IBT Staff Reporter

65191-65220 (out of 154942)

Wall Street set to extend gains

Wall Street was set to edge up on Thursday, with a key index at its highest in seven weeks, as investors await labor market data giving indications of the recovery in the U.S. economy.

Facebook launches video chat with Skype

Facebook will add Skype video chat to its pages, aiming to spice up the appeal of the world's No. 1 Internet social networking service while fending off increased competition from Google.

Exclusive: China may cut spending on strategic industries

China may rein in plans to invest heavily in seven new strategic industries, including high speed rail and wind power, scaling back cutting-edge projects for industries suffering from old-fashioned problems such as corruption and overcapacity, sources said.

Euro steady ahead of ECB, China stocks climb

The euro steadied on Thursday with a widely expected rate hike from the European Central Bank later being offset by a spreading sovereign debt crisis, while China's bank stocks bounced on hopes of a near-term pause in policy tightening.

China stocks rise, euro steady ahead of ECB

China's bank stocks bounced on Thursday on hopes of a near-term pause in policy tightening, keeping regional shares close to a one-month high, while the euro steadied before a widely expected rate hike from the European Central Bank later.

Samsung Q2 falls as weak LCDs overshadow mobiles

Profit at Samsung Electronics <005930.KS>, the world's largest maker of memory chips and televisions, fell by a quarter as weak earnings at its flat screen unit dragged, underlying the conglomerate's struggle to return to last year's record profit.

Japan core machinery orders up, recovery under way

Japan's core machinery orders rose in May at the fastest pace in four months in a sign that capital expenditures will stay firm and support the economic recovery as the country rebuilds from a devastating earthquake and tsunami.

FDIC sues former Indymac Bank CEO Michael Perry

The Federal Deposit Insurance Corp sued former IndyMac Bank Chief Executive Michael Perry to recover over $600 million in damages and costs related to residential loans made by the lender, according to court documents.

ECB to raise rates, play hardball on Greece

The European Central Bank is almost certain to raise interest rates later on Thursday and will show no let-up in its insistence that governments solve Greece's debt crisis without triggering a default credit rating.

Obama ‘Twitter Town Hall’ Meeting: A New Age?

President Obama tweeted today, In order to reduce the deficit, what costs would you cut and what investments would you keep? creating the first Twitter town hall meeting at the White House. Twitter followers asked about gay marriage, the Patriot Act, abortion, and war as well as who his favorite Power Ranger is.

Government facilities targets of cyber attacks

Two U.S. government-funded research laboratories and a defense contractor were targets of a highly sophisticated cyber attack last week, representatives of the organizations said, the latest in a string of assaults on U.S. interests.

Suzuki eyes inland move of coastal facilities: report

Tokyo, July 7 - Suzuki Motor Corp <7269.T> plans to spend 40 billion yen ($494 million) to relocate several coastal facilities further inland to avoid damage from possible tsunamis, the Nikkei business daily said on Thursday.

Asia shares drift up, euro steady before ECB

Asian shares drifted up toward a one-month high on Thursday as Chinese bank shares bounced higher on hopes of a near-term pause in policy tightening, while the euro steadied before a widely expected rate hike from the European Central Bank later in the day.

BofA loses bid to end HAMP mortgage lawsuit

Bank of America Corp lost its bid to dismiss a lawsuit accusing it of reneging on promises to help borrowers modify their mortgage loans under a much-criticized federal program.

Morgan Stanley Smith Barney loses client data CDs: report

Brokerage Morgan Stanley Smith Barney, a joint venture between Morgan Stanley and Citigroup , said personal information of 34,000 investment clients stored on two CDs was lost in transit to a government office last month, the Wall Street Journal reported citing a company spokesman.

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