IBT Staff Reporter

Qantas Airways is claiming damages from engine maker Rolls-Royce over faulty Airbus A380 engines and loss of business, as investigators concluded a design fault was the likely cause of a mid-air engine failure on an Airbus A380 last month.

The Senate will vote on two Democratic options to extend some Bush-era tax cuts on Saturday, its Democratic leader said, measures likely to fail but highlight deep ideological divisions between the parties.

'Do not track' legislation gains momentum with backing from the FTC and privacy advocates.

Aircraft suppliers Rockwell Collins Inc and Goodrich Corp said on Thursday they could gain new business as a result of this week's announcement that EADS unit Airbus would upgrade its A320 plane with better engines that offer 15 percent fuel savings.

Republicans, who will control the House of Representatives in January, greeted the idea of Internet do not track legislation coolly on Thursday, expressing concern that hindering advertiser access to consumers web browsing habits would slow innovation.

American International Group is considering another debt offering after the success of its $2 billion sale earlier this week, its Chairman Steve Miller said on Thursday.

Qantas Airways has alleged engine maker Rolls-Royce was in breach of duty when it supplied engines for its Airbus A380 aircraft because of a design defect, the airline said in document filed in an Australian court.

Thieves in Britain are using Google Earth to target lead roofs on Church of England buildings to sell on the lucrative metals market, a Church spokesman said.

Russia and Qatar won the rights to host the FIFA World Cup finals for 2018 and 2022 respectively after FIFA's 22-member panel voted through a secret ballot at Zurich, Switzerland on Thursday.

The U.S. futures regulator asked traders on Thursday how best to define trading practices now banned in a new Wall Street reform law, but got little clarity from the experts, who fear an overly restrictive crackdown.

The FIFA World Cup, the biggest tournament in soccer, will be headed to new regions as Russia won the 2018 bid on Thursday over rivals which included England and tiny emirate Qatar beat a group including the United States for the 2022 tournament.

While negotiators for both political parties worked behind the scenes to hammer out a deal on extending the Bush-era tax cuts and, possibly, unemployment insurance, House Democrats pushed through a measure that would extend the tax cuts for individuals making less than $200,000 and married couples making less than $250,000.

Senate Finance Committee Chairman Max Baucus said on Thursday he will oppose a deficit reduction plan drafted by the co-chairmen of a presidential fiscal commission, becoming the third member of the panel to line up against it.

A bold plan to slash the U.S. budget deficit appeared on Thursday to be falling short of the support needed from members of a presidential commission to trigger congressional action.

The U.S. defense budget will likely decline somewhat in coming years, although it is not clear exactly when or by how much, a top Pentagon official told an investor conference on Thursday.

Amazon.com and eBay Inc are investing in local Internet services, jumping aboard the increasingly popular and lucrative business of catering to local shoppers and stores.

DirecTV Group plans to expand its customer base by offering cheaper TV packages with fewer channels and exploring new ways of bundling Internet access with its satellite TV service, the company's top executive said on Thursday.

The Federal Reserve's controversial $600 billion bond buying program is subject to regular review and can be adjusted if needed, two Fed officials said on Thursday.

Republican lawmakers on Thursday met with a senior Federal Reserve official who opposes the central bank's easy money policies to discuss stripping the Fed of its task of ensuring full employment.

Republicans, who will control the House of Representatives in January, greeted the idea of Internet do not track legislation coolly on Thursday, expressing concern that hindering advertiser access to consumers web browsing habits would slow innovation.

Fall back on your sofa in five years, snap your fingers to turn on a TV that's thin as paper and stretches across a wall, then ask it to switch to your favorite sports channel so you can watch the day's baseball game in 3-D -- no glasses required.

The Federal Reserve's balance sheet grew for a fifth consecutive week and closed in on its record size, with the rise stemming from its ongoing purchases of Treasuries, Fed data released on Thursday showed.

The trustee seeking money for defrauded former clients of Bernard Madoff said he filed a $6.4 billion lawsuit accusing JPMorgan Chase & Co of aiding the imprisoned Ponzi schemer's fraud as his main banker.

The House of Representatives, in the waning days of Democratic control, passed an extension on Thursday of Bush-era tax cuts for the lower and middle classes in a symbolic vote that would let tax cuts for the wealthiest expire.

Wall Street rallied for a second day on Thursday as concerns about Europe's sovereign debt crisis waned, forcing investors to reverse bearish bets on the market.

Global law firm Clifford Chance has denied the charges of discrimination slapped against it in a lawsuit filed by a former associate in connection with 2007 layoffs.

Scientists found a form of bacteria that can use arsenic in its DNA, and uses the arsenic to metabolize and grow.

The top Republican lawmaker on a key U.S. military oversight committee, while leaving open the possibility of eventually dropping his opposition to the repeal of the military's ban on openly gay and lesbian soldiers, said doing so at this time would be premature.

U.S. Federal Reserve Chairman Ben Bernanke will appear on the news program 60 minutes on Sunday, part of an effort by the central bank to step up its public communications.