IBT Staff Reporter

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Amazon starts videogame trades

Amazon.com said on Thursday that it would allow shoppers to trade-in used videogames for store credit, a move that may challenge a core driver of profitability for game retailer GameStop.

Yahoo Inquisitor Debuts On iPhone

The Yahoo Search Blog announced Thursday that the search startup it acquired last May, called Inquisitor, will be launched as an application on Apple's iPhone.

Total-auction U.S. climate bill unlikely: lawmaker

Any climate bill that passes the Senate is unlikely to adhere to an Obama administration plan that the government auction all of the permits to emit greenhouse gases because it would be too harsh on big industry, a key democratic lawmaker said on Thursday.

ECB cuts interest rates to record low 1.5 pct

The European Central Bank cut interest rates to an all-time low of 1.5 percent on Thursday, keeping up a record pace of reductions as the euro zone economy slides deeper into recession.

O'Shaughnessy sees big upside, S&P 500 at 900

U.S. stocks are trading at compelling prices after their plunge to 12-year lows this week and could rally 25 percent by the end of the year, said Jim O'Shaughnessy, a well-known investor on Wall Street.

Wall St. sinks on financials, GM woes

Stocks slid on Thursday, hit by persistent worries about major banks, including Citigroup , and a warning from General Motors about a possible bankruptcy.

Millions of U.S. households not ready for HD

With about three months to go, U.S. regulators say some consumers are still unprepared for the television industry switch to digital broadcasting, which will affect Americans who do not receive their signals through cable or satellite.

U.S. officials admit huge regulatory gaps on AIG

U.S. regulators failed to spot how much risk insurer AIG was piling on, and by the time they understood, they had no choice but to pour in tens of billions of public dollars, officials said on Thursday.

Bank of America sees grave harm from bonus reveal

Bank of America Corp said it could suffer grave harm if it is forced to reveal data about an estimated $3.6 billion of bonuses paid to Merrill Lynch & Co officials in the days before the bank acquired the brokerage.

U.S. retailers boosted by Wal-Mart in February

U.S. retailers posted better-than-expected February same-store sales on Thursday due to a strong gain at discounter Wal-Mart Stores Inc , which said lower gasoline prices had loosened some household budgets.

GE CFO says no 'time bomb' for finance arm

General Electric Co acknowledged on Thursday that a cut in its top-tier credit rating was possible, but its chief financial officer said there was no time bomb hidden in its hefty finance arm.

Wall St slides on GM worries, banks

U.S. stocks extended declines on Thursday, hurt by a warning from General Motors about possible bankruptcy and persistent uncertainty about the fate of major banks.

One in 8 U.S. homeowners late paying or in foreclosure

About one in eight U.S. homeowners with mortgages, a record share, ended 2008 behind on their loan payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday.

Fed Vice Chairman’s Testimony on AIG Rescue: Full Text

The following are prepared remarks concerning the Federal Reserve’s role in rescuing insurance giant American International Group, Inc. They were made by Federal Reserve Vice Chairman Donald. L. Kohn before a U.S. senate committee in Washington on March 5, 2009.

GM auditors raise doubt on viability

General Motors Corp on Thursday said its auditors had raised substantial doubt about its ability to survive outside bankruptcy if it fails to stem its losses and stop burning cash.

Pepsi introduces drinks with natural sugar

PepsiCo is launching three new beverages, all sweetened with natural sugar instead of corn syrup, in a bid to widen its appeal in upscale stores and revive nostalgia for its brands.

Union group seeks Bank of America CEO ouster

A group that works with union-affiliated pension funds called for the ouster of Bank of America Corp Chairman and CEO Kenneth Lewis, citing the bank's falling stock price and damage from its acquisition of Merrill Lynch & Co.

Palm Twitter: Palm Pre Not Delayed

Rumors began to spread on the blogosphere that Palm was delaying the launch of its Palm Pre, prompting Palm to set the record straight on Twitter.

U.S. productivity plummets, factory orders fall

U.S. business productivity fell in the fourth quarter as output plunged at its fastest pace since 1982, while one in eight U.S. households ended 2008 behind on its mortgage or in foreclosure, according to data on Thursday that underscored the economy's weakness.

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