IBT Staff Reporter

European equities followed Asian stocks lower Thursday as investors fretting about the global growth outlook cut exposure to riskier assets, while the Swiss franc fell on talk the central bank was intervening in the forwards market.

The global economy is "dangerously close to a recession," Morgan Stanley said, slashing its growth forecast for 2011 and 2012.

A U.S. Secret Service Agent was arrested and charged with drunk driving last weekend in Iowa ahead of President Barack Obama's visit.

European equities followed Asian stocks lower on Thursday as investors fretting about the global growth outlook cut exposure to riskier assets, while the Swiss franc fell on talk the central bank was intervening in the forwards market.

South Korea's LG Electronics Inc has cut its annual television sales forecast by 20 percent, a media report said, joining its Japanese rival Sony Corp in bracing for weaker sales due to uncertain global economic prospects.

Global economic health rests on the United States and China finding common ground, U.S. Vice President Joe Biden told China's leader-in-waiting, Xi Jinping, in talks aimed at shoring up faith in the dollar.

The trailer of Daniel Radcliffe's new movie, "The Woman in Black," promises a spine-chilling story laden with an eerie atmosphere.

China Mobile Ltd, the world's largest mobile operator by subscribers, posted a 6.3 percent rise in net profit for the first six months, logging the fastest half-year growth since 2008 as the carrier tries to attract more high-end 3G users.

London has overtaken New York as the world's fashion capital for 2011, fuelled by media interest in late British designer Alexander McQueen and Kate Middleton, according to a survey by the Global Language Monitor.

David Price allowed three hits in eight scoreless innings and the Tampa Bay Rays blanked the Boston Red Sox 4-0 at Fenway Park on Wednesday afternoon.

European shares looked set to follow Asia lower on Thursday as investors in that region locked in profits on worries about faltering global demand, while the Swiss franc fell sharply on speculation the Swiss central bank was intervening in the forwards market.

Richard Gere may be best known for his acting career but he is also an accomplished musician who has amassed an extensive guitar collection that will be sold at auction in October, Christie's said on Wednesday.

Gold demand fell in the second quarter but is still expected to rise for the full year as Asian buyers add to holdings and investors shift to it as a safe haven, the World Gold Council said Thursday.

Asian stocks fell Thursday on profit-taking by nervous investors, while the Swiss franc stayed firm after plans to curb the currency disappointed those looking for more drastic action.

Christine O'Donnell walked out of an interview with CNN's Piers Morgan on the "Piers Morgan Tonight" show on Wednesday. The former Delaware U.S. Senate candidate took offense at the host's questions about gay marriage.

Hewlett-Packard Co must convince Wall Street it can reverse a string of disappointing results, weather a drought in technology spending and deliver growth again when it reports earnings on Thursday.

The hacking assault on Bay Area Rapid Transit continues as personal data on its police officers, including names, addresses, e-mail and passwords, is revealed. A BART Web site has been taken down after more than 100 officers were victimized.

When sheriff's deputies in Southern California raided a suspected drug house they found the expected - guns and methamphetamine. But something else, too: Some two dozen granite tombstones in the backyard.

Lenovo Group Ltd, the world's No.3 PC brand, reported a near doubling of its first-quarter net profit, beating expectations due to acquisitions and growth in key emerging markets such as China.

Microsoft Corp on Wednesday won a motion to have a patent lawsuit brought against it by Motorola Mobility moved to its preferred federal court in its hometown of Seattle.

The Federal Reserve will do what it feels is best for the economy, regardless of any political heat, a top Fed official said on Wednesday.

Popular talk show host David Letterman received a death threat on an extremist networking site frequented by al Qaeda, a U.S. intelligence monitoring group said on Wednesday.

The trustee seeking money for victims of Bernard Madoff's fraud on Wednesday filed an amended $2 billion lawsuit adding new allegations against UBS AG and related defendants.

Australian brewer Foster's rejected a $10 billion offer from rival SABMiller for the second time as shareholders hold out for a better offer from the global brewing giant.

Sina Corp, China's largest Internet portal, said net profit fell 60 percent as the firm spent heavily on investment in its highly popular microblogging service, Weibo.

When Federal Reserve Chairman Ben Bernanke takes the podium next week at the central bank's annual meeting in Jackson Hole, Wyoming, his sense of deja vu may be overwhelming.

Approval of President Barack Obama's handling of the U.S. economy has fallen to a new low of 26 percent, according to a Gallup poll released on Wednesday in the aftermath of a bruising fight with Congress over federal spending.

Data storage equipment maker NetApp Inc posted quarterly revenue below Wall Street projections, saying that business slowed dramatically in July, and its shares tumbled 14 percent.

Every physician will face at least one malpractice claim over the course of his career, MedPage Today reported. The likelihood increases dramatically for neurosurgeons. Three of four malpractice are resolved with no payment to the plaintiff, researchers said.