IBT Staff Reporter

International Energy Agency on Thursday said global demand in oil consumption will fall 3% in line with the OPEC agreements rising prices due to sentiment rather than supply and fundamentals demands.

Stocks rose on Thursday as investors returned to financial and technology shares on bets the recent rally could have more room to grow after a brief pullback.

The Obama administration moved on Wednesday to exert more control over the shadowy over-the-counter derivatives market, now closely linked to the global credit crisis.

The map below demonstrates the chickenpox impact that just the initial round of Chrysler dealer shutdowns will have on the US economy. As is evident from the map (an interactive version of the map can be accessed here), the pain will be focused east of the Rockies, although major West Coast metropolises will not be spared either: every dot represents an automotive dealer that Chrysler disclosed to...

U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March, RealtyTrac said on Wednesday.

The number of U.S. workers filing new claims for jobless benefits rose last week, Labor Department data showed on Thursday, largely pushed up by auto plant shutdowns related to Chrysler's bankruptcy.

Facebook has confirmed that the site has fallen victim to another phishing attack following this mornings complaints from users that said they noticed a suspicious link that popped up on the site.

Documents made public on Wednesday confirm former U.S. Treasury Secretary Henry Paulson gave nine major banks no choice but to allow the government to take equity stakes in them as the Bush administration moved to address turmoil in the financial industry.

Adoption of new technology could lower total energy consumption of US by 2030 according to a study released today by the American Council for an Energy Efficient Economy (ACEEE).

New types of pennies are now available on the new US Mint catalog and available for sale.

Chrysler LLC notified all U.S. dealers on Thursday about its plans to eliminate 25 percent of its retail showrooms while rival Ford Motor Co assured investors it is on track to at least break even in 2011 without seeking any U.S. government aid.

The German solar industry expects a recovery in the second half of this year after a string of earnings showed on Thursday the sector has written off the first three months as the low point of 2009.

A severe kernel security hole was detected in Windows 7 RC security researcher 360 Security said on Thursday.

The recovering high-yield, high risk debt market has lost two managers at Black Rock, Inc, according to a report.

U.S. securities regulators plan tougher rules to hold investment advisers more accountable for their clients' money following money manager Bernard Madoff's massive fraud of as much as $65 billion over two decades.

Chrysler LLC notified all U.S. dealers on Thursday about its plans to eliminate 25 percent of its retail showrooms and is seeking permission from a U.S. bankruptcy court to terminate franchise agreements.

Stocks rose on Thursday as a recent pullback fueled buying of technology and financial shares on bets that equities may extend the run-up from early March.

President Barack Obama pressed the U.S. Congress at a town-hall meeting on Thursday to pass credit card reform measures cracking down on abusive practices by credit card companies.

Sony Corp forecast a second straight year of losses as the global recession batters demand for consumer electronics but the Japanese company stopped short of taking any new aggressive steps to cut costs further.

Google was experiencing some technical issuesm the Mountain View-based company confirmed this morning after the site was taking long to load and users were experiencing problems in accessing various Google Web applications.

Two U.S. journalists will be tried by North Korea on June 4 on accusations of illegal entry and hostile acts.

About $1 billion has been recovered to pay back the defrauded customers of swindler Bernard Madoff, but settlements in the coming weeks will boost the number significantly, the trustee winding down the Madoff firm said on Thursday.

U.S. securities regulators plan tougher rules to hold investment advisers more accountable for their clients' money following money manager Bernard Madoff's massive fraud of as much as $65 billion over two decades.

Ford Motor Co's restructuring is on track to bring a profit as soon as 2011, without the need for emergency government bridge loans, executives told stockholders on Thursday at the automaker's annual meeting.

Stocks rose on Thursday as a resurgent appetite for riskier equities fueled a rebound in the financial and technology sectors as investors were tempted back into the market after a recent pullback.

It was relatively easy for the Obamastration to dispense with a band of rogue hedge funds that were worrying the impending Chrysler-Fiat alliance. Once the names of the holdout creditors were made public, their revolt was crushed by public opinion. They used to be so, so cool, but we all hate hedge funds now.

The U.S. Treasury Department on Thursday announced changes to encourage mortgage lenders to slash loan payments in the worst-hit markets and use so-called short sales to extract troubled home owners from unaffordable mortgages.

Pope Benedict practiced dialogue and diplomacy on Thursday, discussing Iran's threats against Israel with the Jewish state's prime minister and singing a peace song at an inter-faith meeting with Muslims and Jews.

A proposed alliance between AMR Corp's American Airlines and British Airways would create a monster monopoly, British entrepreneur Richard Branson said on Thursday.