IBT Staff Reporter

Futures brokerage MF Global Holdings has lost eight brokers from its nine-man London fuel oil swaps desk, two industry sources said on Thursday.

Online retailer Amazon.com Inc said on Thursday it will exclusively publish digital editions of 20 classic books owned by the Wylie Agency, including authors such as Philip Roth, John Updike and Norman Mailer, for the first time on its Kindle electronic reader.

Cigarette makers Philip Morris International Inc and Reynolds American Inc posted higher-than-expected quarterly profits and raised their 2010 earnings forecast, showing the strength of the tobacco business even in a weak global economy.

Diversified U.S. manufacturer 3M Co reported earnings that beat Wall Street's expectations and raised its forecast for the year, boosted by strong demand in key emerging markets.

The recent decision of KP scheme to partially allow Zimbabwe to sell its diamonds has come as a respite for Surat, the biggest diamond processing centre in the world. In fact, now diamantaires in Surat can officially import rough diamonds from the troubled Marange diamond mines in Zimbabwe with the Kimberley Process allowing supervised exports of diamonds from Zimbabwe.

JetBlue Airways boosted quarterly profitability and beat Wall Street expectations on record revenues and expressed optimism on Thursday for the rest of the year.

Diversified U.S. manufacturer 3M Co reported a 43.2 percent rise in profit, topping analysts' expectations, boosted by strong demand in key emerging markets.

U.S. regional banks reported improved results on Thursday as credit woes began to ease, but they cautioned that loan demand is still soft among their so-called Main Street borrowers.

Xerox Corp posted a higher-than-expected second quarter profit on Thursday, fueled by solid demand for printing and outsourcing services, and the company boosted its full-year outlook.

Nokia reported a sharp drop in second-quarter profits and forecast a weak third quarter, increasing the pressure on embattled Chief Executive Olli-Pekka Kallasvuo.

Struggling state firm Dubai Worldis ready to use a special tribunal to force rebel lenders into line on plans to delay repayment of $14.4 billion in debts, according to a source familiar with the matter.

Caterpillar Inc reported a stronger-than-expected quarterly profit and raised its full-year outlook, citing sales growth in emerging markets, especially from customers in mining and energy.

It was a miserable winter day in January 2007, the kind that makes auto executives in the Motor City wonder why they hold the Detroit Auto Show at the most inhospitable time of the year.

Continental Airlines , which is being bought by United Airlines, posted a second-quarter profit that handily beat Wall Street expectations, helped by higher fares and reduced capacity.

Hungary hopes to reduce its budget deficit below the EU's 3 percent ceiling in the future but seeks equal treatment with other member states on a time frame to achieve that target, the prime minister said. Hungary by the end of the year will bring its deficit to 3.8 percent (of GDP) as it has agreed to, Prime Minister Viktor Orban told a news conference on Thursday.

Hungary's prime minister signalled on Thursday he would not renew a safety net with the IMF and would row back on a commitment to cut the budget deficit to European Union-prescribed levels next year. In the latest of a series of comments that have confounded markets, Viktor Orban said Hungary would meet this year's budget target under the International Monetary Fund-backed deal but the IMF safety net would end in October and the matter of negotiating a new one was insignificant.

Private equity firm Blackstone Group LP is close to finalizing the purchase of property loans with a face value of around $1.1 billion owned by Morgan Stanley's Japanese operations, three sources familiar with the situation said.

The credit risk profiles of India's diamond and diamond jewellery players will remain stable over the medium term, on the back of steady demand expected in key markets, and improved prices of polished diamond in 2010-11, according to an analysis by CRISIL.

Dollar funding costs eased on Thursday with the three-month interbank rate falling below 0.5 percent for the first time in two months and gains in Euro dollar futures implying further declines in the near term.

Platinum and palladium is set to scale new heights in the coming months. If the forecast of analysts is any indication platinum and palladium could reach around $1,300 and $400 an ounce, respectively, over the next couple of months.

Continental Airlines , which is being bought by United Airlines, posted a second-quarter profit on Thursday helped by higher air fares and trimmed capacity.

Oil rose on Thursday after better than expected euro zone manufacturing and services data, but rising U.S. oil inventories and fears about the broader U.S. economy, the world's largest, kept prices in check. The euro zone's private sector surged this month, according to a survey released on Thursday, reassuring markets spooked by U.S. Federal Reserve Chairman Ben Bernanke describing the prospects for the United States as unusually uncertain.

General Motors Co said on Thursday it would acquire auto finance company AmeriCredit Corp for $3.5 billion in cash in a deal aimed at easing financing terms for subprime car shoppers.

Wal-Mart , the world's top retailer, will be ready to open hundreds of stores in India if the country opens up the sector to foreign direct investment, the chief of its Indian joint venture said.

The owners of Danish cleaning firm ISS have revived plans for a multi-billion euro flotation, asking banks to pitch for roles helping to list or sell the company, three people familiar with the matter said. The owners -- Goldman Sachs Capital Partners and Swedish private equity fund EQT Partners -- are seeking to start a dual-track process toward an initial public offering (IPO) or sale later this year, the sources said.

Caterpillar Inc reported a stronger-than-expected quarterly profit on Thursday, and raised its full-year outlook, citing continued strong sales growth in emerging markets.

Stock index futures rose on Thursday, pointing to a rebound from Wednesday's sell-off after eBay posted solid earnings and Qualcomm boosted its outlook.

The U.S. dollar fell broadly on Thursday as better-than-forecast European economic data boosted equities and spurred appetite for risk, with a drop in U.S. lending rates putting additional pressure on the currency.

Gold prices are set to mark an eleventh year of gains in 2011 as investors seek refuge from an uncertain global economic outlook, with analysts revising up expectations sharply in a Reuters survey released on Wednesday.