IBT Staff Reporter

U.S. stocks advanced on Thursday as oil and other commodity prices rose while retail sales and weekly jobless claims data increased hopes for an economic recovery.

Palm Inc named Jon Rubinstein its CEO on Wednesday, hoping the former Apple executive will usher in a new era for a company seeking to revive its fortunes with a fresh smartphone launched last weekend.

Amazon announced the Kindle DX in early May and began accepting pre-orders which they should would be delivered sometime in the summer but now Amazon.com sites today on its website that the shipping date will be June 17.

Bank of America chief executive officer Ken Lewis said Thursday his bank went through with the Merrill Lynch acquisition late last year after the government committed to taking on some of the risk of the merger.

Hewlett-Packard Co, the world's biggest PC maker, will help sell online backup services from Symantec Corp, which is looking to expand its consumer business beyond its line of Norton security products.

Stocks rose on Thursday as oil and other commodity prices climbed while retail sales and weekly jobless claims data raised hopes for an economic recovery.

Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Henry Paulson will be asked to testify before Congress on their role in Bank of America's acquisition of Merrill Lynch.

Mortgage rates leaped with bond yields in the past week to the highest since November, erasing strides made by a massive government program to help revive U.S. housing.

Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Henry Paulson will be asked to testify before Congress on their role in Bank of America's acquisition of Merrill Lynch.

Federal Reserve Chairman Ben Bernanke and former Treasury Secretary Henry Paulson will be asked to testify before Congress on their role in Bank of America's acquisition of Merrill Lynch.

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The International Monetary Fund has revised its 2010 growth forecast sharply upwards, a source said on Thursday, and surging Chinese investment in May fueled hopes of a global recovery.

Swedish luxury carmaker Koenigsegg and Norwegian investors have signed a letter of intent with General Motors' Swedish unit Saab to take over the loss-making brand, Swedish television reported on Thursday, citing unnamed sources.

Delta Air Lines Inc said on Thursday that it planned additional cuts in seat capacity this year as rising fuel prices and softer travel demand pressure business.

China is formulating a plan for development of renewable energy, as pressure mounts from Washington for lowered green house emissions to fight the specter of a warming planet.

U.S. retail sales rose in May for the first time since January, according to a government report showing results which represent the ‘complete universe’ of over three million retail and food services firms nationwide.

Bank of America's Ken Lewis on Thursday testified at a U.S. House Oversight and Government Reform Committee hearing to examine the government's role in the bank's acquisition of Merrill Lynch.

Stocks advanced on Thursday as oil and commodity prices rose and retail and jobs data boosted hopes of economic recovery.

India's Satyam Computer Services said on Thursday it plans to put about 7,000 to 10,000 staff on virtual pool as part of the fraud-hit outsourcing firm's strategy to manage excess staff and cut costs.

A Chinese lawyer has demanded a public hearing to reconsider a government demand that all new personal computers carry Internet filtering software, adding to uproar over a plan critics say is ineffective and intrusive.

The International Monetary Fund has raised its global growth estimates for 2010 to 2.4 percent from 1.9 percent in April because of stimulus measures taken in recent months, a G8 source who has seen the latest figures said.

BlackBerry Internet Service, an Internet solution for BlackBerry smartphones, has quietly released an update.

U.S. retail sales rose for the first time in three months in May and the number of workers filing new claims for jobless benefits last week hit the lowest level since January, suggesting the recession was abating.

Myanmar's detained opposition leader Aung San Suu Kyi believes her trial is an attempt by the country's ruling generals to prevent her from running in multi-party elections next year, her lawyer said.

Russia said on Thursday that full dialogue with the United States on missile threats could only begin if Washington dropped its plans to deploy a missile defense system in Europe.

NATO nations agreed on Thursday to cut their 10-year-old peacekeeping operation in Kosovo from around 14,000 troops to 10,000 in coming months, with further reductions planned if security allows.

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Air France is not yet convinced that faulty speed sensors were to blame for the loss of one of its planes over the Atlantic, but it is replacing old sensors as a precaution, the airline's chief executive said on Thursday.

The global economy is set to contract by close to three percent this year, worse than the previous estimates for a 1.75 percent decline, World Bank President Robert Zoellick said on Thursday.