IBT Staff Reporter

The price of gold could rise as high as $1,600 an ounce as investors opt for assets with lasting value rather than volatile currencies, says one hedge fund manager who has increased his exposure to the precious metal.

Opel workers are preparing mass protests if its parent General Motors fails to pick Canada's Magna as the buyer for the European carmaker, a labor leader said ahead of a news conference scheduled for Thursday.

After driving his BMW 5 series model for just three years, Chinese futures trader Jerry Lin traded in his car for an Audi A6.

President Barack Obama delivered a major speech on health care at 8:00 p.m. Wednesday to the joint session of Congress.

The U.S. employment picture will stay bleak well into next year long after the recession ends, but the worst of the labor market crisis is over, top private economists said on Thursday.

Dutch chip equipment maker ASML increased its sales outlook on Thursday thanks to improving operations in some chip markets.

Home Retail Group, Britain's biggest household goods retailer, on Thursday posted better-than-expected second-quarter sales at both its Argos and Homebase businesses.

Democrats pushing for a drastic overhaul of the $2.5 trillion U.S. healthcare system prepared for fresh battles on Thursday after President Barack Obama set out new details on his top policy priority.

Asian stocks rose on Thursday as hopes for global economic recovery prompted investors to shift into riskier assets, while oil found support above $71 a barrel following OPEC's decision to keep output steady.

A Bolivian-born man clutching a Bible and claiming a divine mission hijacked a plane in Mexico with more than 100 people aboard on Wednesday, but the incident ended quickly and without bloodshed.

Meat-packaging firm Hilton Food Group Plc posted a 7 percent rise in first-half pretax profit, aided by strong volume growth and positive impact from foreign currency translation, and said it expected to meet its forecasts for financial year 2009.

Six companies are scheduled to price and begin trading the week of Sept. 21, which could become the busiest for U.S. initial public offerings since December 2007.

North American companies are flocking to sell shares this week, signaling to some investors the U.S. stock market may be close to sputtering after a long rally.

Polo Ralph Lauren Corp, the fashion company behind the Polo and Club Monaco brands, said on Thursday its smaller Rugby brand is launching an iPhone application that lets users design their own shirts.

Japanese brewer Suntory Holdings is in talks to buy soft drinks maker Orangina from private equity funds Blackstone Group and Lion Capital, as it pushes for growth outside a shrinking beer market at home.

Privately owned Swiss company Evolva is taking over troubled fellow-biotech firm Arpida, the two companies announced on Thursday.

Britain's Wm Morrison Supermarkets met forecasts with a 22 percent rise in first-half profit and boosted its dividend, even as it forecast second-half growth would slow as food price inflation eases.

U.S. private equity firm Blackstone is in talks to buy a 63 percent stake in an Indian agro-chemicals and veterinary drugs maker for about 6.3 billion rupees ($130 million), the Economic Times reported on Thursday, citing an unnamed person with knowledge of the matter.

U.S. oil firm Chevron has agreed to sell nearly 3 million tonnes a year of liquefied natural gas from its Gorgon project in Australia, paving the way for a final investment decision in coming weeks.

Apple's new iPod lineup, unveiled by Chief Executive Officer Steve Jobs on his first public appearance since his liver transplant, disappoins investors as it didn't add as many new features as some analysts predicted, Bloomberg reported on Wednesday.

Oil prices rallied for a fourth day running on Thursday, edging above $71.50 a barrel after bullish inventory data and soothing words from OPEC whetted investor appetite for crude.

Texas Instruments Inc raised its forecast for third-quarter earnings per share on Wednesday, expecting to ride a gradual recovery in the global semiconductor industry.

Victims of Bernard Madoff must surmount laws that shield federal workers and agencies from liability if they want to sue regulators and their staffers for not stopping Madoff years before he confessed to a $65 billion Ponzi scheme.

President Barack Obama told Congress on Wednesday the time for bickering is over and called for quick action on a broad healthcare overhaul that would dramatically transform the U.S. health system and insurance market.

Google Inc is infusing its paid search ads with video, product images and other features as the Internet company strives to refine its money-making capabilities in a tough advertising environment.

President Barack Obama will tell Congress on Wednesday the time for bickering is over and call for quick action on a comprehensive healthcare overhaul that would dramatically transform the U.S. insurance market and health system.

The Aussie dollar faltered at attempts to reach 87 cents in local trade yesterday running into some strong intraday selling around 0.8650 following worse than expected economic data.

General Motors Co shook up its management and dispatched a negotiator on the sale of its Opel unit to Berlin after a watershed two-day board meeting under the direction of Chairman Ed Whitacre, people familiar with the proceedings said.

General Motors Co's board concluded a two-day meeting in Detroit on Wednesday and dispatched the automaker's negotiator on the sale of its Opel unit to Berlin ahead of announcements scheduled for Thursday in Germany, people familiar with the proceedings said.