IBT Staff Reporter

SunPower , an U.S. manufacturer of solar panels, reported an unexpected net loss for the first quarter, hit by the credit crisis and the difficult economic conditions, the company said Thursday.

The ships and naval aircraft were on a parade Thursday off the Chinese coastal city of Qingdao, marking the 60th anniversary of the Chinese Navy.

American Express Co , reported better-than-expected earnings on Thursday as it slashed costs and said it intended to repay government bailout funds as soon as regulators allow, sending its shares up 6 percent.

A solid crop of earnings reports from the leading lights of technology suggests the sector is proving adept at cost cuts and more resilient to the economic meltdown than previously thought.

The World Bank will provide $45 billion over the next three years to support road building and other infrastructure projects in poor nations.

American Express Co , reported better-than-expected earnings on Thursday as it slashed costs, and said it intended to repay government bailout funds as soon as regulators allow, sending its shares up 6 percent.

The U.S. Federal Reserve lifted the lid on its efforts to shore up the financial system on Thursday, and in the process, showed a $3 billion loss on the books from its deal to rescue investment bank Bear Stearns.

Former Peruvian President Alberto Fujimori filed an appeal on Thursday in a bid to overturn his conviction on human rights crimes as his daughter prepares her own presidential bid.

Amazon.com on Thursday beat Wall Street expectations for quarterly earnings and revenue as lowered prices lured more shoppers online and sales of its Kindle electronic reader gained momentum.

American Express Co , reported on Thursday sharply lower first-quarter earnings, as the fourth-largest U.S. credit card company struggled with higher bad loans, and set aside more money to cover those losses.

U.S. officials testing the health of the nation's top banks must walk a tightrope when they disclose the exams' results: The scrutiny must be tough enough to be credible, but not so harsh as to rattle an already shaken system.

General Motors Corp said on Thursday it would slash production over the next three months to cut its inventory of cars and trucks and avoid the risk of an uncontrolled shutdown from the financial crisis at bankrupt supplier Delphi Corp .

Bank of America chief was not advised on disclosure issues by anyone at the Federal Reserve, Fed spokeswoman, Michelle Smith said on Thursday.

Australian Dollar: After another attempt to break through the 70 cent level in Asia yesterday the Aussie dollar shrugged off more weak data in the form of March New Motor Vehicle sales to enter

The International Monetary Fund (IMF) further downgraded its projection of 2009 global economic growth this week from a negative 1.3percent to a negative nearly 2%.

U.S. Attorney General Eric Holder said on Thursday he was considering forming a financial fraud task force and advocated a more comprehensive view of the causes behind the U.S. economic crisis.

Chrysler LLC's first-lien lenders are preparing another counter-offer to the U.S. Treasury that involves reducing the automaker's debt, sources familiar with the matter said on Thursday.

The Atlanta Falcons confirmed to USA TODAY's Jim Corbett that they have acquired Tony Gonzalez from the Kansas City Chiefs for the second round in 2010.

Microsoft Corp's quarterly profit fell, but its shares rose as investors welcomed continuing efforts to cut costs and news that the release of the Windows 7 operating system is on track.

No one at the Federal Reserve advised Bank of America chief Kenneth Lewis on any disclosure issues, Fed spokeswoman Michelle Smith said on Thursday.

The credit card industry needs more accountability, transparency must be improved and unfair rate increases need to come to an end, President Barak Obama urged on Thursday at a White House meeting.

U.S. stocks rose in volatile trade on Thursday as better-than-expected results from several regional banks lifted financial shares, overshadowing disappointing economic data and anemic outlooks from economic bellwethers like United Parcel Service.

U.S. stocks rose in volatile trade on Thursday as better-than-expected results from several regional banks lifted financial shares, overshadowing disappointing economic data and anemic outlooks from economic bellwethers like United Parcel Service.

Amazon.com on Thursday beat Wall Street expectations for first quarter earnings and sales as it drew more customers online and its Kindle electronic reader gained momentum.

The Federal Reserve's balance sheet ballooned in 2008, more than doubling in size, as the central bank ramped up funding to bail out the financial system, according to Fed data released on Thursday.

Amazon.com on Thursday posted higher quarterly net income, with revenue rising 18 percent in the sluggish global economy, beating Wall Street expectations and its shares rose 1 percent.

Microsoft Corp. said Thursday that its quarterly revenue fell from the previous year for the first time in its 23-year history as a public company.

Amid rumors of bankruptcy, Chrysler revealed it intends to make an all-electric version of its Town and Country minivans that will be sold exclusively to the U.S. Postal Service.