IBT Staff Reporter

Microsoft Corp. said on Thursday that it would launch an updated version of its Xbox 360 game console on October 11 in Japan as it competes against rival products from Japanese favorites, Nintendo and Sony.

Jones Apparel Group has a new, bigger bid for its Barney’s unit.

Luggage company Samsonite Corp. said it agreed to be acquired by CVC Capital Partners Ltd. For $1.1 billion on Thursday.

Shares of Hilton Hotels Corp. skyrocketed in Thursday trading after the hotel firm said late Tuesday to be acquired by private equity giant Blackstone Group for $26 billion, including debt.

JAL President Haruka Nishimatsu said Wednesday the company is considering ways to make job cuts ahead of schedule and also reduce retirement benefits by 10 percent, according to Japanese daily Nikkei.

Nissan Motor Co. and Mitsubishi Motors Corp. are looking to boost their exports SUVs and midsize sedans from U.S. factories to Middle East and Russia due to increased demand, reported Nikkei on Thursday.

U.S. Treasury debt prices fell on Thursday, following the lead of weaker euro zone debt and after stronger-than-expected U.S. data on jobs and the services sector.

As Europe's workers take a few weeks of holiday this summer, their American colleagues will be lucky to get a few days off work, says a report published by the European Trade Union Institute.

The dollar rose on Thursday, erasing earlier losses against the euro after a gauge of activity in the U.S. services sector beat forecasts for the month of June.

Toyota and Ford, two of the world's three largest auto makers, reported strong first-half sales in China's fast-growing market, where as relative newcomers they are competing to roll out new models to attract customers.

Stocks fell on Thursday as rising bond yields fueled concern about a $20 billion buyout of Hilton Hotels Corp. General Motors Corp. dragged on the Dow. The largest U.S. automaker's shares fell after a steeper-than-expected drop in U.S. sales in June. On Thursday, Bear Stearns cut its recommendation on General Motors' stock.

Oil surged to another 10-month high above $74 a barrel on Thursday ahead of U.S. data that is expected to show refiners are processing more crude to meet robust summer gasoline demand in the world's top consumer.

Jones Apparel Group Inc. (JNY.N: Quote, Profile, Research) said on Thursday it received an unsolicited bid from Fast Retailing Co. Ltd. to acquire Barneys New York Inc. for $900 million, which tops Jones' existing pact to sell the upscale clothing chain for $825 million.

The Nomura Holdings Inc. group became the top securities underwriter, merger and acquisition adviser in value in the first half of 2007, according to Thomson Financial rankings covering transactions.

Australian fund manager Caledonia (Private) Investments Pty. Ltd. said on Thursday it would vote against Chicago Mercantile Exchange Holdings Inc.'s US$10.5 billion offer to buy CBOT Holdings Inc.

The euro hit a record high versus the low-yielding yen on Thursday, boosted by expectations that the European Central Bank will keep interest rates on hold later in the session but pave the way for a rise in the coming months.

Shares of Apple Inc. rose more than 4 percent to an all-time high on Thursday as investors bet on strong demand for its media-playing iPhone and speculation mounted over plans to sell the device in Europe.

Dell Inc., the world's second-largest computer maker, said on Thursday it will soon start selling its laptops and desktops at Asian retail chains and stores.

Zimbabwe authorities ordered businesses on Thursday to stop selling basic goods in bulk to avert shortages after an official price freeze triggered a frenzied buying spree that has emptied most shop shelves.

A deal could be off, as the U.S. stepped up criticism of India and Brazil over failed talks

Interest rates dominated market sentiment on Thursday with decisions due from the Europe Central Bank and Bank of England, putting stocks, bonds and currencies on edge.

Gold was little changed on Thursday as traders adjusted positions following gains this week, with precious metals in general supported by lingering security concerns and strength in energy prices.

Chrysler Group, owner of the Jeep and Dodge brands, reported Tuesday that June sales dropped on continuing slower sales of its larger vehicles.

Google Inc. (NASDAQ: GOOG) announced Tuesday that it had acquired GrandCentral Communications, a start-up Internet-based phone service.

German software maker SAP AG (NYSE: SAP) said on Tuesday that one of its units had made “inappropriate” downloads, as the company formally responds in a court filing to a lawsuit by U.S. rival Oracle Corp. (Nasdaq: ORCL).

French food giant Groupe Danone said on Tuesday that it is in exclusive talks to sell its global cookie business to U.S. rival Kraft Foods, Inc. (NYSE: KFT) for $7.2 billion in cash.

Apple, Inc.'s (NASDAQ: AAPL) new iPhone could deliver a 55 percent profit for every phone sold according to new findings by market research firm, iSuppli.

Organizers want to set a new standard for recycling mountains of trash and gases generated by the events.

BMW, the world's largest premium carmaker, and its closest rival, Mercedes-Benz, are in negotiations over a partnership to build subcompact cars, German motor magazine Auto Bild reported.