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Obama faces daunting challenges in Far East tour

President Barack Obama has left Washington on his first major trip to Asia, where a surging China and newly assertive Japan are threatening to upend America's longtime role as keeper of the peace and trader-in-chief. (Associated Press Writer, 10:35 a.m.)

Dow Jones to sell its stake in Stoxx division

Dow Jones & Co. said Thursday it is selling its one-third stake in its Stoxx Ltd. unit for $309 million. (AP, 10:35 a.m.)

US banks prepaying $45B in insurance fees

U.S. banks will prepay about $45 billion in premiums to replenish a federal deposit insurance fund now in the red, under a plan adopted by federal regulators. (AP Business Writer, 10:35 a.m.)

Abbott buys pain drug candidate for up to $190M

Abbott Laboratories said Thursday it is buying a potential chronic pain drug from PanGenetics BV for as much as $190 million. (AP, 10:23 a.m.)

Ex-ESPN worker says Phillips harassed her

A former ESPN production assistant whose affair with broadcaster Steve Phillips led to their firings says she confronted his wife only so he would stop pursuing her. (AP, 9:33 a.m.)

WHO: Give at-risk groups anti-flu drugs early

Doctors should give anti-viral drugs to pregnant women and other at-risk groups as soon as they show clinical symptoms of swine flu to prevent them developing serious complications, the World Health Organization said Thursday. (Associated Press Writer, 9:33 a.m.)

Obama's pay czar concerned firms could lose talent

The Obama administration's pay czar said Thursday that he is "very concerned" about scaring away top talent at seven firms that took the biggest bailouts. (AP Business Writer, 10:03 a.m.)

'Call of Duty' game sells $310M in 24 hours

Activision Blizzard estimates that it sold about 4.7 million copies of its "Call of Duty: Modern Warfare 2" game worth $310 million in the first 24 hours in North America and the United Kingdom, making it the biggest-selling launch in the history of entertainment. (AP, 9:22 a.m.)

Intel to pay AMD $1.25B in legal settlement

Intel Corp. is paying $1.25 billion to Advanced Micro Devices Inc. , its largest rival in the market for computer processors, to settle all antitrust and patent suits, the companies said Thursday. (AP, 10:35 a.m.)

Intel to pay AMD $1.25B in legal settlment

'Call of Duty' game sells $310M in 24 hours

BA confirms board talks on Iberia merger deal

British Airways PLC and Spanish airline Iberia SA confirmed they are holding separate board meetings Thursday about a long-awaited merger, responding to feverish speculation that has sent the companies' shares soaring. (AP Business Writer, 10:23 a.m.)

Texas group warns of weaknesses at land ports

The country's understaffed land ports of entry need massive investments in infrastructure, technology and personnel to avoid becoming the path of choice for human and drug smugglers, according to a report released Wednesday by a border advocacy group. (Associated Press Writer, 8:11 a.m.)

Texas expected to harvest 4.9 million cotton bales

West Texas cotton producer Steve Smith continued to harvest Wednesday, happy that the weather on this end of the growing season is far better than its beginning. (Associated Press Writer, 8:11 a.m.)

BLM now collecting higher drilling application fee

A huge increase in the application fee for oil and gas companies to drill on federal land is unfair and won't speed up review of drilling permits, industry officials said Wednesday. (Associated Press Writer, 8:01 a.m.)

Israel signs $350 million drone deal with Brazil

Israel has signed a $350 million deal to supply dozens of unmanned surveillance aircraft to Brazil's national police, a defense official said Thursday. (Associated Press Writer, 7:51 a.m.)

United Technologies to buy GE's security business

United Technologies Corp. on Thursday said it will acquire General Electric Co.'s fire detection and security business for $1.82 billion. (AP, 9:13 a.m.)

Stocks rise as weekly jobless claims fall

Stocks turned higher after an early stumble Thursday as news of an improving job market stirred hopes of an improvement in the economy. (AP Business Writers, 10:23 a.m.)

Higher oil prices seen threatening global recovery

Rising oil prices could imperil a modest increase in crude demand and the recovery of the global economy, the International Energy Agency said Thursday as it raised its outlook for oil demand this year. (Associated Press Writer, 6:55 a.m.)

Telefonica profits down 0.6 pct

Spanish telephone company Telefonica SA said Thursday its 3rd quarter net profit dipped 0.6 percent compared to the same period of last year as the company took in less revenue in a recession-plagued economy. (AP, 6:55 a.m.)

Syngenta acquires 2 seed companies in California

Swiss agrochemicals company Syngenta AG said Thursday it has acquired two lettuce seed companies based in California. (AP, 6:55 a.m.)

Urban Outfitters 3rd-quarter profit up 5 percent

Apparel retailer Urban Outfitters Inc. said Thursday profit rose 5 percent, as higher sales at its Anthropologie chain helped offset weaker results at its Urban Outfitters and Free People stores. (AP, 6:41 a.m.)

Ahead of the Bell: Federal Budget

The federal deficit is expected to hit $150 billion for the first month in the new budget year, headed toward another $1 trillion-plus tide of red ink. Economists worry such deficits could push up interest rates, adding a further drag on the fragile economic recovery. (AP, 6:35 a.m.)

Ahead of the Bell: Jobless Claims

Economists expect the number of newly laid-off workers seeking unemployment benefits fell slightly last week as job cuts continue to slowly decline. (AP, 6:35 a.m.)

Medvedev urges modernization of Russian economy

Russia needs to shed its dependence on exports of raw materials and to build a new high-tech economy to survive, President Dmitry Medvedev said in his annual state-of-the-nation address Thursday. (Asssociated Press Writer, 5:40 a.m.)

