IBT Staff Reporter

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Asia stocks set for biggest weekly rise in 3 months

Asian stocks were poised for their best weekly gains in three months as market players hunted for bargains while the euro perked up after the European Central Bank signaled a rate hike as early as next month.

Jobs seen at 9-month high in February

Employers probably hired more workers in February than in any month since May last year, recovering from extreme winter weather and raising hopes the economic recovery has gathered critical momentum.

Exclusive: Chrysler refinancing talks advance: sources

Chrysler Group LLC is in advanced discussions with banks on refinancing about $7 billion in government debt and establishing a credit facility in a process that would help clear the way for its initial public offering later this year.

Judge to approve plan that pays GM creditors

A federal judge said on Thursday he would approve the bankruptcy plan for Old GM, wrapping up one of the most complex Chapter 11 cases in U.S. history and paving the way for a distribution of General Motors stock and warrants to creditors.

Nintendo has high hopes for 3DS

Nintendo Co Ltd said it has set ambitious goals for its newest handheld gaming system despite growing competition from smartphones like Apple's iPhone.

Wal-Mart hikes dividend 20.6 percent

Wal-Mart Stores Inc said it is increasing its annual dividend nearly 21 percent, citing its ability to generate cash in a fiscal year that disappointed investors with weak U.S. sales.

Marvell quarterly results below estimates

Chipmaker Marvell Technology Group posted worse-than-expected fourth-quarter results as investors worried soft personal computer sales could hit its hard-drive controller business.

CORRECTED: Doximity gains fans ahead of official launch

Corrects symbol of Apple Inc.NEW YORK - Days ahead of its official launch, Doximity -- a LinkedIn-style application for healthcare professionals -- already has the backing of the venture capital community and thousands of U.S. doctors.

IAC loses appeal over ex-unit that went bankrupt

IAC/InterActiveCorp , a media holding company chaired by billionaire Barry Diller, lost its bid to dismiss a lawsuit accusing it of deceiving a private equity firm into buying a call center operator that quickly went bankrupt.

Geithner plays down oil supply risks

Rich nations could tap strategic oil reserves if needed to ward off the risk that Middle East political unrest triggers an inflationary price spiral, Treasury Secretary Timothy Geithner said on Thursday.

Geithner: Can tap oil reserves if needed

The United States and other major economies can tap strategic oil reserves if need be to keep soaring oil prices from derailing a global recovery, Treasury Secretary Timothy Geithner said Thursday.

Swift deal needed in Mets Madoff dispute: mediator

Mediation would not go on endlessly if no deal were reached between the owners of the New York Mets baseball team and the Madoff trustee in their $1 billion dispute, mediator Mario Cuomo said on Thursday.

Gross urges slow pace of deficit cuts

Bill Gross, co-chief investment officer of PIMCO, the world's biggest bond fund manager, on Thursday urged lawmakers to cut the massive federal deficit but not so swiftly as to choke off the nascent U.S. economic recovery.

Data points to strengthening growth, jobs

The number of Americans filing new claims for jobless aid hit the lowest level in more than 2-1/2 years last week and service sector hiring picked up in February, signs the labor market recovery was quickening.

Sears latest store chain to woo Amazon affiliates

Sears Holdings Corp sent an open letter on Thursday to independent Web operators affiliated with online retailer Amazon.com inviting them to join its network, becoming the second major U.S. store chain to go after key partners of the Web retailer in recent weeks.

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