IBT Staff Reporter

Pakistan tightened security in the eastern city of Lahore on Thursday after three bomb attacks killed 33 people and wounded 171 and pressured the U.S.-backed government already overwhelmed by floods.

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

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

A buyout deal for Burger King Holdings Inc <BKC.N> by investment firm 3G Capital is being valued at $24 per share, or about $4 billion (2 billion pounds), cable business channel CNBC reported on Thursday.

The S&P 500 and Nasdaq advanced on Thursday, building on their best day in eight weeks in the previous session as data showed an improvement in pending home sales and a drop in initial jobless claims.

A buyout deal for Burger King Holdings Inc by investment firm 3G Capital is being valued at $24 per share, or about $4 billion (2 billion pounds), cable business channel CNBC reported on Thursday.

The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony on Thursday to the Financial Crisis Inquiry Commission on the problem of financial institutions that are too big too fail.

Panasonic Corp is aiming to grab a 50 percent share of the European 3D television market this year as demand outstrips expectations and the technology wins converts worldwide, its head of Europe said on Thursday.

Pakistan withdrew test captain Salman Butt and bowlers Mohammad Amir and Mohammad Asif from the tour of England on the advice of the International Cricket Council, a source in the team said on Thursday.

The following are highlights from Federal Reserve Chairman Ben Bernanke's testimony on Thursday to the Financial Crisis Inquiry Commission on the problem of financial institutions that are too big too fail.

Powerful Hurricane Earl bore down on the U.S. East Coast on Thursday on a path towards North Carolina's barrier islands, which it was expected to lash with dangerous winds and pounding surf.

The European Central Bank held interest rates at a record low on Thursday and extended its liquidity safety-net in response to a lopsided recovery and worries about vulnerable banks.

U.S. retailers posted sales that beat modest expectations in August as consumers sought out bargains during the key back-to-school selling season.

A buyout deal for Burger King Holdings Inc by investment firm 3G Capital is being valued at $24 per share, or about $4 billion (2 billion pounds), cable business channel CNBC reported on Thursday.

The S&P 500 and Nasdaq gained on Thursday, building on their best day in eight weeks in the previous session as data showed an improvement in pending home sales and a drop in initial jobless claims.

Afghan President Hamid Karzai strongly condemned an air strike by NATO-led forces which he said killed 10 campaign workers for this month's election, a sour note as U.S. Defence Secretary Robert Gates arrived for talks.

Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.

Automaker General Motors Co plans to begin courting investors for its initial public offering immediately after the November 2 U.S. midterm congressional elections.

Two top U.S. Federal Reserve officials on Thursday called for a more community-focused approach to the country's ongoing foreclosure crisis, which is weighing on its economic recovery.

German carmaker Volkswagen is planning a new assembly line at Russia's GAZ in order to boost production in the booming market.

German new car registrations in August were 27 percent lower than a year ago when buyers enjoyed the last of the government's car scrappage incentives, according to official data published on Thursday.

World stocks hit a two-week high on Thursday as optimism from strong U.S. and Chinese manufacturing data extended into a second day while the euro gained, drawing support from solid French and Spanish bond auctions.

Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.

U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.

China is stepping up attempts to hamper BHP Billiton's <BHP.AX> <BLT.L> $39 billion (25 billion pounds) hostile offer for Potash Corp <POT.TO>, amid worries about future supplies of fertiliser it needs to rapidly boost food production.

Foreign Secretary William Hague said on Thursday he had gone public to deny rumours he was gay and in a relationship with an aide because he and his wife were fed up of the allegations.

Ferrari said it is recalling more than 1,240 of its 458 Italia supercars to replace an adhesive prone to melting after five reports of fire accidents.

Fannie Mae, the largest provider of funding for U.S. residential mortgages, will begin demanding compensation from mortgage servicing companies that fail to properly handle troubled mortgage loans.

U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.