UNITED STATES

The U.S. economy grew at an annual rate of 4 percent in the second quarter, as strong business investment led the fastest pace of expansion since early last year, the government reported on Thursday. However, the rebound in growth is not likely to be sustained. Policy makers and analysts may scale back estimates for U.S. growth in the coming quarters due to disruptions in the financial markets worldwide from rising defaults in subprime mortgages.

Consumer electronics maker Sony Corp. on Thursday said it introduced a new U.S. version of its Sony Walkman that includes the ability to play digital video, the latest potential rival to Apple Inc.'s dominant iPod media player.

Robust business investment helped push U.S. second-quarter growth ahead at an upwardly revised 4 percent annual rate, the government reported on Thursday, the fastest pace since early last year but one that is unlikely to be sustained.

The head of Toyota Motor Corp, the world's biggest automaker, said on Thursday he expects further cooperation between truck affiliates Isuzu Motors Ltd and Hino Motors Ltd to better compete in global markets.

Chip giant Intel Corp. is optimistic amid steady PC demand and a rollout of new products

Heightened investor expectations of a U.S. rate cut next month soothed financial market volatility on Thursday as a Bank of Japan policymaker said some of the turbulence had been overdone.

An Australian hedge fund felled by its exposure to risky credit derivatives filed for bankruptcy protection in the United States, and liquidators on Thursday were assessing how much money, if any, would be returned to investors.

Japan's Nikkei average rose 0.9 percent on Thursday as higher oil prices pushed up energy stocks and trading firms, while TDK Corp gained on its plan to buy Thai-based Magnecomp Precision Technology.

U.S. stock index futures fell on Thursday, pointing to a weaker open a day after stocks rallied, as investors grappled with mixed signals on whether the Federal Reserve would soon cut rates.

The yen rose broadly on Thursday, recovering from the previous day's sharp drop, and high yielding currencies fell as the spotlight swung back to troubled credit markets with investors cautious about risky carry trades.

Oil was steady above $73 on Thursday after spiking two percent the previous day on an unexpectedly large drop in crude and gasoline stocks in top consumer the United States.

California produce grower Metz Fresh LLC said on Wednesday it voluntarily recalled fresh spinach in grocery stores and food service packages after a sample tested positive for salmonella.

Yahoo Inc.'s top sales executive is leaving the company in the latest reorganization by President Susan Decker that merges sales into a broader division seeking new partnership deals such as ones it has struck with eBay, Comcast and newspaper publishers. Gregory Coleman, the company's executive vice president of global sales, is leaving Yahoo to pursue other opportunities Decker said in a memo sent to employees late on Wednesday.

Concerns about creditworthiness in the U.S. mortgage market have helped to push up rates on so called jumbo mortgages, and rates on adjustable-rate mortgages saw a record rise this week.

U.S. meat company Smithfield Foods Inc.'s once ravenous appetite for growth may be abating as the company may now focus on paying down debt, according to comments made on Wednesday by its chief executive.

U.S. stocks rebounded on Wednesday, pushing the Nasdaq to its best day in more than a year, as investors snapped up beaten down technology shares, while the energy sector benefited from a surge in oil prices. Also, a letter from Federal Reserve Chairman Ben Bernanke saying the Fed was prepared to act to stabilize the credit market added to investor hopes for a an interest rate cut.

American Airlines, the world's largest carrier, is pinning its hopes for growth in the New York market to a $1.3 billion terminal, unveiled on Wednesday, that could net 50 percent more passengers at John F. Kennedy International Airport.

The yen dropped against the euro and dollar on Wednesday as investors took recovering U.S. stock markets as a cue to slash short-term bets that the Japanese currency would strengthen.

Hollywood star Angelina Jolie on Tuesday traveled to Iraq and appealed for more international support for the millions of people uprooted by war and violence.

Venice's film festival is celebrating 30 films of a quintessentially American genre made by Italian directors.

Malaysia's biggest listed firm, Malayan Banking, posted a better-than-expected 28 percent rise in fourth-quarter profit on Wednesday, helped by growth in net interest, insurance and credit card income.