IBT Staff Reporter

The number of Americans claiming new unemployment benefits last week dropped below the 400,000 level for the first time since early April, a hopeful sign for the economy which has struggled to regain momentum.

Japan's Nintendo Co Ltd posted its first-ever quarterly operating loss, cut the price of its 3DS handheld game player and slashed its full-year profit forecast far below market expectations, hit by sluggish sales and a strong yen.

Carell is confident that the show has made a great choice and addition to the cast. "I was always just one part of the ensemble," Carell said, "and I know in the future the show is going to be great. The only hard part for me is that I will miss seeing all my friends."

A recent study published in the July issue of The National Cancer Institute's journal found that children and teens who use cell phones are not at an increased risk of brain cancer compared to their peers who do not use cell phones.

A bill to cut the deficit faced a nail-bitingly close vote in Congress on Thursday as the top Republican lawmaker sought to quell an internal revolt and push his plan to avoid a ruinous default.

Alibaba Group launched its first self-developed mobile operating system and smartphone on Thursday in a bid to capture a slice of China's rapidly growing mobile Internet market.

Japan's top consumer electronic firms recovered faster than expected from the March earthquake, keeping their full-year profit forecasts despite a weakening TV market and worries about the outlook for the global economy.

Toronto's main stock index plunged more than 2 percent on Wednesday to its lowest point this month as weak U.S. data and a looming deadline for raising the U.S. debt ceiling sent investors searching for safety.

Conglomerate Tyco International Ltd's quarterly profit beat Wall Street forecasts on Thursday amid sharply higher earnings in its security business, which were boosted by the acquisition of Broadview.

An Air Canada plane bound for Vancouver was forced to dump fuel and return to Sydney on Thursday after crew reported smoke coming from an oven in the galley, the airline said.

Coca-Cola Enterprises Inc reported higher-than-expected quarterly earnings on Thursday, helped by volume increases and foreign currency translation.

Stock index futures rose on Thursday after Wall Street suffered its worst day in eight weeks, but the session was predicted to be volatile ahead of a key vote later in the day on a bill to cut the U.S. deficit.

Thomson Reuters Corp reported sluggish growth in its Markets division, as the company struggles to accelerate adoption of its new Eikon flagship desktop for financial professionals.

Colgate-Palmolive Co and Avon Products Inc showed on Thursday that a big international presence is key, as growth in Latin America, the largest market for both U.S. companies, offset slumps at home.

After making inroads into the enterprise domain as reported by Good Technology, Apple's iconic tablet iPad is fast replacing gaming consoles to become the preferred platform for game developers.

Royal Dutch Shell Plc and other big oil groups reported a jump in profits on Thursday, as high oil prices masked the impact of lower crude and gas production.

Stock index futures rose slightly on Thursday after Wall Street suffered its worst day in eight weeks, but the session was predicted to be volatile ahead of a key vote later in the day on a bill to cut the U.S. deficit.

Chelsea are set to splash the transfer market, according to reports, as they prepare bids for Romelu Lukaku, Luka Modric and Javier Pastore.

Joe Pesci claims they have cut down his paycheck from $3 million to $1 million and offered him a lesser role

Japan's Nintendo Co posted its first ever quarterly operating loss, cut the price of its 3DS handheld game player and slashed its full-year profit forecast far below market expectations, hit by sluggish sales and a strong yen.

A 29-year-old man known for helping the needy was shot in the head while feeding a formerly homeless man on Wednesday in Oakland, California.

Ford Motor Co plans to build a $900 million production plant in India, doubling its investment in the country, as the U.S. carmaker seeks to catch up with rivals in the second-fastest growing auto market in the world.

Wall Street was set to edge higher at Thursday's open in a bounce from steep falls in the previous session, as U.S. politicians struggle to come to an agreement over the debt ceiling days before the deadline to avoid default.

Royal Dutch Shell Plc reported a big jump in second-quarter net profits helped by new projects which the company said would drive production growth in coming years.

Asia's small, export-driven economies look most vulnerable to the threat of a deeper U.S. economic slump, which could materialize even if Washington manages to avert a debt default.

Japan's biggest consumer electronic conglomerates signaled a swift recovery from their quake-hit operations, with most of them retaining their profit forecasts for the full year.

Manchester United breezed past MLS' finest with a 4-0 victory over the David Beckham led MLS All Stars, as Dimitar Berbatov served a timely reminder to Sir Alex Ferguson of the quality he adds.

South Korea' communications regulator said Thursday hackers from China had attacked an Internet portal and blogging site operated by SK Comms, accessing the personal information of up to 35 million users in what could be the country's biggest cyber attack so far.

In a rundown patch of Detroit, enclosed by a cyclone fence and barbed wire, stands an unremarkable warehouse that investment bank Goldman Sachs has transformed into a money-making machine.