IBT Staff Reporter

Oil and gas stocks fell on Thursday as crude oil prices moved closer $92 a barrel.

European stocks closed higher on Thursday, recovering from a three-session losing streak due on strong Oracle results that pushed technology shares higher as energy stocks rose along with oil prices.

The yen rose on Thursday after a sign that the U.S. economy is still facing more trouble from the subprime mortgage market mess as financial firms continued to report high exposure and losses.

The dollar continued to firm against the sterling following weak UK economic data, rising to its highest level in 4-months at 1.9813. However, the greenback was slightly softer against the yen and euro following the weak Philadelphia Fed survey.

The gap between the best and worst child trust fund (CTF) deals has widened, research shows. Average interest rates on cash CTFs have risen by 1.19 percent in the past year to 6.34 percent, according to price comparison site MoneyExpert.com.

US Stocks dropped in late morning trading, in spite of higher than expected earnings results from Oracle Corp. and Nike Inc.

Nations are making deals with top exporters to to get enough oil and develop new projects to boost economic growth.

Bear Stearns Cos Inc posted a much bigger-than-expected quarterly loss on Thursday, capping a fiscal year when the fifth-largest U.S. investment bank took a beating on bad bets on risky subprime mortgages. It was the first loss in the company's history, and the bank decided top executives would not receive bonuses.

Google Inc's planned takeover of rival DoubleClick for $3.1 billion would harm European citizens through greater intrusion of privacy, the EU's top consumer lobby BEUC said on Thursday.

More television viewers are turning to the Internet to watch videos, films and TV episodes, according to a new survey.

British motorists caught talking on a hand-held mobile phone or sending a text while driving could be jailed under guidelines due to be published on Thursday.

Internet company Yahoo and Latin America's top mobile phone company America Movil said on Thursday they have struck a deal to provide mobile Web services to 16 countries in Latin America and the Caribbean.

China raised its benchmark interest rates on Thursday for the sixth time this year, in the latest in a series of tightening steps to contain inflation and prevent the world's fourth-largest economy from overheating. However, it also lowered the rate for sight deposits, in a move to encourage savers to keep their cash locked up for longer periods.

Nike Inc, reported Wednesday that its second quarter net income grew 10 percent, gained on international sales growth and athletic footwear.

Matsushita Electric Industrial Co and Hitachi Ltd are discussing multi-billion dollar deals on flat panels that could reshape an industry hit by fierce competition, a source familiar with the matter said.

Oil prices rallied on Wednesday as a slump in U.S. crude oil stockpiles to their lowest level in nearly three years rekindled worries of a winter supply crunch.

Three British residents held at the Guantanamo Bay prison camp for suspected terrorists arrived in Britain on Wednesday after more than four years in captivity and two were promptly arrested, police said.

Three workers died and five were injured on Wednesday following an explosion at a chemical plant in Jacksonville, Florida.

South Africa faced deep uncertainty on Wednesday after the greatest political shake-up since the end of apartheid set populist Jacob Zuma on the road to leadership of the country.

Oracle Corp posted a 35 percent rise in quarterly profit on strong new software sales, beating expectations at a time when investors are wary that growth in technology spending may be slowing.

Mac users are more likely than PC users to purchase music online, according to a new study, adding to a cultural divide between the two camps.A new survey by market researcher, NPD, shows that 50% of all owners of Apple's Mac computer's paid to download music, while just 16% of Microsoft Windows based computer owners did so in the third quarter of this year. Those same Mac user...

Mozilla on Wednesday unveiled the second beta version of Firefox 3.0 with enhanced security features and performance capabilities.

Oracle, the world’s largest maker of database software posted a 35 percent rise in net income for second quarter on Wednesday, bolstered by stronger demand on new software licenses.

Hong Kong stocks on Wednesday rose again as investors made more gains with oil producer PetroChina Co Ltd ending a five session fall.

Microsoft Corporation, Google Inc., and Yahoo! pay fines amounted $31.5 million with the U.S to resolve claims on their past promotion of illegal gambling, United States attorney said Wednesday.

U.S stocks on Wednesday dropped after Standard & Poor cut its outlook on two companies that insure more than $1 trillion of debt.

Inflation causes ECB to move interest rates if necessary The European Central Bank is worried about inflation in the eurozone and ready 'to do whatever necessary' to avoid second-round effects, said ECB on Wednesday.

Viacom announced a 5 year alliance with the world's largest software company on Wednesday, giving the content created significant online reach.

he dollar’s year end recovery extended into Wednesday trading, pushing the British pound beneath the psychologically key 2-level for the first time since mid-September. With no economic reports released from the US today, traders