IBT Staff Reporter

President George W. Bush admitted on Thursday his troop buildup in Iraq had made limited progress but said he would wait for a September security report before considering a change of course.

The dollar dropped to a record low against the euro on Thursday as troubles in the U.S. mortgage and credit markets continued to dampen the currency's appeal.

Oil hit new 11-month highs above $76 a barrel on Thursday, propelled by strong fundamentals and increased flows of fund money into the world's most actively traded commodity.

Infosys Technologies Ltd. reported a 34.5 percent jump in quarterly profit on Wednesday, but shares fell after the Indian software developer lowered its full year profit outlook.

An experimental cancer drug from Britain's Antisoma Plc and Swiss-based Novartis AG has failed in a mid-stage clinical trial for ovarian cancer, lopping 15 percent off Antisoma's market value.

Stocks rallied on Thursday and drove the Dow to a record high after Wal-Mart reported better sales, allowing investors to put aside worries over costlier oil and cheaper housing.

HD DVD video players have outsold rival standard Blu-ray players by a three-to-one margin in Europe's main markets so far this year, according to a lobby group.

Marriott International Inc., the top U.S. hotel operator, said on Thursday that second-quarter profit rose a better-than-expected 11 percent, but concerns about slowing growth in North America led to a decline in its shares.

Shares of Nymex Holdings Inc. rose more than 4 percent on Thursday as two analysts increased their earnings estimates the day after the parent of the New York Mercantile Exchange said it was raising trading fees for members.

Nuts and bolts distributor Fastenal Co. on Thursday reported a quarterly profit that beat market expectations by a penny, on a rebound in daily sales growth.

As Macy's Inc. struggles with disappointing sales, analysts and other experts are not ruling out the possibility of the retailer being bought out.

The U.S. trade deficit widened in May as rising oil prices pushed imports to an all-time high, outstripping record exports, a government report showed on Thursday.

Germany's biggest Apple retailer is getting 1,000 enquiries every day about buying the new iPhone, which is expected to go on sale towards the end of the year, the retailer's head told a newspaper.

M&T Bank Corp., the first large U.S. bank to report quarterly results, on Thursday said easing mortgage pressure contributed to higher-than-expected profit.

Retailers reported modest June sales results on Thursday as industry leader Wal-Mart Stores Inc. and teen favorite Abercrombie & Fitch Co. topped Wall Street's conservative expectations while a number of department stores and women's specialty retailers foundered.

Thieves have stolen nearly $300 million from a bank in Baghdad, police and a bank official said Thursday, in what is probably one of the biggest thefts in Iraq since the 2003 war to topple Saddam Hussein.

Shares in Capgemini rose on Thursday on market talk that India's Infosys would make a bid for Europe's largest IT services group at 70 euros a share, traders said.

Refugees forced into crowded camps by northern Uganda's two-decade civil war need many things: food, doctors, toilets, bore holes for drinking water, schools -- and computers?

Cooperation, not mutual destruction, is a major theme at this year's summer gathering of the media and technology elite in Sun Valley. And the Scandinavian founders of new online video service Joost -- Janus Friis and Niklas Zennstrom -- perhaps embody this new spirit best.

Wal-Mart Stores Inc. on Thursday reported a higher-than-expected 2.4 percent June rise in sales at its U.S. stores open at least a year, and the world's largest retailer said its second-quarter earnings forecast is attainable.

A fat tax on salty, sugary and fatty foods could save thousands of lives each year, according to a study published on Thursday.

U.S. home foreclosures fell in June after jumping to a 30-month peak in May, but default rates will escalate as a horde of mortgages resets at higher loan rates, real estate data firm RealtyTrac said on Thursday.

Gold edged higher on Thursday to trade below one-month highs, helped by a record low dollar, but the market was disappointed with the metal's slow upward move.

Anglo-Australian miner Rio Tinto Ltd/Plc has agreed to buy Canada's Alcan Inc. for $38.1 billion to create the world's biggest aluminum producer, the two firms said on Thursday.

Japan's Nikkei average lost 0.36 percent on Thursday to log its lowest close in two weeks, weighed down by Tokyo Electron Ltd. and similar stocks after the company reported weak chip orders data a day earlier.

Stocks rose on Wednesday as a scarcity of profit warnings fueled optimism over the corporate reporting season, enabling the market to regain its footing after a sharp drop the previous session.

Embattled CBS news anchor Katie Couric said she sometimes wonders if she should have left NBC's morning show Today to join the CBS Evening News, where she succeeded male broadcasting legends.

Despite lukewarm reviews, millions are expected to catch the latest film about the boy wizard.

The video game industry's new champion-in-chief said on Tuesday he will fight a perception that games are a menace to society by playing up their creative and technical achievements.