The claim that higher taxes would cause top earners to work less and take fewer risks is supported neither by theory nor evidence.

A Hollinger internal investigation found no proof that the board approved most noncompete payments to Conrad M. Black or two others on trial.

The International Monetary Fund cut its forecast for economic growth, citing a weakening housing market.

FT.com - Japanese stocks fell on Thursday morning on fears about the US economy and a rise in oil prices.

US Federal Reserve members see inflation as the biggest risk to the US economy, minutes show.

An industrial dispute in West Bengal state halts production of India's famous Ambassador cars.

Broadcaster SMG announces plans to float Virgin Radio on the stock exchange as an independent company.

The private equity consortium that had been looking to buy Sainsbury's says it is no longer going to make an offer.

Reuters - Nestle SA , the world's largest food company, confirmed a $5.5 billion cash deal to buy U.S. baby-food maker Gerber from Novartis AG , furthering its push into the nutrition business.

AFP - South Korea's central bank on Thursday left its key interest rate unchanged for the eighth straight month, amid a cooling property market and subdued inflationary pressure.

A revolt over the pay package of outgoing BP chairman Lord Browne is expected at the company's AGM.

Research In Motion, the maker of Blackberry, sees earnings boosted by customer growth, but faces a stock options probe.

A failed legal bid to reduce a fine imposed for the fixing of football shirt prices eats into profits at JJB Sports.

Reuters - Nestle SA, the world's largest food company, is to buy U.S. baby-food maker Gerber from Novartis AG for $5.5 billion, confirming a long-awaited deal to grow its nutrition business.

Reuters - Nordic bourse operator and technology firm OMX said on Thursday it was in cooperation talks with several exchanges although it had not received any bids, and its shares rose more than 13 percent.

Reuters - The launch of new drugs and an increase in the number of people diagnosed with HIV is set to make AIDS medicine a $10.6 billion market by 2015, according to a report on Thursday.

Reuters - Costco Wholesale Corp. said on Thursday its comparable sales increased 6 percent in March.

FT.com - Japanese stocks fell Thursday on fears about the direction of the US economy and of a rise in oil prices.

Plans to cut the cost of mobile phone calls between EU states progress with a key European Parliament vote.

Nestle, the world's largest food group, is to buy US baby food firm Gerber from Novartis for $5.5bn.

The US warns that it expects no 'breakthrough' as four-day world trade talks begin.

The UK's trade deficit widened by more than expected in February as imports rose and exports outside the EU fell.

Shows such as Doctor Who and Dancing on Ice earn the British TV industry £593m overseas in 2006, figures show.

A price war transatlantic flights looms after an airline offers a London to New York service for £129 one-way.

Research In Motion, the maker of Blackberry, sees earnings boosted by customer growth, but faces a stock options probe.

India's largest private airline Jet Airways buys rival Air Sahara, giving it a third of the domestic market.

Reuters - Nestle SA , the world's largest food company, will buy U.S. baby-food giant Gerber from Novartis AG for $5.5 billion in cash, becoming the world's biggest baby food company.

Reuters - Home furnishings retailer Pier 1 Imports Inc. on Thursday reported a larger quarterly loss and lower sales.

Reuters - Oil stocks in consumer nations posted the biggest first-quarter drop in a decade and may fall further in coming months, the International Energy Agency said, keeping the heat under crude prices.

Reuters - Retailers reported stronger-than-expected March sales on Thursday, helped by this year's earlier Easter holiday.

Reuters - The number of U.S. workers filing new claims for jobless benefits unexpectedly jumped 19,000 last week, government data on Thursday showed in a report skewed by seasonal layoffs for school holidays.

Reuters - Magna International (MGa.TO) would make a "big commitment" in a possible joint bid for DaimlerChrysler's (DCXGn.DE) Chrysler division, a national newspaper said on Thursday.

Reuters - Stock index futures pointed to a weaker market open on Thursday after Federal Reserve officials said they remain worried about inflation, sparking concern about higher interest rates.

Reuters - Retailer Limited Brands Inc. said on Thursday it expects same-store sales in April to rise at a low-single-digit percentage rate, due to the shift in the Easter holiday this year.

A management reshuffling would make James Press, the director of North American operations, the highest ranking non-Japanese in the company?s history.

The deal fits with Nestlé?s focus on wellness and Novartis?s strategy of selling its noncore businesses.

World Bank President Paul Wolfowitz says he is sorry for 'mistakes' made over the pay and promotion of his partner.

BP shareholders approve a pay report which includes its outgoing chairman in a three-year incentive scheme.

The European Central Bank keeps key interest rates at 3.75%, indicating it may watch and wait over inflation.

Virgin Media launches a High Court action against BSkyB in a programming row between the UK broadcasters.

The makers of Pot Noodle recall some types of the snack after discovering cracks may have developed in packaging.

Reuters - Dow Chemical Co. said on Thursday that it had fired a top executive and a board member who were involved in unauthorized discussions about selling the company.

Reuters - Countrywide Financial Corp. , the largest U.S. mortgage lender, said on Thursday the amount of mortgages in its portfolio that are in foreclosure nearly doubled, amid a difficult U.S. housing market.

Reuters - Internet phone company Vonage Holdings Corp. said on Thursday its chief executive stepped down and it plans to cut jobs and costs, as it seeks to revive its struggling business.

Reuters - The number of U.S. workers filing new claims for jobless benefits jumped last week but the outcome was skewed by school layoffs, while soaring petroleum costs drove import prices to a 10-month high in March.