China hints at yuan rise ahead of Obama's visit

China signaled Thursday that it's ready to allow its currency to rise just days ahead of a visit by President Barack Obama. (AP, 5:25 a.m.)

Eurozone industrial output up modest 0.3 percent

Industrial production in the 16 countries that use the euro increased a modest 0.3 percent in September from the month before, reinforcing expectations that growth figures on Friday will show the recession in the single currency over. (AP Business Writer, 6:41 a.m.)

Report: Motorola looking at selling unit

Motorola Inc. is seeking to sell its largest division, which makes equipment for cable and wireless companies, according to a report Wednesday. (AP, 5:11 a.m.)

Disney shuffles deck at struggling studio

Marking a renewed focus on the proliferation of ways that movies are delivered to consumers, The Walt Disney Co. has elevated its home video chief to a new distribution role covering all formats. (AP, 5:01 a.m.)

Unions prod Obama to fix ailing airline industry

Three decades of airline deregulation have helped make air travel more accessible to consumers through lower fares. (Associated Press Writer, 6:55 a.m.)

AB InBev makes 3Q profit, but revenue down 10 pct.

The world's largest brewer Anheuser-Busch InBev SA said Thursday it made a $1.546 billion profit in the third quarter but that revenue fell 10 percent from last year, when the company was created in a merger, as beer sales shrank. (AP Business Writer, 3:21 a.m.)

Peugeot Citroen raises 2009 forecasts

French automaker PSA Peugeot Citroen said Thursday that it has revised its 2009 forecasts "significantly upward" after recent improvements in the automobile market look set to boost fourth quarter production. (AP, 3:05 a.m.)

Warming drives off Cape Cod's namesake, other fish

Fishermen have known for years that they've had to steam farther and farther from shore to find the cod, haddock and winter flounder that typically fill dinner plates in New England. (Associated Press Writer, 3:51 a.m.)

Ida further slows harvest for Southern farmers

The wind and rain from Tropical Storm Ida has compounded the misery for Southern farmers already coping with a delayed harvest season. (Associated Press Writer, 3:11 a.m.)

Australian jobs surge; jobless rate at 5.8 percent

Australia reported Thursday an unexpected surge in jobs last month in the latest sign the country's economy was accelerating quicker than expected out of the global downturn. (AP, 3:01 a.m.)

Bank of Korea keeps key rate at record low

South Korea's central bank left its key interest rate at a record low for the ninth straight month Thursday, pledging to maintain low borrowing rates to help extend a recovery in Asia's fourth-largest economy. (AP Business Writer, 5:11 a.m.)

Merrimack Valley Project uses strength in numbers to fight foreclosures

Methuen resident Danny Nunez spent months trying to negotiate a mortgage modification with his lender before receiving word that foreclosure proceedings had begun on his home. With his latest appeal denied just weeks ago, Nunez knew that he, his wife, and their three daughters could lose their home before the holidays. (Globe Correspondent, 12 a.m.)

Oil falls below $79 ahead of US supply report

Oil prices fell below $79 a barrel Thursday amid signs that U.S. crude demand remains weak and as the dollar strengthened, making commodities like oil more expensive for international investors. (Associated Press Writer, 7:53 a.m.)

HP's 3Com takeover marks a shot at Cisco

Hewlett-Packard Co.'s $2.7 billion takeover of 3Com Corp. is a shot at networking leader Cisco Systems Inc. -- and a sign of how old relationships are being frayed by a flurry of maneuvers by technology heavyweights. (AP Technology Writer, 12:20 a.m.)

Foreclosures dip 3 pct. in October from September

The number of homeowners on the brink of losing their homes dipped in October, the third straight monthly decline, as foreclosure prevention programs helped more borrowers. (AP Real Estate Writer, 12:20 a.m.)

GM needs new Buick Regal, Chevy Cruze to be hits

Two General Motors cars due in showrooms next year must be hits to help the automaker turn around sales and pay back its big debt to U.S. taxpayers. (AP Auto Writer, 12:51 a.m.)

Booming precious metal prices drive gold rush

Gold futures climbed to a new high Thursday, giving another nudge to the gold rush on Main Street as some people scramble to turn in their old jewelry for cash. (AP Personal Finance Writer, 7:21 a.m.)

Americans may be settling into spending less

Americans spent about the same amount in October as in August and September, according to figures released Thursday by a key data service, and they may be settling into new low-spending habits. (AP Retail Writer, 7:31 a.m.)

Foreclosures dip 3 pct. in October from September

APEC ministers plot ways to sustain recovery

Asia-Pacific nations pledged Thursday to embrace more flexible exchange rates and stable growth strategies as economies start to scale back their stimulus spending after the global downturn. (Associated Press Writer, 6:41 a.m.)

Asian markets slip as rally peters out

Asia's four-day stock market rally petered out Thursday as investors turned cautious. The markets rose in early trading following another gain overnight on Wall Street and news that South Korea left its key interest rate at a record low, signaling that most Asian central banks are in no hurry to raise borrowing costs. Australia also reported an unexpected surge in ... (Associated Press Writer, 1 a.m.)

Blackout raises fears about Brazil infrastructure

Government leaders are defending the reliability of Brazil's power grid after a huge blackout left nearly 60 million people in the dark and raised concerns about its ability to guarantee electricity for a surging economy. (Associated Press Writer, 2:15 a.m.)

World markets subdued as S&P heads for 1,100

European stock markets rose modestly Thursday as investor optimism was dented by a subdued performance in Asia. Wall Street was expected to retreat after the Standard & Poor's 500 index failed to close above 1,100 the day before. (AP Business Writer, 6:41 a.m.)