IBT Staff Reporter

Google Inc's quarterly profit and revenue rose in the second quarter despite the tough advertising market, beating Wall Street expectations.

The detention of Rio Tinto executives on spying accusations has allegedly wreaked havoc on the world's second-largest iron ore miner's sales in China, as the nation's steel mills took a wait-and-see approach on ore imports from the Anglo- Australian conglomerate, Chinese State media reported on Wednesday.

U.S. Senate Committee on Environment and Public Works held a hearing Thursday about the impact on American jobs of the climate bill. U.S. stockpiles of natural gas rose 90 billion cubic feet on the week ended July 10.

A major new energy bill won't spur economic development and create new jobs, Republican Senators said Thursday during a public hearing.

Google Inc.'s second-quarter earnings were up 19 percent, but revenue slowed as advertising sales were down from the previous quarter. The search engine giant posted a profit of $1.48 billion, or $4.66 a share, compared with $1.25 billion, or $3.92 a share, in the same quarter last year.

President Barack Obama's Supreme Court pick Sonia Sotomayor looked headed for confirmation as Senate hearings wound up on Thursday with some Republicans open to her bid to become the court's first Hispanic justice.

Wind power capacity in the United States increased by 8,558 megawatts in 2008 and $16 billion were invested in wind projects during that year making it the fastest-growing wind power market in the world for the fourth consecutive year, according to the 2008 Wind technologies market report from the Department of Energy released Thursday.

Google Inc.'s second-quarter earnings were up 19 percent, but revenue slowed as advertising sales were down from the previous quarter.

Politics of Opel, Airlines' 'Renewed Pessimism,' Baxter beats estimates

Former U.S. Treasury Secretary Henry Paulson admitted on Thursday before lawmakers that he had initially underestimated the extent of the financial crisis and described the financial markets at the time as being driven by fear and uncertainty. Paulson said it was appropriate for the government to ensure that Bank of America did go through with the deal.

Escalating fears about a potential bankruptcy of embattled U.S. lender CIT Group caused its debt to sell off steeply on Thursday and its shares to plummet after it said government bailout talks had ended.

The 61st Primetime Emmy nominations were announced on Thursday, July 16, 2009.

U.S. lawmakers on Thursday ripped into former Treasury Secretary Henry Paulson over the government's role in Bank of America's merger with Merrill Lynch and other actions to cope with the deep financial crisis that gripped the country last year.

The number of Americans filing for jobless benefits fell to the lowest level since January last week, a decline linked to upheaval in the auto industry, while a key regional manufacturing index slipped more than expected in July, reports showed on Thursday.

U.S. stocks rallied for a fourth day on Thursday after JPMorgan's strong results fed growing optimism about the quarterly earnings season and technology shares rose in anticipation of more good news.

IBM reported a 13 percent slide in revenue as corporate spending fell, but cost cuts and a shift to more profitable businesses helped it trump earnings expectations, and the company raised its profit outlook for the full year.

Palm has finally released the long-awaited Mojo Software Development Kit to the crowd.

Microsoft founder Bill Gates has a new brilliant plan together with other co-inventors to control weather that can stop hurricanes.

U.S. energy-intensive industries -- like aluminum, chemicals, paper and steel -- want the U.S. Senate to give them a bigger share of the free pollution permits that would be needed to emit greenhouse gases under climate change legislation.

JPMorgan Chase & Co said record investment banking and trading results drove quarterly profit 36 percent higher, topping Wall Street forecasts, but reported a surge in consumer credit losses that foreshadows deeper problems on Main Street.

It's not just family and friends that Americans are turning to for advice and support to cope with the prolonged recession; many have found a counselor in the Internet.

U.S. stocks rallied for a fourth day on Thursday after JPMorgan's robust results added to growing optimism about the quarterly earnings season and technology shares rose in anticipation of more good news.

Satire-heavy 30 Rock and 1960s drama Mad Men will defend their 2007 Emmy awards against a broad field of contenders for television's highest honors -- including irreverent cartoon series Family Guy.

Following is a list of nominees in key categories for the 61st Annual Primetime Emmy Awards. The winners for U.S. television's highest honors will be announced at a ceremony broadcast live from Los Angeles on September 20.

Escalating fears about a potential bankruptcy of embattled U.S. lender CIT Group caused its debt to sell off steeply and its shares to plummet on Thursday after it said government bailout talks had ended.

The US Magazine released the video Wednesday on Michael Jackson had his hair on fire in a commercial for Pepsi-Cola for 25 years ago.

IBM reported a 13 percent fall in revenue amid a decline in corporate spending, but cost cuts and a shift to more profitable businesses helped it achieve higher-than-expected earnings, and the company raised its outlook for the full year.

Harley-Davidson Inc and Polaris Industries Inc said on Thursday that cash- strapped consumers steered clear of their big, high-end motorcycles in the second quarter and warned demand would likely remain stalled for the rest of 2009.

U.S. lawmakers on Thursday slammed former Treasury Secretary Henry Paulson over the government's role in Bank of America's merger with Merrill Lynch, saying authorities suppressed information about losses and bullied executives into going through with the deal.