IBT Staff Reporter

Germany's national consumer-protection agency may take legal measures against Facebook if it finds that the social network's new privacy controls do not meet German data-protection standards.

Cheap stocks and robust consumption by its middle class are reason to buy into China now, even though markets have turned cautious on the world's No.3 economy, a fund manager at BlackRock told Reuters.

The Treasury's number two official vowed on Thursday to fight efforts to weaken the U.S. financial reform bill and said it should include the so-called Volcker rule which would separate banking from proprietary trading.

Stocks rose sharply on Thursday as investor worry was eased after China refuted a report that it was reviewing its holdings in euro-zone sovereign bonds due to the region's debt.

The Western multinationals that have dominated global trade for decades are going to have their lunch eaten in China and elsewhere, and many are unaware it's about to happen.

The U.S. economy grew at a slightly slower pace than previously estimated in the first quarter but the recovery still appeared solid, suggesting the economy could withstand fallout from a European debt crisis.

Kenneth Starr, a New York investment adviser to celebrities such as movie director Martin Scorcese and actor Uma Thurman, was arrested by U.S. agents on Thursday on charges of running an alleged investment fraud of as much as $30 million, prosecutors said.

Democrats in the Senate concerned about the impact of a proposed tax hike on investment fund managers have drafted new options that would tax a smaller slice of their income at ordinary tax rates, a Democratic aide familiar with the discussions said.

Major U.S. indexes advanced on Thursday as investors were soothed after China denied a report that it was reviewing its holdings in euro-zone sovereign bonds due to the region's debt crisis.

Stocks advanced more than 2 percent on Thursday after China denied a report that it was reviewing its holdings in euro-zone sovereign bonds due to the region's debt crisis.

Australia's rice output in the crop year ended March 31 is expected to touch around 205,000 metric tons or triple from 63,000 tons, according to the grains report by the New South Wales Industry & Investment department.

Warehouse club operator Costco Wholesale Corp and close-out retailer Big Lots Inc both posted higher-than-expected quarterly profits as consumers were willing to spend on more than just essentials.

Collateralized debt obligations are as hard to love as they are to fathom. The scourge of the financial world, these complex subprime mortgage-linked securities caused hundreds of billions of dollars in losses for banks, hedge funds and insurers.

Unemployment claims fell last week, suggesting the battered labor market is recovering but only slowly, the Labor Department said on Thursday.

NEW YORK (Reuters Health) - A small study suggests that a surgical treatment generally used on patients with tumors and certain brain disorders may put a stop to nosebleeds that won't stop any other way.

A free online service has been launched to connect willing study participants with Australia's scientific institutes and universities.

Microsoft Corp Chief Executive Steve Ballmer was unperturbed a day after rival Apple Inc shot past his firm as the world's biggest tech company by market value and said his aim was to develop a good product line and earn more profits.

Stocks surged 2 percent on Thursday after China denied a report it was reviewing its holdings in euro-zone sovereign bonds due to the region's debt crisis.

(Reuters) - Sellers of ginseng, echinacea and other herbal and dietary supplements often cross the line in marketing their products, going as far as telling consumers the pills can cure cancer or replace prescription medications, a U.S. government probe found.

H.J. Heinz Co forecast a 7 percent to 10 percent increase in earnings as it continues to speed up growth in emerging markets and invest in new products and promotions.

Backtracking by international donors in funding for HIV/AIDS may undermine years of progress and is already putting lives at risk, the health aid group Medecins Sans Frontieres (MSF) said on Thursday.

Hedge fund firm Man Group raised hopes it had finally stemmed client outflows and unveiled plans to launch new funds aided by its $1.6 billion purchase of smaller rival GLG last week, boosting its shares.

The economy grew at a slower pace than previously estimated in the first quarter as business investment slackened, while hard-hit state and local governments reduced spending at the steepest rate since 1981.

The economy grew at a slower pace than previously estimated in the first quarter as businesses investment slackened, while hard-hit state and local governments curbed spending at the steepest rate since 1981, a government report showed on Thursday.

Australian Medical Association (AMA) vice president Steve Hambleton has urged caution on the risk of taking up cosmetic plastic surgery and dental holidays offered by a new launched Gold Coast Business.

H.J. Heinz Co posted higher quarterly profit as increased spending on price promotions helped boost sales, but it also said earnings for the current fiscal year would be hit by currency fluctuations.

Stock index futures pointed to a rise of about 2 percent at the open on Thursday after China denied a report it was reviewing its holdings in euro-zone sovereign bonds due to the region's debt crisis.

The euro rebounded on Thursday after China reaffirmed its long-term strategy of diversifying currency holdings away from the dollar and denied it was reviewing its holdings of euro sovereign bonds.

A 10th employee of iPhone-maker Foxconn jumped to his death late Wednesday, just hours after the company's chairman promised to make life better for employees at the sprawling production site in southern China.