IBT Staff Reporter

Skype founders Janus Friis and Niklas Zenstrom filed a copyright infringement suit against current owner eBay and the members of an investment group who recently agreed to acquire a majority stake in Skype.

Standard & Poor's may downgrade around $578 billion of collateralized debt obligations backed by corporate debt as a result of changes the rating agency is making to the way it rates the deals, S&P said on Thursday.

New York's troubled public transit system has a $9.9 billion funding gap in its 2010-2014 capital program which it may have to close with debt absent any other source of funds, the state comptroller said on Thursday.

The Federal Reserve bought $25.45 billion net of agency mortgage-backed securities in the latest week, the New York Fed said on its website on Thursday.

Palm Inc reported a smaller-than-expected loss on strong smartphone sales, sending its shares 6 percent higher on Thursday

Telecom equipment maker Nokia Siemens Networks said on Thursday it has made the world's first call using next generation LTE mobile technology.

A man with a rare case of amnesia has been identified by people who know him but he still can't remember who he is.

U.S. stocks slipped on Thursday after a three-day runup on concern recent gains were overextended despite the latest round of solid economic data.

Palm Inc reported a smaller-than-expected loss on strong smartphone sales, sending its shares 6 percent higher on Thursday.

When the Emmy-nominated television stars begin their stroll up the red carpet Sunday at U.S. TV's top honors, one nominee will be on the wrong side of the line between celebrities and onlookers, Carrie Ann Inaba.

Home sales in the San Francisco Bay area fell 14.3 percent in August from July as buyers found fewer bargains due to a slimmer inventory of foreclosed properties, MDA DataQuick said on Thursday.

New construction of U.S. homes and permits for future building scaled a nine-month high in August, and the number of people filing new claims for jobless benefits fell last week, suggesting a recovery was underway.

U.S. tax authorities on Thursday said that 1.4 million taxpayers have used an $8,000 homebuyer tax credit so far and reminded homebuyers they need to close on a purchase before the December 1 deadline to qualify.

The federal government and states are girding themselves for the next foreclosure crisis in the country's housing downturn: payment option adjustable rate mortgages that are beginning to reset.

Publishers of general news would find it hard to charge for their content online because too much free content is available, the chief executive of Google Inc said on Thursday.

Bernard Madoff once slept there. Soon, someone else will. The imprisoned swindler's Montauk, New York, home, located on a beach with sweeping views of the Atlantic Ocean, has been sold for more than the $8.75 million asking price, a spokeswoman for broker Corcoran Group said on Thursday.

U.S. households' net worth rose by $2 trillion to $53.1 trillion in the second quarter, the first increase since before the recession began in 2007, Federal Reserve data showed on Thursday.

Shares of American Airlines parent AMR Corp soared as much as 25 percent on Thursday after the company said it had raised $2.9 billion in troubled credit markets and would shift flying to more profitable routes.

Discover Financial Services posted stronger-than-expected quarterly earnings on Thursday as bad loans grew less than feared and the sixth-largest U.S. credit card issuer trimmed costs.

The exit of a popular CEO at World Wrestling Entertainment Inc (WWE.N) comes at a time when the sports entertainer has seen shares rise more than 60 percent since last November, helped by a loyal fan base and aggressive cost cutting.

Top U.S. telecom executives gave a mixed outlook for the U.S. economy on Thursday, citing a lack of job creation, even as AT&T Inc CEO said the company will add more mobile customers this quarter than last.

Electric Co's deal to provide the parent of No. 2 U.S. carrier American Airlines with $1.88 billion of financing and also to sell engines for up to 100 new jets is its largest aviation finance deal in about a decade, a GE executive said on Thursday.

European plane-maker Airbus has increased its forecasts for long-term new plane demand but said the current industry crisis is likely to spark a spate of new order cancellations this winter.

Chemical shipments on U.S. railroads fell 9.1 percent last week, the Association of American Railroads said on Thursday.

U.S. stocks were little changed in choppy trading on Thursday as investors paused after an extended period of gains, expressing worries about a pullback.

President Barack Obama on Thursday dumped a Bush-era missile defense plan for Europe that Russia had bitterly opposed and offered what he said would be faster, more flexible defense systems to protect against Iran.

World leaders are likely to agree to curb bank bonuses at next week's G20 summit and want evidence recession is over before they stop spending to prop up their economies, European heads of government said on Thursday.

Exclusive deals between mobile phone makers and carriers got support on Thursday from two Republican members of the U.S. Federal Communications Commission, which is probing if the arrangements harm consumers in rural markets.

Popular reality TV show So You Think You Can Dance has made peace with America's gay community by putting a same-sex Latin ballroom couple into a new round of competition and appointing an openly gay judge.