IBT Staff Reporter

News Corp has replaced the CEO of the social networking site MySpace less than a year after hiring him, and said a discussion of his priorities led both sides to agree to a parting.

Diageo , the world's biggest spirits group, said markets were starting to recover and should turn around by mid-2010 after higher bonus payments and a minor sterling rally ate into its half-year earnings.

Euro area finance ministers agreed their countries would take determined and coordinated action to help Greece, drawing on IMF expertise but not the Fund's money, an EU government source said on Thursday.

European Union leaders will lay the foundations for a financial bailout of Greece at a summit in Brussels on Thursday, but any package will demand deep fiscal and economic adjustments by Athens in return.

Top diamond producer De Beers bolstered its balance sheet on Thursday with a $1 billion rights issue and bank refinancing as it swung to a annual $220 million underlying loss after demand plummeted for luxury goods.

World stocks hit a one-week high while the euro rose broadly on Thursday as investors looked to European Union leaders to lay the foundations for a financial rescue of Greece at a summit in Brussels.

European Union leaders are expected to lay the foundations for a financial rescue of Greece at a summit in Brussels on Thursday, but any package of support is likely to require major economic adjustments by Athens.

Global miner Rio Tinto reported a 23 percent slide in half-year profit on Thursday, its worst second-half profit in three years, dented by a sharp drop in iron ore prices, but the result beat analysts' forecasts.

Australia urged China to deal quickly and transparently with the trials of four Rio Tinto mining staff accused of bribery and stealing commercial secrets, amid growing investor concern over dealing with Beijing.

Credit Suisse missed forecast by posting its lowest quarterly profit in 2009 as market conditions toughened, but it continued to attract client flows while rival Swiss bank UBS struggled.

Diageo, the world's biggest spirits group, said it was in the early stages of recovery when reporting a 5 percent rise in half-year earnings and keeping its profit growth target for the year.

The euro rose on Thursday ahead of a key EU summit that could lay the groundwork for a rescue of debt-stricken Greece, while Asian stocks gained for a third day, powered by strong economic data from Australia and China.

Asian stocks rose for the third day in a row on Thursday, powered by strong economic data from Australia and China, while the euro steadied ahead of a key summit that could lay out a rescue plan for debt-stricken Greece.

Internet microblogging service Twitter named a chief financial officer on Wednesday, as the 2-1/2-year-old company steps up its efforts to make money.

Australia urged China on Thursday to deal quickly and transparently with the trials of four China-based employees of global miner Rio Tinto accused of bribery and stealing commercial secrets.

American International Group Inc has launched a new system to determine how employees get incentive pay, a move that follows public outcry over retention payments the bailed-out insurer made to some staff.

PNC Financial Services Group Inc said on Wednesday that it had completed the repayment of $7.6 billion in bailout funds to the U.S. government.

Apple Inc's forthcoming iPad tablet computer will cost as little as $229.35 for the company to produce, according to an estimate on Wednesday from research house iSuppli.

Satellite imagery company DigitalGlobe Inc said it amended its service level agreement with the National Geospatial-Intelligence Agency , its largest customer, to modify the government agency's option to extend the term of the agreement.

A UQ researcher has surveyed and interviewed students across three continents to understand the social representations, values, beliefs, attitudes and meanings associated with youth suicide.

Research published in the Journal of Forensic Sciences has examined the risks of herbal medicines, finding some can be dangerous and even lethal.

According to national guidelines, the best care for acute lower back pain is simple: stay active, avoid bed rest and take regular simple analgesics such as paracetamol.

Citigroup Inc said on Wednesday it has named Stuart Staley to replace the retiring head of global commodities, which the third largest U.S. bank aims to expand by 30 to 40 percent over the next three years.

Activision Blizzard Inc posted better-than-expected results on Wednesday, fueled by its hit holiday release Call Of Duty: Modern Warfare 2, and shares rallied as the company said it would start paying an annual dividend.

Researchers at Deakin University believe their recent findings may lead to a better understanding of why peanuts trigger life-threatening allergic reactions and could lead to reactions being prevented in the first place.

'Ouch' moments are common when you're young and learning to ride a bike or climb a tree but some children also experience pain that is much more complex.

In the first study of its kind University of Sydney researchers are investigating how addiction to internet porn affects people's work, finances and relationships.

Israeli technology group Emblaze accused Microsoft of infringing its U.S. patent for media streaming technology, after accusing Apple of the same thing, and offered to license the technology to both.

The financial system averted a meltdown but it is not yet back up to full strength, Treasury Secretary Timothy Geithner said on Wednesday.