IBT Staff Reporter

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Chinese growth quickens in Q3, as expected

China's economic growth picked up as expected last quarter as a potent cocktail of breakneck investment and buoyant bank lending more than made up for a slump in exports, the government said on Thursday.

Daily Forecast 22/10/2009

The Aussie dollar held on to 0.9190 during European exchange with this level becoming somewhat of a key short term technical support as it was the third time in 24 hours the AUD bounced from there.

Microsoft, Google seal Twitter search deals

Microsoft Corp and Google Inc secured separate agreements to access real-time content from Web phenomenon Twitter, intensifying their battle for a search market that Google dominates.

Key U.S. lawmaker backs FCC on eve of Web rule

A key U.S. lawmaker threw his support behind the Federal Communications Commission's open Internet proposal, despite renewed protests from telecom companies including Verizon on Wednesday.

EBay holiday outlook disappoints, shares down

EBay Inc forecast results for the fourth quarter at the low end of Wall Street estimates, disappointing investors who were hoping for a substantial turnaround for the holidays, and its shares down 5 percent.

JAL's net loss may balloon to $5.5 bln - media

Japan Airlines' (JAL) net loss may balloon to about 500 billion yen ($5.5 billion) for the year to next March as the struggling carrier, Asia's largest by revenue, plans to book hefty restructuring charges, the Yomiuri newspaper reported on Thursday.

GM culture needs shake-up- ex-US task force chief

Overcoming an entrenched corporate culture is the biggest question mark for General Motors Co management as it tries to maintain viability following its near failure this year, the former chief of the Obama administration's autos task force said on Wednesday.

Noble Corp profit rises 11 pct, beats estimates

Noble Corp reported 11 percent quarterly profit growth as its deepwater rig fleet remained in demand despite a broader slowdown in drilling, which the company expected to turn around next year.

TriQuint Q3 profit meets market, sees Q4 below est

Wireless communications products supplier TriQuint Semiconductor Inc's third-quarter profit met market expectations, helped partly by a growth in its networks market, but weak revenue and a fourth-quarter forecast below expectations sent shares down 21 percent.

VMware results top estimates, shares rise

U.S. business software maker VMware Inc posted higher-than-expected quarterly results on Wednesday due to strong sales to the federal government and gave a revenue forecast that beat Wall Street estimates.

Mexico's Telmex slips in quarter on competition

Telmex, Mexico's leading fixed-line phone operator, posted an 11.9 percent drop in third-quarter net profit on Wednesday as growing competition and an economic slump led to canceled phone lines.

Honda to post $660 million H1 op profit-Nikkei

Honda Motor Co will likely post an operating profit of 60 billion yen ($660 million) for the April-September first half, beating its forecast for a loss on cost-cutting and sales of fuel-efficient cars, the Nikkei business daily reported on Thursday.

Microsoft, Google snag Twitter search deal

Microsoft Corp and Google Inc have sealed separate agreements to access real-time content from Web phenomenon Twitter, intensifying their battle for a search market that Google now dominates.

Czar poised to slash cash pay at seven firms

The Obama administration plans to order that top earners at firms that received billions of dollars in government bailouts will see cash payouts cut by an average of about 90 percent from last year, a source familiar with the matter said on Wednesday.

PC makers get ready for Windows 7 Oct. 22 debut

Microsoft's long-awaited Windows 7 arrives tomorrow, Thursday October 22, and makers of personal computers are gearing for the new operating system launch by announcing their own new products and services.

Obama wades into Democrats' tough governor races

U.S. President Barack Obama threw himself into the role of campaigner in chief on Wednesday, making appeals for Democratic candidates in two state governor races that some see as a referendum on his performance in the White House.

Pay czar expected to cut payouts by 90 percent: source

The Obama administration plans to order that the top earners at firms which received billions of dollars in government bailouts will see their cash payouts cut by an average of about 90 percent from last year, a source familiar with the matter said on Wednesday.

Smart Off-Season Tips for Buyers

Everyone's been saying Now's the time to buy, for quite a while, but for many who've been waiting on the sidelines, the autumn off-season of real estate may indeed be the right time to act.

Financials slam Wall Street; eBay drops late

U.S. stocks fell on Wednesday, hurt by a late sell-off in financial shares after an influential bank analyst recommended selling Wells Fargo shares and a wider-than-expected loss from Boeing disappointed investors.

Fidelity National Q3 adj profit misses view by a cent

Electronic payment processor Fidelity National Information Services Inc's (FIS.N) third-quarter adjusted profit narrowly missed market estimates, hurt mainly by a decline in revenue from its financial solutions and payment solutions segments. Net profit from continuing operations for the quarter was $67.6 million, or 35 cents a share, compared with $43.6 million, or 23 cents a share, last year. Excluding items, it earned 46 cents a share.

Key lawmaker backs FCC on eve of Web rule

A key U.S. lawmaker said on Wednesday that he backs a Federal Communications Commission proposal to establish an open Internet rule and would consider legislative action if the industry challenged it in court.

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