IBT Staff Reporter

Gold struck its third straight peak in as many days on Thursday because of its investor appeal as a safe asset while Asian stocks advanced as the appetite for risky assets remained strong despite Wall Street's dip.

China's online game revenues are expected to hit 73.1 billion yuan ($10.7 billion) in three years, driven by growing Internet penetration in the world's most populous country, a research firm said in a report released Thursday.

A group led by former Ford Motor Co executives has submitted a revised bid this week for Ford's Volvo unit and hopes to beat the offer by Chinese carmaker Zhejiang Geely Holding Group, the Wall Street Journal reported citing people familiar with the situation.

American Airlines said it, Oneworld alliance members and private equity fund TPG would be willing to invest $1.1 billion in Japan Airlines to match a similar bid from rival Delta and the SkyTeam alliance.

Goldman Sachs Group Inc is meeting with major investors in an effort to head off a possible investor backlash over its record bonuses, the Wall Street Journal reported on Wednesday.

American Airlines said it, Oneworld alliance members and private equity fund TPG would be willing to invest $1.1 billion in Japan Airlines to bolster the airline's finances and prevent it from defecting to a rival alliance.

Delta Air Lines said on Thursday that teaming up with a third party to support struggling Japan Airlines Corp, which is seeking a state bailout, was one option.

Federal Reserve officials sounded a relatively upbeat note on the U.S. economy on Wednesday, but warned timing withdrawal of the bank's extraordinary support for the economy will prove difficult.

Yahoo announced Wednesday a partnership with Facebook that will enable the two sites to share certain parts of their streams. Yahoo email account users will be able to check Facebook status from their inboxes. The service will also be available across other Yahoo properties, including News, Answers, and Sports, thanks to Facebook Connect.

Governor Arnold Schwarzenegger and Google unveiled a map of California's climate-changed future on Wednesday, part of the most populous U.S. state's first steps in planning to adapt to inevitable global warming.

The International Monetary Fund expects to cut its 2010 growth forecast for the United Arab Emirates as economic activity slows due to the debt woes of state-owned Dubai World, a top IMF official said on Wednesday.

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The U.S. government has identified flaws in equipment from four companies, including Cisco Systems Inc , that hackers can exploit to break into corporate computer networks.

National Beef Inc, a holding company that intends to buy a minority stake in the fourth largest U.S. beef company, said it will have an initial public offering of 17.25 million shares of common stock, according to a Securities and Exchange Commission filing on Wednesday.

The Delaware Supreme Court upheld the dismissal of appeals in a case over ownership rights at The Chicago Board Options Exchange, removing an obstacle to the CBOE's plan to turn itself into a for-profit shareholder company, the exchange said on Wednesday.

Footwear retailer Collective Brands Inc posted a third-quarter profit that beat market expectations, driven by a successful back-to-school season and strong boot sales, sending its shares up 8 percent in extended trade.

Australian fertiliser firm and takeover target Nufarm Ltd expects its first-half earnings to be lower than the previous corresponding period, the company told its shareholders meeting on Thursday.

Peet's Coffee & Tea Inc said it was yet to receive a notice from Diedrich Coffee Inc, terming Green Mountain Coffee Roasters Inc's latest offer as being superior to its bid.

General Electric Co and Comcast Corp are set to announce a joint venture on Thursday morning that would give the cable company eventual control of NBC Universal in this year's biggest media deal.

Top U.S. officials said the first of 30,000 new U.S. troops will arrive in Afghanistan in two to three weeks, but also made clear on Wednesday that plans to start bringing the soldiers home in 18 months could slip.

The U.S. Federal Reserve must remain alert to lurking inflation risks, and could begin removing monetary stimulus by selling some of the mortgage debt it acquired during the financial crisis, a top central bank official said on Wednesday.

Google is attempting to improve relations with media giants with its First Click Free policy that allows publishers to build pay walls around their online content. The search giant will also allow publishers to decide whether they want their sites to show up in Google News, Google Web search, both, or neither.

Ford Motor Co reintroduced the Fiesta small car to a U.S. audience on Wednesday after a three decade absence, a critical step in a turnaround that focuses on a revamped lineup to make a profit in 2011.

A federal judge has rejected Amazon.com Inc's request that he withdraw preliminary approval of a settlement between Google Inc and groups of authors and publishers to digitize millions of books.

Tiger Woods, the world's top-ranked golf player, issued an apology on his website today for his transgressions and personal sins following a series of extra marital affair rumors.

General Motors Co's management team was surprised and saddened by the sudden departure of Chief Executive Fritz Henderson this week, GM's Vice Chairman Bob Lutz said on Wednesday.

Democrats want increased lending to small businesses and funding for shovel ready transportation projects included in a job-creation bill they hope to pass in Congress next month to address the high U.S. unemployment rate.

While her friends were studying economic theory in college, Lisa Pineiro was busy raising her daughter and launching her own construction business. Now the 35-year-old trailblazer is empowering other young women to become successful entrepreneurs.

Demand for super-efficient LED lighting and other energy-saving lights will grow next year as both consumer awareness and the U.S. stimulus package spark sales, the head of Siemens AG-owned Osram Sylvania said on Wednesday.