LIBYA

Rich nations could tap strategic oil reserves if needed to ward off the risk that Middle East political unrest triggers an inflationary price spiral, Treasury Secretary Timothy Geithner said on Thursday.

Fixes references to market strategist in paragraphs 5-6

Oil prices retreated from near 2-1/2 year highs on Thursday as traders took profits after Venezuela pitched a plan to resolve the Libyan crisis, despite deep skepticism about whether it would work.

U.S. stocks rallied on Thursday as stronger than expected initial jobless claims data and an easing of oil prices after reports of a possible peace deal in Libya buoyed sentiment.

The number of Americans filing new claims for jobless aid hit the lowest level in more than 2-1/2 years last week and service sector hiring picked up in February, signs the labor market recovery was quickening.

Rich nations could tap strategic oil reserves if needed to ward off the risk that Middle East political unrest triggers an inflationary price spiral, Treasury Secretary Timothy Geithner said on Thursday.

The director of the prestigious London School of Economics (LSE) has quit over the school’s connections to Libyan leader Moammar Gaddafi.

Gold fell nearly 1.5 percent on Thursday, snapping a four-day winning streak as indications the European Central Bank may raise interest rates to battle inflation dented bullion's investment appeal.

Following Nelly Furtado's initiative, singers Beyoncé and Mariah Carey said they will each return the $1 million they received for performing for Libya dictator Moammar Gaddafi's family.

Investors betting on a big gain in U.S. payrolls pushed Wall Street to its best one-day rally in three months on Thursday, but weak volume lingers as a concern for those hoping for another leg higher.

The number of Americans filing new claims for jobless aid hit the lowest level in more than 2-1/2 years last week and service sector hiring picked up in February, signs the labor market recovery was quickening. Another report on Thursday confirmed business productivity picked up a bit in the fourth quarter

Stocks were up solidly on Thursday as investors were convinced the latest batch of economic data and falling oil prices could be strong catalysts to move the market higher.

U.S. stocks were up solidly on Thursday as investors were convinced the latest batch of economic data and falling oil prices could be strong catalysts to move the market higher.

Oil prices retreated from near 2-1/2 year highs on Thursday as traders took profits after Venezuela pitched a plan to resolve the Libyan crisis, despite deep skepticism about whether it would work.

South Africa's rand retreated against the dollar on Thursday after jumping nearly two percent the previous day, while market anticipation of increased supply weighed on government bonds.

Muammar Gaddafi struck at rebel control of a key Libyan coastal road for a second day on Thursday but received a warning he would be held to account at The Hague for suspected crimes by his security forces.

U.S. stocks rallied in early trade on Thursday as stronger than expected initial jobless claims data and an easing of oil prices after reports of a possible peace deal in Libya buoyed sentiment.

Libyan leader Muammar Gaddafi has reportedly accepted an offer of mediation from Venezuelan President Hugo Chavez while an opposition group has rejected it, according to a report.

Gold and Silver Bullion prices fell sharply London lunchtime on Thursday, bouncing 1.5% and 2.3% below this week's record Dollar highs after European Central Bank president Jean-Claude Trichet said a Eurozone rate rise is possible next month.

The ongoing violence in Libya will cost Russia a $4-billion payday from an arms deal it had earlier agreed to with Moammar Gaddafi, according to the Interfax news agency, quoting Sergei Chemezov, head of the state holding company that controls arms exports.

U.S. stocks advanced in early trade on Thursday after official data showed that applications for jobless benefits in the U.S. fell unexpectedly last week to reach the lowest level since May 2008, indicating an improving labor market.