IBT Staff Reporter

Google Wallet, a mobile payment system on Android-based Sprint smartphones, is expected to be unveiled at a media event in Google's New York office, at 12 p.m. today.

SEOUL (Reuters Life!) - It began with a simple phrase -- brace yourself -- sent by a university professor to his mistress via a South Korean messaging service app used by millions every day.

Sony Corp's forecast of its first annual net profit in four years was viewed as optimistic, as the consumer electronics giant struggles with the aftermath of the disastrous March earthquake and a series of network security breaches.

Stock index futures were little changed on Thursday as investors looked ahead to data that could shed light on the economy's health amid worries that global demand was slowing.

Lenovo Group Ltd, the world's No.4 PC brand, more than tripled its fourth-quarter net profit, beating forecasts on robust demand from commercial customers and making up for a slowdown in the consumer sector.

Goldman Sachs' mortgage-servicing division, Litton Loan, was accused of denying loans without proper review.

Keiko Fujimori, Right-wing lawmaker has overtaken leftist Ollanta Humala in the opinion polls in recent weeks by survey firm Datum and may reflect the same in Peru's June 5 presidential runoff.

Copier and printer maker Ricoh Co will cut nearly 10 percent of its staff to try to boost profits, a move that shows underperforming Japanese companies are stepping up efforts to compete with global rivals.

Stock index futures pointed to a higher open on Wall Street on Thursday, with futures for the S&P 500 up 0.35 percent, Dow Jones futures up 0.4 percent and Nasdaq 100 futures up 0.35 percent at 4:50 EDT.

An explosion in a shopping district at the Turkish city of Istanbul killed at least seven people including a police officer on Thursday.

Swiss bank UBS is planning to separate its investment bank and incorporate it outside of Switzerland to placate regulators, the Wall Street Journal reported on Thursday.

Shipping magnate John Fredriksen said U.S. regulator lawsuits against two of his trading firms for suspected oil price manipulation in 2008 were rubbish, a Norwegian newspaper reported on Thursday.

World stocks rose from a two-month low on Thursday while the euro hit a one-week peak versus the dollar, aided by higher commodities and a report on China's possible interest in bailout bonds for Portugal.

Influential hedge fund manager David Einhorn has called for Microsoft Corp Chief Executive Steve Ballmer to step down, saying the world's largest software company's leader is stuck in the past.

The London Stock Exchange faced a takeover battle on Thursday with the Maple Group over Canada's TMX Group , the outcome of which may well decide whether it becomes takeover target itself.

The G8 summit of industrialized nation’s leaders this week could transform the Middle East economies with financial efforts to win back investors' confidence.

Sony Corp forecast a net profit of 80 billion yen ($975 million) on Thursday for the year that started on April 1, after net losses ballooned to 260 billion yen last business year on a tax credit write-off.

Leaders of the Group of Eight began gathering in France on Thursday to endorse aid to new Arab democracies, but wrangling among Western and developing economies over who runs the IMF may take up much of their time.

Asian stocks were on course for their biggest gain in a month on Thursday, led by resources and consumer sectors, with recovering commodity prices and the euro's rebound toward $1.42 bringing investors back into the markets in search of bargains.

General Motors on Wednesday said it will add 2,500 jobs at the Detroit-Hamtramck assembly plant to build the new Chevrolet Malibu mid-size sedan and the next-generation Impala large sedan alongside the Chevrolet Volt and Opel Ampera electric cars.

The National Highway Traffic Safety Administration will make it mandatory for all the vehicles to have a event recorder or black boxes, later this year, according to Wired Autopia.

The US is worried that a unilateral support would isolate Israel, as British Prime Minister David Cameron is vague about the Palestine's statehood bid.

The EU cookie law will take another year to be enforced as the UK government ensures the websites there would be no overnight changes.

LinkedIn Corp will seek out opportunities in China to capitalize on its massive user base even though it sees the market as complicated, a company executive said on Thursday.

China's Foreign Ministry on Thursday said that any decision on who should head the International Monetary Fund should be made through democratic consultation.

Asian Football Confederation president Mohamed Bin Hammam was ordered to face an ethics hearing after an insider alleged bribery, reported Reuters.

Sales of distressed U.S. homes fell in the first quarter as demand remained weak, but they still made up about 28 percent of total sales, the highest amount in a year, a RealtyTrac report said on Thursday.

Influential hedge fund manager David Einhorn called on Microsoft's Chief Executive Steve Ballmer to step down, while famed short-seller Jim Chanos threw cold water on alternative energy companies during the annual Ira Sohn Investment Research Conference on Wednesday.

The The death toll from the F5 tordando that tore through town on Sunday has increased to 125, with at least 900 hurt.