IBT Staff Reporter

Islamist rebels and Somalia's western-backed government and allies exchanged mortar and small arms fire Thursday in the seventh day of clashes in the capital Mogadishu that have killed 139 civilians.

The U.S. House of Representatives on Thursday approved a $96.7 billion measure to fund the wars in Iraq and Afghanistan through September 30 as well as rush critical economic and security aid to Pakistan.

Tom’s objective was to secure a highly coveted pharmaceutical sales position. His main concern—one brought up in previous interviews—was that he lacked the preferred business-to-business (B2B) sales experience.

President Barack Obama raised the prospect on Thursday that China and other nations could stop buying U.S. debt and said the United States needed to tackle its deficit to avoid long-term economic damage.

The top Democrat in the U.S. House of Representatives on Thursday got into a public dispute with the CIA over what she knew about harsh interrogation techniques in 2002 in the latest twist in a Washington political firestorm.

Managing energy usage in a more efficient way would have a rebound effect reducing carbon and energy savings by half, according to a new study presented at a Cambridge University seminar on Thursday.

Private equity fund The Carlyle Group will pay a $20 million penalty to settle its role in a probe of investment firms that hired politically connected people to help them get chosen to manage New York state's pension fund, the state's attorney general said on Thursday.

Nike Inc will slash 5 percent of its 35,000-strong global workforce in a sweeping overhaul to boost competitiveness.

With the recession hitting the retail industry hard, an increasing number of retailers are now offering discount codes to consumers to differentiate themselves from High Street retailers and attract more customers, according to voucher code website.

Wells Fargo & Co., whose chief executive previously said the bank did not need or want a $25 billion infusion from the government last year, said on Thursday it is set to make its next quarterly dividend payable to the U.S. Treasury on Friday.

International Energy Agency on Thursday said global demand in oil consumption will fall 3% in line with the OPEC agreements rising prices due to sentiment rather than supply and fundamentals demands.

Stocks rose on Thursday as investors returned to financial and technology shares on bets the recent rally could have more room to grow after a brief pullback.

The Obama administration moved on Wednesday to exert more control over the shadowy over-the-counter derivatives market, now closely linked to the global credit crisis.

The map below demonstrates the chickenpox impact that just the initial round of Chrysler dealer shutdowns will have on the US economy. As is evident from the map (an interactive version of the map can be accessed here), the pain will be focused east of the Rockies, although major West Coast metropolises will not be spared either: every dot represents an automotive dealer that Chrysler disclosed to...

U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March, RealtyTrac said on Wednesday.

The number of U.S. workers filing new claims for jobless benefits rose last week, Labor Department data showed on Thursday, largely pushed up by auto plant shutdowns related to Chrysler's bankruptcy.

Facebook has confirmed that the site has fallen victim to another phishing attack following this mornings complaints from users that said they noticed a suspicious link that popped up on the site.

Documents made public on Wednesday confirm former U.S. Treasury Secretary Henry Paulson gave nine major banks no choice but to allow the government to take equity stakes in them as the Bush administration moved to address turmoil in the financial industry.

Adoption of new technology could lower total energy consumption of US by 2030 according to a study released today by the American Council for an Energy Efficient Economy (ACEEE).

New types of pennies are now available on the new US Mint catalog and available for sale.

Chrysler LLC notified all U.S. dealers on Thursday about its plans to eliminate 25 percent of its retail showrooms while rival Ford Motor Co assured investors it is on track to at least break even in 2011 without seeking any U.S. government aid.

The German solar industry expects a recovery in the second half of this year after a string of earnings showed on Thursday the sector has written off the first three months as the low point of 2009.

A severe kernel security hole was detected in Windows 7 RC security researcher 360 Security said on Thursday.

The recovering high-yield, high risk debt market has lost two managers at Black Rock, Inc, according to a report.

U.S. securities regulators plan tougher rules to hold investment advisers more accountable for their clients' money following money manager Bernard Madoff's massive fraud of as much as $65 billion over two decades.

Chrysler LLC notified all U.S. dealers on Thursday about its plans to eliminate 25 percent of its retail showrooms and is seeking permission from a U.S. bankruptcy court to terminate franchise agreements.

Stocks rose on Thursday as a recent pullback fueled buying of technology and financial shares on bets that equities may extend the run-up from early March.

President Barack Obama pressed the U.S. Congress at a town-hall meeting on Thursday to pass credit card reform measures cracking down on abusive practices by credit card companies.

Sony Corp forecast a second straight year of losses as the global recession batters demand for consumer electronics but the Japanese company stopped short of taking any new aggressive steps to cut costs further.