IBT Staff Reporter

American Airlines said Wednesday it would end flights between New York's John F. Kennedy International Airport and London's Stansted Airport as part of in a bid to cut capacity costs as fuel prices continue to soar.

Ford Motor Co. plans to downsize its U.S. salaried work force by up to 12 percent in a bid to advance its restructuring plan after stalling amid lower sales and soaring gas prices, according to media reports.

Borders book chain said late Tuesday its same-store sales fell and its losses persisted in the first quarter.

American Airlines parent AMR Corp. said Tuesday it will start with discontinuing some long-haul service, including Chicago flights to Honolulu and Buenos Aires in response to skyrocketing fuel prices and softening economy.

Jamba Inc., the owner of the Jamba Juice smoothie-store chain, on late Tuesday reported a first-quarter net loss as operating expenses rose.

Avanir Pharmaceuticals shares climbed as the company reported today positive results of its large pharmacokinetic study to identify an alternative dosing formulation of Zenvia, designed to deliver similar efficacy as observed in the first Phase III clinical study in diabetic peripheral neuropathic pain.

Sears Holdings Corp. signed an agreement with hip-hop artist LL Cool J to introduce an exclusive line of streetwear for children and teens this fall.

Biopharmaceutical group Favrille Inc. shares slumped near 90 percent on Tuesday after the company said it will stop the development of its lead cancer drug, Specifid, as it failed to meet a strategic goal in a late stage trial.

Struggling homebuilder Standard Pacific Corp. received a vote of confidence in the form of a $530 million investment from private equity group MatlinPatterson Global Advisers LLC on Tuesday, sending its shares up nearly 50 percent.

A New York judge said on Tuesday that Dell Inc. falsely advertised its promotional credit financing and warranty terms to customers.

Google claims that Viacom's $1 billion copyright infringement suit against the You Tube video service threatens legitimate communication across the Internet.

Gold futures closed down almost $18 an ounce on Tuesday, dropping the most in four weeks as energy costs fell and lowered the demand for the contract as a hedge against inflation.

Bank of America Corp will exercise a $1.86 billion option to buy additional shares of China Construction Bank Corp.

After seven years of being in an alliance with Amazon.com, Borders Group Inc. is finally setting out on its own with the launch of Borders.com.

U.S. stocks recovered earlier gains as lower crude oil prices dragged energy companies shares down, while lifting airlines and bleak data showed a mixed picture of the housing sector.

Vodafone Group's chief executive Arun Sarin, saying he has achieved what he set out to do when he took the position five years ago, is retiring to be replaced by deputy chief executive Vittorio Colao.

The FTSE 100 share index fell 94.3 points on Friday to 6,087.3 (down 1.5 per cent).

Publishing company, Future Plc, said on Friday that it's pre-tax profit for the half year ended 31 March 2008 increased 17 per cent.

Shares in business class-airline Silverjet were suspended on Friday by the London Stock Exchange.

According to a new report the rogue trader at the centre of the trading scandal which cost Societe Generale 4.9 billion euros, may hay have had help from another trader.

Research by Alliance & Leicester has suggested that 36 million people (around 76 per cent of Britons) are preparing to make cut-backs on personal spending.

Microsoft will end its book search and academic search projects as it seeks to develop a sustainable business model for its search engine, the company said on Friday.

The U.S. Federal Communications commission could reach a decision by the end June about whether to give its go-ahead to Sirius Satellite Radio Inc's acquisition of XM Satellite Radio Holdings Inc

AMR Corp.'s American Airlines, UAL Corp.'s United Airlines and Delta Air Lines Inc. raised fares in the U.S. by up to $60 as the airline industry continues to struggle with soaring oil jet-fuel costs.

Have you ever wished that doctor would appear in a blink of an eye without having to wait or spend thousands of dollars? A new project launched today in Miami offers video medical consultations for $40 with webcams available through MDWebLive.com.

Kimberly-Clark Corp, the maker of Kleenex facial tissue and Huggies diapers, said on Friday that it plans to raise prices in the U.S. for its baby, childcare and consumer tissue products.

Tokyo stocks closed over 2 percent higher on Friday, with Japan's key Nikkei index topping the 14,000 line for the first time in about two months, as an overnight surge in U.S. stocks led to heightened optimism about the U.S. economic outlook.

Hong Kong based Wing Lung Bank Ltd. has picked China Merchants Bank Co. as its preferred bidder after the Wu's family announced to sell its whole 53 percent stake.

General Motors Corp. shares fell almost 5 percent on Friday after the automaker said the three-month strike by the United Auto Workers at American Axle & Manufacturing Holdings AXL is expected to cost $1.8 billion after leaving production.