IBT Staff Reporter

Swiss drugmaker Roche Holding brushed off the downturn in the first quarter, posting a 7 percent rise in sales led by cancer medicine Avastin, and sounded a confident note for the full year.

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

The world's top cell phone maker Nokia calmed jittery investors on Thursday by reaffirming its forecast for the handset market and saying visibility was improving, sending its shares higher.

JPMorgan Chase & Co

Stock futures pointed to a lower open on Thursday after the bankruptcy of General Growth Properties offset better-than-expected quarterly earnings from JPMorgan Chase & Co .

JPMorgan Chase & Co

Mutual fund companies including BlackRock Inc are asking the U.S. Securities and Exchange Commission to review rules for participating in the Federal Reserve's TALF program to boost lending, the New York Post said, citing sources.

U.S. stock futures pointed to a lower open on Thursday after the bankruptcy of General Growth Properties offset better-than-expected quarterly earnings from JPMorgan Chase & Co .

JPMorgan Chase & Co said on Thursday first-quarter profit fell, as the deepening recession and rising unemployment forced it to set aside more money against losses in its consumer banking business.

World stocks eked out small gains on Thursday as mixed data from China and the United States reminded investors of the fragility of rebounding economies and markets.

China struggled out of the gate this year with its weakest quarter on record, but a pick-up in March showed the world's third-largest economy was on track for stronger growth in coming months.

Brewing giant SABMiller sold less beer than expected in the first three months of 2009 as economic conditions worsened and demand fell in most of its markets, sending its shares lower in early trade.

The world's top cellphone maker Nokia reported on Thursday a sharp fall in January-March sales and profits as the economic downturn sapped demand for new phones.

American International Group Inc is close to selling its U.S. auto insurance business to Swiss insurer Zurich Financial Services for roughly $1.5 billion, a source familiar with the matter said on Wednesday.

Brewing giant SABMiller sold less beer than expected in the first three months of 2009 as economic conditions worsened and demand fell in most of its markets.

Asian stocks pulled back from a six-month high on Thursday, while the safe-haven yen jumped against major currencies after China posted its slowest quarterly growth ever in a reminder of the frailty of the global economy.

eBay plans to spin off its Skype unit, acknowledging that the Web telephone service does not fit with the rest of the company, in an indictment of former CEO Meg Whitman's acquisition strategy.

With three rounds of layoffs announced since the year began, Google Inc is showing rare signs of vulnerability.

South Korea's LG Display Co Ltd posted a second straight quarter of losses due to weak LCD prices, but forecast a pick-up in prices and shipments as the industry recovers from a steep downturn.

Asian stocks pulled back from a six-month high on Thursday, while the safe-haven yen gained after China posted its slowest ever quarterly growth in a signal of the frailty of the global economy.

Johnson & Johnson has decided to drop plans for now to start a separate wellness and disease-prevention unit, its chief financial officer Dominic Caruso told the Wall Street Journal in an interview.

South Korea's LG Display Co Ltd posted on Thursday a steeper-than-expected quarterly operating loss due to weak LCD panel prices, but forecast improvements in prices and shipments as the sector slowly recovers.

Loss-making General Motors unit Saab Automobile said on Thursday it had signed confidentiality agreements with 27 potential suitors in its efforts to find a new owner to help it survive the downturn.

Sun Microsystems Inc would be willing to resume takeover talks with International Business Machines Corp if IBM made a stronger commitment to closing a deal, Bloomberg said, citing two people familiar with the matter.

Thursday, Fitch Ratings downgraded Thailand's long-term foreign currency Issuer Default Rating or IDR to 'BBB' from 'BBB+', and the long-term local currency IDR to 'A minus' from 'A'. The firm however revised the outlook on the ratings to stable from negative.

South Korean flat-screen maker LG Display Co Ltd , posted on Thursday a second straight quarter of losses due to weak panel prices and depressed demand for electronics.

First-quarter sales at Roche Holding AG , the Swiss drugmaker that recently bought Genentech for $46.8 billion, rose 8 percent and met forecasts thanks to the strong growth of blockbuster cancer drug Avastin.

General Motors Corp has told U.S. dealers it is accelerating its timetable for closing about 1,700 dealerships as it rushes to meet a June 1 deadline to restructure under U.S. government oversight, people with knowledge of the discussions said.

First-quarter sales at Roche Holding AG , the Swiss drugmaker that recently bought Genentech for $46.8 billion, rose 8 percent due to strong sales of cancer medicines, in line with forecasts.