IBT Staff Reporter

Ford Motor Co posted a $2.3 billion quarterly net profit, mainly due to gains from a $10 billion debt reduction plan, and said it was on track to at least break even in 2011, sending its shares up as much as 9.7 percent.

An Asian country with large, government-backed energy companies seeks growth through cross-border acquisitions. It's inexperienced in such deals however, and gets off to a shaky start.

The worldwide nanophotonic market is projected to reach $37.6 billion, to a CAGR record of 100.7 percent by 2014, according to a new research of Advance and Technology market on Thursday.

BBMG Corp, a leading building materials maker in China, on Thursday raised $768 million in a Hong Kong IPO at the top end of an indicated range, sources said, becoming one of the largest such deals this year and setting a positive tone for other big listings to follow.

Diversified U.S. manufacturer 3M Co handily beat Wall Street expectations, helped by strong demand for its respiratory masks that are being snapped up by people afraid of the swine flu.

EBay Inc's shares soared as much as 11 percent on Thursday, a day after the online auctioneer posted quarterly results that topped market expectations, leading at least nine analysts to raise their price targets.

A prominent black Harvard scholar arrested last week has triggered escalating national debates over racism.

Prime Minister Benjamin Netanyahu said on Thursday Israel hoped to forge peace with the Palestinians, but sidestepped a controversy over Jewish settlement that has stalled a resumption of negotiations.

President Barack Obama said on Wednesday police had acted stupidly in arresting a prominent black Harvard University scholar at his own home, weighing in on escalating debate over the treatment of minorities by U.S. law enforcement officers.

U.S. stocks rallied on Thursday, sending the Dow industrials above the key 9,000 mark for the first time since January, as strong second-quarter earnings and improving home sales data fueled economic recovery hopes.

Katie Holmes will perform a song-and-dance tribute to Judy Garland Get Happy from the musical Summer Stock tonight the Fox TV network show So You Think You Can Dance at 10:00 p.m. EDT.

Porsche conceded defeat in a months-long power struggle with Volkswagen Thursday by axing its embattled CEO, paving the way for VW to merge with the maker of the 911 sportscar.

Iron Man is in the spotlight at this year's comic book convention Comic-Con, getting a grip on fans not just of comics and movies but also video games.

Advanced Micro Devices (NYSE: AMD), producer of computing and graphics solutions, readied its graphics drivers for the new operating system from Microsoft Corporation.

U.S. existing home sales notched their third monthly rise in June in a sign the housing industry was slowly healing, but new jobless claims rose last week in a move distorted by unusual seasonal layoffs.

U.S. existing home sales notched their third monthly rise in June and prices hit their highest level since October, fueling hopes that the housing sector is finally on the mend and will help propel a broader economic recovery.

Home sales heat up, Dow breaks 9,000, Ford reports profit

The chances that Canada's Research in Motion will enter a formal bid for the wireless assets of bankrupt Nortel Networks are slim as a bidding war develops for technology coveted by the world's leading telecom-equipment makers.

Stocks rallied on Thursday, with the Dow industrials piercing the key 9,000 mark, as investors viewed strong quarterly results from 3M & Co and other companies, plus improving home sales data as signs the economy is stabilizing.

McDonald's Corp reported light June same-store sales on Thursday and shares fell 3.8 percent after the top-performing restaurant chain only matched Wall Street's profit view.

Solar maker First Solar Inc. and EDF Energies Nouvelles - half owned by France's state owned utility - will venture to build what the companies call the largest solar panel manufacturing plant in France, representing an expected investment of 90 million euros ($128 million), they said in a statement Thursday

On Wednesday, Qualcomm Incorporated (Nasdaq: QCOM) -- developer and innovator of advanced wireless technologies, products and services -- reported its third Quarter Fiscal 2009 Results.

AT&T Inc posted a smaller-than-expected drop in quarterly profit as strong sales of Apple Inc's iPhone helped boost wireless subscriber growth. Some analysts are concerned that the company's dependence on the iPhone for much of its growth raised concerns about what would happen if it lost its exclusive rights to sell the phone in the U.S.

Spot iron ore vessel bookings from Brazil to China jumped to a record in July as Australia suspended spot sales following detentions of Rio Tinto's top sales officials in China and as falling freight costs made longer haul trade attractive.

US Airways Group on Thursday reported a second-quarter net profit, reversing a year-ago loss and beating expectations on lower fuel costs, but said it is not counting on a quick rebound in travel demand.

The National Association of Realtors (NAR) on Thursday announced that sales of existing homes in the U.S. rose for the third consecutive month in June, suggesting that the troubled housing market may be hitting bottom, private data showed Thursday. According to the NAR, existing home sales rose to an annualized rate of 4.89 million units which is above the 4.84 million units analysts were expecting. This is fueling hopes that housing and the overall economy is showing signs of recovery.

With previously owned home sales rising for the third straight month, the chief economist at a major realty group says the trend will continue due to tax breaks and the high affordability.

After comfy-shoe hunters were bowled over by the Crocs, a new shoe called Vibram FiveFinger shoes, is already starting to lure consumers interest.

US Airways Group on Thursday reported a second-quarter net profit, reversing a year-ago loss on lower fuel costs, but said it is not counting on a quick rebound in travel demand.