IBT Staff Reporter

The death toll from twin car bomb blasts in a crowded Baghdad market rose to 51 Thursday, police said, and the country's main Sunni political party condemned the attack on a heavily Shi'ite Muslim area.

Russia took formal control over the de-facto borders of Georgia's rebel regions on Thursday a week before NATO military exercises in Georgia that President Dmitry Medvedev said amounted to a challenge from the West.

Oil retreated toward $50 a barrel on Thursday, erasing earlier gains after weak U.S. employment data and news that U.S. automaker Chrysler will file for Chapter 11 bankruptcy.

The Democratic-controlled U.S. Congress Wednesday approved a $3.4 trillion compromise budget plan for the 2010 fiscal year, clinching a big victory for President Barack Obama on his 100th day in office but with no Republican support.

A vacant five story building located on 69 Reade Street TriBeCa collapsed partially just after 6:15am this morning; there were no reported casualties from the collapse

The Pakistan army battled through mountain passes on Thursday in a third day of fighting to evict Taliban fighters from a strategic valley, after U.S. President Barack Obama welcomed its newfound resolve.

Stocks climbed on Thursday as better-than-expected company profits and a decline in initial jobless claims stoked optimism that the economic slump is showing signs of abating.

Mexican President Felipe Calderon told his people to stay home from Friday for a five-day partial shutdown of the economy, after the World Health Organization said a swine flu pandemic was imminent.

Procter & Gamble Co posted better-than-expected quarterly earnings on Thursday, but trimmed its fiscal 2009 outlook and did not offer a 2010 forecast at a time when investors are searching for clarity amid the recession.

President Barack Obama sought to reassure Americans on Wednesday he was making progress tackling the economic crisis and in fixing the U.S. image abroad, but urged patience.

Apple Inc is hiring new employees from the semiconductor industry and is building the capability to design its own chips, the Wall Street Journal reported on Wednesday.

With the recession impacting college students, MTV's college network mtvU is turning to one medium it knows will get attention to help teach students to cope with tough financial times -- a video game.

Motorola Inc said its second-quarter loss will narrow after first quarter results came in stronger than expected thanks to deep cost cuts, sending shares up 1 percent.

Chrysler LLC will file for Chapter 11 bankruptcy protection to reorganize the troubled carmaker after talks with debt holders broke down, an Obama administration official said, according to reports.

The number of U.S. workers filing new claims for unemployment benefits fell last week, but the weak job market continued to pressure incomes and spending in March, government data showed on Thursday.

Wall Street was set for a gain of more than 1 percent on Thursday as better-than-expected company profits in the first quarter and a surprise total of new jobless claims stoked optimism the recession is showing signs of easing.

Exxon Mobil Corp , the world's largest publicly traded company, posted a 58 percent drop in quarterly profit, missing Wall Street estimates, as the global recession sliced into demand for crude oil and depressed prices.

Swedish telecom gear maker Ericsson posted weaker-than-expected underlying earnings, hit by a slumping global mobile phone market and cutbacks in investments by operators.

Swedish telecom gear maker Ericsson posted weaker-than-expected underlying earnings, hit by a slumping global mobile phone market and cutbacks in investments by operators.

Procter & Gamble Co and Colgate-Palmolive Co posted better-than-expected quarterly earnings on Thursday as the companies hiked prices and cut costs to help offset weaker demand in the recession.

The world can burn only a quarter of proven reserves of oil, gas and coal to be confident of staying within safer climate limits, unless untested carbon fixes work, experts said on Wednesday.

Chevron Corp on Thursday won conditional approval from an Australian environmental regular for the multi-billion dollar Gorgon gas project, bringing a final investment decision closer.

The number of U.S. workers filing new claims for jobless aid unexpectedly declined by 14,000 last week, government data showed on Thursday, while continued claims notched a fresh record high as the recession chilled the labor market.

Chrysler LLC rushed to clinch a deal on Thursday to stave off collapse ahead of a midnight deadline imposed on the No. 3 U.S. automaker by the Obama administration.

Procter & Gamble Co posted a 4 percent drop in quarterly profit on Thursday as consumers traded down to less expensive products in the challenging economy, leading to a decline in sales.

Industrial conglomerate Tyco International Ltd posted a net $2.57 billion net loss, reflecting large charges to revalue its assets in light of a weak economy, but earnings excluding special items beat Wall Street expectations.

Chrysler LLC rushed to clinch a last-minute deal on Thursday to stave off collapse ahead of a midnight deadline for the third-largest U.S. automaker.

Stock index futures pointed to a more than 1 percent gain on Thursday as the first quarter's better-than-expected corporate profits stoked optimism the economic slump is showing signs of easing.

Dow Chemical Co posted a surprise first-quarter profit on Thursday, helped by cost reductions, gains in its agricultural segment and lower raw material costs.