IBT Staff Reporter

Stock futures were little changed 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.

U.S. motorcycle maker Harley-Davidson Inc said on Thursday that its profit fell sharply in most recent quarter as the ugly economic environment soured consumer spending and sent bike sales sliding.

Mobile phone maker Sony Ericsson braced for a tough second half of 2009 after losing market share in the second quarter as its mid-range products found little favor among a declining customer base.

Jim ChristieCalifornia Governor Arnold Schwarzenegger and lawmakers failed on Wednesday night to agree to balance the state's budget by closing a $26.3 billion deficit, but officials said talks would continue.

Michael Jackson's memorial proved to be good for business, sparking another nostalgic frenzy for his music that continues to put the King of Pop atop music charts since his sudden death three weeks ago.

California's attorney general said on Wednesday his office has run several doctors' names and several potential aliases through its prescription drug database to aid police investigating the death of Michael Jackson.

U.S. Treasury Secretary Timothy Geithner said on Thursday there was a very encouraging improvement in confidence in the financial system.

The unemployment claims report compiled weekly will release the number of individuals who filed for unemployment insurance for the first time for the week ending July 11. Initial jobless claims in the July 4 week fell a very steep 52,000 to 565,000 -- the lowest level since the beginning of the year.

JPMorgan Chase & Co

JPMorgan Chase & Co

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.

JPMorgan Chase & Co

Mobile phone maker Sony Ericsson posted a second-quarter pretax loss in line with expectations on Thursday and repeated its forecast for the global handset market to contract at least 10 percent this year.

World stocks hovered around flat on Thursday despite strong Chinese growth data that provided reassurance on the global economy as investors braced for the spate of U.S. and European corporate results due this week.

U.S. stock index futures pointed to a lower start on Wall Street Thursday, ahead of second-quarter numbers from JPMorgan, Google and IBM.

Germany dismissed a report on Thursday that RHJ International had overtaken Magna as the front-runner to take over carmaker Opel, saying the race remained wide open.

The owners of indebted automotive group Porsche SE have agreed in principle to accept Volkswagen's plan for a merger but the deal awaits final approval, German newspapers reported on Thursday.

Asian shares jumped on Thursday, buoyed by strong U.S. earnings and increasing global recovery hopes after China's economy grew faster than forecast in the second quarter.

Leo is affectionate, likes stuffed toys, eats fish and is a hit with ladies looking for love on online. Not bad, for a 3-year-old Golden Retriever.

Bank of America Corp is operating under a secret U.S. regulatory sanction that requires it to overhaul its board and address perceived problems with risk and liquidity management, The Wall Street Journal reported, citing people familiar with the situation.

Asian shares jumped on Thursday, buoyed by strong U.S. earnings and global recovery hopes after China's economy grew faster than forecast in the second quarter.

The refining profit in the first half of 2009 has increased to a record level, PetroChina Company, Ltd., the largest integrated oil company in China said on Wednesday, without providing any specific numbers.

Rio Tinto Ltd/Plc has evacuated staff in China involved in research of the iron ore and steel industry in response to the detention of some of its iron ore traders by state authorities, the Australian Financial Review reported on Thursday.

CIT Group Inc, a lender to small and mid-sized businesses, said late Wednesday talks with government agencies have ended and “there is no appreciable likelihood of additional government support being provided over the near term.”

Fed sees more jobs lost this year, higher rates in 2010, Paulson defends tactics, U.S. China partner for clean energy

The Obama administration on Wednesday sent Congress legislation that would pry open hedge funds to wider scrutiny, requiring those with more than $30 million under management to register with the government and greatly boost disclosure.

After six attempts, Space shuttle 'Endeavour' has finally blasts off safely for space station mission. The space shuttle Endeavour was successfully lifted up this evening at 6:03 P.M. EST on a mission to the International Space Station (ISS) from the Kennedy Space Center at Cape Canaveral in Florida.

The deadly July 5 riots in northwest China cost soft drink giant Coca-Cola's new joint venture bottling plant in Xinjiang about 8 million yuan ($1.17 million) in sales over the last week, the plant's general manager on Tuesday.

American International Group Inc said on Wednesday it was moving ahead with spinning off a large life insurance unit, even as a source said it continues to hold sales talks with MetLife Inc.