Group Inc on review for possible downgrades on Thursday.

Gap plans to focus on international expansion, closing stores in North America while opening them in Asia.

Netflix Inc's U.S. customers will be able to watch shows like Gossip Girl and The Vampire Diaries online after it signed programing deals with CBS Corp and Warner Bros for shows from their joint venture, The CW television network.

Former Michigan Gov. Jennifer Granholm has quit the Dow Chemical Co.'s board of directors to host a political TV show on Al Gore's cable TV network.

The number of Americans filing new claims for jobless benefits dipped last week and the U.S. trade deficit narrowed slightly in August, signs that point to a slight strengthening in growth.

Cerberus Capital Management and Chatham Lodging Trust have reached a tentative agreement to buy bankrupt Innkeepers USA Trust at a lower price than in an earlier deal that fell apart, a source close to the talks said.

Tokyo Electric Power Co <9501.T> will ask lenders to maintain their 2 trillion yen ($26.03 billion) in financing for 10 years as it restructures and pays compensation related to the Fukushima Daiichi nuclear plant meltdown, the Nikkei said.

Taiwan's Foxconn confirmed it will start producing iPads in Brazil in December but is still negotiating a multibillion-dollar expansion plan in the country, senior company and government officials said on Thursday.

Two polls released on Thursday show different pictures of the race between former CEO Herman Cain and former Massachusetts Gov. Mitt Romney -- but in both polls, President Barack Obama leads no matter who the Republican nominee is.

Gap Inc is looking to simplify its clothing offerings, dab in more color, and de-clutter its North American namesake stores to help boost sluggish sales at the chain.

Katherine Heigl might be coming back to the small screen -- as a producer.

A big year in bird-watching circles -- call them birders, please -- is an unofficial annual competition in which amateur ornithophiles (or, perhaps, ornithomaniacs) compete to see the biggest number of separate species in a particular region over the course of one year. There's no prize and not much glory, but it's a quest that sends the most dedicated to travel widely for 12 months in order to claim victory.

The Dow and S&P 500 slipped on Thursday as JPMorgan's earnings and China's soft economic data increased worries about the impact of slower growth on third-quarter profits.

The Lone Ranger is officially back on.