IBT Staff Reporter

The Australian Dollar opens lower on Friday at US87 cents despite posting another 13-month high during yesterday's local trading session.

CIT Group Inc is eyeing a loan of up to $7 billion if a planned debt exchange offer fails and the commercial lender has to file for pre-packaged bankruptcy, two sources familiar with the matter said on Thursday.

A deal between Comcast Corp and General Electric Co for NBC Universal would seem a storybook match -- one wants in to the media business and the other may be well-served to get out.

A deal between Comcast Corp and General Electric Co for NBC Universal would seem a storybook match -- one wants in to the media business and the other may be well-served to get out.

U.S. Treasury Secretary Timothy Geithner said on Thursday that a strong dollar was very important to the United States and the rest of the world needs to be convinced Americans will be more thrifty in future.

The 2009 Free Night of Theater begins in October. It is the fifth anniversary for the annual Free Night of Theater.

Australian pop star Kylie Minogue kicked off her first-ever American tour with a driving disco beat, a bevy of well-muscled dancers, and a lot of leg, hoping to finally crack the lucrative U.S. market.

California utility Pacific Gas and Electric said on Thursday that it has signed power agreements for more than 2,000 megawatts, boosting its use of energy from solar resources and natural gas.

She grew up a child star in a famous Hollywood family, and Drew Barrymore has gone from acclaimed actress to movie producer and now director of her first feature film, Whip It.

Michael Jackson was in reasonably good health at the time of his death opposing numerous media reports that portrayed him as terribly skinny and sick, the Associated Press reported Thursday.

Network equipment maker Cisco Systems Inc struck a deal to buy Norwegian videoconferencing company Tandberg for $3 billion in a bid to dominate the high-growing market of corporate video communications.

Bank of America Corp's board of directors is looking at hiring a short-term chief executive from outside the bank to give internal candidates more time to develop, a company spokesman said Thursday.

The global auto industry would have collapsed if the U.S. government had not provided taxpayer-backed financing for automakers General Motors and Chrysler, according to the chief executive officer of Motors Liquidation Co (MTLQQ.PK).

North America's professional sports leagues are all a twitter over tweeting and have pushed through guidelines to ban player access to social networking sites during games.

Daimler AG (DAIGn.DE) moved on Thursday to boost its presence in the Russian market by signing a letter of intent to create a truck and bus joint venture with local partner Kamaz (KMAZ.MM).

Network equipment maker Cisco Systems struck a deal to buy Norwegian videoconferencing company Tandberg for $3 billion in a bid to dominate the high-growing market of corporate video communications.

President Barack Obama announced a plan on Wednesday to spend $5 billion on medical and scientific research, medical supplies and upgrading laboratory capacity, which he said would create tens of thousands of new jobs.

Chrysler Group LLC still plans to shutter eight North American plants according to its initial schedule, Chief Executive Sergio Marchionne said on Thursday, as he dismissed recent reports that a Detroit-area plant would get a reprieve.

Children of women infected with influenza during pregnancy have a substantially higher risk of heart disease late in life, according to a study published on Wednesday.

The Dow and S&P 500 suffered their worst one-day fall in three months on Thursday after economic reports fueled fears about the recovery's strength.

France will invest 2.5 billion euros ($3.6 billion) over 10 years in research, subsidies and infrastructure development for electric cars as automakers race to get the vehicles on the road, its energy minister said.

Anita Tedald adopted a child and then gave him up 18 months later because she realized the baby was not bonding with her and her family.

Sales in Japan of new cars, trucks and buses fell about 3 percent in September from the year before, a source said on Wednesday, underscoring the fragile state of the stimulus-driven recovery in Japanese vehicle demand.

Ford Motor Co said on Thursday its U.S. auto sales fell 5 percent in September from a year earlier as demand slumped off in part due to the end of the U.S. government's cash for clunkers incentive program.

The United States said on Thursday six-power talks with Iran had opened the door to better relations with the West but cautioned Tehran it must take concrete steps to prove it was not seeking nuclear arms.

New accounting rules show that Apple's profitability of the iPhone could be much higher than previously expected, according to a new report.

Female Health Co's new version of its female condom is now available to state health agencies and nonprofit organizations, but the company is still trying to make it more widely available in stores.

U.S. consumer spending rose at its fastest in nearly 8 years in August, but a persistently weak labor market and below-forecast expansion in manufacturing in September could hamper a nascent economic recovery.

The Dow and S&P 500 suffered their worst one-day fall in three months on Thursday after economic reports fueled fears about the recovery's strength.