Industry news
Retail Weakness Hampers StocksStocks fell amid further unsettling signals on employment and spending. A slide in Wal-Mart shares weighed on the Dow industrials.
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BOE Cuts Rates to 1.5%The Bank of England cut its key rate by half a percentage point to 1.5%, taking it to the lowest level since the central bank was founded in 1694.
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High Inventories Sap Oil PricesCrude-oil futures fell as high U.S. inventory levels, especially at the contract's delivery point, put a spotlight on weak demand.
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Treasurys Gains as Stocks SlideTreasurys maturing in at least five years eked out some gains Thursday morning as worries about economic growth pressured global stocks.
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Europe Stocks Track Overseas LossesEuropean stocks fell, tracking a steep drop on Wall Street overnight and losses in Asia. The French CAC-40 shed 1.4%.
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Tech and Energy Shares Slide in AsiaAsian technology, energy and financial shares led regional markets lower as concerns about the U.S. economy and corporate earnings were reignited. The Nikkei fell 3.9%.
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SEC Reopens Probe of Trading at PequotThe SEC has reopened a probe into possible insider trading of Microsoft shares by Pequot Capital.
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Kuwait Bank Defaults on DebtTop Kuwaiti bank Global Investment House said it defaulted on most of its $3 billion debt obligations, raising concerns that other Arab Gulf financial firms may follow as the world financial crisis is spreading to the region.
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Prosecutors: Madoff Is a 'Danger'Bernard Madoff poses a "danger," argued federal prosecutors, who said the Ponzi-scheme figure should go to jail after he mailed valuables to friends and family.
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RBS Mulls BOC Stake SaleRoyal Bank of Scotland said it is considering selling its 4.3% stake in Bank of China.
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Satyam Scrambles to Assess FinancesSatyam revealed it was strapped for cash and scrambled to assess its finances and ensure continuity of operations even as its chief financial officer resigned.
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Merckle Family to Sell RatiopharmAdolf Merckle's family plans to sell generic drug maker Ratiopharm after securing a bridge loan to prop up the teetering business empire.
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TD Ameritrade to Buy ThinkorswimTD Ameritrade agreed to acquire thinkorswim for $606 million in cash and stock, in a move to push further into the fast-growing options market and build up its investor education programs.
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OECD: Cleanse Banks of Bad LoansThe failure of the U.S. and European governments to remove bad loans from banks before they are recapitalized may prolong the financial crisis, the OECD said.
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SEC Nominee to Face Tough QuestionsMary Schapiro, Obama's pick for SEC chair, is likely to face some tough questions from senators next week on how she intends to reform the battered securities regulator.
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GMAC Sees Progress in Reshaping ResCapGMAC reiterated its support for mortgage unit Residential Capital, saying it has made "significant progress" in reshaping ResCap to better align it with current market conditions.
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Industry news provided by WSJ Online.
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Nasdaq turns up on Microsoft (Reuters)The Nasdaq turned positive to trade little changed on Thursday, helped by a rise in Microsoft Corp's shares, but the gloom from Wal-Mart's dim outlook kept the Dow and the S&P 500 in negative territory.
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More evidence of waning energy sinks crude prices (AP)Crude prices fell again Thursday on more evidence that the global economy is under strain and that energy demand for energy will fall further.
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Retailers report dismal December sales (AP)Retailers reported dismal sales figures for December on Thursday as even Wal-Mart Stores Inc., one of the bright spots in the industry, finally buckled under the pressures of the deteriorating economy.
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Ukraine sets conditions for Russian gas transit (AP)Ukraine's natural gas chief says he wants Russia to provide extra fuel to boost the flow of gas before his company can allow Russia to send the fuel back into a freezing European Union.
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DOE says natural gas supplies slid last week (AP)Natural gas storage levels in the U.S. fell less than expected last week and remain above the year-ago average, a government report said Thursday.
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News provided by Yahoo! Finance.
