IBT Staff Reporter

Shares of American International Group Inc plummeted 22 percent on Thursday after a Citigroup analyst said the value of the troubled insurer's equity may fall to zero.

Prosecutors charged four Chicago-area cemetery workers with felony counts on Thursday for allegedly digging up graves and dumping the remains to resell the burial plots.

Talks and speculations have been mounting on when and where will the King of Pop's body be buried.

The U.S. Department of the Treasury and Department of Energy announced on Wednesday an estimated $3 billion from Recovery Act funds to speed up the development of renewable energy projects, which the Obama administration says it will help the nation's economy.

Sprint Nextel Corp said on Thursday that Ericsson would manage its network as part of a seven-year deal worth $4.5 billion to $5 billion under which 6,000 Sprint workers would move to Ericsson.

The Intermountain Power Agency said on Thursday it will not continue efforts to seek an air permit for a third 900-megawatt coal-fired power unit at its plant in Utah.

Shares of casino stocks rose on Thursday after the Nevada Gaming Control Board released gaming revenues for May that showed a moderating decline.

Chevron Corp plans to appeal a California judge's ruling that halted a $1 billion project to build a hydrogen plant at its San Francisco Bay refinery in Richmond, California, a company spokesman said on Thursday.

Nokia on Thursday unveiled a new line of mobile phone, a ruggedized 3720 classic handset but built in IP-54 standards to resist water, dust and shock.

Citigroup announced on Thursday its biggest management shake-up since the financial crisis began, replacing its chief financial officer and installing a new banking chief as it prepares to give the government a 34 percent equity stake.

An earthquake measuring 6.0 on the Richter scale hit southwest China's Yunnan Province Thursday evening, with more than 620,700 residents involved and one dead, local authorities said early Friday.

AOL, which is in the process of being spun off from Time Warner Inc, is reviewing assets it could sell or divest, but will likely keep its social networking site Bebo, CEO Tim Armstrong said.

AOL, which is in the process of being spun off from Time Warner Inc, is reviewing assets it could sell or divest, but will likely keep its social networking site Bebo, CEO Tim Armstrong said.

U.S. stocks rose on Thursday as investors snapped up beaten-down technology and commodity shares, while a positive broker comment on Goldman Sachs boosted the financial sector.

Thor Hushovd of Norway won the sixth stage of the Tour de France on Thursday in a wet day in Barcelona.

Oil prices rose Thursday after a six-day slide as a drop in U.S. jobless claims fueled optimism about the economy.

Coming to a living room near you -- 3D videogames.

A U.S. District Court judge on Thursday denied a request by a committee of asbestos personal injury claimants to delay the sale of General Motors Corp pending its appeal.

The Obama administration said it will give $3 billion in government funds for renewable energy projects. Yang Rong, an exile automobile tycoon will announce a plan to launch a new clean-tech automobile company in the U.S.

The memorial service of Michael Jackson has cost Los Angeles $1.4 million to provide security, traffic control and other service, city officials said Wednesday.

For years it was the talk of the wireless industry: beaming television to the world's four billion cellphones would be the icon of the digital age. Now, just three letters are hastening the demise of that vision.

Chipmaker Broadcom Corp withdrew its recently sweetened $912-million bid for Emulex Corp on Thursday after the storage technology company rejected the bid as too low.

Sprint Nextel Corp said on Thursday that Ericsson would manage its network as part of a seven-year deal worth $4.5 billion to $5 billion under which 6,000 Sprint workers would move to Ericsson.

Merck & Co Inc shares fell 3.8 percent on Thursday amid speculation its Zetia cholesterol medicine fared poorly in a clinical trial comparing it with Abbott Laboratories' Niaspan in preventing plaque build-up in arteries.

Riot police fired in the air to disperse pro-reform demonstrators in central Tehran on Thursday, nearly four weeks after a disputed election triggered mass protests across Iran, a witness said.

Oil prices steadied at $60 a barrel on Thursday after a six-day slide as a drop in U.S. jobless claims fueled optimism about the economy.

China overtook the United States as the world's biggest auto market for the first half of 2009 after June sales soared 36.5% from a year earlier, according to official data released on Thursday.

As Citigroup downsizes, chief executive Vikram Pandit announced today he is installing new senior managers at the company's top ranks.

American International Group Inc , the insurer rescued by a series of federal bailouts, may have zero equity value due to the risk of more credit default swap losses and the disposal of key assets at low valuations, Citigroup said.