IBT Staff Reporter

Over the past six years, social networking has been the Internet's stand-out phenomenon, linking up more than one billion people eager to exchange videos, pictures or last-minute birthday wishes.

Amazon.com Inc posted a 68 percent surge in net income on Thursday that blew past analyst estimates, but its revenue and income outlook failed to impress Wall Street and its shares fell 5 percent.

Boeing Co's chief executive said government subsidies received by archrival Airbus give the European aircraft builder a significant advantage in their rematch for a potential $50 billon U.S. Air Force aerial-refueling fleet contract.

President Barack Obama scolded Wall Street on Thursday for its furious efforts to fight tighter regulation, saying the United States was doomed to another financial crisis if reforms were not implemented

Severe winter weather and higher fuel costs pinched Continental Airlines Inc's first-quarter results on Thursday and the company posted a larger-than-expected loss despite a jump in revenue.

Spyker Cars (SPYKR.AS) said on Thursday that production at Saab was on track, two months after the Dutch sports car maker bought the iconic but loss-making Swedish brand.

Microsoft Corp posted a better-than-expected 35 percent jump in quarterly profit, lifted by sales of Windows 7, but its shares fell about 5 percent as investors expected more from a recovering technology sector.

Stocks staged a late-day comeback on Thursday as strong quarterly profits from consumer bellwethers like Starbucks Corp outweighed worries about Greece's shaky finances.

The consumer protection agency in Minas Gerais state, Brazil's second most populous, blocked the sale of Toyota Motor Corp's (7203.T) Corolla cars in the state from Thursday, citing risks of unintended acceleration in the cars.

Amazon.com Inc forecast lower-than-expected earnings, raising concerns about the online retailer's future margins and sending its shares down about 7 percent.

CenturyTel Inc said it will buy the Qwest Communications International Inc , in a $10.6-billion stock deal, combining the third and the fourth biggest U.S. landline phone companies to help them compete more aggressively and cut costs.

Kimberly-Clark Corp said higher pulp costs and increased marketing spending to promote new products will weigh on profit this year as it posted lower first-quarter earnings.

Stocks staged a late-day comeback on Thursday as another steady drumbeat of strong quarterly profits from consumer bellwethers like Starbucks Corp outweighed worries about Greece's finances.

The number of U.S. workers filing new claims for jobless aid fell last week as the labor market gradually heals, while producer price data showed inflation is muted despite a surge in food costs last month.

Research In Motion Ltd needs to produce evidence next week that it is close to unveiling a more consumer-friendly BlackBerry experience if it hopes to disarm critics who question its competitive chops.

Where did the time go? It seems like last weekend I was sixteen with a backpack and a plane ticket, embarking on my first solo adventure.

President Barack Obama scolded Wall Street on Thursday for its furious efforts to fight tighter regulation, saying the United States was doomed to another financial crisis if reforms were not implemented

China's Beijing Automotive Industry Holding Co (BAIC) said on Thursday it is building a plant to make vehicles using technology it acquired from GM's [GM.UL] Saab unit late last year.

China's Jianghuai Automobile Group (600418.SS) has made progress in joint-venture talks with Caterpillar (CAT.N) and Navistar International Corp (NAV.N) and sees such a tie-up as key to its strategy to improve profitability and target export markets, an executive said.

Chinese auto sales are set to grow faster than expected this year, with some industry insiders now picking growth of 20 percent in the world's largest car market, raising talk Beijing will cut incentives to cool growth.

Goldman Sachs Group Inc intensified its public relations counteroffensive over fraud charges on Thursday as the company's chief executive watched President Barack Obama urge Wall Street to back regulatory reforms.

Private equity firm Blackstone Group reported higher quarterly earnings on Thursday that beat analysts' estimates as the value of its vast private equity investments continued to rebound.

PepsiCo Inc posted disappointing results in its first quarterly report since buying its largest bottlers, as promotions by rival Coca-Cola Co hurt its sales and the deal's benefits have yet to kick in fully.

The Nasdaq edged higher on Thursday as another steady stream of strong earnings from companies, including Starbucks Corp , overshadowed worries about Greece's ability to handle its debt.

Goldman Sachs risks losing clients wherever politicians hold sway after U.S. accusations the Wall Street powerhouse committed fraud, posing a threat to some lucrative business areas.

US Airways Group Inc said on Thursday it has dropped out of merger discussions with United Airlines parent UAL Corp, a decision that changes the dynamic of similar talks between UAL and Continental Airlines Inc.

The number of U.S. workers filing new claims for jobless aid fell last week as the labor market gradually heals and producer price data showed inflation remained muted despite a surge in food costs last month.

Greece's budget gap last year was worse than feared, the European Union's statistics office revealed on Thursday, as Moody's Investors Service downgraded its rating of Greek government debt.

Bank of America Corp intends to put more global in its global wealth management division.