IBT Staff Reporter

According to the Dow Jones news agency, China UnionPay Co. president Rod Xu said on Thursday that some foreign banks have been granted the right to issue UnionPay cards in China.Xu did not tell whi...

States are investigating how banks and securities firms marketed auction-rate securities to investors as recent failures in the credit markets have prevented many from liquidating the investment inst...

Chinese vehicle exports maintained a growth rate of 88 percent, making annual projected exports more than 1 million this year, according to Zhang Ji, a director of the electrical and mechanical divis...

Capital One Financial Corp., the credit and banking company, said its first-quarter profit fell 9 percent on continued pressures on U.S. companies amid the ongoing credit and mortgage crisis.The Mc...

E*Trade Financial posted a larger-than-expected first-quarter loss on late Thursday, as the online broker struggle to pare its ailing business amid the ongoing credit and mortgage crisis.The New Yo...

High fuel costs were cited as the main reason behind a sharp decline in first quarter results at two of the nation's healthiest carriers.Continental Airlines Inc. reported a loss in the quarte...

Advanced Micro Devices, Inc reported is sixth straight quarterly loss on Thursday but share closed nearly 2 percent higher as results met Wall Street analysts' expectations.AMD piled another $...

By Jon Nadler After scaling up to $953.90 on the back of a new record of $115.50 in crude oil, gold prices turned back to the low $940's as the US dollar climbed to near 71.70 on the index....

Intuitive surgical Inc. published its first quarter profit rose 88 percent stating the company's net income was $44.8 million or $1.12 per share compared to $23.8 million or 62 cents a share on ...

Cubist Pharmaceuticals Inc. reported on Thursday its first quarter 2008 net income was $17.9 million or 26 cents a share.Last year the company posted earnings of $5.6 million or 10 cents a share. A...

Dell announced plans on Thursday to expand its business in China by selling desktop and notebook computers at Suning, and doubling the number of Gome stores that carry Dell machines.Suning is China...

Google posted a 30 percent increase in its first quarter profit, exceeding the forecasts that had cited concerns of the weak U.S. economy and a decline in advertising spending.The results pushed Go...

Rice advanced in Chicago after Turkey and Philippines sought cargoes of the grain due to declining global supplies. Rice for May delivery increased by 3.3 percent or 75 cents, to $23.30 per 100 pound...

Pfizer Inc. world's largest drug maker reported on Thursday its profit in the first quarter slumped 18 percent as generic competition slashed sales of drugs.The company's revenue fell to ...

A clinical study shows antidepressant Prozac could be used to heal other conditions caused by brain cell dysfunction such as the lazy-eye.In the study, Prozac returned old brain cells to a more p...

Southwest Airlines Co. did better than most other airlines in the first quarter, as increased revenue and fuel hedging allowed it to beat earnings expectations and post a $34 million, or 5 cents a sh...

Crude declined slightly on Thursday after reaching an all time record high on a report that U.S. crude and gasoline inventories fell.Crude inventories dropped more than expected last week by 2.36 m...

Pfizer Inc., the world's largest drug maker, reported on Thursday that its profit in the first quarter slumped 18 percent as generic competition slashed sales of drugs.Its net income declined ...

Samsung Group Chairman was indicted of tax evasion and breach of trust on Thursday, but was cleared of a bribery charge, after a three month probe into allegations of corruption at South Korea's...

Social network portal MySpace, a unit of Rupert Murdoch's News Corp., launched its India-dedicated Web site on Thursday, named MySpace India, expanding its presence into 29 global regions.MySp...

Microsoft Corp. has yet to convince Yahoo Inc. to agree to a friendly takeover, but the software company is already hiring lobbyists to help it convince regulators to let the deal hostile if it has t...

MGIC Investment Corp., the largest U.S. mortgage insurer, reported a smaller than expected first quarter loss, sending its shares up more than 20 percent.MGIC lost $34.4 million, or 41 cents per sh...

Nokia, the world's largest maker of mobile phones, on Thursday released its first quarter results with a 25 percent increase in earnings, boosted by new demand from emerging markets, but less be...

Gold futures fell in New York on Thursday as the dollar rallied against the euro. Other precious metals were mixed with platinum and palladium ending lower, while silver gained.Gold for June delive...

Since Wednesday, April 9, natural gas spot prices increased at virtually all market locations in the Lower 48 States. Currently, spot prices exceed the average spot prices of the 2007-2008 heating s...

United Auto Workers walked off the job at General Motors Corp.'s Delta Township plant at 10 a.m. on Thursday after a deadline passed with no deal on a local contract.Around 2,300 union employ...

The dollar fell against the Euro yesterday as a sharp fall in housing starts reinforced expectations that U.S. interest rates would be cut again.The dollar...

Sterling recovered against the broadly weak dollar after a sharp fall in housing starts. Sterling recovered against t...

Freddie Mac has agreed to make 90-day commitments to several large banks on the pricing of conforming jumbo loans, according to a report.The government-sponsored home loan lender will offer the d...