IBT Staff Reporter

Libya's interim rulers said on Thursday they had further consolidated their control over Sahara desert towns that had been among Muammar Gaddafi's last strongholds, and said Gaddafi himself was running out of places to hide.

South Africa's rand briefly hit a new 26-month low against the dollar on Thursday, and bonds trimmed losses, after a central bank statement was largely viewed as dovish but the currency stabilised in late trade after two days of hefty losses.

South Africa's Reserve Bank left its repo rate unchanged on Thursday and struck a dovish note as it balanced its concerns for domestic economic growth with an expected increase in inflation stemming from a sharply weaker rand.

Hewlett-Packard Co is on the verge of naming former eBay Chief Executive Meg Whitman its new CEO, replacing Leo Apotheker at the helm of the largest U.S. technology company, two sources told Reuters on Thursday.

A global banking crisis will erupt unless Europe properly deals with Greece's debt problems, Finance Minister Jim Flaherty said on Wednesday, notably hardening his criticism of European authorities.

United Technologies Corp's <UTX.N> Louis Chenevert placed the biggest bet of his tenure as chief executive with a $16.5 billion cash deal for aircraft components maker Goodrich Corp <GR.N>.

Stocks skidded 3 percent on Thursday, extending losses for a fourth day as a gloomy outlook from the Federal Reserve and weak data from China heightened fears of a global recession.

Drug regulators have granted approval to Advanced Cell Technology to conduct the first trial in Europe of human embryonic stem cells - testing the cells in people with a progressive form of blindness, a U.S. firm said on Thursday.

AT&T Inc, Deutsche Telekom AG and T-Mobile USA have amassed an army of former senior government antitrust officials to try to save their $39 billion deal to combine wireless businesses.

While UBS CEO Oswald Gruebel battled to keep the Swiss bank's investment arm and save his job, the trader accused of unauthorized deals that lost the bank $2.3 billion said he was sorry beyond words.

Americans filed fewer new claims for jobless benefits last week but the decline was not enough to dispel worries the economy was dangerously close to falling into a new recession.

World stocks and commodities tumbled on Thursday as weak data from China crystallized investor fears about a global recession one day after a grim economic outlook from the U.S. Federal Reserve.

A $2.3 billion investment fund managed by bond giant Pacific Investment Management Co that is largely targeting distressed U.S. banks is trying to get regulatory approval for one of its first major transactions -- a deal involving a North Carolina community bank.

A grim outlook for the U.S. economy from the Federal Reserve and signs of a slowing in China and Germany sent world stocks tumbling on Thursday and drove investors into safer currencies and government bonds.

FOX tried to get its talent on board to promote The X Factor, but it apparently didn't work as well as the network would have liked.

Treasury Secretary Timothy Geithner said on Thursday that the European debt crisis and the political divisions in the United States were the biggest threats to the global economy.

James Cameron and Disney have partnered up to bring fans into world of “Avatar” at Walt Disney World.

Diversified manufacturer Honeywell International Inc said on Thursday its third-quarter earnings will likely be at the high end of its forecasted range of 96 cents per share to $1.01 per share.

Zambia's opposition leader Michael Sata held on to his lead over incumbent Rupiah Banda, the election commission said, as counting moved beyond a halfway point on Thursday in the race to become the next president of Africa's biggest copper producer.

A multi-state outbreak of food-borne bacteria, listeria, that arose in early September took another life in Maryland after a person died from eating contaminated produce, leaving the death toll at eight.

Giant Interactive Group Inc said it will invest $50 million in China's e-commerce company Alibaba Group through an investment in Yunfeng e-Commerce Funds.

Jamey Rodemeyer, 14 years old from Buffalo, NY, committed suicide last weekend because of gay bullying. Rodemeyer was a big fan of Lady Gaga, as seen from the last Twitter message of his life.

Oil prices fell by more than $4 a barrel on Thursday, with U.S. futures touching $81.86 barrel as a combination of signals heightened worries about global economic growth and a rallying U.S. dollar added to downward momentum.

If the board of Hewlett-Packard Co is not already ranked as one of the worst in corporate America, there are some who think it could be a contender.

It was always going to be a thriller at Mestalla when Barcelona arrived, and so it proved as the Catalans were made to equalize on two occasions to claim a draw against league leaders Valencia.

Youths went on the rampage on Thursday in northern Zambia's Copper Belt, a stronghold of opposition leader Michael Sata who is leading the race to become the next president of Africa's biggest copper producer.

UBS trader Kweku Adoboli faced a new fraud charge when he made a brief court appearance in London on Thursday for a hearing over alleged unauthorized trading which the Swiss bank has said cost it $2.3 billion.

Hewlett-Packard Co's board convened on Wednesday to consider ousting Chief Executive Officer Leo Apotheker after less than a year on the job and replacing him temporarily with former eBay CEO Meg Whitman, a source familiar with the matter said.

AT&T Inc Chief Executive Officer Randall Stephenson said that his 2012 outlook for the U.S. economy looks similar to 2011 as he does not see a big recovery any time soon.