IBT Staff Reporter

World stocks hit a fresh one-year low on Thursday and investors poured money into safer currencies and government bonds after the Federal Reserve gave a grim outlook for the U.S. economy and China's manufacturing slowed.

World stocks hit a fresh one-year low on Thursday and investors poured money into safer currencies and government bonds after the Federal Reserve gave a grim outlook for the U.S. economy and China's manufacturing slowed.

Stocks tumbled and the dollar surged on Thursday after a warning from the Federal Reserve that the United States faced a grim economic outlook with significant downside risks and data offered more evidence of a slowdown in China.

Shares of Softbank Corp <9984.T>, Japan's third-largest mobile carrier, tumbled more than 10 percent on Thursday after a report said the company was set to lose its position as the sole vendor of Apple's iPhone in Japan.

FedEx Corp is seen reporting higher quarterly results than a year ago on Thursday, but analysts are more keen to see if the No. 2 package delivery company cuts its full-year guidance because stalled global economic growth has stifled volume.

Stocks tumbled and the dollar surged on Thursday after a warning from the Federal Reserve that the United States faced a grim economic outlook with significant downside risks and further evidence of a slowdown in China.

Singing superstar Lada Gaga has utilized her following on Twitter to advocate for laws banning bullying after the suicide of Jamey Rodemeyer.

Troy Davis addressed the family of Mark MacPhail as he was put to death for killing the policeman in 1989.

Nikon unveiled its first lightweight mirrorless interchangeable lens cameras on Wednesday, saying the two new models would go on sale in October and that it expects them to be priced around 70,000 yen ($915)and 105,000 yen.

Lal Krishna Advani, the 83-year-old veteran of opposition Bharatiya Janata Party (BJP), said on Wednesday he did not want to run for prime minister again in elections due by 2014, a move that frees up younger candidates to challenge the government.

Rescue workers with sensors and sniffer dogs searched through rubble on Wednesday for more survivors of an earthquake that has killed at least 100 people in a remote Himalayan region and left many, including 400 foreigners, stranded in far-flung areas.

Outsourcing leader Tata Consultancy Services (TCS) sees opportunity as corporate customers embrace new technology, although a poor economy means that overall spending in the United States and Europe will stay weak.

The United Auto Workers has turned its focus in contract negotiations to Ford Motor Co , an abrupt shift in negotiating strategy after talks stalled with Chrysler.

Singing superstar Lada Gaga has utilized her following on Twitter to advocate for laws banning bullying after the suicide of Jamey Rodemeyer.

The Federal Reserve on Wednesday warned of significant risks to the already weak U.S. economy and launched a new plan to lower long-term borrowing costs and bolster the battered housing market.

Asian stocks tumbled on Thursday, following a slide on Wall Street, as investors took fright at a warning by the Federal Reserve that the United States faced a grim economic outlook with significant downside risks.

SABMiller's $10 billion bid for Australian brewer Foster's Group looks set for success as key shareholders backed the sweetened deal on Thursday with only an outside chance of a rival offer now posing a threat.

United Technologies Corp has reached a $16.5 billion cash deal to acquire aircraft components maker Goodrich Corp , in what would be the diversified U.S. manufacturer's biggest deal in a decade.

A meeting of emerging economies on Thursday will consider a Brazilian proposal to buy European bonds to help crisis-hit euro zone countries, South Africa's Finance Minister Pravin Gordhan said on Wednesday.

Some canned foods marketed for children are found to contain estrogen-like chemical, Bisphenol A(BPA), according to a new report. A study by non-profit group, Breast Cancer Fund, found that 12 canned soups and pastas popular among children contained BPA, sparking off concern over the health effects of the chemical.

UBS CEO Oswald Gruebel will stress to the board of directors that he wants the investment bank to remain part of Swiss bank's integrated banking model in meetings on Thursday and Friday, sources said, after rogue trading cost the bank $2.3 billion.

U.S. regulators on Wednesday charged a former Goldman Sachs employee and his father with insider trading on confidential information about Goldman's exchange-traded fund strategy.

Two people who lost their insider trading trials earlier this year were sentenced on Wednesday to 10 and four years in prison, as the government continues its crack down on illegal trades.

UBS CEO Oswald Gruebel will stress to the board of directors that he wants the investment bank to remain part of Swiss bank's "integrated banking model" in meetings on Thursday and Friday, sources said, after rogue trading cost the bank $2.3 billion.

Facebook games maker Zynga said its profit and revenue fell in the June quarter, as the company did not release any new Facebook games in the period, according to a regulatory filing on Wednesday.

The state of Georgia executed Troy Davis Wednesday night after the U.S. Supreme Court rejected a last-minute appeal for a stay.

Young adults are gaining health insurance faster than ever, mostly due to the Patient Protection and Affordable Care Act.

The United Auto Workers has turned its focus in contract negotiations to Ford Motor Co after progress in talks with smaller rival Chrysler appeared to stall, two people with knowledge of the discussions said on Wednesday.

A Mexican man and woman jailed for sending online messages that mistakenly warned an elementary school was under attack were freed on Wednesday, an attorney for the pair said.