IBT Staff Reporter

The four largest mortgage lenders in the United States were grilled on Capitol Hill on Thursday about the limited number of home loans they have modified for homeowners facing foreclosure.

After a brief rally yesterday, the AUD has fallen back through USD0.8700 as risk aversion trading was back in play.

Banks would face tougher curbs on trading but would be able to hold limited hedge fund positions under a proposal unveiled by Senate Democrats as they closed in on a final overhaul of financial regulations.

Research in Motion said quarterly profit rose almost 20 percent, but the BlackBerry maker's shares fell 3.7 percent in trade after the bell as shipments and subscriber growth fell short of expectations.

Research in Motion said on Thursday quarterly profit rose almost 20 percent, but the BlackBerry maker's shares fell 3.7 percent in trade after the bell as shipments and subscriber growth fell short of expectations.

Oracle Corp reported quarterly profit that exceeded Wall Street projections on Thursday, as its recently acquired Sun Microsystems hardware division added to earnings.

With a distinct lack of any local economic data the Aussie dollar traded within a narrow band bouncing between 0.8670 and 0.8770 over the last 24 hours.

Top Chinese e-commerce firm Alibaba.com, plans to buy Vendio Services Inc, making its first major U.S. acquisition to further its strategy of expanding its global footprint.

There is great confusion among the scientific community about whether women who are drug abusers should breast feed their babies. In order to shed some light on this issue, scientists from various Spanish hospitals and research centres are reviewing the methods used to detect substances in breast milk, their adverse effects, and the recommendations that mothers should follow in this month's issue ...

The S&P 500 fell for the fourth straight day on Thursday as fresh signs of consumer weakness and worries about stringent financial regulation provoked investors to unload positions.

The United States said on Thursday world leaders must work to keep economic growth on track but Europe dug in its heels ahead of a G20 summit, insisting that now was the time to work on cutting costs.

The E 300 L is actually the first model that Daimler developed specifically for the Chinese market

IBM has filed a lawsuit to prevent former senior executive Joanne Olsen from taking a job with rival Oracle Corp , which wooed her away from IBM after 31 years with the company.

New claims for state jobless benefits fell last week while a closely watched gauge of demand for factory goods rebounded in May, offering assurance the economy's fragile recovery remains intact.

The S&P 500 fell for the fourth straight day on Thursday as fresh signs of consumer weakness and worries about stringent financial regulation provoked investors to unload positions.

The Supreme Court on Thursday threw into doubt the fraud convictions of former Enron Corp Chief Executive Jeffrey Skilling and ex-media baron Conrad Black, a setback for the U.S. Justice Department in two of the biggest corporate fraud prosecutions of the last decade.

Morgan Stanley agreed on Thursday to pay $102 million to end an investigation in Massachusetts into unfair lending practices.

The Management Tip of the Day offers quick, practical management tips and ideas from Harvard Business Review and HBR.org (www.hbr.org). Any opinions expressed are not endorsed by Reuters.

Lawmakers on Thursday agreed to boost banks' capital requirements and neared agreement on a derivatives crackdown as they closed in on a historic overhaul of financial regulations.

When people hear Las Vegas, their minds usually conjure up images of the bright neon lights of the Vegas Strip, multimillion dollar casinos crammed full with slot machines, blackjack tables, video poker machines, and roulette wheels.

A sharp increase in temporary work -- a traditional leading indicator of in the early phase of recovery -- shows that many European countries and the United States are pulling out of recession, an industry association said on Thursday.

The company that oversees Web addresses is expected to give the go-ahead on Friday for the creation of a .xxx suffix for websites with pornographic content, company officials indicated on Thursday.

Microblogging service Twitter has agreed to a settlement with the U.S. Federal Trade Commission over charges it put its customers privacy at risk by failing to safeguard their personal information.

Last minute proposals to U.S. legislation designed to reduce risks in the $450 trillion derivatives markets may limit competition among firms seeking to centrally clear contracts, a trade association said on Thursday.

JOHANNESBURG (Reuters Life!) - Want to hear what your favorite pop star or politician sounds like accompanied by the most memorable sound of the soccer World Cup in South Africa -- the droning vuvuzela trumpet?

Morgan Stanley agreed on Thursday to pay $102 million to end an investigation in Massachusetts into unfair lending practices.

Stocks fell on Thursday on worries the economic recovery was slowing, with banks also pressured by congressional negotiations on a financial regulatory overhaul.

Honda Motor Co 's new hybrid car will cost one fifth less than the cheapest hybrid on the Japanese market, according to a newspaper report -- a move that may make hybrids low profit margin models for automakers.

Auto maker Zhejiang Geely said on Thursday it was teaming up with Chinese regional asset manager Daqing State Asset Operation Co in its planned $1.8 billion takeover of Ford Motor Co's Volvo Cars unit.