IBT Staff Reporter

Japan's Takeda Pharmaceutical Co is in talks to buy privately-held Swiss rival Nycomed, which has a significant presence in Europe and emerging markets, in a deal that could be worth more than 1 trillion yen ($12 billion), two sources told Reuters.

Nissan Motor Co posted a 7.2 percent rise in quarterly operating profit on Thursday and said global production disrupted by Japan's March 11 earthquake will return to normal a least a month earlier than predicted by bigger home rival, Toyota Motor Corp.

Japan's Takeda Pharmaceutical Co <4502.T> is in talks to buy privately-held Swiss rival Nycomed in a deal that could be valued at more than $14.2 billion, Bloomberg News said, citing two people with knowledge of the matter.

Japan is expected to unveil a scheme on Thursday that includes a $62 billion fund injection to help Tokyo Electric Power <9501.T> compensate victims of the crisis at its tsunami-crippled nuclear plant and save Asia's largest utility from financial ruin.

According to Harold Camping, leader of the independent Christian ministry Family Radio Worldwide, the world is going to end on May 21.

Asian share markets tumbled on Thursday after a second big sell-off in commodities in less than a week curbed investor appetite for riskier investments and boosted the U.S. dollar, while a short-lived recovery in oil prices was wiped out in late trade.

Asia's reserve-rich nations see no viable option but to keep on purchasing U.S. government debt despite their uneasiness about Washington's fraught political battle over public spending.

Japan's largest drugmaker Takeda Pharmaceutical Co is in talks to buy privately-held Swiss rival Nycomed in a deal that could be valued at about $14.2 billion, Bloomberg said, citing two people with knowledge of the matter.

Oil rebounded by about $1 on Thursday as investors focused on strong demand growth in Asia after a sell-off the previous day triggered by a surprise increase in U.S. gasoline stockpiles.

The head of al-Qaida's Yemen-based wing has vowed to fight on after the killing of Osama bin Laden, saying: What is coming is greater and worse in a statement posted on the internet on Wednesday.

The number of Americans who lost their homes to the bank fell in April as faulty paperwork continued to slow foreclosure activity, which fell to a more than three-year low, a closely watched survey said on Thursday.

Search engine behemoth Google's self drive car is likely to hit street in Nevada if a pair of legislation get through the state legislature.

On the same day that a jury convicted hedge fund manager Raj Rajaratnam, federal prosecutors notched another victory when a former account manager at a semiconductor company, Manosha Karunatilaka, pleaded guilty to charges of insider trading.

Asian share markets fell on Thursday after a second big sell-off in commodities in less than a week cut investor appetite for riskier investments and boosted the U.S. dollar, although oil prices clawed back some losses in early trade.

American International Group and theTreasury on Wednesday said they will sell around $9 billion in AIG stock, but sources familiar with the situation said the Treasury would pull the sale if it cannot be done profitably.

Steven A. Cohen's $13 billion fund firm is facing scrutiny from U.S. regulators but in a rare public appearance on Wednesday the hedge fund manager said he has no plans of quitting what he loves doing.

Cisco Systems Inc warned that this quarter will be even worse than Wall Street's already low expectations and it laid out plans for global job cuts as it struggles to revive growth.

Lebron scored the last 10 points for the Heat to beat the Celtics in game 5 to win the series 4-1.

Some hedge fund managers and investors attending a conference here audibly gasped when the news flashed on TV screens that Raj Rajaratnam had been convicted on all 14 counts of insider trading.

The Cannes Film Festival opened today, starting by rolling out the red carpet for the stars. The first part of the program on Wednesday was a black-tie screening of Woody Allen's Midnight in Paris.

State Street Corp , the world's third largest institutional investor, said it was under investigation by the Securities and Exchange Commission for its foreign exchange pricing methods for pension plans.

Oprah Winfrey will soon return to acting, nowhere else but on Broadway, and this is really going to happen.

On Tuesday Microsoft announced details of a $8.5 billion acquisition of online communications company Skype.

Hedge fund manager Steven A. Cohen, whose SAC Capital Advisors has drawn scrutiny from prosecutors probing insider trading, said his firm has and will cooperate with all government investigations.

As a court official read the verdict aloud in a Manhattan federal courtroom, hedge fund founder Raj Rajaratnam's lead lawyer John Dowd began ticking off the guilty counts on his verdict sheet.

Cisco Systems Inc warned of another weak quarter as it struggles to revive growth, reversing a brief share rally after quarterly earnings beat Wall Street expectations.

Amazon.com could cut its partnership with affiliates in more U.S. states that require the online retailer to collect sales tax, Chief Executive Jeff Bezos said on Wednesday.

Hedge fund founder Raj Rajaratnam was found guilty on all 14 counts of insider trading in a sweeping victory for the government and a vindication of its aggressive use of phone taps to pursue Wall Street crimes.

Oil prices tumbled nearly 5 percent on Wednesday, as easing supply concerns sent gasoline into a tailspin that briefly forced trading on the New York Mercantile Exchange to stop.