IBT Staff Reporter

Telecom equipment maker Alcatel-Lucent set an adjusted operating target of 5 percent of 2011 sales, the lower end of what it had previously told investors it would achieve.

NEW YORK - Freddie Mac said its Chief Operating Offier is resigning on Wednesday, effective immediately.

Asian stocks suffered a second session of sharp losses on Thursday, while the dollar struggled to make much headway after the U.S. central bank chief signaled the recovery in the world's biggest economy was still fragile.

Activision Blizzard Inc's first-quarter outlook missed Wall Street expectations and it will shut down the unit that makes Guitar Hero music games, sending its shares down more than 7 percent.

Toyota Motor Corp <7203.T> is set to expand operations in Russia, partnering with Russian automaker Sollers to help build Toyota-brand cars in the far east of the country as it pushes further into emerging markets, the Nikkei newspaper said.

Google Inc and Facebook Inc, plus others, have held low level takeover talks with Twitter that give the Internet sensation a value as high as $10 billion, the Wall Street Journal reported.

Asian stock markets fell on Thursday, while the dollar struggled to make much headway after the U.S. central bank chief signaled the recovery in the world's biggest economy was still fragile and warned against sharp spending cuts.

A married New York congressman accused of sending a shirtless photo of him and flirty messages to a woman has abruptly resigned from his seat on Wednesday.

Network equipment maker Cisco Systems Inc's CEO John Chambers spooked investors for the third time in as many quarters, warning of dwindling public spending and weaker margins from tough competition.

The U.S. government should only back home loans as a last resort in times of economic stress and should explicitly charge for that support, Federal Reserve Board Chairman Ben Bernanke said on Wednesday.

Executives at microblogging company Twitter Inc. have held low level talks with executives at Facebook Inc and Google Inc in recent months, about a possible takeover of Twitter, the Wall Street Journal reported on Wednesday.

Federal Reserve Chairman Ben Bernanke on Wednesday warned against sharp cuts in spending at a time when the economic recovery is still fragile enough to require extraordinary support from the central bank.

Influential venture capital outfit Andreessen Horowitz has invested $80 million in microblogging phenomenon Twitter, adding to its growing portfolio of social Web names.

The Securities and Exchange Commission is investigating whether exchange-traded funds are being used to hide insider trading, according to the Financial Times.

Cell phone maker INQ Mobile unveiled on Thursday its first two smartphones running Google's Android software, aiming to benefit from booming growth in social networking.

Cell phone maker INQ Mobile unveiled on Thursday its first two smartphones running Google's Android software, aiming to benefit from booming growth in social networking.

The U.S. economy may not need further help from the Federal Reserve when its $600 billion stimulus plan runs out in June, but that decision will hinge on the path of the economy, a top Fed official said on Wednesday.

Activision Blizzard Inc's first-quarter outlook missed Wall Street expectations and it said it would disband the unit that makes Guitar Hero music games, sending its shares down 8 percent.

Ford Motor Co sued luxury automaker Ferrari on Wednesday for trademark infringement after Ferrari named its 2011 Formula 1 racing car the F150.

The U.S. Federal Reserve's recent bond purchases have had a helpful effect on financial conditions, with the rise in long-term interest rates largely due to economic optimism, a senior Fed official said on Wednesday.

U.S. securities regulators moved to scale back market reliance on credit rating agencies, after the financial crisis laid bare the industry's shortcomings.

The Federal Reserve may give U.S. banks insight into whether it will scale back its proposed crackdown on debit card processing fees, when a top official testifies before a congressional panel next week.

Network equipment maker Cisco Systems Inc CEO John Chambers stunned investors for the third time in as many quarters, warning of worsening government spending.

Rep. Chris Lee, R-NY, has resigned, saying he regretted the harm that my actions caused his family, staff and constituents, on the same day that an online publication published a story alleging he corresponded with a woman who posted a personal ad on Craigslist, sending a shirtless photo of himself.

Cisco Systems Inc's quarterly sales beat expectations, despite concerns about increasing competition and budget cuts among debt-burdened clients in the public sector.

A bid by the London Stock Exchange to take over TMX Group, operator of the Toronto Stock Exchange, resurrects the debate on whether Canada is really open for global business, or if regulatory and political hurdles are set to wreck another high-profile deal.

Deutsche Boerse is in advanced talks to buy NYSE Euronext in a deal that would create the world's largest trading powerhouse and put a bastion of American capitalism into foreign hands.

Whole Foods Market Inc raised its 2011 profit outlook after a sharp acceleration in sales, quashing fears of a growth slowdown and underscoring how better-off U.S. shoppers are spending more freely.

Economists took their turns encouraging and attacking the policies of money supply managers of the U.S. Federal Reserve System on Wednesday, as the nation faces 9 percent unemployment, slow economic growth and rising federal debt and deficits.