IBT Staff Reporter

Ousted HealthSouth Corp. Chief Executive Richard Scrushy, acquitted two years ago in a major corporate fraud case, and former Alabama Gov. Don Siegelman were both sentenced to prison on Thursday for bribery.

The dollar strengthened against the low-yielding yen on Friday after the Federal Reserve reiterated its concern over persistent price pressures, suggesting little chance of an interest rate cut soon.

Apple Inc. Chief Executive Steve Jobs said on Thursday he is not too worried that its new iPhone mobile telephone will dampen sales of the popular iPod music and video players.

A tentative deal between News Corp. and Dow Jones & Co Inc. would give an independent board the power to approve the hiring and firing of top editors at The Wall Street Journal, three sources said on Thursday.

The U.S. economy grew slightly faster than previously estimated in the first quarter, but still at the weakest pace in more than four years and inflation was higher as well, data on Thursday showed.

KB Home, the No. 5 U.S. home builder, posted a quarterly net loss on Thursday, partly on land value-related charges that reflect the continuing decaying U.S. housing market.

Japanese teens in wizard costumes went into a frenzy at the premiere of 'Harry Potter and the Order of the Phoenix' on Thursday, cheering actor Daniel Radcliffe whose coming of age is a big story on- and off-screen.

Court ruled the U.S. bank's 'Chinese Walls' were not breached when it traded shares in a company it knew was a takeover target.

General Mills Inc. on Thursday said quarterly profit edged higher, though increased marketing spending and higher commodity costs tempered the increase.

Stock index futures pointed to a flat to slightly higher market open on Thursday ahead of a packed agenda that includes the latest interest-rate decision from the Federal Reserve.

Oil rose towards $71 a barrel on Thursday after a surprisingly steep decline in U.S. gasoline stocks revived supply worries during the height of the summer driving season.

Wine and spirits company Constellation Brands Inc. said on Thursday that quarterly profit fell sharply, hurt by a plan to cut the amount of wine it ships to U.S. distributors and lower results from its British business.

Gold steadied on Thursday after hitting three-month lows the previous day, but analysts were waiting for the outcome of a two-day Federal Reserve meeting that should steer financial markets in the short term.

The yen's three-day rally fizzled out on Thursday as a rebound in stocks eased concerns about the U.S. high-risk mortgage market and prompted investors to borrow the Japanese currency again to fund carry trades.

World stocks regained composure on Thursday after an almost week-long sell-off and the yen's rally fizzled out as investors dipped their toe back into risky assets, encouraged by a rebound on Wall Street.

Investors in two struggling Bear Stearns Cos. hedge funds that made bad bets on risky mortgages will almost surely file lawsuits in hopes of recouping losses, but legal experts say they could have a tough time proving their case.

Shares in Swiss-based food group Nestle surged on Thursday following a broker upgrade and after L'Oreal, the French cosmetics firm in which Nestle owns 21 percent, said it would pursue a share buyback plan.

CommScope Inc. announced on Wednesday that it is buying rival communications equipment maker Andrew Corp. for $2.6 billion, a year after a failed $1.7 billion bid.

Guitar Center Inc. said on Wednesday that it agreed to be acquired by private equity firm Bain Capital Partners LLC for $2.1 billion including assumed debt.

Stocks rose on Wednesday as investors snapped up beaten-down shares after a three-day slide and a nearly 2 percent jump in oil prices boosted demand for energy companies.

Video rental chain Blockbuster Incl said on Wednesday it had settled a patent dispute with rival Netflix Inc. that had challenged Blockbuster's entry into the online DVD rental business.

Europe's plan to limit greenhouse gases by creating a carbon market may fall short. Dirty coal is cheaper than oil.

Best Buy Co. Inc. said on Wednesday that it would open more North American stores than previously planned, buy back $5.5 billion in stock and raise its dividend 30 percent.

The commodity market bubble could burst at some stage and prices will tumble if the dollar stabilizes and China's banking system hits trouble, a fund manager told a conference on Wednesday.

CommScope Inc. plans to acquire rival communications equipment maker Andrew Corp. for about $2.6 billion to cut costs, the companies said on Wednesday, after failing to reach a deal a year earlier.

Russian airline Aeroflot pulled out of the bidding for Alitalia on Wednesday, leaving Rome's auction of the unprofitable airline in danger of collapse with just two players left.

Guitar Center Inc. said it agreed to be acquired by private equity firm Bain Capital Partners LLC for about $2.1 billion, including assumed debt.

Research firm NPD Group will provide Wal-Mart Stores Inc. and its Sam's Club unit with consumer tracking data, according to an agreement announced on Wednesday.

The EU said the merger of leading Irish airlines would destroy competition.