IBT Staff Reporter

Steve Jobs defended Apple Inc's decision to maintain a $40 billion cash pile and said it was better to save the money for bold risks, like acquisitions, than to spend it on stock buybacks or cash dividends.

One of the more memorable speakers of Thursday's televised healthcare summit from Washington came from Democratic Rep. Louise Slaughter of New York.

Gap Inc posted a 45 percent rise in profit during its holiday quarter, helped by fewer discounts and improved sales in all divisions, and gave a 2010 profit forecast that beat Wall Street's estimates.

President Barack Obama and Republicans clashed frequently on Thursday at a summit on his stalled healthcare overhaul, battling over the size and cost of the proposal and moving no closer to a compromise agreement.

Gap Inc posted a 45 percent rise in net income during its holiday quarter, helped by fewer discounts and improved sales in all its divisions, and gave a 2010 profit forecast that beat Wall Street's estimates.

Securities regulators said on Thursday they are examining the potential abuses and destabilizing effects of credit default swaps, a financial instrument that can be used to speculate on an issuer's credit worthiness.

The White House said on Thursday it was still committed to banning risky trading by banks under the so-called Volcker Rule, after Federal Reserve chairman Ben Bernanke appeared to pour cold water on the idea.

The White House said on Thursday it was still committed to banning risky trading by banks under the so-called Volcker Rule, after Federal Reserve chairman Ben Bernanke appeared to pour cold water on the idea.

President Barack Obama has given Democrats and Republicans up to six weeks deliver a health care reform bill for his signature, before considering more aggressive measures, possibly reconciliation.

Ukraine's Viktor Yanukovich was sworn in as president on Thursday, pledging to balance his country between Russia and Europe and win back foreign support for the struggling economy.

The stock market ended down on Thursday as market participants were reminded of two key issues that hinder the global economic recovery.

Toyota Motor Corp's output in North America in the February-April period will likely fall short of its original target by 20 percent, as a result of massive vehicle recalls depressing sales, the Nikkei business daily reported.

The Australian Dollar opens lower today at 0.8860. During the domestic session on Thursday the unit hit a high of 0.8950 after the announcement of a 5.5 per cent advance in local fourth quarter capital expenditure.

Stocks recovered most of their losses but ended lower on Thursday after weak employment and durable goods data added to recent worries about the strength of the economic recovery.

India's food inflation based on wholesale prices rose to 17.58 percent in the twelve months to February 13. According to official figures by country's commerce ministry, primary articles price index was up 15.84 percent for the same period while fuel price index was up 9.89%.

Virgin said it will roll out 100 megabit-per-second broadband connections to homes in the UK.

The first ever Africa-India Economic Mission on Agro-Industry to Hyderabad aims to foster partnerships between Africa and India in agricultural research, soil and water conservation and management, biofuels, fresh produce management, knowledge parks, seed value chain and equipment.

U.S. stocks recovered most of their losses but ended lower on Thursday after weak employment and durable goods data added to recent worries about the strength of the economic recovery.

Stocks recovered most of their losses but ended lower on Thursday after weak employment and durable goods data added to recent worries about the strength of the economic recovery.

Demand for a wide range of U.S. manufactured goods unexpectedly fell in January, while new applications for jobless benefits rose again last week, the latest data to suggest a step back in the economy's recovery.

A little girl was found over the weekend locked in a Delaware gas station, while her mother remains missing.

Cablevision Systems Corp said it will roll out its controversial remote storage digital video recorder in April, doing away with the need to buy and install DVR boxes in subscribers' homes.

India's first-ever comprehensive database on tiger mortality and poaching-related crime has begun collecting information on tiger deaths, poaching and seizures.

U.S. regulators are probing how Wall Street firms like Goldman Sachs helped debt-stricken Greece arrange derivatives deals that critics say were used to disguise the size of its budget deficits.

Coca-Cola Co will take over the North American operations of its top bottler, Coca-Cola Enterprises Inc, in a strategic reversal that would level the field after a similar deal by PepsiCo.

Apple Inc CEO Steve Jobs said his company has to think big and its $40 billion cash hoard offers flexibility, suggesting that he had no immediate plans to spend the money on a share buyback or dividend.

A man was arrested for the kidnapping and abandoning of his 2-year-old daughter.

A man from New Jersey has been arrested for kidnapping his 2 year old daughter and then locking her in a Delaware gas station.

The island of Madeira, hit by deadly flash floods last weekend, remains open to visitors, but walking trails are still being checked for safety.