IBT Staff Reporter

but the target and the damage were transatlantic. MILITARY NETWORKS McKinnon is accused of causing the entire U.S. Army's Military District of Washington network of more than 2,000 computers to be shut down for 24 hours. He has told Reuters he was just a computer nerd who wanted to find out whether aliens really existed and became obsessed with trawling large military networks for proof. At the...

As criticism mounts to make over the Dow Jones Industrial Average .DJI, the godfather of one of the oldest stock forecasting methods known as Dow Theory sees few pressing reasons for upending its lineup.

U.S. Senator Christopher Dodd, chairman of the Senate Banking Committee, said on Wednesday he was agnostic about expanding the Federal Reserve's supervisory powers but has concerns about the central bank's ability to adequately protect consumers.

Just as Wall Street was coming to grips with the notion that bank nationalization might be inevitable, U.S. officials have come out strongly against an idea that strikes at the heart of America's capitalist model.

Stocks rose at the open on Thursday as investors snapped up financial shares following news the Obama administration may request more money to shore up banks. Reassuring news on the banking sector from Europe also buoyed sentiment, offsetting grim U.S. government data that showed the labor market worsening and a slide in durable goods orders. Citigroup rose 11.5 percent to $2.81 while ...

Three of the world's top solar power companies on Tuesday offered a dour view of the industry as it struggles with a dearth of funding options for new projects that has driven up supplies and sent prices on solar panels falling.

The number of U.S. workers continuing to receive state jobless aid jumped to record high in mid-February, data showed on Thursday, as the 14-month recession ravaged the economy and squeezed companies. The worsening domestic and global economic slump also pushed new orders for long-lasting manufactured goods to a six-year low in January. Companies are trying to costs amid slumping demand and tight ...

Stocks headed for a higher open on Thursday as investors searched for beaten-down shares, with financial shares set to rebound following reassuring news from Europe on bolstering the banking sector. The government released more bleak news on the economy, however, as one report showed the number of U.S. workers continuing to claim jobless benefits notched a fresh record in the second week of Februa...

JPMorgan Chase & Co said it expects losses of $1 billion to $1.4 billion in each quarter of 2009 tied to its non-credit-impaired home equity loan portfolio. The second-largest U.S. bank also said on Thursday that falling home prices may result in more borrowers with home equity loans owing more than their residences are worth. It said this could affect 35 percent to 39 percen...

General Motors Corp posted a nearly $31 billion loss on Thursday for 2008 and said its auditors were likely to cast doubt on its ability its viability as it seeks an expanded federal bailout to stay afloat. GM, which asked for up to $30 billion of U.S. government aid, posted losses in all of its major units during the fourth quarter and it burned through $6.2 billion of cash. Revenue plunged by mo...

The number of U.S. workers continuing to claim jobless benefits notched a fresh record in the second week of February, Labor Department data showed on Thursday, while new claims for aid were the highest since 1982. The number of people remaining on the benefits roll after drawing an initial week of assistance increased by 114,000 to a 5.112 million in the week ended February 14, the most recent we...

Royal Bank of Scotland reported the biggest loss in British history on Thursday and said the government's stake could rise as high as 95 percent after it stumped up billions to insure risky bank assets.

Stock index futures cut gains on Thursday following government reports pointing to further deterioration in labor and manufacturing as the recession deepens. The number of U.S. workers continuing to claim jobless benefits notched a fresh record in the second week of February, according to government data. Another government report showed that U.S. orders for long-lasting manufactured goods fell fo...

all with the click of your thumb. Dogs have not only had star billing in Hollywood recently due to string of canine movies like Hotel for Dogs, Marley and Me, and Beverly Hills Chihuahua, but are also becoming more prevalent in videogames with a list of new doggy games. Ubisoft has worked with dog behavior specialist Cesar Millan, host of National Geographic Channel's The Dog Whispere...

New U.S. orders for long-lasting manufactured goods fell for a sixth consecutive month to a six-year low in January, a government report showed on Thursday, as a global slump crimped exports and domestic spending faltered. The decline in durable goods orders and its major components was much more than expected. The Commerce Department said durable goods orders dropped 5.2 percent to $163.8 billion...

President Barack Obama's support on Thursday for a U.S. cap and trade scheme boosted expectations of a global carbon market under a new climate treaty, to be agreed this year to replace the Kyoto Protocol.

The United States and China should hold a summit featuring an agreement on climate change, helping to create international support for a new global pact by the end of 2009, a former White House adviser said on Thursday.

For the world's carmakers the show must go on, and next week at the Geneva Motor Show the emphasis is expected to be put on showcasing green technologies and the industry's longer term prospects while individual companies worry over their very survival.

President Barack Obama's budget outline calls for eliminating substantial tax breaks and increasing fees for the oil and natural gas industry.

Finnish authorities should monitor the Internet more effectively and tighten licensing of firearms to prevent more gun massacres in schools, a government commission said on Thursday. The inquiry was set up after 18-year-old Pekka-Eric Auvinen shot 8 people and himself in November 2007 in Jokela high school near Helsinki. Less than a year later, Matti Saari, 22, killed 10 people and himself at a vo...

General Motors Corp said on Thursday it expects auditors to cast doubt on the automaker's ability to remain viable as it endures the worst market in decades. GM posted a deeper-than-expected quarterly loss as revenue plunged by more than a third. The automaker also warned its pension plans for hourly and salaried workers were underfunded by about $12.4 billion as of the end of 2008. ...

General Motors Corp said on Thursday it expects auditors to cast doubt on the automaker's ability to remain viable as it endures the worst market in decades. GM posted a deeper-than-expected quarterly loss as revenue plunged by more than a third. The automaker also warned its pension plans for hourly and salaried workers were underfunded by about $12.4 billion as of the end of 2008. ...

Bank Sarasin is adding U.S. stocks to its New Power Fund following the signing of a $787 billion stimulus package by President Obama, of which 13.5 percent has been earmarked for climate change initiatives.

Retailer Sears Holdings Corp posted stronger-than-expected quarterly results on Thursday as it cut costs during the recession, and said it was closing 24 additional stores. The company controlled by hedge fund manager Edward Lampert reported net income of $190 million, or $1.55 a diluted share, for the fourth quarter ended January 31, compared with $426 million, or $3.17 a share, a ...

all with the click of your thumb. Dogs have not only had star billing in Hollywood recently due to string of canine movies like Hotel for Dogs, Marley and Me, and Beverly Hills Chihuahua, but are also becoming more prevalent in videogames with a list of new doggy games. Ubisoft has worked with dog behavior specialist Cesar Millan, host of National Geographic Channel's The Dog Whispere...

General Motors Corp said on Thursday it expects auditors to cast doubt on the automaker's ability to remain viable as it endures the worst market in decades. GM posted a deeper-than-expected quarterly loss as revenue plunged by more than a third. The automaker also warned its pension plans for hourly and salaried workers were underfunded by about $12.4 billion as of the end of 2008. ...

U.S. President Barack Obama's call for sweeping investment in clean energy and for carbon cap-and-trade legislation won praise from analysts and the renewables industry, saying it is a rallying call for other nations.

Royal Bank of Scotland reported the biggest loss in British history on Thursday and said the government's stake could rise as high as 95 percent after it stumped up billions to insure the bank's risky assets. RBS also unveiled plans to cut 2.5 billion pounds ($3.56 billion) in costs as part of a restructuring plan which will see it exit or reduce its presence in 36 of the 54 countries it operate...

President Barack Obama will forecast a 2009 deficit of $1.75 trillion in a budget proposal on Thursday that sets goals of overhauling the healthcare system and shoring up the U.S. economy.