IBT Staff Reporter

Corrects year-ago figuresExxon Mobil Corp on Thursday said its quarterly profit plunged, falling short of Wall Street estimates, as the global recession bit into fuel demand and crude oil prices fell from year-ago levels.

General Motors Co expects China's car market to grow by around 10 percent next year even without government incentives and maintain its position as the world's top car market for a long time, a senior executive said.

Exxon Mobil Corp on Thursday said its quarterly profit fell 68 percent, missing Wall Street estimates, as the global recession bit into fuel demand and crude oil prices fell from year-ago levels.

U.S. mortgage rates held steady just above 5 percent in the latest week after mixed signals on the health of the housing market, Freddie Mac (FRE.N) said on Thursday.

Germany's Lufthansa and the airline industry's representative body provided a gloomy outlook for the sector as carriers around the world struggled to make a profit amid a fierce battle for business.

U.S. stocks jumped on Thursday after data showed the U.S. economy grew faster than expected in the last quarter, soothing recent worries about the strength of the recovery.

The Russian government plans to sell 25 tonnes of gold from the state precious metals and gems repository Gokhran, possibly on the local market, Interfax news agency quoted a Finance Ministry official as saying on Thursday.

The U.S. Federal Reserve must keep its ability to make short-term cash available to maintain financial stability during a crisis, a top Fed official told Congress on Thursday.

The U.S. economy grew in the third quarter for the first time in a year, beating market expectations, as consumer spending and new home-building rebounded, signaling the end of the worst recession in 70 years.

The U.S. economy grew in the third quarter for the first time in a year, beating market expectations, as consumer spending and new home-building rebounded, signaling the end of the worst recession in 70 years.

The National Basketball Association will give its digital offering the full court press, introducing complete live games on mobile phones, including Apple Inc's iPhone, for $40 a year.

AutoNation Inc, the largest U.S. auto retailer, posted a quarterly profit thanks to cost-cutting and the government's Cash for Clunkers incentive program and said it would target dealership acquisitions as the market recovers.

U.S. government debt prices fell on Thursday, as data showed the U.S. economy grew at a faster-than-expected pace in the third quarter, boosting optimism of a rapid emergence from recession.

First came the jibes about the U.S. government rushing out an untested swine flu vaccine. Now, critics say it is not fast enough.

The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1330 GMT on Thursday.

Bank of America-Merrill Lynch raised Genworth Financial Inc (GNW.N) to buy from neutral saying the life and mortgage insurer was an attractive potential rebound story once the financial crisis ends.

Sprint Nextel Corp reported a wider quarterly loss and a 9 percent decline in revenue on Thursday, as more valuable, monthly bill-paying subscribers dropped its wireless service.

The U.S. economy grew in the third quarter for the first time in a year, beating market expectations, as consumer spending and new home-building rebounded, signaling the end of the worst recession in 70 years.

European shares turned positive on Thursday after data showed the U.S. economy grew in the third quarter for the first time in a year as consumer spending and investment in new home-building rebounded.

The United Nations needs to beef up and better coordinate efforts to help fight threats such as climate change, deforestation or over-fishing, two experts said on Thursday.

China's efforts to curtail expansion in its renewable energy sector should brighten prospects for the country's more established wind equipment and solar companies, as curbs on excess capacity squeeze out smaller competitors.

Wall Street was set for a near 1 percent opening gain on Thursday following four days of losses in the S&P 500 after data showed the U.S. economy grew faster than expected in the third-quarter and corporate profits reassured investors.

French prison drama A Prophet won the inaugural best picture award at the London film festival Wednesday, going one better than in Cannes where it was runner-up to Michael Haneke's The White Ribbon.

The U.S. economy grew in the third quarter for the first time in a year, beating market expectations, as consumer spending and new home-building rebounded, signaling the end of the worst recession in 70 years.

Wall Street was set for a near 1 percent opening gain on Thursday following four days of losses in the S&P 500 after data showed the U.S. economy grew faster than expected in the third-quarter and corporate profits reassured investors.

Looks like the world has missed one helluva concert. Whatever cynicism one might harbor about the Hail Mary piece of cinema This Is It -- which can be called the first concert rehearsal movie ever -- what this strange yet strangely beguiling film does is capture one of pop culture's great entertainers in the feverish grips of pure creativity.

The homeless population of Los Angeles fell sharply during the past two years, a study released on Wednesday found, confounding expectations that the recession would drive more people into the city's streets and shelters.

The economy grew in the third quarter for the first time in a year as consumer spending and investment in new home-building rebounded, data showed on Thursday, unofficially ending the worst recession in 70 years.

Weakness in energy stocks, pulled lower by downbeat results from Royal Dutch Shell (RDSa.L), offset gains from banks and miners leaving Britain's FTSE 100 .FTSE off 0.3 percent by midsession on Thursday.