IBT Staff Reporter

New U.S. claims for unemployment benefits dropped more than expected last week, a government report showed on Thursday, pointing to continued gradual improvement in the labor market.

January sales at major U.S. retailers blew past analysts' expectations as shoppers braved snowstorms in an unexpected sign of consumer strength.

Merck & Co warned investors that it could no longer vouch for its long-term profit forecast due to pressure to curb prices on its drugs and dimmed hopes for an experimental blood clot treatment.

The U.S. economic recovery still needs help from the Federal Reserve despite signs of improvement, Chairman Ben Bernanke said on Thursday.

Viacom's quarterly revenue dropped a wider-than-expected 5 percent on the decline of DVD sales at Paramount Pictures and shares fell 3 percent in premarket trading.

Dow Chemical Co barely blinked at rallying energy costs in the fourth quarter as it tapped fixed-cost supplies from the Middle East and boosted customer pricing by 10 percent.

A Canadian regulatory ruling that effectively stops small Internet providers from offering unlimited downloads must be revised, Industry Minister Tony Clement said on the social networking site Twitter.

Some Verizon Wireless customers complained they were unable to buy its iPhone online, but the company said sales were mostly running smoothly on its first day of Internet orders for the long-awaited phone.

Mobile operator Vodafone on Thursday accused the Egyptian authorities of using its network to send pro-government text messages to its subscribers, without clear attribution.

U.S. stocks slipped on Thursday as concerns over increasing disorder in Egypt and signs of exhaustion in the recent market rally weighed on investor sentiment.

The European Central Bank kept interest rates on hold at a record low of 1.0 percent as expected on Thursday, despite rising inflation fears.

The New York Times Co on Thursday said revenue declined 3 percent in the fourth quarter, showing that newspapers were still experiencing an industry-wide slump.

New Liverpool signing Andy Carroll insisted he was not feeling the pressure to replace former Reds favorite Fernando Torres, while manager Kenny Dalglish backed his new signing and questioned Torres' conduct.

Hewitt-Packard joins Samsung, which announced yesterday that it was offering refunds.

- WikiLeaks founder Julian Assange threatened to sue Britain's Guardian newspaper for allegedly giving his website's cache of classified U.S. cables to the New York Times, according to two new books.

Brisk agricultural, plastic and electronic sales helped Dow Chemical Co, post a better-than-expected fourth-quarter profit, with earnings from joint ventures in the glass and energy sectors particularly strong.

BJ's Wholesale Club Inc said it may put itself up for sale, under pressure from a private equity firm that may make a hostile bid.

Wall Street tumbled on Thursday as concerns over increasing disorder in Egypt and signs of exhaustion in the recent market rally weighed on investor sentiment.

Egyptian authorities sent out anonymous mass texts via Vodafone network, statement says.

Some Verizon Wireless customers complained they were unable to buy its iPhone online, but the phone company said sales were mostly running smoothly on its first day of Internet orders for the long-awaited phone.

New U.S. claims for unemployment benefits dropped more than expected last week, a government report showed on Thursday, pointing to continued gradual improvement in the labor market.

Growth in the U.S. services sector in January was the fastest in more than five years, another sign the economy started the new year on a solid footing, with measures of employment showing some strength.

Shell disappointed markets with weak refining and downstream results on Thursday, as an oil price fueled rebound in its fourth-quarter profit failed to meet expectations.

Major U.S. retailers shrugged off the snowiest January in six years to post sales that blew past analysts' estimates, easing concerns that consumers were all spent out after the holidays.

World food prices hit a record in January, the U.N. said, while its hunger arm warned bad weather meant a looming era of food volatility, an issue that has already helped spark protests across the Middle East.

The iPad-only digital newspaper from News Corp., The Daily, touted to usher in the age of subscription-based revenue model on the web space, has been launched by Rupert Murdoch and Apple Vice President of Internet Services Eddy Cue at a press event at New York's Guggenheim Museum.

Mobile carriers risk an end of profit within four years amid increased smartphone usage, rising investment costs and falling revenue per unit of data, says a new study.

Nintendo developer Shigeru Miyamoto confirms new entry in the series.

BJ's Wholesale Club Inc said it may put itself up for sale, under pressure from a private equity firm that may make a hostile bid.