Create your own free news widgets.

WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits fell sharply last week, a government report showed on Thursday, boosting views the labor market and the economy were stabilizing.

Tim Hortons said its revenues rose to $556.1 million from $510.7 million year-over-year in the second quarter. Same-store sales, a measure of performance at outlets open at least 12 months, increased 1.7 per cent in Canada and 3.3 per cent in the U.S.

ITV signed off Friends Reunited sale less than two hours before interim results, at £10m more than recently suggestedMichael Grade today described ITV's £25m disposal of Friends Reunited as the 'best price we could get'.The sale of the social networking firm to Brightsolid, a DC Thomson subsidiary, was signed off at 5.01am today, less than two hours before ITV announced its interim results to the City.However, the price, while higher than the £15m suggested in recent reports on the progress of the Friends Reunited sale, still represented a £150m loss for ITV on what it paid in 2005 and in subsequent earn-outs.Grade, ITV's executive chairman, distanced himself from the acquisition, which was made under his predecessor, Charles Allen, but did not directly criticise that deal.'ITV bought it. This management team did not buy it,' Grade said. 'It was regarded at the time as a good price. But the market has changed dramatically. You may have noticed but there's a recession on. It's the best

(Telecompaper) Cisco reported revenues of USD 8.5 billion for its fiscal fourth quarter to 25 July, down 18 percent from a year earlier. Sales in the US fell 13 percent to USD 4.8 billion, revenues in Europe were down 19 percent to USD 1.7 billion, emerging markets sales declined 38 percent to USD 0.8 billion and Asia-Pacific sales were down 20 percent to USD 1.0 billion. Among customer groups, only consumers showed low single-digit growth in orders, while enterprise orders were still down around 30 percent and service provider orders were down in the high twentys. Net profit fell USD 1.1 billion or USD 0.19 per share, from USD 2.0 billion or USD 0.33 per share a year ago. Profits include a tax charge of USD 174 million or USD 0.03 per share and a charge for enhanced early retirement benefits of USD 138 million or USD 0.02 per share. Cash flow from operations was USD 2.0 billion, down from USD 3.5 billion a year ago, and Cisco finished the period with a total USD 35.0 billion in cash.

AC Milan are poised to complete the signing of striker Klaas-Jan Huntelaar from Real Madrid after both clubs agreed a fee, reported to be around $21 million, on Thursday.

Kuala Lumpur - A Malaysian student was allegedly forced to smoke 42 cigarettes after school authorities discovered a cigarette and lighter in his locket, a news report said Thursday. Mohamad Alif Arifin, 16, said he denied knowing how the cigarette g...

Israel's Kadima party shuts its website Wednesday after an attack by Palestinian hackers, reports say.

NEW YORK (Reuters) - U.S. stock index futures edged slightly higher on Thursday with investors eyeing a government report on weekly jobless claims and more corporate earnings, one day after Wall Street ended a four-day rally,

Boat capsizes in rough seas with 'considerable loss of life' reported by Australian prime ministerThe capsize of a ferry in rough seas between islands in Tonga has caused 'considerable loss of life', Australia's prime minister, Kevin Rudd, said today.Rudd was speaking at a meeting of South Pacific leaders in Sydney, almost 24 hours after the Princess Ashika turned over and sank during a night crossing between the Tongan capital of Nuku'alofa and outlying islands.About 50 people are listed as missing, many of them women and children. One body has been pulled from the sea.A survivor said the ferry overturned after a heavy swell apparently shifted cargo to one side.The Matangi Tonga news website reported that 96 people had been listed as travelling on the Princess Ashika and 50 of them - 23 passengers and 27 crew - survived.In another report, the website quoted one survivor, Siaosi Lavaka, as saying he had only seen male survivors in the lifeboats. 'No women or children made it,' he said,

Despite recent reports that the economy appears to be on the upswing, Canadians overwhelmingly believe we are still in some form of a recession, a new poll suggests.