IBT Staff Reporter

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Climate Change Will Bring 'Sudden and Abrupt' Shocks Worldwide: U.N. Expert

A senior United Nations official warned that climate change could become a catalyst for sudden and abrupt shocks worldwide and have far-reaching implications for global stability and security. Achim Steiner, executive director of the U.N. Environmental Program, told the U.N. Security Council Wednesday that natural resources are at risk.

Space Shuttle Atlantis Returns to Earth (PHOTOS)

NASA spacecraft Atlantis landed successfully on runway 15 of the shuttle landing facility at Kennedy Space Center in Florida at 5:57 am EDT. The landing marks the end of the space shuttle program.

Jobless claims rise above expectations

The number of Americans filing new claims for unemployment benefits rose more than expected last week, pointing to a labor market that is struggling to regain momentum.

Apple Gearing Up Displays For HD Movies On iPhone 5 and iPad 3

Apple has currently made some strides in the area of high definition (HD) displays for their future mobile devices. The iPhone 5 and iPad 3 are rumored to be producing HD displays that will support a lineup of 1080p movies through Apple TV, possibly hitting the market this fall. Utilizing more powerful hardware, the mobile devices are expected to run iOS 5 which can support 1080p video file output.

AT&T revenue, net subscribers beat Street

AT&T Inc's second-quarter revenue beat Wall Street expectations and its customer growth improved in the first full quarter after it lost exclusive U.S. rights to sell Apple Inc iPhone.

Global slowdown signs strengthen, debt crisis weighs

Growth ground to a halt in the euro zone's private sector this month while China's factory sector contracted for the first time in a year, surveys showed on Thursday, deepening evidence of a sharp slowdown in the global economy.

Stocks off highs, euro up before EU summit

World stocks held below a 1-1/2 week high on Thursday after a disappointing services sector survey in the euro zone while the euro ticked up as investors awaited details of a Franco-German deal on a Greek bailout at a European summit later.

Mac OS X Lion: Is It Worth the Upgrade?

Apple Mac OS X Lion, the latest operating system innovation from the Cupertino-based IT giant, has finally hit the store on Wednesday, but is it worth the upgrade?

Bamboo Stick Impales 13-Year-Old's Neck

Dez Heal, 13, of Lynchburg, Va., was playing a Ninja game with his friends when a bamboo stick which he had decided to put the back of my shirt, impaled his neck.

Nokia set for loss on fresh smartphone pain

Investors braced for more bleak news from smartphone laggard Nokia Oyj on Thursday with the world's largest handset maker likely to post a second-quarter loss and a weak outlook.

Morgan Stanley set for loss

Morgan Stanley is set to report a second-quarter loss on Thursday, as costs caused by a leftover item from the financial crisis compound the effects of a weak trading environment and stubbornly high expenses.

Euro zone private sector growth slumps in July: PMI

The euro zone's private sector grew at its weakest pace in almost two years this month as demand from abroad fell and the region's ongoing debt crisis weighed on minds at home, business surveys showed on Thursday.

Euro zone eyes buyback, not bank tax, for Greece

Germany and France are willing to allow Greece to slip into a temporary default as part of a bond buyback plan aimed at preventing Europe's debt crisis from spreading, and have ruled out a levy on banks.

No bank tax in Franco-German deal on Greece

Germany and France have ruled out a bank tax after reaching a common position on a second bailout of Greece to prevent the country's debt crisis spreading through Europe, EU sources said on Thursday.

Euro up before EU summit; China data hurts stocks

The euro climbed for a third day on Thursday after news about a France-Germany accord on Greece's debt crisis relieved some concerns ahead of a European summit, while Asian stocks slipped after China manufacturing data contracted for the first time in a year.

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