IBT Staff Reporter

The European Central Bank kept interest rates unchanged at a record low of 1.0 percent on Thursday and President Jean-Claude Trichet said the euro zone economy faced a very gradual recovery from recession.

Stock index futures pointed to a higher open on Thursday, with Wall Street set to snap a four-day losing streak as retailers posted better-than-expected August sales that helped offset more disappointing news from the labor market.

Nokia Oyj said on Thursday it would start to open its software platforms to external developers in a bid to boost the quantity and quality of software for Nokia phones.

German carmaker BMW (BMWG.DE) revealed plans to build two new Mini models at its plant near Oxford in central England on Thursday, boosting British manufacturing and the embattled motor sector.

Opel's senior labor leader threatened General Motors GM.UL that the European carmaker's workforce would not pitch in to reduce $1.2 billion in costs if Detroit retains control of Opel.

Malaysia has reversed an earlier ban on Muslims attending a concert by U.S. hip-hop band the Black Eyed Peas, saying it had no right to keep people from entertainment events.

In a victory for Boeing , a preliminary World Trade Organization panel is likely to rule on Friday that European governments illegally subsidized Airbus aircraft, the Wall Street Journal said, citing trade officials, lawyers and executives from both sides.

American Apparel Inc will dismiss 1,500 factory workers who could not prove their U.S. immigration status or rectify problems with their employment records, the Los Angeles Times said on Thursday.

Nomura Holdings cemented its position at the top of the M&A league tables in Japan by bagging a mandate to advise Dainippon Sumitomo Pharma on its $2.6 billion acquisition of U.S. drugmaker Sepracor Inc.

Stock index futures rose on Thursday, ready to snap a four-day losing streak as retailers posted better-than-expected August sales and as investors wait for weekly jobless claims data.

The next few months could see more mergers and acquisitions in the U.S. manufacturing sector as memories of recent market highs fade and some smaller companies find they need financial backing.

U.S. retailers reported August sales that showed some signs that the economic downturn was easing, but a late Labor Day holiday and muted consumer enthusiasm weighed on the key back-to-school season.

China plans new rules to allow foreign companies to set up local units in the form of a locally registered partnership, in a landmark move to attract investment, a draft proposal seen by Reuters showed on Thursday.

Costco Wholesale Corp on Thursday reported a smaller-than-expected 2 percent fall in August same-store sales, in a sign that the impact of the financial crisis is waning on U.S. consumer spending.

Cisco Systems Inc and EMC Corp are in talks to create a new joint venture to provide technology services, the Wall Street Journal said, citing people briefed on the plan.

A Faster Recovery?; Airlines' Reality Sinks In; Facing the Music

Thursday, the European Central Bank held its key interest rate at a record low level of 1%. The decision was in line with economists' expectations.

A monthly gauge of U.S. online labor demand soared in August at its fastest pace in four years, indicating steadier footing for nationwide labor demand, a private research group said on Thursday.

Gamers competing against rivals around the globe in online multiplayer games have a new force protecting them -- teams of virtual detectives.

U.S. retailers reported August sales that showed some signs that the economic downturn was easing, but a late Labor Day holiday and muted consumer enthusiasm weighed on results in the key back-to-school season.

AIG's new CEO, Robert Benmosche, has sparked just about as many headlines as one executive can in the past few weeks -- and all while on holiday at his villa in Croatia looking over the Adriatic.

During your job search, do you sometimes assume that nobody ever succeeded in life when he or she was facing odds as bad as yours are now?

Oil prices rose above $69 a barrel on Thursday, drawing support from a sharp fall in U.S. gasoline inventories that revived hopes of a demand recovery in the world's largest fuel consumer.

The biggest U.S. Internet service providers urged regulators to adopt a conservative definition of broadband, arguing for minimum speeds that were substantially below many other nations.

Dainippon Sumitomo Pharma Co Ltd agreed on Thursday to buy U.S. drugmaker Sepracor Inc for $2.6 billion, giving the Japanese firm a big, local sales force in the world's largest drugs market.

World stocks ticked higher on Thursday, bolstered by firmer Chinese shares, while the euro gained and the region's government bonds slipped ahead of a European Central Bank monetary policy decision.

Dainippon Sumitomo Pharma Co Ltd agreed on Thursday to buy U.S. drugmaker Sepracor Inc for $2.6 billion, giving the Japanese firm a big, local sales force in the world's largest drugs market.

U.S. stock index futures pointed to a higher open on Wall Street on Thursday, following a four-day losing streak.

Global airlines' losses this year could exceed industry body IATA's estimate of $9 billion as no improvement across the sector is in sight so far, Deutsche Lufthansa's management board member Stefan Lauer said.