IBT Staff Reporter

Amazon.com Inc reported on Thursday that net profit fell 10 percent to $142 million in the second quarter, or 32 cents per diluted share, compared with a net income of $158 million, or 37 cents per share in the second quarter of 2008.

Shares of American Express fell nearly 5 percent in after hours trading after reporting second quarter results on Thursday.

Sony Corp will likely invest more than 100 billion yen ($1.1 billion) in a planned liquid crystal display TV panel venture with Sharp Corp, the Nikkei business daily reported on Friday.

Network equipment maker Juniper Networks Inc's reported a double-digit fall in revenue and a decline in gross margin as it struggled with weak technology spending, and gave an outlook that disappointed investors looking for stronger signs of a recovery,

Chipmaker Broadcom Corp reported better-than-expected revenue quarterly revenue, but concerns about gross margins and expenses coupled with a sell-off in technology stocks helped push its shares lower on Thursday.

Emerging nations deserve more weight in global financial institutions for the world to climb out of its current crisis, Chinese Foreign Minister Yang Jiechi said during the annual ASEAN summit in Thailand, with the presence of United States and Japan.

Sony Corp will likely invest more than 100 billion yen ($1.05 billion) in a liquid crystal display TV panel joint venture to be formed with Sharp Corp, the Nikkei business daily reported on Friday.

Securities regulators on Thursday sued a well-connected Kuwaiti financier whose investment firm is partly owned by Citigroup Inc , saying he reaped millions in suspicious profits after fraudulent takeover reports sent shares of two U.S. companies soaring.

News Corp hopes to transform MySpace, which has been losing users to Facebook, into a stronger online videogaming platform as it works to reposition the six-year-old site as an entertainment destination.

Saad bin Laden，one of Osama bin Laden's sons was probably killed in a U.S. air strike in Pakistan earlier this year, U.S. National Public Radio reported, citing U.S. intelligence sources.

U.S. solar companies SunPower Corp and MEMC Electronic Materials Inc on Thursday offered hope that the beleaguered solar industry is on the mend, each posting quarterly earnings and giving revenue outlooks that topped Wall Street estimates.

American Express Co and Capital One Financial Corp said rising customer delinquencies reduced second-quarter earnings, and shares of the large U.S. credit card issuers fell after hours.

Michael Jackson's secret son reportedly is planning to have a DNA test to verify whether he is Jackson's biological son, according to the Sun.

The Internet in China needs to be administered by additional laws because what was once a virtual world is now a substantial part of the real one, ChinaDaily reported on Thursday citing a senior government official.

The Australian Dollar opens in familiar territory on Friday at 0.8120 against its US counterpart.

American Express Co , the largest credit card company by sales, reported quarterly earnings that fell in line with expectations on Thursday, hurt by weakness in cardmember spending, record credit losses, restructuring charges and the repayment of government funds.

Amazon.com Inc posted a 10 percent decline in second-quarter earnings and gave a modest third-quarter outlook on Thursday, taking the shine off the world's largest online retailer and sending its shares down nearly 7 percent.

Chicago White Sox pitcher Mark Buehrle threw a perfect game on Thursday by retiring all 27 batters he faced in a 5-0 victory over the Tampa Bay Rays.

Official data shows Chinese telecom operators have burnt 80 billion yuan ($11.71 billion) in the first half of this year to build a third-generation (3G) services network, which, according to expert, is a premature move in China.

Microsoft Corp's quarterly revenue fell a steeper-than-expected 17 percent and annual sales of Windows fell for the first time ever, as its business continued to be hurt by the weak global PC and server markets.

U.S. stocks surged on Thursday, driving the Dow industrials above the key 9,000 mark for the first time since January, as strong corporate profits and rebounding home sales spurred optimism about the economy.

Scores of people were arrested on Thursday in a sweeping federal investigation of public corruption and money laundering in New Jersey.

The New York Times reported higher quarterly profit on cost cuts on Thursday, beating forecasts, but advertising revenue fell 30 percent and a recovery for U.S. newspaper publishers still looks a long way off.

Aluminum Corp. of China (Chinalco) is still searching for opportunities to invest in nonferrous metal mining resources in Western Australia, Caijing reported on Thursday, citing Chinalco's CEO Xiong Weiping who also raised the possibility of cooperation with Rio Tinto.

Home sales jump, Dow Breaks 9,000, Ford Turns Profit

Amazon.com's purchase of shoe seller Zappos.com, known for attentive customer service, will likely race through an antitrust review unscuffed, antitrust experts said on Thursday.

Securities regulators on Thursday sued a well-connected Kuwaiti financier whose investment firm is partly owned by Citigroup Inc , saying he reaped millions in suspicious profits after false takeover reports sent shares of two U.S. companies soaring.

U.S. solar company SunPower Corp on Thursday reported a 22 percent drop in quarterly net income, but results blew past estimates as the company maintained market share and the price premium on its solar panels, sending shares up 15 percent after hours.

Solar maker First Solar Inc. and EDF Energies Nouvelles announced they will build the largest solar panel manufacturing plant in France.U.S. stockpiles of natural gas rose 66 billion cubic feet to 2.952 trillion cubic feet on the week ended July 17.