IBT Staff Reporter

Japanese consumer electronics giant Panasonic Corp will slash 40,000 jobs over the next two years in a bid to pare costs and keep up with ever-harsher competition from Asian rivals, a source said on Thursday.

Growth of alternative powertrain vehicles sales will be limited by consumer concerns about costs as well as functionality, according to the J.D. Power and Associates 2011 U.S. Green Automotive Study.

Mitsubishi Motors North America, Inc has announced the pricing for the company's advanced 100 percent electric Mitsubishi i, powered by Mitsubishi innovative Electric Vehicle (MiEV) technology.

The dollar skidded to three-year lows on Thursday, pushing U.S. crude oil to a 2-1/2 year high, while Asian stocks rose as investors bet that the easy U.S. monetary policy will continue to drive money to riskier assets.

Hyundai Motor Co <005380.KS> reported a 47 percent jump in quarterly profit on Thursday, sending its shares to a record high, with investors betting earnings will continue to grow as Japanese rivals struggle with a production slump.

The watchdog for the $700 billion bank bailout program said on Thursday it will remain vigilant in protecting taxpayers especially now congressional supervisors have stopped oversight.

Hyundai Motor Co <005380.KS> reported a 47 percent rise in quarterly profit on Thursday and said earnings would continue to grow thanks to strong global demand for new models and as Japanese rivals struggle with the aftermath of the March 11 earthquake and tsunami.

Former Berkshire Hathaway executive David Sokol deliberately misled Warren Buffett when pitching an investment to him, the company's board concluded in a scathing report that may add fuel to a pending SEC probe of Buffett's one-time heir apparent.

South Korea's Hyundai Motor Co <005380.KS> reported a 47 percent rise in quarterly net profit on Thursday, driven by strong global demand for its new models and as its Japanese rivals grapple with the aftermath of the March 11 earthquake and tsunami.

Logitech International , the world's largest computer mouse maker, on Wednesday reported a steep quarterly profit drop and predicted a rise in sales this year.

Samsung Electronics Co, the world's No.2 handset maker, launched a new version of its flagship smartphone Galaxy S in South Korea ahead of its global debut in May, targeting global sales of over 10 million this year.

Verizon Wireless was scrambling on Wednesday to resolve an outage of its highest-speed U.S. wireless network, on which the top U.S. cellular carrier is relying to drive future growth.

Two Lionel Messi late goals at the Santiago Bernabeu in a heated Champions League semifinal between Barcelona and Real Madrid to give the Catalans a vital away goal before the second leg next week.

The dollar slumped to three-year lows on Thursday, pushing U.S. crude to a 2- year high, while Asian stocks rose as investors bet that the easy U.S. monetary policy will continue to drive money to riskier assets.

Starbucks Corp warned that rising fuel and dairy costs will take a bigger chunk out of earnings than previously anticipated, and offered a full-year forecast that disappointed Wall Street.

Loyal PlayStation gamers are threatening to ditch Sony Corp after it disclosed that personal information for some 77 million user accounts was stolen from its computer systems in one of the biggest-ever data breaches.

Baidu Inc more than doubled its profit in the first quarter and forecast stronger-than-expected revenue for the second quarter, betting on strong online advertising demand among China's businesses.

NEW YORK, April 27 - Cash-strapped New York state would receive about $144 million from Lehman Brothers Holdings Inc under a proposed settlement resolving tax claims against the defunct financial giant.

Former Berkshire Hathaway executive David Sokol deliberately misled Warren Buffett when pitching an investment to him, the company's board concluded in a scathing report that may add fuel to a pending SEC probe of Buffett's one-time heir apparent.

Sony Corp could face legal action across the globe after it belatedly revealed one of the biggest online data breaches ever.

Wall Street graded Federal Reserve Chairman Ben Bernanke's first post-meeting news conference an A-, praising him for poise and transparency but noting that financial journalists didn't make him sweat.

EBay Inc reported a higher than expected quarterly profit as more people bought items on its auction site and its PayPal payment system was used by more merchants.

Federal Reserve Chairman Ben Bernanke signaled on Wednesday that the U.S. central bank is in no rush to scale back its support for the economy with the labor market still in a very, very deep hole.

Federal Reserve Chairman Ben Bernanke on Wednesday said the U.S. central bank could best ensure a strong dollar was by creating the conditions for strong economic fundamentals.

Egyptian mobile phone operator Mobinil said political turmoil and economic uncertainty hurt its first-quarter results, sending net income tumbling 93.6 percent year-on-year.

Starbucks Corp warned that rising fuel and dairy costs will take a bigger chunk out of earnings than previously anticipated, and offered a full-year forecast that disappointed Wall Street.

A former portfolio manager at Steven Cohen's SAC Capital Advisers LP will plead guilty on Thursday to charges arising from a federal probe of insider trading, a prosecutor said at a court hearing.

Boeing Co's quarterly profit rose 13 percent and beat expectations despite a slight decline in revenue as the company improved production efficiency on some key offerings such as the 737 and the 777.

The following are highlights from Federal Reserve Chairman Ben Bernanke's press conference on Wednesday after the central bank's monetary policy committee meeting. This is the first regularly scheduled press conference by a Fed chief.