IBT Staff Reporter

Intel Corp raised its outlook for third-quarter revenue on stronger-than-expected demand for its microprocessors and chipsets, offering the latest signal that spending on computers is on the upswing.

Tata Motors Ltd (TAMO.BO), India's largest vehicle maker, needs to raise an estimated $1 billion in fresh equity and asset sales to deleverage its balance sheet and cut its debt-to-equity ratio to reasonable levels, according to analysts.

Chrysler Group LLC said on Thursday it is now confident enough about its business to accept product defect claims that arise on vehicles built before its sale process was completed in June.

China's Tengzhong may finalize a deal with General Motors Co GM.UL as early as next week to acquire the U.S. automaker's Hummer brand, a source familiar with the deal said on Friday.

Toyota Kirloskar Motor (7203.T) is planning to make India an export hub for small cars by 2012, including of a compact car that is being designed in Japan for Indian conditions.

Toyota Motor Corp will end production at a California plant it has shared with General Motors for 25 years, prompting regret and criticism from labor and politicians facing more job losses in an industry and a state pummeled by recession.

Stocks gave up most of their gains on Friday after initially spiking to 10-month highs as weak consumer sentiment data offset an upbeat forecast from chipmaker Intel and better-than-expected profit from computer maker Dell.

The German government said on Friday its talks with General Motors on the sale of carmaker Opel would take some time yet and made clear it still favored a bid from Canadian supplier Magna.

The New York Federal Reserve said on Friday it bought $1.945 billion of U.S. agency debt with maturities ranging from March 2016 to July 2032.

U.S. copper futures advanced to levels not seen in 11-months on Friday as a robust U.S. consumer spending report suggesting demand for the metal might increase going forward, but later pulled off that peak when consumer sentiment eased slightly in August, traders said.

The bankruptcy trustee overseeing the liquidation of Bernard Madoff's investment advisory firm will ask a court to decide how much the imprisoned swindler's victims should recover, including those seeking profits reflected on their faked account statements.

A Thai court on Friday sentenced a political campaigner to 18 years in prison for insulting the monarchy, the latest in a slew of lese-majeste cases critics say are stifling dissent and freedom of speech.

Italian Prime Minister Silvio Berlusconi is launching legal actions against media in Italy and abroad, including Britain, France and Spain, for libel in their coverage of his private life, his lawyer said on Friday.

U.S. consumer spending rose as expected in July, data showed on Friday, lifted by the government's cash-for-clunkers program that fueled demand for autos.

Afghanistan's Electoral Complaints Commission has received more than 2,000 complaints of fraud or abuse in last week's disputed presidential election, with 270 now listed as serious enough to affect the result, it said on Friday.

Britain will commit 665 million pounds ($1.08 billion) in aid to help Pakistan stabilize its violent border areas and tackle the underlying causes of extremism, Prime Minister Gordon Brown said Friday.

A Chinese kung fu artist who tows cars and cuts paper with her braided hair has given up her crowning glory to officially become a Buddhist nun.

Men with prostate cancer are being diagnosed at a younger age and earlier stage today than in years past, and the racial disparity in stage at diagnosis has decreased significantly, researchers report today in the Journal of the National Cancer Institute.

Italian Prime Minister Silvio Berlusconi is launching legal actions against media in Italy and abroad, including Britain, France and Spain, for libel in their coverage of his private life, his lawyer said on Friday.

Canadian drugmaker Patheon Inc, which has been witnessing a takeover tussle between U.S. private equity firm JLL Partners and Switzerland's Lonza , said it is exploring the Swiss company's proposal a day after JLL's offer expired.

Indian utility vehicle maker Mahindra & Mahindra is looking at options to buy a U.S. facility for assembling its pickup trucks that would save it an import penalty, a senior official said on Friday.

Even though testing has so far raised no

Iran's hardline President Mahmoud Ahmadinejad on Friday called for the prosecution and punishment of the leaders of unrest that erupted after his disputed June re-election.

A free birthday bash for the public celebration of Michael Jackson's birthday will be held on Saturday and is expected to draw a crowd of more than 10,000, the New York Times reported.

Frustrated Japanese voters look set to sweep the opposition to victory in Sunday's election, but the novice Democratic Party will quickly face the challenge of an economy suffering from record jobless rates and deflation.

Swine flu infected 14 times as many children as adults over 60 in Chicago, city health department officials reported on Thursday in one of the first detailed looks at the new pandemic virus.

Japan's NEC Corp, Hitachi Ltd and Casio Computer Co are in talks to merge their struggling cellphone operations to cut development costs in a saturated market, four sources said on Friday.

The rival Koreas were expected to finish talks on Friday about resuming reunions of families torn apart by the 1950-53 Korean War, in a rare meeting as the isolated North reaches out to its foes.

Researchers searching for a cure for obesity said on Thursday they have developed a drug that not only makes mice lose weight, but reverses diabetes and lowers their cholesterol, too.