IBT Staff Reporter

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California lawmaker admits sex talk, not affair

A California lawmaker who resigned after he was caught on tape bragging about his sexual exploits with two women, one of them reportedly a lobbyist, denied on Thursday that he was having extramarital affairs.

Motorola to launch Google phone

Motorola Inc on Thursday said it would launch a new cell phone that uses Google software and seeks to tap into the popularity of online social networks like Facebook.

Marsico Capital cuts stake in Wynn Resorts

Investment firm Marsico Capital Management LLC has reduced its stake in casino operator Wynn Resorts Ltd as of the end of August, according to a regulatory filing on Thursday.

SEC contrite over failure to uncover Madoff

Contrite U.S. Securities and Exchange Commission officials apologized for bungling five probes that should have uncovered Bernard Madoff's $65 billion fraud, and its internal watchdog told top regulators to be more aggressive in investigating tips.

Motorola unveils Google phone, carrier deals

Motorola Inc unveiled on Thursday a new cellphone that uses Google software and features easier access to social networking sites like Facebook and Twitter, but some analysts said it might not be enough to turn around the company's money-losing handset business.

Wal-Mart CEO sees late Christmas

Wal-Mart Stores Inc is expecting a late Christmas as consumers continue to carefully manage spending, CEO Mike Duke said at an investor conference on Thursday.

First stages of U.S. rebound underway: Fed's Lockhart

Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday the U.S. economic recovery has started and made a plea for central bank independence to assure global markets the U.S. will pursue responsible monetary policies.

Market rises for 5th day on economic optimism

U.S. stocks rose for a fifth straight session on Thursday as a brighter outlook from consumer product company Procter & Gamble and a successful Treasury bond auction encouraged investors about an economic recovery.

US copper closes down in consolidation below $3/lb

U.S. copper futures closed down on Thursday, as prices extended a phase of consolidation below the $3.00 a lb level and fell under the weight of renewed concerns about near-term demand prospects, analysts said.

First stages of U.S. rebound underway: Fed's Lockhart:

Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday the U.S. recovery has started and he made a plea for central bank independence to assure global markets the U.S. will pursue responsible monetary policies.

When Will Global Oil Consumption Rebound?

With global oil consumption having decreased relative to year-earlier levels in every quarter since the middle of last year, we have now experienced four consecutive quarterly declines in world oil use, with another decline expected in the current quarter.

Mexico hijacker is singing, gunslinging evangelical

A man who hijacked a Mexican plane is a singing evangelical minister, marksman and martial arts whiz who friends nicknamed Crazy as he turned to religion to escape a life of drug addiction and petty thieving.

Fed's Lockhart: first stages of rebound underway

Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday the U.S. recovery has started and he made a plea for central bank independence to assure global markets the U.S. will pursue responsible monetary policies.

Key lawmaker seeks changes to broadband rules

A key U.S. lawmaker on Thursday expressed concern that much of the eastern part of the United States could be disqualified from broadband grants because of the way remote communities are considered.

How to Soothe Stress Naturally

We all face different challenges these days. Perhaps it's money troubles, an increase in drive time, or the burden of caring for a sick family member.

Cirque founder plans to put on show in space

The Canadian billionaire founder of Cirque du Soleil said on Thursday he would fly into space later this month to show a fairy tale dream can come true -- and would put on a show while there.

Beatles set to dominate UK charts once again

The Beatles look set to dominate Britain's pop charts once again this week with the Fab Four predicted to take five of the top 20 album places, the Official Charts Company said Thursday.

Corporate outlooks, bonds sale lift Wall Street

Stocks rose on Thursday as a brighter outlook from consumer product company Procter & Gamble and a successful Treasury debt auction put Wall Street on pace for a fifth straight session of gains.

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