New U.S. jobless claims unexpectedly rise last week
The number of U.S. workers filing new claims for jobless benefits unexpectedly rose last week, a government report showed on Thursday, fanning worries of an anemic recovery from the worst recession in 70 years. Read Full Article here.
Germany agrees plan to lead electric car market
German Chancellor Angela Merkel's cabinet on Wednesday agreed a plan to get a million electric cars on Germany's roads by 2020 and transform the country into the world's top electric car market. Read Full Article here.
Key players in GM Opel chase to meet: source
The heads of Canada's Magna and Russian partner Sberbank will meet their General Motors counterpart on Thursday, a person close to the matter said, as decision time nears on the sale of GM's Opel business. Read Full Article here.
Switzerland turns a profit on UBS stake sale
Switzerland sold its stake in its largest bank, UBS, for 5.5 billion Swiss francs ($5.1 billion), a source said on Thursday, making a profit from last year's rescue deal. Read Full Article here.
YouTube co-founder backing new U.S. F1 team
YouTube co-founder Chad Hurley is putting some of his fortune into Formula One as primary investor in the new U.S. F1 team due to enter the sport next season. Read Full Article here.
Heinz, Hormel beat estimates as more eat at home
Packaged food makers H.J. Heinz Co and Hormel Foods Corp both posted better-than-expected quarterly profits as consumers bought more items like ketchup and Spam as they increasingly ate at home to save money. Read Full Article here.
Gamers face real weather in new sports simulations
If it's raining outside or hurricane season is in full swing, it won't just be real-life sports games affected but also sports video games with real-time weather starting to impact virtual players. Read Full Article here.
BofA's Countrywide loses court ruling on mortgages
A federal judge has ruled that Bank of America Corp cannot have a lawsuit by investors seeking to force it to buy back mortgages heard in federal court, saying he lacks jurisdiction to decide the case. Read Full Article here.
Sears posts loss as housing market woes weigh
Sears Holding Corp reported a quarterly loss on Thursday as the retailer continues to suffer from the crash of the U.S. housing market. Read Full Article here.
Seven arrested in suspected carbon tax fraud
The British tax office arrested seven people in London on Wednesday in a suspected 38 million pounds ($62.6 million) value-added tax fraud in the European market in carbon allowances, it said. Read Full Article here.