IBT Staff Reporter

The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, but the seasonally adjusted data was again distorted by an unusual pattern of automotive industry layoffs that amplified the drop.

Las Vegas Sands Corp is seeking to amend its Macau bank loans of about $3.4 billion, a spokesman for the casino operator said on Wednesday.

Apollo Commercial Real Estate Inc has filed an application to raise up to $600 million in an initial public offering and plans to invest in commercial mortgage-backed securities with part of the proceeds, according to a regulatory filing.

Independent oil and gas company Range Resources Corp said its second-quarter production rose to 434 million cubic feet equivalent per day (mmcfe/d), outpacing its earlier forecast of 420-425 mmcfe/d.

Insteel Industries Inc swung to a third-quarter loss, hurt by an inventory write-down and a drop in shipments and average selling prices, but said it expects wire rod prices to rebound going ahead.

Brazil's state development bank BNDES has become a major player in government efforts to pull Latin America's largest economy out of recession.

Distributor of automotive replacement equipment Uni-Select Inc said it would sell assets of its heavy duty group, generating about C$22 million ($19.66 million) in cash.

The Dow industrials and Nasdaq dipped into negative territory while the S&P 500 fell further after a survey showed factory activity in the U.S. Mid-Atlantic region contracted for a 10th consecutive month in July, adding to worries about the economy's strength.

Two plans are on the table to relieve Porsche SE's 10 billion euro ($14.09 billion) net debt burden and perhaps foster a tie-up with Volkswagen to create an automotive powerhouse.

The families that own Porsche SE have not yet agreed on a strategy to cut the automotive group's debt and join forces with Volkswagen, Porsche's deputy chairman said on Thursday.

Procter & Gamble Co could look to exit businesses such as Duracell batteries, Pringles snacks, pet food and pharmaceuticals, a prominent analyst said on Thursday.

Chinese carmaker Beijing Automotive (BAIC) has lost more ground to rivals Magna and RHJ in the race to acquire control of Opel, several sources familiar with the situation said on Thursday.

Investment banking revenues may be driven in coming quarters by mergers and acquisitions (M&A) and equities, as the high-grade fixed income boom draws to a close, Credit Suisse analysts said on Thursday.

Dear Sam: l lost my job as a district manager in 2008. Since then, I have bounced around, holding two jobs each lasting six months. I am afraid that I may not be hired by another company, as I am 59 years old. What would you suggest? - Simon

Stocks opened lower on Thursday as investors turned cautious following a jump in quarterly profit at JPMorgan Chase & Co and a steep fall in jobless claims, a day after Wall Street tallied its biggest three-day gain since March.

JPMorgan Chase & Co posted a higher quarterly profit on Thursday, topping Wall Street estimates, as strength in its core consumer and investment banking businesses offset a jump in credit losses.

Baxter International Inc, which makes blood therapy and kidney dialysis products, reported higher-than-expected quarterly net earnings on Thursday, as improved margins helped outweigh the negative impact of foreign exchange rates.

JPMorgan Chase & Co said record investment banking fees helped drive a 36 percent rise in quarterly profit, topping Wall Street forecasts, but warned that credit quality in consumer mortgages and credit cards is deteriorating faster than it expected.

Stock index futures pointed to a mixed open on Thursday as investors turned cautious following a jump in quarterly profit at JPMorgan Chase & Co and a steep fall in jobless claims, a day after Wall Street tallied its biggest three-day gain since March.

The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, the government said on Thursday, but the data was distorted by an unusual pattern of automotive industry layoffs that amplified the drop.

Stock futures on Thursday pointed to a Wall Street open that was little changed as investors paused to assess the sustainability of the market's recent run-up.

Two badly damaged black box flight recorders have been recovered from an Iranian airliner that crashed and killed all 168 people on board, official media said on Thursday.

The world's top cellphone maker Nokia cut its forecast for second half profitability and 2009 market share at its key phone unit on Thursday, sending its shares sharply lower.

The number of U.S. workers filing new claims for state jobless benefits fell sharply latest week to the lowest level since January as many auto layoffs were postponed, the Labor Department said Thursday.

U.S. motorcycle maker Harley-Davidson Inc's quarterly profit fell sharply, as bikers put off new purchases. It also slashed its 2009 shipment forecast and said it would cut another 1,000 jobs.

Oil dipped below $61 a barrel on Thursday after gaining more than 3 percent in the previous session, as investors remained cautious about the pace of economic recovery despite strong growth numbers from China.

CIT Group Inc , a lender to hundreds of thousands of small and mid-sized U.S. businesses, said bailout talks with the government had ended, a development that could ultimately drive the company into bankruptcy.

Stock index futures slipped on Thursday as a jump in quarterly profit at JPMorgan Chase & Co was overshadowed by investor angst about the future of lender CIT Group Inc and caution ahead of a key report on the labor market.

Brazil's state development bank BNDES will lend 25 billion reais ($12.8 billion) to Petrobras denominated in local Treasury notes, the first loan of its kind in Latin America's largest economy, daily newspaper Valor Economico said on Thursday.