IBT Staff Reporter

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Data points to some improvement in economy

New claims for unemployment benefits fell last week, while housing starts and permits for future construction rose in May, signs that offered some hope the economy could soon pull out of its soft patch.

May housing starts up, permits at 5-month high

Housing starts rose more than expected and permits for future construction touched a five month high in May, a government report showed on Thursday, but any recovery will be hampered by a glut of pre-owned homes.

IMF seen releasing Greek funds despite EU delay

The IMF will release crucial loans to save Greece from default despite a likely delay by the European Union in agreeing a second bailout for the heavily indebted state, euro zone sources said on Thursday.

Greek debt, political turmoil hits world stocks

World stocks hit a three-month low on Thursday, the euro tumbled and top-rated government bonds rose as investors began to price in a possibility of disorderly default in Greek sovereign debt.

ECB's Wellink calls for doubling euro bailout fund

The European bail-out fund should be doubled to 1.5 trillion euros ($2.15 trillion) if politicians want private sector investors to participate in a second bail-out package for Greece, a European Central Bank governing council member said.

HSBC, Citi given nod to underwrite China corporate debt

The China units of HSBC Holdings and Citigroup Inc have won initial approval to underwrite corporate debt in China, paving the way for them to be the first foreign banks to win the coveted licenses, sources told Reuters on Thursday.

Liverpool fans unhappy with 'Blue' third kit

Sections of Liverpool fans are in uproar after their new third kit had a tinge of blue on it, with comments on the club's official website indicating certain displeasure at the 'Reds' having to wear blue.

Stock index futures signal dip

Stock index futures pointed to a lower open on Wall Street on Thursday following the previous session's sharp losses, with futures for the S&P 500 down 0.21 percent and Dow Jones futures down 0.24 percent, while Nasdaq 100 futures were up 0.08 percent at 0941 GMT (5:41 a.m. ET).

Unique Photo: Lunar Eclipse on Long Exposure, Earth’s shadow moves!

A lunar eclipse occurred on June 15, 2011 visible throughout the world and one of the longest viewable in over a decade. A unique photo was taken in Malaga, Spain, one of the southern most cities in the country. The photo was taken using long exposure to trace the movement of the lunar eclipse over time.

Sony’s playstation network was a victim of Lulzsec vs. 4chan hacker civil war

With the E3 gaming conference in Los Angeles having just passed last week, the gaming community is still in an uproar but not over new games or consoles. It's currently caught in the crossfire of a hacker civil war between two prominent hacker groups, Lulzsec and Anonymous. A conflict that is almost beginning to look like a story straight out of a Scorsese film.

Germany not insisting on bond swap for Greece: report

Germany is no longer insisting on a bond swap that would extend Greek debt maturities by seven years as it pushes for a contribution from private bondholders to a new aid deal for Athens, the Financial Times reported.

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