IBT Staff Reporter

Federal Reserve Chairman Ben Bernanke on Thursday defended his record at the helm of the U.S. central bank before a skeptical Senate that is considering stripping the institution of its regulatory powers.

Oil and gas company Denbury Resources Inc (DNR.N) said it would buy a 95 percent working interest in the Conroe Field in Houston for about $430.7 million in cash and stock from Wapiti Energy LLC.

U.S. mortgage rates dropped to a record low in the latest week, as rates fell for a fifth straight week, a closely watched mortgage survey showed Thursday.

The top U.S. securities regulator pushed on Thursday to reform mutual fund fees that traditionally used to stimulate fund growth and help cut shareholder expenses.

Bank of America Corp will sell the securities it will use to help repay $45 billion in government bailout funds Thursday evening, based on extraordinary interest, its chief financial officer said.

Federal Reserve Chairman Ben Bernanke on Thursday defended his record at the helm of the U.S. central bank before a skeptical Senate that is considering stripping the institution of its regulatory powers.

There's something to be said for taking Greyhound through the USA - actually, there are many things and not all positive. But for eye-bursting stench, seats that

The U.S. services sector contracted in November, with an index measuring activity falling to its lowest reading since July, according to a report released on Thursday that was a shock to economists forecasting the economic recovery was gathering pace.

I'm a flashpacker and I'm proud of it. I haven't always considered myself one, of course. I used to relish sitting on train

The U.S. services sector unexpectedly contracted in November, with an index measuring activity falling to its lowest reading since July, according to an industry report released on Thursday.

U.S. retailers from Macy's to Costco posted much weaker-than-expected sales for November as shoppers focused only on big bargains at the start of the key holiday selling season.

Mining group Xstrata plans to boost capital spending next year by 89 percent to $6.8 billion to expand output and is considering whether to close or sell any of its four profit-squeezed copper smelters.

Stocks were little changed on Thursday as data showing that the vast U.S. services sector contracted in November stoked concerns about the strength of the recovery, offsetting Bank of America's plan to repay $45 billion of government aid.

U.S. computer maker Dell expects a moderately good holiday season and increased consumer and commercial demand next year, the company's chief financial officer said on Wednesday.

Hon Hai Precision, Taiwan's largest electronics parts maker, has signed a deal to buy Dell's factory in Poland to produce desktop computers, servers and other storage devices.

SAIC Motor Corp, China's biggest automaker, said on Thursday it suspended its trading on the Shanghai Stock Exchange as it plans a major asset restructuring.

Canada's Absolute Software Corp said it acquired LANrev security software product suite from Germany's Pole Position Software GmbH for about $14.6 million in cash and stock, to strengthen its position in the asset management and data protection markets.

The first song of Nick Jonas' new solo project Who I Am debuted Wednesday night at the Grammy nominations ceremony.

Federal Reserve Chairman Ben Bernanke on Thursday defended his record at the helm of the U.S. central bank before a skeptical Senate that is considering stripping the institution of its regulatory powers.

The British university caught in the center of what climate skeptics are calling ClimateGate, said on Thursday it's called an outside reviewer to lead the investigation. Ex-civil servant Sir Muir Russell will head the probe into the hacked e-mails and documents from the University of East Anglia Climatic Research Unit (CRU) in the UK last month.

A costly tie-up between PSA Peugeot Citroen and Japan's Mitsubishi risks landing Europe's number-two carmaker with a partner too small to exploit Asia's booming markets.

Backpackers aren't always the world's most ethical travelers. Having little money, and being in places where no one knows them, they get away with quite a bit. For the most part, it's nothing terrible, just a few misdemeanors. Here are a few of the ones that most backpackers don't tend to brag about:

Firebrand director Michael Moore is in Japan to promote his latest documentary on the global economic meltdown, which he says should resonate in a nation that has already seen the dark side of capitalism.

Rolling Stones guitarist Ronnie Wood was arrested by British police late on Wednesday on suspicion of assault and released on bail after questioning on Thursday.

R&B singer Beyonce led the field of Grammy contenders with 10 nominations on Wednesday, closely followed by teen country sensation Taylor Swift with eight, and both will compete for coveted album of the year.

General Motors Co sees limited sales of electric cars over the next five years and will ramp up output of its much-anticipated Volt plug-in cautiously, the automaker's vice-chairman said on Wednesday.

Japan's Nikkei average climbed nearly 4 percent on Thursday to hit its highest close in five weeks as exporters such as Canon Inc (7751.T) jumped on a weaker yen, while metal shares climbed after gold hit a new record.

Golfer Tiger Woods, engulfed in speculation over his private life after a car accident in the middle of the night, apologized on Wednesday for transgressions in a statement that apparently addressed allegations he had extra-marital relationships.

Bank of America Corp will sell the securities it will use to help repay $45 billion in government bailout funds Thursday evening, based on extraordinary interest, its chief financial officer said.