Aaron's Daily WWW Newspaper

NEW YORK (Reuters) - Forest Laboratories Inc's showdown with activist investor Carl Icahn should be resolved on Thursday, when shareholders meet to pick the drugmaker's new board of directors.

LONDON (Reuters) - History suggests the misery suffered by stock investors this summer should end soon, even if relying on precedent seems risky in this year of surprises.

(Reuters) - The global economy is "dangerously close to a recession," Morgan Stanley said and slashed its growth forecast for 2011 and 2012, citing recent policy errors in the U.S. and Europe and the prospect of further fiscal tightening in 2012.

(Reuters) - The Justice Department is investigating whether Standard & Poor's improperly rated dozens of mortgage securities in the years before the financial crisis, The New York Times reported on Thursday, citing sources familiar with the matter.

LONDON (Reuters) - The U.S. Federal Reserve Bank is taking a closer look at the U.S. units of Europe's biggest banks, concerned that a euro zone debt crisis could spill into the U.S. banking system, the Wall Street Journal reported.

BEIJING/SHANGHAI (Reuters) - Coca-Cola , the world's largest soft drinks producer said on Thursday it will invest $4 billion more in China over the next three years starting from 2012.

The number of people applying for unemployment benefits rose back above 400,000 last week. Still, the average number of applications over the past four weeks fell to its lowest level since mid-April. That suggests the job market may be improving.

A Finnish deal to get collateral from Greece to secure its rescue loans to the debt-ridden country has angered other eurozone nations and could complicate the implementation of the euro109 billion bailout.

U.S. stock futures followed global markets sharply lower Thursday on worries about the economy's health.

A new oil sheen has been found in the Gulf of Mexico, although oil giant BP said Thursday the discovery had nothing to do with its operations and was far from the site of its disaster-hit Macondo well.

The operator of Sears and Kmart stores said Thursday that it lost more money in the second quarter as it marked down items to clear shelves for fall merchandise.

U.S. Vice President Joseph Biden stressed the importance of personal ties as he met Thursday with his Chinese counterpart for talks that officials described as productive and optimistic about a resolution of U.S. economic woes.

British police made a new arrest Thursday in the country's tabloid phone hacking scandal, amid fresh scrutiny of Rupert Murdoch's media empire after newly disclosed documents appeared to contradict testimony his son and top aide gave to U.K. lawmakers.

Coca Cola Co. said Thursday it plans to invest $4 billion in China as food brands scramble to expand in its fast-growing consumer market.

J.M. Smucker Co. said Thursday its second-quarter net income rose 8 percent as the company raised prices in most categories to offset higher commodity costs.

Downbeat Japanese export and British retail sales figures renewed worries over the state of the global economy on Thursday and hit already fragile confidence in stock markets.

A new oil sheen has been found in the Gulf of Mexico, although oil giant BP said Thursday the discovery had nothing to do with its operations and was far from the site of its disaster-hit Macondo well.

A frequent contributor to a jihadist website has threatened David Letterman, urging Muslim followers to "cut the tongue" of the late-night host because of a joke the comic made on his CBS show.