IBT Staff Reporter

An orbiting satellite, conducting a joint experiment of NASA and Stanford University, has shown that the Earth's gravity warps the space around it and that it drags spacetime itself along as it spins -- proving that a fundamental part of Relativity theory is correct.

Digital technology company Yudu launched a service on Thursday to help magazine publishers evade the 30 percent commission that Apple charges to deliver content to iPhones and iPads through its App Store.

Hollywood paid tribute to a timeless, beautiful actress: Sophia Loren. Hollywood stars came out to honor her 50 years after she became the first person to win an acting Oscar for a foreign-language role with the Italian movie Two Women.

U.S. stocks fell for the fourth straight session on Thursday as weak labor data rekindled worries about consumer demand and the strength of the economic recovery.

U.S. retailers warned of rising costs and cautious consumers even as a late Easter boosted sales of clothing and other holiday-related items in April, helping many beat sales expectations.

Brent crude fell by more than $4 to near $117 a barrel on Thursday as fund managers and traders pulled money from across commodities markets on concerns about interest rate rises and demand destruction.

President Barack Obama is not expected to make any public statements when he visits Ground Zero in New York on Thursday, just days after the announcement of the death of Osama Bin Laden after U.S. forces killed him in Pakistan.

Portugal's caretaker government signed up to a 78 billion euro EU/IMF bailout on Thursday, warning its terms would push it into recession this year and next.

Swiss commodity trader Glencore has lined up buyers for all of the shares in its planned $11 billion mega-float only a day into the sale process, two sources close to the deal said.

In the hours and days after last year's flash crash, it seemed like Wall Street's high-tech marketplace was in for big changes.

Commodity prices fell once again, and Silver Bullion sank for the fourth day in succession, losing 22.5% against the Dollar since Thursday last week - the sharpest plunge since April 1987.

After his side's comfortable passage into the Champions League final, which set up an enthralling finale against Barcelona, Manchester United manager Sir Alex Ferguson said the Catalans' reputation didn't scare his side.

New U.S. claims for unemployment aid unexpectedly rose last week to touch their highest level in eight months, pushed up by factors ranging from spring break layoffs to the introduction of an emergency benefits program, a government report showed on Thursday.

General Motors Co's quarterly profit more than tripled, beating expectations, driven by a recovery in the U.S. market and strong sales in Asia.

It was a good day for the top four men in world tennis as Rafael Nadal, Novak Dkjokovic, Roger Federer and Andy Murray all won their second round matches at the Madrid Open.

U.S. stock index futures edged lower on Thursday as commodities lost ground on worries about less demand after recent tepid economic data and ahead of Friday's key payrolls report.

Lloyds took a 3.2 billion pound ($5.3 billion) charge on Thursday to compensate consumers who were over-charged on insurance policies, and Ireland's economic woes heaped further pain on the British bank.

Portugal's two key opposition parties signaled after meeting European and IMF officials that they will back a 78-billion-euro bailout that is expected to consign the economy to two years of recession.

Spain drew healthy demand for its five-year debt Thursday, with an only modest rise in yields encouraging hopes it can ride out the threat of contagion from a euro zone debt meltdown that has swallowed neighboring Portugal.

The European Central Bank kept euro zone interest rates on hold as expected on Thursday leaving markets focused on whether Jean-Claude Trichet will flag a June hike by declaring the bank is in a state of strong vigilance.

U.S. retailers showed strong sales gains in April as the late Easter spurred sales of candy and clothes, and inflation lifted prices of groceries and gasoline.

Swiss commodity trader Glencore's planned $11 billion listing was fully covered on the first day as investors rushed to take part in the mega-float, two sources close to the deal said on Thursday.

Sony has been hit with a class action suit in Canada, seeking 1 billion Canadian dollars ($1.04 billion) in damages, in the wake of the security breaches of the PlayStation Network and Sony Online Entertainment.

Adidas said soaring demand from the United States, China and Russia for its sneakers would offset a profit hit from the Japan earthquake, allowing it to raise its sales outlook for the second time this year.

Stock index futures pointed to a slightly higher open on Wall Street on Thursday, halting a three-session retreat, with futures for the S&P 500 up 0.04 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures up 0.1 percent at 0910 GMT.

Axa on Thursday said it was confident it would raise profits this year in spite of a drop in first-quarter sales as Europe's second-biggest insurer implements a strategy shift focused on improving margins.

British bank Lloyds said it will take a 3.2 billion pound ($5.3 billion) provision to cover it for losses from the mis-selling of protection insurance and suffered another 1.1 billion hit in Ireland.

The world's biggest spirits makers Diageo and Pernod Ricard beat forecasts on Thursday with strong sales growth in the first three months of 2011 as buoyant emerging market growth offset a weak Europe.

Factories manufacturing Apple iPads and iPhones in China are forcing staff to sign pledges not to commit suicide, according to an investigation, the Daily Mail reported.