UNITED STATES

Hartford Financial , the No. 4 U.S. insurer beset by worries about capital, won approval on Thursday to raise $3.4 billion via the government's bank bailout plan, sending its shares 6 percent higher.

Blockbuster Inc posted lower first-quarter profits, citing weak DVD titles and competition from a strong box office, and warned that same-store sales would continue to be lower in 2009. Its shares slid over 23 percent in after-hours trade.

Hartford Financial , the No. 4 U.S. insurer beset by worries about capital, won approval on Thursday to raise $3.4 billion via the government's bank bailout plan, sending its shares 6 percent higher.

Nike Inc , the world's largest maker of athletic shoes and apparel, will slash 5 percent of its 35,000-strong global workforce, or 1,750 jobs, in the largest headcount reduction in the company's history.

(Correcrts third paragrah to indicate approximately 6,800 workers are at headquarters)

U.S. sales of video games fell 17 percent in April to $1.03 billion, research group NPD said on Thursday, the second steep monthly decline in a row.

General Motors Corp said on Thursday night it would most likely pursue the same legal strategy as Chrysler if it spirals into bankruptcy, while Chrysler unveiled details for slashing its dealer network.

Toyota is moving toward launching experimental plug-in hybrid vehicles in Europe in 2009 as part of a three-year lease trial, ahead of rival GM, which plans to introduce its own version in late 2010.

Blockbuster Inc posted lower first-quarter earnings but beat expectations as the top U.S. movie rental chain reined in spending.

Coca-Cola announced Thursday it would test a new plastic bottle in North America partially made from plants.

Top U.S. movie rental chain Blockbuster Inc posted lower first-quarter profits on Thursday and warned that same-store sales would continue to be lower in 2009, but said it was still comfortable with its prior full-year outlook.

President Barack Obama raised the prospect on Thursday that China and other nations could stop buying U.S. debt and said the United States needed to tackle its deficit to avoid long-term economic damage.

Wells Fargo & Co., whose chief executive previously said the bank did not need or want a $25 billion infusion from the government last year, said on Thursday it is set to make its next quarterly dividend payable to the U.S. Treasury on Friday.

International Energy Agency on Thursday said global demand in oil consumption will fall 3% in line with the OPEC agreements rising prices due to sentiment rather than supply and fundamentals demands.

Stocks rose on Thursday as investors returned to financial and technology shares on bets the recent rally could have more room to grow after a brief pullback.

The Obama administration moved on Wednesday to exert more control over the shadowy over-the-counter derivatives market, now closely linked to the global credit crisis.

The map below demonstrates the chickenpox impact that just the initial round of Chrysler dealer shutdowns will have on the US economy. As is evident from the map (an interactive version of the map can be accessed here), the pain will be focused east of the Rockies, although major West Coast metropolises will not be spared either: every dot represents an automotive dealer that Chrysler disclosed to...

U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March, RealtyTrac said on Wednesday.

The number of U.S. workers filing new claims for jobless benefits rose last week, Labor Department data showed on Thursday, largely pushed up by auto plant shutdowns related to Chrysler's bankruptcy.

Documents made public on Wednesday confirm former U.S. Treasury Secretary Henry Paulson gave nine major banks no choice but to allow the government to take equity stakes in them as the Bush administration moved to address turmoil in the financial industry.

Adoption of new technology could lower total energy consumption of US by 2030 according to a study released today by the American Council for an Energy Efficient Economy (ACEEE).