IBT Staff Reporter

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Layaway, $15 toys among Walmart's holiday plans

Eager to keep its sales momentum growing, Wal-Mart Stores Inc is kicking off the holiday season early, cutting some toy prices in September, offering layaway in October and selling more Christmas decorations.

Bernanke says Fed seeks to restore strong growth

Federal Reserve Chairman Ben Bernanke on Thursday said the central bank would spare no effort to boost disappointingly weak growth and lower unemployment but offered no details of steps monetary policymakers might take.

Wall Street hits session lows

Stocks fell more than 1 percent on Thursday on investor disappointment that Federal Reserve Chairman Ben Bernanke gave no new details of steps policy makers might take to mend the economic recovery.

Australia's Westfield eyes Toronto development

Australian mall developer Westfield Group is looking at a possible investment in a waterfront site in Toronto, Canada, the company said on Thursday, after recently announcing expansions plans in Europe and South America.

California may give Amazon year-long tax reprieve

California lawmakers rushed to write a bill to give Amazon.com Inc a one-year reprieve from collecting certain sales taxes in exchange for dropping its ballot measure campaign to undo the tax, aides said on Thursday.

TSX shows little conviction before Obama speech

Toronto's main stock market index edged higher in cautious action on Thursday morning following weak U.S. jobs data and ahead of a speech by U.S. President Barack Obama detailing his plan for job creation.

Twitter now has 100 million active users, mobile surging

More than 100 million users are active and log onto Twitter daily, or about half its registered members, and a growing number are doing so from a plethora of mobile devices, Chief Executive Dick Costolo told reporters on Thursday.

China monetary tightening should continue: IMF

China should keep tightening monetary policy to fight inflation pressures even as the pace of global growth shows signs of faltering, the International Monetary Fund's China mission chief said on Thursday.

ECB signals rates on hold, nervous about economy

The European Central Bank signaled on Thursday that it had halted a cycle of interest rate rises begun just five months ago, saying euro zone inflation risks were no longer skewed to the upside and economic growth would be slow at best.

Mexico is most tolerant nation for sex scandals

When politician Dominique Strauss-Kahn arrived in France last week, cleared of a New York sex scandal, he returned home smiling despite facing a frosty reception. Maybe he should have gone to Mexico, instead.

Trichet comments at ECB news conference

Following are comments by European Central Bank President Jean-Claude Trichet at a news conference held after the bank's Governing Council left its benchmark interest rate at 1.5 percent on Thursday.

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