IBT Staff Reporter

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Hyundai beats forecasts with strong quarter

South Korea's Hyundai Motor outperformed its rivals as it reported a consensus-beating 37 percent rise in quarterly profit on Thursday, fueled by strong U.S. sales of popular new models.

RIM embeds its BBM chat in work and play apps

Research In Motion wants software developers to use its popular instant messaging tool within their applications to enable friends to play games, share and discuss news, and decide where they will eat dinner.

China says to press ahead with FX reserves

China will press ahead with diversification of its $3.2 trillion in foreign exchange reserves, and does not pursue large-scale currency holdings, the State Administration of Foreign Exchange said on Thursday.

Hyundai Motor profit beats forecast on record vehicle

Hyundai Motor posted a 37 percent gain in quarterly net profit on Thursday, outstripping the consensus forecast, after it logged record global vehicle sales and gained market share from Japanese rivals reeling from the March 11 earthquake.

Ford to build billion dollar plant in India

Ford Motor Co said on Thursday said it plans to invest $1 billion to build a factory in western India, doubling its investment in the country as the U.S. carmaker seeks to gain a greater share in the second-fastest growing auto market in the world.

HSBC may cut thousands of jobs: report

HSBC Plc is close to announcing that it will cut thousands of jobs as it embarks on a cost-cutting drive, Sky News reported, citing people close to Europe's biggest bank.

Japan's quake-hit technology companies to show steady recovery

Japan's biggest consumer electronics makers are expected to show quarterly earnings slumped due to the March earthquake, but investors will focus on whether these companies can meet their forecasts for a swift recovery, given a fragile global economy.

America's Leaders Screwed up my Children's Future

With America edging ever closer to a default, and a downgrade in the US credit rating, some realizations are starting to hit America's youth about their future. The consequences of the partisan squabbling of their parents' generation may leave them with little to inherit and much to despise.

Sidney Rice Heading to Seahawks for 5 Year Contract

The Seahawks came to terms with former Minnesota Vikings wide receiver Sidney Rice, agreeing on a five-year, $41 million contract that includes $18 million in guaranteed money. Before the contract is signed, Rice has to pass his physical test with Seattle.

Woman Attacks Baby; Tries to Eat His Arm

A 36-year-old Los Angeles woman was arrested for allegedly grabbing a baby from its stroller and slamming him against the metal railing of a truck reports the Los Angeles Times.

Little Girl?s Body Exhumed After 53 Years

The remains of a 7-year-old girl, who was murdered 54 years ago, were exhumed on Wednesday in the hope that modern science and DNA will help scientists examine her remains and solve the case.

THQ loss widens, lowers earnings outlook

Video game publisher THQ Inc slashed its annual earnings forecast as the company behind games such as WWE SmackDown vs Raw and Saints Row said it was facing a tough quarter ahead for sales and said its costs would rise as it spends more on marketing, sending its shares down more than 15 percent late Wednesday.

Lehman plans deals to sell property, move loan management

Lehman Brothers Holdings has made a preliminary deal to sell most of a commercial real estate property in Rosslyn, Virginia, to a Goldman Sachs unit, raising at least $385 million to help pay back creditors, according to court documents.

Whole Foods boosts 2011 view, shares up

Upscale grocer Whole Foods Market Inc's quarterly profit rose a larger-than-expected 35 percent and it raised its full-year profit forecast, fueled by robust sales and snatching market share from other supermarkets.

Lehman executives, auditor must defend investor lawsuit

Top former executives of Lehman Brothers Holdings Inc lost their bid to throw out a securities fraud lawsuit seeking to hold them responsible for billions of dollars of investor losses tied to the Wall Street investment bank's 2008 collapse.

Visa rolls out new fee program

Visa Inc's quarterly profit rose by 40 percent, and the world's largest payment processor said it would introduce a new fee structure for U.S. merchants.

Norway police face review, think killer acted alone

Police are increasingly certain that mass killer Anders Behring Breivik acted alone, but are leaving no stone unturned in the hunt for collaborators as they try to close one of the bloodiest chapters in Norway's history.

Auto sales may see bumpy growth in new markets

The source of the auto industry's growth has seen a permanent shift to emerging markets that appear promising but also hold great risks, according to an AlixPartners study released on Wednesday.

U.S. Debt Crisis Shakes Youth

If the debt ceiling isn't raised before Aug. 2, or if America's prized AAA credit rating is downgraded, it will mean at least a decade of financial instability to clean up after.

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