IBT Staff Reporter

Copper fell over 5 percent today as the dollar rose against the euro, diminishing demand for commodities used to compensate for inflation.

CVS Caremark Corp., the largest U.S. pharmacy store chain, reported on Thursday that its first quarter profit soared 83 percent as sales increased following the acquisition of Caremark RX Inc last year.

Gold futures fell to a four-month low on Thursday as the dollar gained against the euro and dampened the investment appeal of the precious metal.

General Motors Corp. and Ford Motor Co., the two leading U.S. automakers said sales in April fell 16 percent and 12 percent respectively as high gasoline prices lower demand for trucks.

The Kuwait Investment Authority may boost its investments in Citigroup Inc and Merrill Lynch & Co, according to comments by the group's managing director.

Apple Inc. announced Thursday a new agreement with top Hollywood studios that will allow them to start selling movies through its iTunes Music Store on the same day as the titles are released on DVD.

Crude prices declined to $111 a barrel on Thursday as the dollar gained strength against the euro, easing demand for commodities.

U.S stocks picked up on Thursday following the release of mixed economic data, with the Nasdaq Composite leading the way up after Symantec Corp.'s strong earnings were announced.

Exxon Mobil, the world's largest publicly traded oil company, on Thursday posted a $10.89 billion first-quarter profit, boosted by surging oil prices.

The Home Depot Inc., the biggest U.S. home improvement retailer, said on Thursday that it will close 15 underperforming stores, impacting about 1,300 employees mostly in the Midwest U.S.

Willis Group Holdings Ltd. said on Wednesday a restructuring charge led its first quarter net income to fall to $166 million or $1.16 a share compared to $169 million or $1.10 a share in the same period in 2007.

British Airways PLC said on Wednesday that it is considering opportunities of cooperating with American Airlines Inc. and Continental Airlines Inc.

Merrill Lynch & Co is negotiating to hire the former head of Goldman Sachs' asset management division, Peter Kraus to a position overseeing strategy, according Bloomberg.

Microsoft's board of directors did not reach a final decision at a Wednesday meeting about what steps it should take in its bid for Yahoo, according to a report.

A majority of credit and risk management executives at the top 50 U.S. banks and credit card issuers say the current credit crisis is a manageable setback, according to new survey.

Alexion Pharmaceuticals Inc. reported a first quarter net loss of $4.2 million or 11 cents a share compared to $32.7 million or 92 cents a share the previous year. The loss is smaller than expected.

Sugar tumbled in New York following a decline of crude oil that raised speculation that demand for alternative fuels such as ethanol made from sugar cane would fall.

Kraft Foods Inc. the North American food maker, posted a better than expected first quarter profit as higher prices and new products helped sales of the company in a market where commodities such as wheat and oil were soaring.

Cablevision Systems Corp. plans to make an offer of up to $650 million to purchase Newsday from Tribune Co., according to media reports released Wednesday.

Coffeehouse giant Starbucks Corp on Wednesday reported a 28 percent drop in quarterly profit, and forecast its first annual earnings drop since 2000.

Copper futures rose after a report on Wednesday said U.S. gross domestic product gained more than expected in the first quarter.

XM Satellite Radio Holdings Inc. and Sirius Satellite Radio Inc. said Wednesday they have agreed to extend their merger agreement.

The dollar fell against major currencies on Wednesday after the Federal Reserve made an expected quarter point cut in its benchmark interest rate to 2 percent but left open the possibility to further rate cuts, raising concerns about inflation.

Gold futures rallied in electronic trading Wednesday, recovering losses from their decline in the regular session, after the Federal Reserve's announced its decision to cut the main U.S. interest rate by a quarter of a percentage point to 2 percent which boosted demand for the precious metal.

Factors Behind High Distillate Prices More Complex Than Gasoline With gasoline and diesel fuel prices continuing to rise at the retail pump, many consumers may be feeling they are taking a bath on fuel expenses. This feeling

The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 2 percent.

Members of the Rockefeller family, whose ancestor founded Exxon Mobil predecessor Standard Oil, are calling for the oil major to split the roles of chief executive and chairman, and to devote greater attention to new types of energy and environmental reforms.

Google added another feature, the Street View, to its Google Maps driving directions, allowing drivers to better understand the streets and intersections as they follow directions on the map.

Oil futures fell on Wednesday as the U.S. Energy Department reported today crude supplies rose more than expected.