IBT Staff Reporter

The U.S. economy is recovering more strongly than expected from its worst recession in decades, but next year will be lackluster and risks of a double-dip downturn remain, economists said in a Reuters poll.

If earnings reports released on Thursday are a sign of business to come, U.S. apparel retailers will have to continue cutting costs and discounting as slumping sales persist.

President Barack Obama said Thursday it was a mistake to release the Lockerbie bomber by Scottish authorities on grounds of compassion.

The Australian Dollar opens higher on Friday (0.8310) and is showing signs of consolidation above the 0.8250 mark.

Upbeat manufacturing data and weak labor market numbers painted a mixed picture of the U.S. economy on Thursday, while economists forecast it is recovering more robustly than expected from its worst recession in 70 years despite worries about a double-dip recession.

Discount retailer Dollar General Corp, backed by powerful private equity firm Kohlberg Kravis Roberts & Co , filed for an initial public offering of up to $750 million on Thursday, according to a regulatory filing.

The U.S. government said it will suspend its popular Cash for Clunkers auto rebates on Monday as the program's $3 billion budget runs dry, a month after it was launched.

Discount retailer Dollar General Corp, backed by powerful private equity firm Kohlberg Kravis Roberts & Co , filed for an initial public offering of up to $750 million on Thursday, according to a regulatory filing.

The U.S. government said it will suspend its popular

The Black Eyed Peas and Jason Mraz have made history on the Billboard Hot 100 singles chart, while Miley Cyrus and Jay-Z entered the list's top 10.

U.S. President Barack Obama stood by proposals to create a government-run health insurance program on Thursday while insisting the move was merely one element of a wider plan to reform the industry.

The U.S. government said it will suspend its popular Cash for Clunkers auto rebates on Monday as the program's $3 billion budget runs dry, a month after it was launched.

Ahead of the new Playstation 3 release , Amazon has warned of shortages of the new slim PlayStation 3 when the system launches next month.

The Libyan man convicted of blowing up a US airliner over Lockerbie in 1988, killing 270 people including 189 Americans, has arrived at home Thursday and he was greeted as a hero after being set free.

A tablet version of the Mac will be on the market by early 2010, if not sooner, which, according to industry analysts who follow Apple would bring Apple billions of dollars of new sales.

Indignant letters, e-mails and phone calls can still get results for unhappy airline travelers, but more are finding that if you really want to vent your frustrations, you can now be loud and fast and public.

Morgan Stanley is planning to hire as many as 400 traders and salespeople, a hiring spree that comes as the firm tries to dig its way out of three straight quarters of losses.

Lower costs and better inventory management helped several apparel and accessory retailers posted better-than-expected results on Thursday, while some companies forecast a stronger finish to the year.

The U.S. Equal Employment Opportunity Commission sued AT&T Inc on Thursday, accusing the nation's largest phone company of discriminating against workers over 40.

Apple is speculated to roll out a new Apple TV within the next several months, according to Piper Jaffray analyst Gene Munster. Apple has strong incentive to build a new set-top if it decides to offer a subscription service for iTunes video.

Apple is speculated to roll out a new Apple TV within the next several months, according to Piper Jaffray analyst Gene Munster.

The popular U.S. government cash-for-clunkers program, offering rebates of up to $4,500 to car buyers trading in older, fuel-thirsty vehicles, will end on Monday, the Transportation Department said on Thursday.

Ryan Alexander Jenkins, contestant of Megan Wants a Millionaire and I love Money 3, is believed to hiding in Canada after police want to question him in connection to the death of his ex wife.

Citigroup Inc shares rose as much as 6 percent to their highest in more than three months on growing confidence that the embattled bank would become more profitable as it unloaded troubled assets.

Stocks rose for a third straight session on Thursday with financial stocks leading gains after U.S. manufacturing data and a rebound in Chinese stocks reassured investors.

China's top online auction firm, Taobao, recorded transaction volume of 80.9 billion yuan ($11.8 billion) in the first half of 2009, up 97% year-on-year, according to mid-year metrics released on Thursday, despite the slight drop in spending per order due to the economic slow-down.

The U.S. National Hurricane Center (NHC) said Thursday the eye of Hurricane Bill was about 695 miles southeast of Bermuda and expected to reach Canada's Atlantic Maritime Provinces by Sunday.

Manufacturing in the U.S. Mid-Atlantic region expanded in August for the first time in 10 months but new filings for unemployment benefits rose last week, an indication weak spending would constrain recovery.

U.S. researchers said on Thursday they have found a way to make large-scale flexible display screens that can be stretched to fit the contours of a bus yet are transparent enough so riders can see out windows.