IBT Staff Reporter

The Obama administration on Wednesday named a former U.S. Justice Department official who was border czar during Bill Clinton's presidency to lead its efforts to crack down on drug-related violence along the U.S.-Mexican border.

India will hold a general election between April 16 and May 13, a mammoth process in which 714 million people will be able to cast their votes in the world's largest democracy.

From the snowbound Chinese border to holy Ganges cities, tens of millions of Indians began voting in a month-long election with signs that an unstable coalition may emerge in the middle of an economic slowdown.

About a dozen people died in a shootout in Mexico between soldiers and suspected drug traffickers ahead of a visit by U.S. President Barack Obama to discuss the drug war, Mexican media reported on Thursday.

Nokia Siemens Networks said on Thursday the global telecoms equipment market would shrink faster than it expected, as it reported a fall to first-quarter loss.

General Growth Properties Inc, the second-largest U.S. mall owner, declared bankruptcy on Thursday in the biggest real estate failure in U.S. history.

In his second big trip abroad since becoming U.S. president, Barack Obama arrives in Mexico on Thursday to show support for the Mexican government's efforts to fight a devastating drug war and boost security along the U.S. border.

You know the American restaurant paradigm is shifting when communal benches become more desirable than leather banquettes.

The number of U.S. workers filing new claims for jobless benefits unexpectedly fell last week, government data on Thursday showed, but so-called continued claims rose to a fresh record as the recession bit.

Southwest Airlines reported a larger-than-expected quarterly loss on Thursday as demand weakened in the recession and said it would offer voluntary employee buyouts in a bid to reduce costs, sending its shares down more than 11 percent.

The Verizon Hub, a new kind of home phone with some Web add-ons like weather and traffic reports, will soon come with an applications market, following a trend among cellphone makers such as Apple to open up to third-party apps.

Low cost carrier Southwest Airlines on Thursday reported a quarterly net loss on weaker demand amid economic recession that has resulted in a sharp drawdown of consumer spending and leisure travel.

The Dow and S&P 500 lost ground on Thursday as some investors fretted about the quality of bank earnings, which weighed on financial shares, and after a report that IBM was not interested in further negotiations with Sun Microsystems Inc.

The mustached face of Sir Allen Stanford, the billionaire Texan accused of an $8 billion fraud by U.S. regulators, can be yours for only $29.99.

EBay Inc offered to buy South Korean online retailer Gmarket Inc for up to $1.2 billion, making it the leader in the world's sixth-largest e-commerce market.

Harley-Davidson Inc said on Thursday that quarterly earnings fell 37 percent, pulled down by costs from its recession-triggered restructuring as well as a tax change in its home state of Wisconsin.

Technology start-up OpenX launched an online ad marketplace for smaller Web publishers on Thursday designed to be an alternative to offerings from Google, Microsoft, Yahoo and AOL.

Stocks opened higher on Thursday as JPMorgan Chase & Co reassured some investors about the health of banks after it reported better-than-expected quarterly results and following several positive reports from the technology sector.

Harley-Davidson Inc reported stronger-than-expected earnings on Thursday, and reiterated its full-year shipment forecast, saying it was mildly encouraged by sales trends in the United States, its biggest market by far.

The number of Americans claiming jobless aid hit a record early in April and groundbreaking for new homes slumped sharply in March, according to data on Thursday that showed the economy still being held back by the recession.

Water scarcity means big growth for companies that purify, transport, and distribute the world's most essential resource, but a global recession that has halted new projects and put off price hikes means water investors will have to wait for the boom years.

Stock index futures pointed to a higher open on Thursday as JPMorgan Chase & Co reassured some investors about the health of banks after it reported better-than-expected quarterly results and following several reassuring reports on the technology sector.

Scientists in Singapore say they have found a way to turn planet-warming carbon dioxide into clean-burning methanol using a process that uses less energy than previous attempts.

New U.S. housing starts fell in March after a surprise surge the previous month, government data showed on Thursday, dealing a blow to hopes that housing market stability was on the horizon.

New U.S. housing starts fell more than expected in March after a surprise surge the previous month, government data showed on Thursday, dealing a blow to hopes that housing market stability was on the horizon.

JPMorgan Chase & Co reported better-than-expected first-quarter profit on Thursday as improved investment banking performance offset increased losses from credit cards and other consumer debt.

New U.S. housing starts fell more than expected in March after a surprise surge the previous month, government data showed on Thursday, dealing a blow to hopes that housing market stability was on the horizon.

Stock index futures pointed to a higher open on Thursday after top cell phone maker Nokia reassured investors by reaffirming its handset market forecast and a report said that Sun Microsystems Inc is willing to resume takeover talks with IBM .

More than half of U.S. adults used the Internet to participate in the 2008 election -- the first time that threshold has been crossed, according to a study released Wednesday.