IBT Staff Reporter

New York Times Co's flagship newspaper plans to eliminate several weekly sections and cut freelance spending to save millions of dollars in annual costs, according to a memo obtained by Reuters.

Time Warner Cable Inc said on Thursday it would shelve plans to test a system that bills customers for the amount of broadband bandwidth they use instead of at a flat fee to access the Internet from home after an uproar from consumer groups and politicians.

Google Inc's YouTube video-sharing site has signed content deals with several Hollywood studios, two sources familiar with the matter told Reuters on Thursday.

Google Inc's quarterly profit topped expectations, helped by cost controls and marketers switching to online ads from traditional media, sending its shares up as much as 5 percent.

The U.S. government reported on Thursday record numbers of people receiving unemployment benefits as the total jobless count exceeded 6 million for the first time – again dimming hopes of seeing the end to the recession.

American International Group Inc agreed to sell its U.S. auto insurance business to Zurich Financial Services for $1.9 billion, marking the largest asset sale by the insurer since its September rescue.

The U.S. government reported on Thursday record numbers of people receiving unemployment benefits as the total jobless count exceeded 6 million for the first time – again dimming hopes of seeing the end to the recession.

Stocks surged on Thursday as expectations of reassuring results from bellwethers, including Google, lifted technology shares, while JPMorgan's better-than-expected profit added to bank stabilization hopes.

Dear Sam: I recently graduated from college and have been job hunting for the past three months but am not getting any results. My problem is that I have little work experience. How can I make my résumé eye-catching to employers? – Emily

Southern California Edison signed an agreement to buy 90 megawatts of power from a wind farm developed by Seattle-based Ridgeline Energy and BP Wind Energy.

Microsoft and the U.S. Justice Department agreed to extend some portions of federal antitrust oversight by 18 months, to May 2011, according to court papers filed on Thursday.

Chinalco’s $US19.5 billion ($27 billion) deal with Rio Tinto are unlikely to trouble the government and its best assets will draw regulatory scrutiny, according to the Australian reports Thursday.

New Jersey regulators have approved an investment of about $1 billion for energy infrastructure projects administered by utilities which aim to create jobs and spur the state’s economy.

Sony Corp's Sony Pictures on Thursday became the sixth major studio to support a theater-chain upgrade to digitally convert 20,000 U.S. and Canadian cinema screens, at an estimated cost of more than $1 billion.

The results of tests to gauge how the top 19 U.S. banks would fare should the deep U.S. recession worsen will be publicly disclosed on May 4, a regulatory official said on Thursday.

In the past week both commercial banks and investment firms have borrowed less over the past week from the Federal Reserve's emergency lending program, a hopeful sign some credit stresses are easing a bit.

Google Inc. on Thursday reported first quarter net income of $1.42 billion, or $4.49 a share, up from $1.3 billion or $4.12 a share in the same period last year.

In his second big trip abroad since becoming U.S. president, Barack Obama pledged strong support on Thursday for the Mexican government's fight against powerful drug cartels, who are waging turf wars along the border.

Stocks soared on Thursday as expectations of reassuring results from bellwethers, including Google, lifted technology shares, while JPMorgan's better-than-expected profit added to bank stabilization hopes.

Time Warner Cable Inc. is shelving its plan to bill customers based on how much Internet traffic they generate, until it can improve its customer education process, after receiving a poor response from consumers.

Google posted better-than-expected quarterly earnings on Thursday, sending its shares up more than 5 percent.

Rosetta Stone Inc shares rose 42 percent in their trading debut Thursday, following the company's initial public offering, putting it on pace for the strongest start of a new stock in a year.

The number of Americans claiming jobless aid hit a record in early April and groundbreaking for new homes slumped last month, but a top Federal Reserve official voiced hope the recession was ending.

Somali Prime Minster said Thursday they needs more help to fight against pirates and would be willing to share the pirates’ information with other countries.

The bankruptcy of the second-largest U.S. mall owner, General Growth Properties Inc, will have little immediate effect on its retail tenants, but could hurt them down the road.

Stocks climbed on Thursday as expectations of reassuring quarterly results from bellwethers, including Google , lifted tech shares, while JPMorgan's better-than-expected profit added to bank stabilization hopes.

JPMorgan Chase & Co posted better-than-expected quarterly profit, demonstrating the kind of resilience that allowed Chief Executive Jamie Dimon to assert the bank could pay back the government $25 billion immediately.

President Obama and his wife, Michelle, made $2.73 million last year and paid $855,323 in federal taxes, an amount that would increase by $102,000 if his budget plan were in effect.

Stocks jumped on Thursday as expectations of reassuring quarterly results from bellwethers including Google lifted technology shares, while JPMorgan's better-than-expected profit added to bank stabilization hopes.