IBT Staff Reporter

The pursuit of German carmaker Opel has narrowed to a three-way race between Italy's Fiat , Canadian-Austrian car parts group Magna and investment firm RHJ International.

Some Federal Reserve officials predicted an even deeper recession than they expected three months earlier and a more sluggish recovery over the next two years as labor markets remain under pressure.

On Wednesday, Cisco Systems Inc., completed its acquisition of Tidal Software, Inc. the creator of intelligent application management and automation solutions based in in Palo Alto, California and Houston

A bill restricting credit card practices won the final approval of the U.S. congress and is now expected to be signed into law by President Barack Obama as soon as Friday.

(Corrects Nikkei point loss in paragraph 10)

Treasury secretary Timothy Geithner on Wednesday said major banks have raised $56 billion since the results of the stress tests were released reflecting a need for more capital.

Japan's Nikkei stock average lost 1.2 percent on Thursday, with Honda Motor Co and other exporters down as the yen climbed to a 2-month high on the dollar and after the Federal Reserve cut its outlook for the U.S. economy. Tech shares fell in the wake of losses by their U.S. peers, with Sony Corp dropping 1.6 percent, despite saying it plans to halve the number of it...

Regulators have questioned former Lehman Brothers Holdings executives over their marketing of auction-rate securities, the Wall Street Journal reported, citing people with knowledge of the matter.

Japan's Nikkei stock average lost 1.2 percent on Thursday, with Honda Motor Co and other exporters down as the yen climbed to a two-month high on the dollar after the Federal Reserve cut its outlook for the U.S. economy.

Data storage equipment maker NetApp Inc said it will buy another storage-related firm, Data Domain , for $1.5 billion, even as it reported a decline in quarterly profit and avoided giving an outlook due to the weak economy.

Japan's Nikkei stock average lost 1.5 percent on Thursday, with Honda Motor Co and other exporters down as the yen climbed to a 2-month high on the dollar after the Federal Reserve cut its outlook for the U.S. economy.

Regions Financial Corp and Fifth Third Bancorp announced plans on Wednesday to sell stock, the eighth and ninth of the 10 large U.S. banks ordered by federal regulators to bolster their finances to announce capital-raising plans.

An executive and an employee of a broker-dealer firm were charged with defrauding Citgo Petroleum Corp, a subsidiary of PDV Holding Inc owned by Venezuelan state oil company PDVSA, court documents released on Wednesday show.

Japan's Nikkei stock average slipped 0.6 percent on Thursday, as the yen rose to a fresh two-month high against the dollar weighing on Toyota Motor Corp and other exporters.

Limited Brands Inc on Wednesday reported a surprise quarterly profit as cost cuts offset softer sales at the operator of the Victoria's Secret and Bath & Body Works chains.

Microsoft Corp said on Wednesday a Texas federal jury ordered the company to pay Canadian software firm i4i Ltd $200 million in damages for infringing a patent.

Bank of America Corp wants to pay back $45 billion in bail-out funds by the end of the year, accelerated by a program to raise capital, the Financial Times reported on its website late on Wednesday.

Chinese state-owned metals firm Chinalco will restructure its $19.5 billion tie-up with miner Rio Tinto Ltd/Plc to allay Australian government concerns, the Sydney Morning Herald newspaper said on Thursday.

Microsoft Corp said on Wednesday a Texas federal jury ordered the company to pay Canadian software firm i4i Ltd $200 million in damages for infringing a patent.

Australian Dollar: The Australian Dollar took a bit of a hit in Asian trade yesterday falling from a seven and half month high of 0.7783

Chrysler’s new chairman, Robert Kidder, a private-equity investor and former consultant who once worked for Ford Motor Co will lead the automaker currently reorganizing under court protection.

The Federal Reserve said on Wednesday it saw modest improvements in the U.S. economy last month, but it still saw big risks and left open the possibility of increasing its purchases of mortgage-related and government debt to keep credit flowing and spur recovery.

President Barack Obama concluded said Wednesday there is an impressive consensus among members of his Economic Recovery Advisory Board for getting the United States to take the lead on clean energy issues.

Treasury Secretary Timothy Geithner is surrounding himself with former aides to President Bill Clinton as he attempts to rebound from a rocky start even as top-tier vacancies have slowed decision-making.

U.S. investigators criminally charged two executives of FTC Capital Markets Inc in a suspected investment fraud possibly involving hundreds of millions of dollars, according to a court document released on Wednesday.

Red Hat Inc. has announced the availability JBoss Enterprise Business Rules Management System (BRMS) with a new business rules and policies.

U.S. Treasury Secretary Timothy Geithner said on Wednesday the Obama administration was making headway in calming financial markets and would have a program to cleanse toxic assets from banks' balance sheets up and running by July.

Western Digital Corp. has unveiled its new 2TB green drives providing cooler, quieter operation with less power consumption, specifically design for audio and video applications, including high-definition video for the surveillance and security market.

Stocks fell on Wednesday, led by financials in a late-stage sell-off, after the Federal Reserve gave a more pessimistic view on the economy, tempering hopes for a quick recovery.