IBT Staff Reporter

The Obama administration is preparing to unveil a revised deepwater oil drilling moratorium after a federal court refused on Thursday to reinstate an earlier ban imposed after BP Plc's massive oil spill.

The Obama administration is preparing to unveil a revised deepwater oil drilling moratorium after a federal court refused on Thursday to reinstate an earlier ban imposed after BP Plc's massive oil spill.

LeBron fever is in full bloom in the options market.

A U.S. appeals court dealt the Obama administration a setback on Thursday when it refused to halt deepwater oil drilling, but analysts said they did not expect companies to begin operations soon.

The Obama administration declined to label China a currency manipulator in a long-delayed report on Thursday, spurring fresh calls from U.S. lawmakers for tough new steps to pressure Beijing.

Venezuelan police said on Thursday they arrested two people for spreading false rumors on the micro-blogging site Twitter aimed at destabilizing the Latin American country's banking system.

The U.S. Treasury Department said on Thursday that China's yuan remains undervalued, but it declined to say that China or any other country manipulates their currencies for trade advantage.

A U.S. appeals court on Thursday rejected the Obama administration's request to put on hold a ruling that lifted a temporary moratorium on deepwater drilling in the wake of the BP Plc oil spill in the Gulf of Mexico.

American scientists have discovered two antibodies that fight different AIDS viruses providing the medical community a potential blueprint for designing a vaccine against the immune system disease.

High unemployment and a moribund housing market have increased risks to the U.S. economic recovery, while the public debt looms large and needs to be cut, the International Monetary Fund said on Thursday.

A U.S. appeals court said on Thursday it would rule by early next week on whether to stay a lower court decision to lift a six-month ban on deepwater oil drilling imposed by the Obama administration.

The U.S. Treasury Department said on Thursday that China's yuan remains undervalued, but it declined to say that China or any other country manipulates their currencies for trade advantage.

A teenager from Melbourne was seriously injured on Wednesday after being run over by bulls during the annual running of the bull in Pamplona, Spain.

Wall Street rose for a third straight day on Thursday as investors were encouraged to see jobless claims fall and a handful of large retailers report solid sales.

Wall Street rose for a third straight day on Thursday as investors were encouraged to see jobless claims fall and a handful of large retailers report solid sales.

New U.S. claims for jobless benefits fell last week to their lowest level in two months, offering cautious hope for an economic recovery that had shown signs of fatigue.

Greek lawmakers approved sweeping pension reforms on Thursday as part of measures aimed at pulling the troubled euro zone nation out of a debt crisis, while thousands of striking workers took to the streets.

New U.S. claims for jobless benefits fell more than expected last week to their lowest level in two months, offering cautious hope for an economic recovery that had shown signs of fatigue.

U.S. retailers relied heavily on promotions to boost sales in June, helping teen clothing chains and department stores, but the trend may hit margins as they head into the key back-to-school shopping season.

Cable operators and entertainment companies are talking about selling cheaper cable TV packages with fewer channels to attract and keep customers trying to save money in a weak economy.

The Dow and the S&P 500 rose modestly on Thursday on strong June sales at several retailers and stronger-than-expected jobs sector data, but losses in the technology sector eased the market off its highs.

Researchers have discovered two previously unknown species of bottom-dwelling fish in the Gulf of Mexico, living right in the area affected by the BP oil spill.

BP Plc is ready to switch caps at the wellhead of the gushing Gulf of Mexico leak to create a hurricane-ready system that can capture more oil, the top official overseeing the spill response said on Thursday.

The heiress at the heart of a political donations storm that has rocked France is the nation's third wealthiest in an annual rich list, with her fortune up by 40 percent this year to 14.4 billion euros ($18.14 billion).

Ukraine's parliament on Thursday approved budget cuts bringing the deficit in line with the International Monetary Fund's requirements after brief resistance from the Communist allies of the government.

The global private banking sector has the potential to nearly double its size thanks to about $10 trillion of untapped wealth that is still up for grabs, according to the Scorpio Partnership's annual benchmark.

An American ship disposal expert is disputing a claim by Australia's Minister of Planning, Tony Kelly, that paint in the HMAS Adelaide has no toxic lead.

High unemployment and a moribund housing market have increased risks to the U.S. economic recovery, while the public debt looms large and needs to be cut, the International Monetary Fund said on Thursday.

Russian gas giant Gazprom was the world's most profitable company in 2009 despite ranking 50th in revenue, Fortune magazine said on Thursday with the publication of the Fortune Global 500.