IBT Staff Reporter

General Motors moved closer to selling a majority stake in Opel, while the deadline for Chrysler to find a partner entered its final days, and Japan's Toyota kept its top global ranking even after reporting a 27 percent drop in sales.

China celebrated its military confidence at sea Thursday, when anniversary celebrations for the founding of its navy climaxed with a show of the warships and submarines projecting its spreading power.

The Treasury has raised its offer to Chrysler lenders with just over a week remaining for the embattled automaker to reach deals to cut its debt, labor costs and reach an alliance with Italy's Fiat SpA, sources said on Wednesday.

China slammed Japanese Prime Minister Taro Aso on Thursday for his offering to the Yasukuni shrine for war dead, warning of damage to ties while the two Asian powerhouses grapple with financial woes and North Korea.

Two suicide bombers wearing vests full of explosives blew themselves up in separate attacks on Thursday, killing 76 people, including many Iranian pilgrims, in what appeared to be Iraq's bloodiest day in over a year.

Italy's cabinet on Thursday pledged to raise 8 billion euros over the next three years to rebuild the earthquake city of L'Aquila, without raising taxes or creating a hole in public accounts.

Pakistan's government has abdicated to the Taliban in agreeing to impose Islamic law in the Swat valley and the country now poses a mortal threat to the world, U.S. Secretary of State Hillary Clinton said on Wednesday.

An investigation of Bank of America Corp revealed facts that raise questions about the transparency of the U.S. government program to help banks in the financial crisis, New York's top legal officer said in a letter made public on Thursday.

China on Thursday urged the United States not to let the Dalai Lama, whom Beijing brands a separatist, visit the country. The exiled Tibetan spiritual leader, who fled his homeland in 1959 after a failed uprising against Chinese rule, starts a visit to the United States this week.

U.N. Secretary General Ban Ki-moon and Somalia's president urged international donors on Thursday to give the east African country more money to fight piracy and restore order after two decades of anarchy.

Millions of Indians, including Prime Minister Manmohan Singh, voted peacefully on Thursday in the second stage of a month-long general election that could throw up a weak coalition.

The Obama administration should set a positive example by ensuring that the regulators it leads do the right thing by giving the public a clear, detailed and relevant picture of how well or not the largest U.S. banks are doing.

South Africa's ruling ANC headed for election victory on Thursday despite a reinvigorated opposition challenge and party leader Jacob Zuma was easily on course to become president weeks after beating graft charges.

Negotiators from the United States and Russia will take the first steps toward a new treaty to curb nuclear arms Friday, part of an effort to improve relations.

F5 Networks (FFIV) maker of systems that handle and manage delivery of online applications has announced their revenue of $154.1 million for the second quarter of fiscal 2009 fell 3.1% from $159.1 million in the second quarter of fiscal 2008, with profit of $38 per share.

U.S. stocks declined on Thursday as bleak reports on housing and the labor market dented hopes the economic slump was abating and outlooks from bellwethers like UPS heightened worries about corporate profits.

U.S. stocks declined on Thursday as bleak reports on housing and the labor market dented hopes the economic slump was abating and outlooks from bellwethers like UPS heightened worries about corporate profits.

A wildfire along the coast of South Carolina has ripped through Myrtle Beach early Thursday forcing dozens of people to evacuate their homes and leaving behind it more than 8,000 scorched acres.

SunTrust Banks Inc posted its second straight quarterly loss, though results topped forecasts as deposit growth and higher mortgage lending offset charges tied to the collapsing real estate market.

U.S. mortgage rates fell in the latest week, nudging closer to a recent record low, helped by government efforts to bring rates down to levels that will spur demand and help the hard-hit housing market begin to recover.

A wildfire along the coast of South Carolina ripped through Myrtle Beach early Thursday, forcing 2,500 residents to evacuate their homes.

Italian industrial group Fiat SpA said on Thursday it was still in talks to form a partnership with ailing U.S. carmaker Chrysler , adding that it aimed to reach a deal by an April 30 deadline.

Marlboro cigarette maker Philip Morris International Inc reported a higher-than-expected quarterly profit, helped by its Asian, Latin American and Canadian markets, and backed its 2009 earnings forecast, sending its shares up more than 1 percent.

Nokia, the world's biggest maker of cell phones, said on Thursday it was too early to say whether demand for handsets has bottomed out.

The number of U.S. workers filing new claims for jobless benefits rose 27,000 last week, the government said on a report on Thursday that showed the number of workers receiving benefits at a record high.

Two California lenders, First Regional Bancorp (FRGB.O) and Bank On It Inc (BKOT.OB), have entered agreements with the Federal Reserve Bank of San Francisco designed to ensure they remain financially sound, the regulator said on Thursday.

A Nepali telecom firm plans to expand its mobile phone services to the top of Mount Everest, benefitting climbers on the world's highest mountain, a company official said on Thursday.

Hershey Co posted a higher-than-expected rise in quarterly profit on Thursday as the chocolate maker increased its market share despite raising prices.

Britain's privacy watchdog has rejected calls to shut down Google's Street View service after complaints it was intrusive.