IBT Staff Reporter

Morgan Stanley's commodities risk fell in the fourth quarter as it faced trading woes similar to the rest of Wall Street, but the No. 2 U.S. investment bank still pipped top rival Goldman Sachs with a higher risk year-on-year.

Boeing Co said on Thursday it would lay off 1,100 workers who make the company's C-17 cargo plane, as it scales down assembly rates to extend the life of the production line.

Chinese President Hu Jintao is meeting with Congressional leaders on Thursday, with discussion of the yuan on the agenda.

Wal-Mart Stores Inc unveiled a plan to promote healthier and more affordable foods at its stores, a move supported by U.S. first lady Michelle Obama and one that could push food companies to overhaul some products.

Spain is finalizing plans to find fresh funds for its troubled savings banks, officials said, prompting speculation the government may have to spend more while fighting to slash a massive deficit.

India on Thursday said it is considering to allow foreign direct investment (FDI) in multi-brand retail and defense sectors as part of its efforts to step up foreign investments into the country.

Indian pharmaceutical company Dr Reddy's Laboratories Ltd on Thursday said it has launched a generic version of Protonix, a drug used to control the amount of acid in the stomach, in the United States.

Police questioned former banker Rudolf Elmer on Thursday over possible fresh breaches of Swiss bank law for giving data to WikiLeaks this week, a day after he was found guilty of violating bank secrecy.

Sony Ericsson is looking to a new line of smartphones to boost growth after a disappointing end to last year.

Morgan Stanley said fourth-quarter shareholder profit surged 60 percent as rising fees from wealth management offset the weak fixed-income trading results that have marred its competitors earnings.

A committee of Hewlett Packard directors will investigate former CEO Mark Hurd's departure from the company amid sexual harassment allegations last year, according to a recent court filing.

Wendy's/Arby's Group plans to sell its struggling Arby's roast beef sandwich chain to focus on the Wendy's hamburger business, which top shareholder Nelson Peltz expects to be the company's engine of growth.

Southwest Airlines Co reported a higher quarterly profit on Thursday on better passenger revenue, even as rising fuel costs boosted operating expenses.

U.S. home resales jumped more than expected in December despite bad weather as sellers cut prices while jobless claims fell sharply last week, offering some hope for the economy's two key trouble spots.

T-Mobile has teamed up with Location Labs to create apps allowing parents to track children and stopping them from texting while driving.

The European Commission approved more than 1.8 billion euros ($2.43 billion) in state aid for broadband projects last year -- a fourfold increase -- as part of a strategy to boost growth and create jobs.

Gold fell like a stone on Thursday, following three days of gains, and ignored a recovery in the euro as investment demand waned. Spot gold fell over $20 to $1,348.55 an ounce by 1426 GMT.

Forcing banks to lock up more cash is China's most viable policy option for now as it battles inflation, though that won't shut the door on higher interest rates and faster rises in the yuan.

Stocks fell on Thursday led by losses in the technology sector and on worries that China's rapid growth may lead to more aggressive measures to tackle inflation.

Artists, designers, entertainers and philanthropists are joining forces for the second annual green auction, which last year raised over $2 million for environmental groups.

Wendy's/Arby's Group plans to sell its struggling Arby's roast beef sandwich chain to focus on the Wendy's hamburger chain, which its top shareholder expects to be the company's engine of growth.

UnitedHealth Group Inc posted better-than-expected fourth-quarter profit, helped by moderating use of medical services by its members and enrollment growth across its health plans.

Facebook's global reach has been the envy of many companies, as about 70 percent of its 500 million users are from outside US and now Facebook has launched an app for feature phones to further bolster its march.

Amazon.Com is to buy the 58 percent of British DVD and games rental firm Lovefilm it does not already own for an undisclosed price, it said on Thursday.

The companies that reported earnings before the markets open on Thursday are: Morgan Stanley, Union Pacific, UnitedHealth Group Inc., Johnson Controls, Parker Hannifin, Southwest Airlines, Rockwell Collins and Huntington Bancshares.

On a blustery and drizzly December afternoon in the Pacific Northwest, about 20 airplanes sat engineless and inert near the runway at a Boeing manufacturing plant. Huge, yellow blocks hung from the wings of some planes to substitute for the weight of absent engines.

Everything old is new again for one Japanese manufacturer, which has unveiled an electronic version of a rickshaw.

Khalid Sheikh Mohammed, currently in U.S. custody for alleged acts of terrorism, is responsible for the death of U.S. journalist Daniel Pearl, CNN reported, citing a report released by the Pentagon.

Michelle Obama asks American students to study in China, stressing the need for competitiveness and cooperation