IBT Staff Reporter

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ECB holds rates as recession fears mount

The European Central Bank held interest rates at 1.5 percent on Thursday and is likely to indicate that a policy tightening cycle it began in April is on hold in the face of growing evidence the euro zone's economic recovery is losing momentum.

ECB to signal change in policy tack

The European Central Bank is expected to signal a change in policy direction on Thursday, halting an interest-rate rise cycle just five months after it started as the euro zone debt crisis weighs on the economy.

OECD says growth outlook has got much worse

The outlook for economic growth in developed countries has got much worse in the last three months, the OECD said on Thursday and urged central banks to keep rates low and be ready to pursue other forms of easing.

Apple Taps Japan Court to Ban Sales of Samsung Phones

Apple is seeking to ban sales of some Samsung Electronics gadgets in Japan, accusing its rival of violating patents relating to the iPhone and iPad, the latest salvo in a series of patent battles between the two companies.

Wall Street seen opening higher

Stock index futures pointed to a firmer open on Wall Street on Thursday, with futures for the S&P 500, Dow Jones and Nasdaq 100 flat to 0.2 percent higher at 0916 GMT.

Some fearful China billionaires steer clear of rich

Growing numbers of China's rich want to avoid publicizing their wealth, Forbes said, reflecting fears of official scrutiny amid a vast and growing rich-poor divide after several billionaires have ended up in jail.

Gartner slashes 2011 PC market growth forecast

Research firm Gartner slashed its growth forecast for the global PC market this year to 3.8 percent from its earlier forecast of 9.3 percent, citing slower economies in Western Europe and the United States.

Swiss face up to a franc mountain

In early August, Philipp Hildebrand pulled out of an expedition to mark the bicentennial of the first ascent of the Jungfrau, one of the highest mountains in the Alps.

Hitachi buys U.S. data storage firm BlueArc

Hitachi Ltd <6501.T> said on Thursday it has bought struggling California-based network storage company BlueArc Corp in an all-cash transaction after a five-year OEM partnership, in the latest such move to take advantage of the yen's strength.

Apple sues Samsung in Japan over patents: report

Apple is suing Samsung Electronics in Japan, accusing it of patent violations relating to the iPhone and iPad, Kyodo news agency said, the latest salvo in a series of patent battles between the two firms.

Euro slips, stock rebound fades ahead of ECB

The euro slipped on Thursday ahead of a European Central Bank meeting that is expected to call a halt to its rate tightening cycle to support economies battered by a two-year-old sovereign debt crisis, while a stock rally ran out of steam.

Euro slips, but stocks seen up ahead of ECB

The euro slipped and European stock index futures inched up on Thursday ahead of a European Central Bank meeting that is expected to call a halt to its rate tightening cycle to support economies battered by a two-year-old sovereign debt crisis.

Earth-moving magnate tops yet another China rich list

Forbes' latest ranking of China's richest people pits stolid industrial muscle against high-tech, with the head of an earth-moving company pipping the co-founder of the nation's biggest Internet search engine for the top spot.

U.S. widens scope of Libor probe: report

U.S. investigators probing the alleged manipulation of interbank lending rates are now focusing on possible violations of a commodities law that has previously been used to send financial executives to prison, the Financial Times said, citing people familiar with the probe.

Dozens Dead in Russian Hockey Team Plane Crash

A passenger plane carrying a Russian ice hockey team to a season-opening match crashed after takeoff from a provincial airport on Wednesday, killing 43 people and plunging the Russian and international sports world into grief.

Police Detain Three People Over Delhi Blast

Police detained for questioning three people on Thursday, including the owner of an Internet cafe in Kashmir over an email allegedly claiming responsibility for a deadly bombing of the New Delhi High Court, police said.

Libor probe looks at criminal angle: report

The U.S. investigation into alleged manipulation of interbank lending rates is focusing on possible violations of a commodities law that has previously been used to send financial executives to prison, the Financial Times reported on Thursday.

U.S. Libor probe looks at criminal angle: report

The U.S. investigation into alleged manipulation of interbank lending rates is focusing on possible violations of a commodities law that has previously been used to send financial executives to prison, the Financial Times reported on Thursday.

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