IBT Staff Reporter

Oil prices crashed more than $8 to a four-month low on Thursday after the world's consumer nations said they would band together to aid the global economy by releasing emergency oil reserves for the third time ever.

Federal bankruptcy court approved on Thursday a settlement between the Lehman Brothers brokerage and JPMorgan Chase & Co in which the bank will return more than $800 million of cash and securities to resolve claims brought by the Lehman trustee.

Greece's new finance minister sought to explain gaps in his austerity plan to EU and IMF officials on Thursday, with European leaders insisting on deep spending cuts and tax hikes if Athens wants to secure funds and avoid potential default.

The recent round of rumors suggests that Apple iPhone 5 will come equipped with a dual-LED flash.

New York City today will see two massive storms touch down - Bieber fever and gay-courting Obama.

Premier League Champions Manchester United have confirmed the signing of Aston Villa winger Ashley Young.

A Harry Potter jammed packed summer that you won't want to miss out on!

Fast food, soda, potato chips, cookies. Fat, carbs, sugar. We've heard it all at one time or another, this makes you fat. A study published in the New England Journal of Medicine reports how much weight a person is likely to gain or lose over four years based on one additional daily serving of a range of specific foods. Is it really potato chips that contribute to overweight and obesity?

Barclays Plc is seeking to dismiss claims by Lehman Brothers Holdings Inc that the British bank owes $500 million in unpaid bonuses to employees of Lehman's former brokerage.

Greece's new finance minister met EU and IMF officials on Thursday to address gaps in his austerity plans with European leaders insisting harsh measures are adopted in return for funding to avert bankruptcy.

The number of Americans filing new claims for unemployment benefits rose last week, suggesting little improvement in the labor market this month after employment stumbled in May.

As Europe heads deeper into the Greek debt crisis, the tone of communications at the top of the European Central Bank may change significantly, posing a new challenge for markets trying to guess the ECB's intentions.

Low priced designers for fashion forward shoppers

Oil fell sharply on Thursday, with North Sea Brent down more than $6 per barrel, after the International Energy Agency said 60 million barrels of oil would be released from strategic stockpiles to help the global economy.

New U.S. claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.

The seven Harry Potter novels will be available in ebook form in October, author J.K. Rowling said on Thursday at the launch of a new interactive online website Pottermore (www.pottermore.com) that will allow readers to navigate through the boy wizard stories.

OJ admits to killing his wife

Music Star Glen Campbell has revealed that he has been diagnosed with Alzheimer's and he will put out his final album this summer.

New York Knicks have been the subject of much speculation surrounding tonight's NBA draft. In particular, that speculation has been centered around electric BYU guard Jimmer Fredette, who called the Knicks his 1A preference along with the Utah Jazz since he grew up in New York.

Close family and friends paid respect to the late Ryan Dunn on Wednesday during a private service in West Chester Pennsylvania.

Casey Anthony murder trial has entered Day 27 on June 23. On Thursday, defense attorneys have called an FBI expert on hair and fiber to the witness stand, as they try to poke holes in some of the prosecution's forensics evidence.

It seems a studio mishmash of two similar songs by the singers was made and leaked online

The vandalized Soviet monument has been cleaned after an unidentified street artist painted the statue to look like comic heroes.

Hundred of Ryan Dunn T-shirts are now available online.

Beatty will be making a Howard Hughes movie and not a comedy

Six-time champion Roger Federer will take on Frenchman Adrian Mannarino in the second round of the Wimbledon Championships at the Centre Court.

The heavyweight threat from Google's Nexus 4G and Samsung Galaxy Tab have signaled a response from Apple. The iPhone 5 new design and iPad 3 upgraded display are rumored to counter the upgraded Android threats.

Sales of new U.S. single family homes fell for the first time in three months in May, but inventories of new homes for sale reached record lows and the median sales price rose slightly, a government report showed on Thursday.

KIEV, June 23 - Ukraine's state security service on Thursday said it had broken up an international hacking ring that infiltrated foreign banks' computer networks and stole $72 million.