Reuters - Manufacturing is set for stepped-up growth as the year progresses, according to the Manufacturers Alliance/MAPI survey released on Thursday.

AP - The outlook for consumer spending turned hazy Thursday as warnings of weak sales ahead overshadowed better-than-expected March sales at many of the nation's big retailers.

The successor immediately announced plans to restructure the company and slash marketing costs.

Nordic bourse OMX denies reports that the US Nasdaq exchange has approached it with a $3.3bn takeover bid.

China's foreign reserves surges to $1.2 trillion (£607.4m) in the first three months of 2007, a state agency reveals

Reuters - Dow Chemical Co. , the largest U.S. chemical company, fired a top executive and a board member on Thursday, accusing them of engaging in unauthorized discussions about selling the company.

AP - The number of Americans filing new claims for unemployment benefits rose last week to the highest level in two months.

AP - The Arkansas Supreme Court ruled Thursday that a state judge was wrong to dismiss Wal-Mart's lawsuit to break a retirement deal with a convicted former executive, saying the world's largest retailer is entitled to have a jury hear its claims.

The company will measure viewing habits using cellphone tracking devices that recognize the sound of TV.

The deal fits with Nestlé?s focus on wellness and Novartis?s strategy of selling its noncore businesses.

US TV network CBS is to launch an online video channel after agreeing deals with 10 distributors, including Joost.

Reuters - The number of U.S. workers filing new claims for jobless aid jumped to the highest level in two months last week, while retailers warned of softer sales in April after a stronger-than-expected March, suggesting some weakness in the economy.

Reuters - Countrywide Financial Corp. , the largest U.S. mortgage lender, said on Thursday the share of its mortgage portfolio that faces foreclosure nearly doubled in March from a year earlier in a difficult housing market.

Reuters - Early 2007 has been marked by severe weather and public relations disasters at airlines like JetBlue Airways and US Airways Group , but the string of bad luck and blunders does not threaten a longer-term industry recovery, experts say.

A small town in eastern Germany showcases the strengths of a resurgent economy.

AP - Federal officials still can't give the all clear when it comes to the nation's pet food supply, though they assured lawmakers they're aggressively auditing stores and suppliers to make sure contaminated products have been removed.

CBS brought the week-long crisis over remarks by the radio host Don Imus to an end late this afternoon when it canceled the ?Imus in the Morning? program, effective immediately.

The F.D.A. rejected Arcoxia because of concerns that the drug could cause as many as 30,000 heart attacks a year if widely used.

Trade ministers from six leading industrial countries vow to agree a world trade deal by the end of 2007.

A jury begins its deliberations about their verdict in the insider trading trial of former Qwest boss Joseph Nacchio.

Search giant Google launches its online payments service, Google Checkout in the UK.

Workers such as police, teachers, nurses and firemen cannot afford to buy property in most UK towns, the Halifax bank says.

Reuters - A lawyer representing employees of Wal-Mart Stores Inc. who are suing the world's largest retailer for sexual discrimination is seeking information on whether his clients were among the targets of the company's controversial surveillance activities, according to a letter seen by Reuters.

Don Imus never caught a breath because he was in the gunsights of a 24-hour news cycle.

CBS yielded to pressure when it canceled ?Imus in the Morning,? ending a program that had been broadcasting for more than 30 years.

Two senior executives were fired for holding a series of secret meetings about selling the company in a leveraged buyout.

It appears that the company grew paranoid about its critics, and created a security operation that went too far.

Citigroup is close to buying a hedge fund as part of a deal that would put a former top executive at Morgan Stanley at the head of its alternative investments group.

With economic growth running at an annual pace of more than 8 percent, the attraction of investing in India is obvious.

The F.T.C. report found that online promotions and a proliferation of unrated DVDs has eroded the entertainment industry?s promise not to entice youth with violent fare.

Nielsen will release national ratings for TV viewing away from home in places like bars, hotels, gyms and offices.

The former chief executive of Computer Associates will pay $800 million to investors who lost money because of the company?s accounting fraud.

Quality issues will delay the release, an uncharacteristic schedule slippage that is particularly embarrassing for Apple.

Shrugging off the recent rise in the euro, the bank?s president said inflation would be monitored very closely ? a phrase interpreted by financial markets to mean a rate increase in two months.

The world?s biggest food and drink company will have the largest share of the world?s baby food market.

The biotechnology, under pressure from investors to sell itself, could bring $45 to $50 a share.

An unexpected increase in unemployment claims suggests economic weakness, while rising import prices hints at more inflation.

The acquisition of the Brooks and Eckert drugstore chains could be completed by the end of May.

Thomas M. Coughlin was back in court as an appellate court took up a prosecutor?s plea that Mr. Coughlin?s sentence was too light.

Stocks resumed their advance as investors looked past higher oil prices and a somewhat cloudy picture for retail sales.

After about five hours, the jurors ceased deliberations and will resume on Friday.

Rising gasoline prices, a rougher housing market and the possibility of higher interest rates are likely to make the retail business even tougher.

Defense attorneys say an outside lawyer suggested that specific payments not be disclosed.

The home furnishings retailer will close 60 stores as sales drop off.

William M. Pastore will be succeeded by Salvatore Iannuzzi, who has served as chairman of the board?s executive committee since October.

Reuters - A Kohlberg Kravis Roberts-led consortium pursuing Australian retailer Coles Group Ltd. is considering partnering with a listed company in its bid, but no agreements have been reached, a source said.