IBT Staff Reporter

The number of U.S. workers filing new claims for jobless benefits unexpectedly fell 21,000 last week, government data showed on Thursday, and a less volatile unemployment claims gauge dipped to an eight-month low.

Metallurgical Corp of China (MCC), a building and engineering firm that raised $2.3 billion in Hong Kong's biggest IPO this year, fell on its debut as investors, tiring from an IPO deluge, judged the stock was too pricey given an uncertain outlook for China's steel industry.

China dampened expectations of further sanctions on Iran Thursday, telling other major powers that putting even more pressure on Tehran would not persuade it to halt its nuclear program.

G20 Gathers; Mixed Economic Signals; Losing the Bailout Funds

Shares of Julius Baer Holding AG's U.S. asset management arm Artio Global Investors Inc jumped 6.7 percent in their debut following the company's initial public offering that raised more money than expected.

China's efforts to gain a greater stake in Australia's resource industry suffered a new setback on Thursday when a Chinese miner dropped a $400 million bid for a controlling stake in an Australian rare earths miner.

Existing home sales in the U.S fell in August and jobless claims around the nation fell last week, sending mixed signals at the early stages of the nation's economic recovery.

Nomura Holdings Inc said it would raise up to 511 billion yen ($5.6 billion) in its second share sale since buying Lehman's Asian and European operations, targeting investments and tighter capital requirements.

World stocks slipped from the previous day's 11-month high on Thursday as falling oil prices and caution ahead of the Group of 20 summit prompted investors to cut back on risky assets.

Belgian tenor Helmut Lotti has done Elvis, sung crossover classical music, crooned to stadium audiences across the globe, and even belted out Latino and African hits.

The U.S. financial system remains fragile a year after a bank bailout program was initiated and the government needs to be ready to step in to help more if necessary, a senior U.S. Treasury department official said on Thursday.

JPMorgan Chase & Co (JPM.N) and Wells Fargo & Co (WFC.N) said on Wednesday they are eliminating some overdraft fees altogether and trimming others, after Bank of America Corp (BAC.N) announced a similar move on Tuesday.

The era of free U.S. bank accounts may be headed for an end, if a new political push to curb overdraft fees is successful.

Supercomputing, once the province of a select few, is fast becoming a key business tool, a trend Dell Inc (DELL.O) hopes to capitalize on.

U.S. mortgage rates held at their lowest level since late May in the latest week, low enough to continue to spur home loan demand and help the hard-hit U.S. housing market recover.

The Tribune Co received federal court approval on Thursday to sell the Chicago Cubs baseball team to the Ricketts family for $845 million, part of the bankrupt media company's effort to restructure.

A new Michael Jackson song, This Is It, will be released as a single on October 12, Sony Music Entertainment announced Wednesday.

Lithium-ion car battery maker A123 Systems Inc (AONE.O) shares soared as much as 41 percent in their debut on Thursday in an eagerly anticipated initial public offering.

Sales of previously owned U.S. homes unexpectedly fell in August, a survey showed on Thursday, a minor setback for the housing market's recovery from a three-year slump.

KISS, the Red Hot Chili Peppers, Genesis, the Hollies, LL Cool J and Jimmy Cliff are first-time contenders for induction into the Rock and Roll Hall of Fame, organizers said Wednesday.

Better Place, which is building a global network of charging stations for the electric car industry, expects its e-cars to be significantly cheaper than gasoline-powered counterparts, its CEO was quoted as saying.

The U.N. Security Council, at a summit chaired by U.S. President Barack Obama, unanimously approved a resolution on Thursday calling on nuclear weapons states to scrap their arsenals.

General Motors Co's [GM.UL] Indian unit is partnering local firm Reva Electric Car Co to develop electric vehicles for the Indian market, and hopes to start selling a battery-operated small car within a year.

U.S. stocks fell on Thursday as a surprise decline in existing home sales suggested an economic recovery would be slow, even as initial jobless claims dropped.

Mexico has selected Carlos Carrera's crime thriller Backyard as its foreign-language Oscar contender for the 82nd Academy Awards.

Automakers backed calls to ban drivers on U.S. roads from text messaging with cell phones and other hand-held devices, an issue gaining attention from the Obama administration and Congress.

Hollywood screens are usually populated by Barbies, but now the real Barbie is on her way to the big screen.

U.S. venture capitalists have had to contend with an IPO market that has been inhospitable -- but finally there are reasons to be optimistic a recovery could be around the corner.

U.S. taxpayers will probably never recover all of the hundreds of billions of dollars invested to bail out financial firms, automakers and homeowners, a key watchdog for the program said on Thursday.