IBT Staff Reporter

India's largest real estate firm, in terms of market capitalisation, DLF Ltd, said it will hold equal stakes with Adrian Zecha, founder of luxury hotel chain, Aman Resorts, in the Singapore-based company in a transaction valued at $400 million.

Suited executives, grungy teens and even some savvy grannies are already using Wi-Fi to wirelessly link their laptops to the Internet. It may not be long before the short-range high-speed technology is just as popular for those looking to connect music players, phones, cameras, game consoles and more.

Hinduja group company Hyderabad-based Gulf Oil Corporation has received permission from the Karnataka state government to develop a 40-acre IT Park at Yellahanka.

E*Trade Financial Corp is getting a $2.55 billion cash infusion from investors led by Citadel Investment Group, which is also buying the mortgage-related securities portfolio that has been the primary source of the discount brokerage's recent woes. The bail-out by Chicago-based Citadel will give the alternative fund manager about 18 percent ownership of E*Trade and a seat on the board, E*Trade said on Thursday.

Gold fell on Thursday as the dollar rose, dulling the metal's attraction for non-U.S. investors as an alternative investment.

Oil gave back nearly all of its big gains on Thursday after Enbridge Pipeline said its fire-damaged crude pipeline in Minnesota could resume normal operations within days.An explosion along the Canada-to-United States pipeline, which supplies more than 10 percent of U.S. crude imports, killed two workers and choked off crude flows Wednesday.

Israeli Prime Minister Ehud Olmert said after peace talks in Washington that failure to negotiate a two-state solution with the Palestinians could threaten Israel's long-term survival.

India Infoline Investment Services (IIIS) has announced that it has sold 22.5 percent stake to Singapore-based private equity investor Orient Global, founded by emerging markets expert Richard Chandler, for $76.7 million (Rs.300 crore).

Pakistani President Pervez Musharraf said on Thursday he would end a state of emergency next month, bowing to domestic and international pressure to restore normal government ahead of general elections in January.

The JSW Group, a part of the $4 billion O. P. Jindal Group has announced its plans of injecting Rs.7525 crore in four different projects in Tamil Nadu within the next three years.

Apple co-founder and CEO Steve Jobs has been named as the most powerful businessman by Fortune magazine in a list which also features Lakshmi Mittal, Indra Nooyi and Ratan Tata.

U.S. stocks were lower on Thursday, after fluctuating during the day, with a rise in energy sector stocks but disappointment in quarterly earnings at retailers.

Crude oil rose on Thursday, following an overnight explosion at a major pipeline which cut Canadian oil supply to consumers in the U.S.

Worldwide distributor of plumbing and heating products Wolseley Plc has announced the axing of 3,000 jobs today in its first Interim Management Statement.

A surge in inventory-building and robust exports propelled U.S. economic growth ahead at the fastest rate in four years during the third quarter, but a jump in claims for jobless benefits last week underscored the sharp slowdown now under way.

Stocks fell on Thursday, surrendering some of Wednesday's large gains, as retailers stumbled after several disappointing quarterly earnings reports, including Sears Holdings Corp.

American International Group is interested in expanding into consumer finance in South Korea and may buy Korean companies to grow its businesses, the head of its Korean life insurance unit said on Thursday.

Hyundai Mobis Co said on Thursday China would account for half of its international unit's sales within five years, rising from the current 10 percent.

Global stocks rallied on Thursday after strong Wall Street gains in the previous session, as the prospect of Federal Reserve interest rate cuts boosted faith in the U.S. economy and encouraged investors to take on risk again.

The dollar rose broadly on Thursday as investors bet that the perceived likelihood of more U.S. interest rate cuts will help avoid a recession.

An explosion crippled the biggest pipeline supplying Canadian crude to U.S. Midwest refineries, shutting off more than 1 million barrels per day of imports to the world's biggest consumer.

National Bank of Canada swung to a fourth-quarter loss on Thursday, after previously warning that it would take a big charge on asset backed commercial paper.

Toronto-Dominion Bank, which plans to acquire New Jersey-based Commerce Bancorp early next year, posted a 44 percent jump in fourth-quarter profit on Thursday thanks to strong results in its wealth management and retail banking businesses.

Shares of Freddie Mac surged on Wednesday as strong demand for a record preferred stock issue signaled the second-biggest provider of U.S. home funding could access capital even in turbulent markets.

Russia will become Europe's biggest car market in 2009, overtaking Germany, Volkswagen's chief executive told reporters late on Wednesday during the group's official opening of its new plant in Kaluga outside of Moscow.

Ford Motor Co has agreed to settle class-action litigation covering plaintiffs in four states who claimed its Explorer sport utility vehicles were prone to rollovers, Ford said on Wednesday.

ABC is on track to win the November sweep in adults 18-49, and CBS will be first in viewership, while Fox and Univision are the only big networks to show year-over-year increases.

China has published a blacklist of substandard toy jugs and children's shoes sold at Wal-Mart stores and drawing pens from French retailer Carrefour in a quality sweep on children's goods sold at Beijing supermarkets.

He's jumping off tall buildings again, but this time it is just rehearsals ahead of the next James Bond blockbuster due in theatres in 2008.