IBT Staff Reporter

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EU's support for Greece, data lift Wall St

U.S. stocks rose on Thursday after a pledge by European leaders to support debt-laden Greece eased fears of a broader euro zone crisis and upbeat data from China spurred mining and material stocks.

Jobless claims drop; White House sees job growth

The number of U.S. workers filing new claims for unemployment benefits fell more than expected last week, welcome news for the White House as it predicted more than a million jobs will be created this year.

Obama to set up debt commission soon - W.House

President Barack Obama will sign an executive order establishing a commission to tackle the federal government's long-term fiscal challenges in the next 10 days or so, the White House said on Thursday. Obama, who hopes to persuade Republicans as well as members of his own Democratic party to serve on the debt panel, had been expected to set it up this week. But this plan was disrupted by a severe winter storm that dumped heavy snow on Washington, White House spokesman Robert Gibbs said.

SGI unveils hosted super computing

SGI is rolling is rolling out a hosted super-computing service in what it hopes will open up a 'new era of discovery' for scientists and businesses.

FOREX-Euro falls broadly as Greece deal offers few details

The euro fell against the dollar on Thursday as investors were disappointed with the lack of details regarding a European Union deal to support heavily-indebted Greece. The euro zone currency also dropped against the yen and sterling after European leaders sought to prop up Greece with words of support at a summit on Thursday, but failed to make concrete pledges, describing the promise of support as a political statement.

Blackstone's Merlin says no IPO in near future

Merlin Entertainments, the Blackstone-owned theme park operator, said on Thursday it had no near-term plans to go public, a day after Blackstone-backed travel services group Travelport scrapped its London listing, blaming market instability.

Obama to meet Dalai Lama on Feb 18: White House

The White House announced on Thursday that President Barack Obama and the Dalai Lama would meet on February 18, despite China's warning that such talks could hurt already-strained Sino-U.S. relations.

Extremely premature babies show higher autism risk

Researchers found that of 219 children born before the 26th week of pregnancy, 8 percent met the criteria for an autism spectrum disorder (ASD) at age 11. That compared with none of 153 classmates who were born full-term and included in a comparison group.

Viacom profit beats expectations

Viacom Inc's profit surpassed expectations thanks to a round of cost-cutting and brisk sales of DVDs like Star Trek and Transformers 2 -- but the results were marred by signs that advertising has yet to improve.

EU pledges to support Greece, but offers no details

European leaders sought to prop up Greece with words of support at a summit on Thursday but failed to offer concrete proposals to help the country tackle its debt crisis, prompting a negative market reaction.

Sweden beats U.S. to top tech usage ranking

Sweden took the number one spot from the United States to top the annual rankings on the usage of telecommunications technologies such as networks, cellphones and computers, a report released on Thursday shows.

Jobless claims drop raises hopes on recovery

The number of U.S. workers filing new claims for unemployment benefits fell more than expected last week, welcome news for the White House as it predicted more than 1 million jobs will be created this year.

Greece needs psychological, political support -PM

Greece needs psychological and political support from Europe and does not envisage calling on the International Monetary Fund for help, Greek Prime Minister George Papandreou was quoted as saying on Thursday.

Business Council CEO survey finds U.S. hiring wariness

Top U.S. executives say their companies are moving out of the defensive position they adopted during the recent worldwide downturn and are aggressively planning to grow, according to the latest semiannual survey by the Business Council.

Spain convicts first traitor since dictatorship

A former Spanish intelligence officer has been jailed for 12 years for trying to sell state secrets to Russia, the first treason conviction in Spain since the death of dictator General Francisco Franco in 1975.

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