IBT Staff Reporter

Apple Inc Chief Executive Steve Jobs was asked by U.S. securities regulators to give a deposition in a lawsuit against the company's former general counsel involving stock options backdating, Bloomberg reported, citing two people familiar with the matter.

Sony Corp said on Thursday it would postpone the launch of the Home virtual community service for its PlayStation 3 game console to early next year, the latest setback in its videogame battle with Microsoft Corp and Nintendo Co Ltd.

Bear Stearns Cos Inc said on Thursday quarterly profit plunged 61 percent to its lowest level in five years on bad bets on subprime mortgages and disrupted fixed-income trading.

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Goldman Sachs Group Inc said on Thursday that quarterly profit surged 79 percent, blowing away expectations of weak results, as the investment bank generated its second-highest revenue ever despite turbulent summer markets.

Federal Reserve Chairman Ben Bernanke warned Congress on Thursday that raising the ceiling on the size of loans that mortgage finance enterprises Fannie Mae and Freddie Mac can buy could undermine market discipline.

Benchmark stock indexes looked likely to open lower on Thursday, index futures showed, and analysts said earnings from two top banks and remarks by Fed Chairman Ben Bernanke would be in focus.

U.S. Treasury Secretary Henry Paulson will meet with Canadian Finance Minister Jim Flaherty near Ottawa on Friday, when they will announce changes to the Canada-U.S. Tax Treaty, Ottawa said on Wednesday.

The U.S. House of Representatives approved a bill on Wednesday that aims to strengthen government oversight of dangerous side effects from prescription drugs.

Europe's biggest bank HSBC Holdings has rejected calls from activist investor Knight Vinke Asset Management for it to review its strategy and shake up its corporate governance, the Financial Times reported.

Bahrain has received bids from U.S. firm Occidental and Russian state-owned Zarubezhneft to explore for oil in the kingdom's waters, the Gulf Daily News reported on Thursday.

Japanese electronics maker Sharp will buy about $357 million worth of new shares from Pioneer Corp and work with its loss-making rival in developing DVD players, car electronics and displays.

The dollar sank to a 15-year low against major currencies on Thursday while the euro rose above $1.40 for the first time as the impact of the U.S. Federal Reserve's interest rate cut continued to sweep across markets.

Shares in Northern Rock took a fresh hit on Thursday, tumbling over 20 percent on renewed concerns over its future, and as the government said its guarantees would not cover new accounts.

Nokia, the world's top cellphone maker, unveiled on Thursday its new phone model 6301, which features unlicensed mobile access (UMA) technology.

Sony Corp's game unit said it was fairly confident of doubling shipments of PlayStation 3 game consoles to 11 million in the year to March, and may buy more software firms to boost demand for its console.

Nasdaq and Borse Dubai joined forces on Thursday with a deal to buy Nordic markets operator OMX and create a global financial marketplace which will see Borse Dubai taking key stakes in London Stock Exchange and Nasdaq.

The Federal Reserve came to the aid of U.S. banks on Tuesday when it cut rates in a move that should improve their lending margins and give them breathing space to deal with the fallout from the subprime mortgage crisis.

British drinks giant Diageo Plc is very interested in buying Sweden's Absolut vodka valued at $6 billion and Chief Executive Paul Walsh says he can see solutions to any possible anti-trust problems arising.

Gold firmed on Thursday and held within sight of its 16-month high of $726 an ounce, but the metal was seen trading in a tight range before challenging its highest level in nearly three decades.

The dollar sank to fresh record lows beyond $1.40 per euro on Thursday, weighed down by a hefty U.S. interest rate cut earlier this week and expectations of more moves to come.

Oil hovered above $82 a barrel on Thursday as sinking U.S. crude inventories and the threat of a storm gathering near Florida increased worries of a winter supply crunch in the world's top consumer.

Senate Republicans blocked a plan on Wednesday to give U.S. troops in Iraq more home leave, defeating a proposal widely seen as the Democrats' best near-term chance to change President George W. Bush's Iraq strategy.

China Yangtze Power Co Ltd will issue the nation’s first corporate bond tomorrow, the China Securities News (CSN) reported today.

KDDI Corp., Japan’s second biggest telecommunications operator, announced on Tuesday that it would inject capital into a WiMAX wireless broadband project, teaming up with local partners and Intel Corp.

Apple Inc .will double its iPhone production to nearly double its iPhone production in the fourth quarter, financial news Web site TheStreet.com reported, citing people familiar with the company.

New Zealand's dollar rose to its highest level versus the dollar and yen in nearly a month following a drop in U.S. interest rates prompted a comeback for investments such as the carry trade.

The dollar was higher against most currencies during Wednesday U.S. trading, up from the lows seen yesterday.

Treasuries slid for the third day Wednesday amid expectations that inflation will continue to increase after the U.S. Federal Reserve’s move to lower interest rates.