IBT Staff Reporter

Verizon Wireless on Thursday started giving smartphone users the option of paying for calls in advance instead of committing to long-term contracts, a move that pits it directly against rivals like Leap Wireless .

Pakistan withdrew test captain Salman Butt and their two opening bowlers Mohammad Amir and Mohammad Asif from their one-day team on Thursday after intense pressure from the world and English governing bodies.

Israeli and Palestinian leaders began their first round of direct peace negotiations in more than a year on Thursday, pledging to meet again in two weeks as part of a U.S.-brokered quest for peace.

U.S. regulators probing the May flash crash are focusing on a trading practice known as quote stuffing, in which large numbers of rapid-fire orders to buy or sell stocks are placed and canceled almost immediately.

Stocks rose on low volume on Thursday as data showed improvement in housing and the job market a day ahead of the critical monthly payrolls figures.

Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping quell fears the economy could face a double-dip recession.

The European Central Bank extended its liquidity safety net for vulnerable euro zone banks into next year, delaying its exit from crisis measures for now as it urged caution about the economic recovery.

U.S. Federal Reserve Chairman Ben Bernanke said he was partly to blame for leaving the wrong impression that the central bank could have saved Lehman Brothers from failure in 2008.

Rapper T.I. has been released from jail after being arrested on suspicion of possessing ecstasy, police said on Thursday.

Hollywood is singing with record revenue despite registering a five-year drop in movie attendance. According to Hollywood box-office analyst Paul Dergarabedian, the profit went up $100 million up from last year.

Test captain Salman Butt and bowlers Mohammad Amir and Mohammad Asif will miss Pakistan's one-day series against England after pressure from the English and international governing bodies.

Burger King Holdings Inc , the No. 2 U.S. fast-food chain, agreed to sell itself to investment firm 3G Capital for about $3.26 billion (2.11 billion pounds) in a deal analysts said would give the restaurant breathing room to fix its business.

The Obama administration will spend $5 billion to reimburse 80 percent of the companies' health insurance costs provided to early retirees who leave the US workforce between the ages of 55 to 64.

The International Monetary Fund will give Pakistan $450 million (£292.26 million) in emergency flood aid, providing some relief for a government overwhelmed by the disaster and facing renewed militant violence.

Stocks rose and U.S. Treasuries fell on Thursday as U.S. data showed strength in the economy, but investors were mainly focussed on Friday's closely followed U.S. unemployment report for economic clues.

Former Prime Minister Gordon Brown will join efforts to improve access to education and the internet as part of pro bono work following Labour's election loss in May, his spokesman said on Thursday.

Google Inc is in talks with music labels on plans for a download store and a digital song locker that would allow its mobile users to play songs wherever they are as it steps up its rivalry with Apple Inc, according to people familiar with the matter.

Thousands of workers on London's underground rail system will start a series of strikes next Monday after talks aimed at ending a dispute over job cuts broke down, a union said on Thursday.

Fresh out of a jail stint and rehabilitation program, troubled actress Lindsay Lohan in an interview to Vanity Fair magazine has admitted that she had been irresponsible in life.

Samsung Electronics' first tablet computer, the Galaxy Tab, will go on sale in two weeks, it said on Thursday, turning up the heat on Apple Inc's iPad.

Boeing Co reiterated on Thursday that it expects North America airlines to take delivery of about 7,200 new planes over the next 20 years at a value of about $700 billion.

Israeli and Palestinian leaders began direct peace negotiations on Thursday, sitting down for U.S.-brokered talks even as hard-liners on both sides vowed never to accept a deal.

U.S. Federal Reserve Chairman Ben Bernanke said on Thursday he could not have legally saved Lehman Brothers from bankruptcy and the firm's catastrophic failure in 2008 was a source of sadness.

A recent study indicates that millions of low- and middle-income people in most part of the globe will go down below poverty line for buying expensive yet essential medicines.

Apple Inc introduced a new version of Apple TV on Wednesday with shows from just two networks, underscoring its struggles to win over a media industry worried about losing control over the pricing of its programs.

Mozambique's government deployed troops to clear barricades in the capital as angry protesters blocked roads and looted shops on Thursday, the second day of riots caused by soaring bread prices.

A monthly gauge of U.S. online labor demand dropped 1 percent in August, but rose 12 percent from a year ago.

Burger King Holdings Inc , the No. 2 U.S. fast-food chain, agreed to be bought by investment firm 3G Capital for $24 per share, or about $3.26 billion (2.12 billion pounds).

Royal Bank of Scotland announced thousands of new job cuts on Thursday as the part-nationalised bank continues with its drive to trim costs and improve its profitability.