IBT Staff Reporter

CIT Group Inc's new shares rose as much as 6 percent from opening levels in their debut on the New York Stock Exchange on Thursday as the lender to small businesses emerged from one of the largest bankruptcies in U.S. history.

Citigroup Inc is talking with the U.S. government about paying back its bailout money, but it is not clear whether a deal is imminent, a person familiar with the matter said on Thursday.

The number of U.S. workers filing new claims for jobless benefits rose more than expected last week, but a surprise narrowing in the trade gap in October indicated the economy remained firmly on a steady growth path.

A consortium including Google and KDDI Corp has signed a deal on Thursday to build and operate an international undersea cable system, estimated to cost $400 million.

Stocks advanced on Thursday as data showed continuing claims for jobless benefits fell while the trade gap unexpectedly narrowed for October, which should provide a lift to the economy.

As the tally of alleged mistresses continues to rise, text messages Tiger Woods allegedly exchanged with his mistresses continue to be released.

The head of GM's Buick and GMC brands has resigned after only nine days on the job in a continuing shakeup of the automaker's top ranks under Chairman and Chief Executive Ed Whitacre.

General Electric Co said on Thursday it won a $1.4 billion contract from energy producer Caithness Energy LLC to supply wind turbines for what will eventually be the world's biggest wind farm.

Eli Lilly and Co forecast 2010 earnings in line with Wall Street expectations, but suggested earnings could fall after its biggest drugs lose patent protection between 2011 and 2014.

The U.S. economy is struggling against headwinds that mean the government must retain the ability to respond to unexpected crises, even as it starts to wind down emergency programs, Treasury Secretary Timothy Geithner said on Thursday.

Accepting his Nobel Peace Prize, U.S. President Barack Obama urged leaders on Thursday to confront climate change and warned of dire consequences if the world did nothing to curb rising carbon emissions.

The United States, Britain and France warned Iran on Thursday that it would face further sanctions if it continued to flout international demands that it halt sensitive nuclear activities.

Stocks advanced on Thursday as data showed continuing claims for jobless benefits dropped while the trade gap unexpectedly narrowed for October, which should provide a lift to economic growth.

Billionaire financier George Soros outlined a way to unlock $100 billion (61.5 billion pounds) to help slow global warming on Thursday as talks on a new U.N. climate deal slowed over tough demands by the Pacific island state of Tuvalu.

Citigroup Inc is talking to the U.S. government about paying back its bailout money, but it is not clear if a deal is imminent, a person familiar with the matter said on Thursday.

Thousands of supporters of former Thai premier Thaksin Shinawatra rallied in Bangkok on Thursday, turning up the heat on Thailand's embattled government ahead of big protests planned for January in a push for new elections.

Prime Minister Gordon Brown and French President Nicolas Sarkozy called for an exceptional tax on global bank bonuses in a joint newspaper column on Thursday.

Iraqi insurgents linked with al Qaeda claimed responsibility for bombings that killed 112 people this week and said their campaign of violence would continue, according to an Islamist website.

Chinese thin film solar company Trony Solar Holdings Co Ltd has postponed its initial public offering indefinitely, an underwriter said on Thursday.

The U.S. envoy for North Korea failed to secure a firm commitment from the isolated state to resume nuclear disarmament negotiations but said on Thursday he had won assurance that it supported the languishing deal.

General Electric Co said on Thursday it won a $1.4 billion contract from energy producer Caithness Energy LLC to supply wind turbines for what will eventually be the world's biggest wind farm.

The US President Barack Obama accepted the Nobel peace prize Thursday in Oslo with a medallion and $1.4 million dollars in prize money.

The U.S. trade deficit narrowed unexpectedly in October as the weak U.S. dollar helped boost exports and demand for imported oil fell to its lowest daily level since January 2000, a Commerce Department report showed on Thursday.

Nokia will close its only two flagship stores in the United States, in a sign its retail strategy of flashy brand-booster outlets is needing a refresh.

Citigroup Inc remains locked in active negotiations with the government over the company's plans to repay federal bailout funds, and it is not clear whether any deal is imminent, a person familiar with the talks said on Thursday.

Citigroup Inc is planning to sell roughly $15 billion of common shares to help repay funds borrowed under the Troubled Asset Relief Program, people briefed on the matter said on Thursday.

U.S. crude for January delivery rose 28 cents to $70.95 a barrel by 1537 GMT (10:37 a.m. EST), after losing almost $2 in its sixth straight day of losses on Wednesday, when it hit the lowest since early October at $70.13.

Sony debuted, what it called, the PlayStation 3 Motion Controller at the E3 event earlier this year. Since then, the company has kept mum on what the product will actually be called, until now.

The yield on the contract due January 2011 DIJF1 fell to 10.37 percent from 10.46 percent. The yield on the contract due April 2010 DIJJ0 fell to 8.75 percent from 8.8 percent. Both were among the most active contracts of the morning.