IBT Staff Reporter

Germany and France enjoyed a shock return to economic growth in the second quarter of the year, data showed on Thursday, ending their recessions earlier than many policymakers and economists had expected.

Shares in UBS on Thursday extended gains as investors expected the settlement of a damaging U.S. tax dispute to allow the bank to focus on becoming profitable again.

Germany and France enjoyed a surprising return to economic growth in the second quarter of the year, data showed on Thursday, ending their recessions earlier than many policymakers and economists had expected.

Germany and France enjoyed a surprising return to economic growth in the second quarter of the year, data showed on Thursday, ending their recessions earlier than many policymakers and economists had expected.

Anheuser-Busch InBev , the world's largest brewer, said cost cutting had helped it beat analyst forecasts for second-quarter profit, although the second half of the year would be significantly weaker.

Oil rose toward $71 a barrel on Thursday as a surprising return to economic growth in France and Germany fed optimism the world was through the worst of the recession, offsetting bearish U.S. inventory data.

U.S. carrier Delta Air Lines Inc and the Atlanta airport are close to a lease agreement that would pave the way for an $800 million bond sale, the biggest such offering in the U.S. this year, Bloomberg reported, citing people familiar with the talks.

Asian stocks and commodities rose on Thursday after the Federal Reserve said it spotted stability in the U.S. economy, spurring investors to buy back shares and other riskier assets and sell U.S. dollars.

Anheuser-Busch InBev on Thursday reported second-quarter profit above analyst forecasts, but said the second half of the year would be significantly weaker.

Asian stocks and commodities rose on Thursday after the Federal Reserve said the ailing U.S. economy was showing signs of leveling out, spurring investors to buy back shares and other riskier assets and sell U.S. dollars.

Anheuser-Busch InBev on Thursday reported second-quarter profit above analyst forecasts, but said the second half of the year would be significantly weaker.

Up to 90 percent of all voice call and Internet services from parts of East Asia that were disrupted after Typhoon Morakot damaged undersea cables will resume by the end of Thursday, a senior Chunghwa Telecom official said.

Citigroup Inc has been forced by U.S. regulators to hire external consultants who will consider whether the New York company's current management is capable of leading it out of financial crisis, the Financial Times reported on its website.

When Wal-Mart Stores Inc reports second-quarter results on Thursday, it will provide a much-awaited glimpse into the state of consumer spending as measured by the billions of dollars that flow through its cash registers every quarter.

Oil rose toward $71 a barrel on Thursday as renewed optimism that the U.S. economy was through the worst of the recession offset bearish inventory data showing continued weak demand in the world's largest oil consumer.

President Barack Obama on Wednesday awarded the nation's highest civilian honor to 16 recipients during a ceremony in the White House.

The newly formed U.S. commission to investigate the causes of last year's financial meltdown will have its first public meeting in Washington on September 17, the chairman, Phil Angelides, said on Wednesday.

Australian Dollar: Local investors were slightly disappointed by yesterdays Westpac Consumer sentiment index release sending the Aussie dollar down from early morning levels around 83 cents.

The U.S. Securities and Exchange Commission is including options exchanges in its review of controversial flash orders, which give traders an advance look at trading orders, the regulator said on Wednesday.

Hedge fund manager John Paulson, who made a fortune betting against financial companies after foreseeing the credit crisis, stocked up on shares of Bank of America Corp during the second quarter.

The Federal Reserve said on Wednesday the U.S. economy was showing signs of levelling out two years after the onset of the deepest financial crisis in decades and it moved to phase out one emergency measure.

Citigroup Inc's contract with an energy trader who may be owed up to $100 million in compensation this year is exempt from rulings by the Obama administration's pay czar, a source close to the bank said on Wednesday.

Australia said on Wednesday that charges against four staff from Anglo-Australian miner Rio Tinto appeared to have been downgraded after China formally arrested the men but left aside accusations they stole state secrets.

Ensuring justice in last November's Mumbai attack is a high priority for President Obama and the United States will keep pressing Pakistan for action against its planners, a top U.S. diplomat said on Wednesday.

Loss-making lender Amcore Financial Inc said its unit will sell two branches to First National Bank and Trust Co of Beloit, Wisconsin to improve liquidity and return to profitability, sending its shares up more than 16 percent.

Cameco Corp reported a higher and forecast-topping quarterly profit on Wednesday as stronger results from its electricity business offset the impact of higher uranium sales costs.

Canadian private-equity firm Onex Corp swung to a quarterly profit on Wednesday and said it is well positioned to move on deals for distressed and restructured assets created by the weak economy.

Belgian-based RHJ International is set to sweeten its offer for General Motors' European business in its race with Canadian rival Magna to buy Opel, sources close to the situation said on Wednesday.

Former U.S. President Bill Clinton launched a free guide on Wednesday to the New York City neighborhood of Harlem where authorities say more than one third of small businesses have closed amid the U.S. recession.