IBT Staff Reporter

A U.S. law meant to snuff out billions of dollars in offshore tax evasion has drawn the criticism of the world's banks and business people, who dismiss it as imperialist and the neutron bomb of the global financial system.

Rising fears of another recession hammered U.S. stocks on Thursday, sending major averages sharply lower in a return to the extreme fluctuations investors endured a week ago.

Hewlett-Packard Co may spin off the world's largest PC business, part of a wrenching series of moves away from the consumer market, including killing its new tablet and buying British software company Autonomy Corp for as much as $11.7 billion.

New U.S. claims for unemployment benefits rose more than expected last week, according to a government report released Thursday that suggested hiring in August was steady but not robust.

Facebook finally has a serious competitor. At least, that's what social-media investor Sergio Monsalve thinks.

The United States and European Union called on Syrian President Bashar al-Assad to step down Thursday, and U.S. President Barack Obama accused him of torturing and slaughtering his own people in what U.N. officials said could be crimes against humanity.

India's centuries-old gold industry is the world's biggest market for the metal, with imports meeting almost all the country's 800-900 tonnes per year requirements for jewellery and investment.

Hewlett-Packard Co may spin off the world's largest PC business, part of a wrenching series of moves away from the consumer market, including killing its new tablet and buying British software company Autonomy Corp for as much as $11.7 billion.

Asian stocks tumbled as much as 4 percent on Friday on growing fears that the U.S. economy was sliding into recession and as some European lenders faced short-term funding strains, raising fears of a systemic banking crisis on the continent.

AT&T just made yet another change to its plans. And once again, it's going to make them money.

Web-based software maker Salesforce.com Inc raised its full-year revenue outlook, fueling hopes that cloud computing companies can avoid getting caught up in a possible slowdown in tech spending.

The ink on Google Inc's $12.5 billion plan to buy Motorola Mobility is barely dry, but speculation has already begun about its next deal -- expected by some to be the sale of Motorola's handset business.

The U.S. Justice Department is investigating the rating agency Standard & Poor's over its actions on mortgages leading up to the financial crisis, a source familiar with the matter said on Thursday.

The United States needs to reform its corporate tax code and should consider eliminating all loopholes that allow companies to pay less than the statutory rate, General Electric Co 's chief said.

News Corp's senior management is starting to think about what the company might do if James Murdoch stepped aside, sources inside and close to the global media empire said.

Caution is the watchword for apparel executives heading into the all-important holiday season and their lack of confidence is scaring investors.

Bailed-out insurer American International Group said on Thursday it closed the sale of its Taiwanese life insurance business and used the proceeds to repay the government another $2.15 billion.

Factory activity in the U.S. Mid-Atlantic region plunged to a nearly 2-1/2 year low in August and home resales unexpectedly dropped last month, stoking concerns that risks of recession are growing.

Hewlett-Packard Co wants to buy Autonomy Corp for $10.3 billion and is pondering a spinoff of its personal computing arm, setting in motion a transformation that mirrors IBM's successful overhaul last decade.

Bailed-out insurer American International Group said on Thursday it closed the sale of its Taiwanese life insurance business and used the proceeds to repay the government another $2.15 billion.

Hewlett-Packard said on Thursday it is considering a sale or spinoff of its personal computer unit, will halt production of its webOS devices such as the TouchPad, and agreed to buy British software firm Autonomy Corp for $10.2 billion.

The U.S. Justice Department is investigating the rating agency Standard & Poor's over its actions on mortgages leading up to the financial crisis, a source familiar with the matter said on Thursday.

AT&T has confirmed Thursday that it will kill $10 texting plan, which will force customers into all-or-nothing texting options, between an unlimited plan and a pay-per-text plan.

Wednesday night, Anderson Cooper could not help a giggling mess over his own puns and jokes over French actor Gerard Depardieu's incontinence on a plane.

Hewlett-Packard said on Thursday it is considering a sale or spinoff of its personal computer unit, will halt production of its webOS devices such as the TouchPad, and is in talks to acquire British software firm Autonomy Corp.

NASA has teamed up with researchers from the University of California and various space agencies to map the Antarctica ice flow.

The Federal Reserve Bank is treating foreign banks the same as their U.S. peers, a top policymaker said on Thursday, contrary to a published report that said the U.S. central bank was keeping a closer eye on European banks struggling with the continent's debt crisis.

The Georgetown basketball team got in a brawl with a professional Chinese basketball team.

As many of the rituals associated in Japanese Sumo wrestling originate from Shinto, the indigenous Japanese form of spirituality, it is regarded as a symbol of Japanese culture. After the March 11 deadly earthquake, Japanese citizens who lost their homes and had to stay in shelters have been returning back to their hometowns and it includes the Sumo wrestlers.