UNITED STATES

Europe's debt crisis poses a potentially serious risk to the U.S. economic recovery because it threatens global credit markets and large American banks, a top Federal Reserve official said on Thursday.

U.S. oil prices fell sharply on Thursday on worries that fiscal problems in Europe could stifle global economic growth and energy demand.

The U.S. Federal Communications Commission for the first time since 2002 did not describe the wireless industry as having effective competition, a situation one senior regulator blamed on consolidation.

NEW YORK (Reuters Life!) - Ever wonder why overhearing a cellphone conversation is so annoying? American researchers think they have found the answer.

New claims for state jobless benefits unexpectedly rose last week for the first time since early April, suggesting the labor market recovery may have hit a speed bump.

Stocks sank nearly 4 percent on Thursday on growing fears the euro zone's efforts to tackle its sovereign debt crisis will fall short, jeopardizing the global economic recovery.

Corrects spelling of researcher's surname

Since last Wednesday, May 12, natural gas spot prices generally rose at market locations across the lower 48 States, with only a few exceptions. The Henry Hub natural gas spot price increased about 2 percent since last Wednesday, from $4.18 per million Btu (MMBtu) to $4.28 per MMBtu.

The fiscal tightening from Japan, euro zone, and the United States will lead to slower growth and lower inflation, which is leading to added selling pressure on world financial markets on Thursday, the manager of the world's biggest bond fund said.

Stocks dropped on Thursday, driving indexes down more than 2 percent on growing fears that the euro zone's handling of its sovereign debt crisis could jeopardize the global economic recovery.

Democrats expect to have the votes needed on Thursday afternoon to advance the biggest overhaul of financial regulation since the 1930s, paving the way for a final Senate vote on passage.

Top U.S. office products retailer Staples Inc gave a lackluster outlook for the rest of its fiscal year and reinforced growing industry expectations for a slower U.S. economic recovery.

The leaders of Germany and France pledged on Thursday to work together on financial regulation and the euro zone crisis after European discord over debt and new market rules rattled investors worldwide.

New claims for state jobless benefits unexpectedly rose last week for the first time since early April, suggesting the U.S. labor market recovery may have hit a speed bump.

Europe's debt crisis poses a potentially serious risk to the U.S. economic recovery because it threatens global credit markets and large American banks, a top Federal Reserve official said on Thursday.

France unveiled plans on Thursday to add a German-inspired commitment to cutting its budget deficit to its constitution, as European discord over debt and financial regulation rattled global markets.

Regulators are examining the activities of large traders and are reviewing the role of electronic trading platforms as they search for answers to the market's recent swoon.

Competition in the U.S. wireless industry has eroded and is worsening due to continuing consolidation and concentration among companies, Federal Communications Commission member Michael Copps said on Thursday.

U.S. consumers are less interested in buying a foreclosed home than they were a year ago, which could slow a housing market rebound as banks prepare to sell a record number of repossessed properties, according to a survey released on Thursday.

The overall health of the U.S. banking industry improved in the first quarter as net income set a two-year-high of $18 billion, but the largest firms enjoyed a disproportionate share of the gains.

The overall health of the U.S. banking industry improved in the first quarter as net income set a two-year-high of $18 billion, but the largest firms enjoyed a disproportionate share of the gains.