IBT Staff Reporter

AOL plans to cut one-third of its workforce, or about 2,500 jobs, in an effort to trim some $300 million in annual costs as part of the Internet company's planned spin-off from Time Warner Inc.

Technology and basic materials shares led Wall Street's broad decline on Thursday, as bearish analyst comments on the semiconductor sector and a stronger U.S. dollar dented recent gains.

The launch of Wikipedia, emergence of the iPhone and the election of U.S. President Barack Obama were among the 10 most influential moments on the Internet in the past decade, according to the annual Webby awards.

The launch of Wikipedia, emergence of the iPhone and the election of U.S. President Barack Obama were among the 10 most influential moments on the Internet in the past decade, according to the annual Webby awards.

A gauge of the U.S. economy's prospects rose for a seventh straight month in October to a two-year high, a private research group said on Thursday, indicating the recovery was becoming entrenched.

Bond-fund manager Bill Gross on Thursday said that investors should disabuse themselves of the notion that interest rates are going to be lifted any time soon, even though assets such as gold have streaked to new records.

Phoenix Solar AG, one of Europe's largest solar power developers, is in talks to partner with a Chinese firm to push its business in China, said a company executive.

Bain Capital, which earlier this week announced a $1 billion acquisition of Bellsystem24 from Citigroup Inc, said it would look to list the Japanese telemarketer when it is ready to exit its investment.

Britain's small wind sector is booming despite the recession as many rural homes, farms or small business are putting up turbines in the yard to counter higher energy prices and blackouts.

Wal-Mart Stores Inc , which has already cut prices on everything from toys to turkeys to TVs to win holiday shoppers, is now reducing the price it charges for money transfers.

An injection of U.S. talent into the $6.5 billion market in carbon offsets would help clear bureaucratic bottlenecks, making way for increased investment in clean energy, the CEO of a $310 million environmental fund said.

The basic question is: What month of the year carries the highest number of active properties? The answer is...

Victoria Beckham unveiled details about her intimate life with husband soccer player and model David Beckham on the December issue of Allure magazine.

India's cabinet on Thursday approved its first solar power plan, pledging to boost output from near zero to 20 gigawatts (GW) by 2020 as part of its plan to fight global warming.

Britain's Vodafone is looking at new ways of making money from the mobile Internet, such as offering premium services, as the battle for control of an expanding market dominated by search engine Google hots up.

U.S. Republican Senator John McCain on Wednesday strongly defended the top advisers from his 2008 presidential campaign in the face of sharp criticism from his vice presidential running mate, Sarah Palin.

The United States must combat China's trade-distorting industrial and currency policies with U.S. trade laws and by using the World Trade Organization, a congressional advisory body said on Thursday.

Medical device maker China Medical Technologies Inc posted a quarterly loss, hurt by lower revenue from its immunodiagnostic segment, knocking its shares down 19 percent.

Greece's biggest refiner, Hellenic Petroleum, on Thursday reported third-quarter net profit of 60 million euros ($89.26 million) after a loss in the same period last year, as the value of its oil inventories rose.

Pimco's Bill Gross said on Thursday that utilities stocks provide opportunity for investors in a low growth environment, due to their high dividend yield and steady earnings potential.

U.S. Treasury Secretary Timothy Geithner said on Thursday that no financial firm should be able to escape regulation, and the largest institutions need oversight from a single, strong regulator.

CIT Group Inc on Thursday said it has won overwhelming support from bondholders for its reorganization plan, as the big finance company tries to emerge from bankruptcy by the end of the year.

Sony Corp pushed back an elusive profit margin target to March 2013, after narrowly failing to meet the goal last year, but it aims to make its video game and TV operations profitable next year.

Off-price retailer Ross Stores Inc posted an in-line quarterly profit, helped by better margins, but the company maintained its fourth-quarter earnings forecast which was below market expectations, sending its shares down 4 percent.

Amil Participacoes, Brazil's largest provider of supplemental health services, agreed on Thursday to buy control of rival Medial Saude to expand in the country's wealthiest state and cut operating costs.

A unit of General Electric Co raised $500 million in a 5-year Islamic bond sale, the first by a large U. S. conglomerate, as it looks to diversify its investor base.

Any bid for UK confectioner Cadbury by Italian chocolate maker Ferrero would have to be friendly, an Italian source close to the matter told Reuters on Thursday.

JPMorgan Chase & Co. is beefing up in Europe by buying the half of Cazenove it does not already own in a deal valuing the 190-year old UK stockbroker at 2 billion pounds ($3.4 billion).

U.S. mortgage delinquency rates and the percentage of loans that entered the foreclosure process jumped in the third quarter, with both reaching record highs, the Mortgage Bankers Association said on Thursday.