IBT Staff Reporter

U.S. mortgage rates fell in the latest week, nudging closer to a recent record low, helped by government efforts to bring rates down to levels that will spur demand and help the hard-hit housing market begin to recover.

A wildfire along the coast of South Carolina ripped through Myrtle Beach early Thursday, forcing 2,500 residents to evacuate their homes.

Italian industrial group Fiat SpA said on Thursday it was still in talks to form a partnership with ailing U.S. carmaker Chrysler , adding that it aimed to reach a deal by an April 30 deadline.

Marlboro cigarette maker Philip Morris International Inc reported a higher-than-expected quarterly profit, helped by its Asian, Latin American and Canadian markets, and backed its 2009 earnings forecast, sending its shares up more than 1 percent.

Nokia, the world's biggest maker of cell phones, said on Thursday it was too early to say whether demand for handsets has bottomed out.

The number of U.S. workers filing new claims for jobless benefits rose 27,000 last week, the government said on a report on Thursday that showed the number of workers receiving benefits at a record high.

Two California lenders, First Regional Bancorp (FRGB.O) and Bank On It Inc (BKOT.OB), have entered agreements with the Federal Reserve Bank of San Francisco designed to ensure they remain financially sound, the regulator said on Thursday.

A Nepali telecom firm plans to expand its mobile phone services to the top of Mount Everest, benefitting climbers on the world's highest mountain, a company official said on Thursday.

Hershey Co posted a higher-than-expected rise in quarterly profit on Thursday as the chocolate maker increased its market share despite raising prices.

Britain's privacy watchdog has rejected calls to shut down Google's Street View service after complaints it was intrusive.

United Parcel Service reported a lower-than-expected profit and gave an outlook below analysts' views as the global economic downturn caused fewer packages to be shipped, sending its shares down more than 7 percent.

Apple has come under scrutiny after it released a rather insensitive 99-cent application, called Baby Shaker that allows the user to shake a baby in order to keep it from crying.

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US Airways Group on Thursday reported a quarterly net loss on weaker travel demand, but the loss narrowed 57 percent on capacity cuts and accounting gains for fuel hedge contracts related to cheaper jet fuel.

The pace of sales of existing homes in the United States fell 3.0 percent in March to a much lower-than-expected annual rate of 4.57 million units, the National Association of Realtors said on Thursday.

Struggling U.S. carmaker General Motors Corp is moving nearer to a deal to offload its Opel unit, having found a prospective buyer in Italy's Fiat SpA , an Opel supervisory board member said on Thursday.

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Struggling U.S. carmaker General Motors Corp appeared set for a deal next week to offload a majority stake in its German unit Opel, having found a buyer in Italy's Fiat SpA , among others.

The pace of sales of existing homes in the United States fell 3.0 percent in March to a much lower-than-expected annual rate of 4.57 million units, the National Association of Realtors said on Thursday.

Shares of Apple Inc's climbed about 3 percent on Thursday, fueled by solid quarterly results and optimism about the maker of iPhones and Mac computers despite the weak economy.

S&P 500 index futures trimmed gains on Thursday after government data showed the number of workers filing new claims for jobless benefits rose slightly more than expected last week.

SunTrust Banks Inc posted its second straight quarterly loss on Thursday, hurt by charges related to the collapsing real estate market.

Wall Street was set for a higher open on Thursday after positive results from companies like Apple Inc and Hershey Co suggested some businesses weathered the deep recession in the first quarter.

California on Wednesday said it would take several measures to ensure corn ethanol can help transportation fuel suppliers reach a proposed low-carbon fuel standard that is expected to be passed by the state on Thursday.

Bank of America Corp CEO Kenneth Lewis testified under oath that Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary Henry Paulson pressured him to keep quiet about losses at Merrill Lynch & Co, which the bank was buying, the Wall Street Journal reported.

Electronics retailer RadioShack Corp reported a higher-than-expected quarterly profit, bolstered by strong sales of its digital converter boxes, postpaid wireless and flat-panel televisions.

China should be praised for its lead role in a U.N.-backed scheme to cut carbon emissions and efforts to cap its flow of credits should be resisted, a leading British-based clean-energy project development firm said.

Electronics retailer RadioShack Corp reported a higher-than-expected quarterly profit on Thursday, bolstered by strong sales of its digital converter boxes, postpaid wireless and flat-panel televisions.

Stock index futures pointed to a higher open on Thursday after earnings from companies like Apple Inc and Hershey Co suggested some businesses weathered the recession in the first quarter.