Reuters – U.S. crude oil futures deepened losses
to nearly $5 Thursday afternoon after traders shrugged off
weekly inventory data showing a surprisingly large drawdown in
domestic crude supply.
Reuters – General Motors Corp said on
Thursday about 19,000 U.S. factory workers — just over a
quarter of its American blue-collar work force — had taken
buyouts to leave the automaker.
Reuters – Bear Stearns Cos Inc Chairman
James Cayne told employees and shareholders he was sorry for
the demise of the 85-year-old investment bank, as shareholders
voted on Thursday to sell the company to JPMorgan Chase & Co
for less than $10 a share.
AP – The economy plodded ahead at a 0.9 percent pace in the first quarter slightly better than first estimated but still underscoring caution on the part of consumers and businesses walloped by housing, credit and financial problems.
Reuters – WASHINGTON (Reuters)- The economy grew a bit faster than
first thought in the first quarter as demand for foreign goods
fell and commercial building picked up, adding to evidence that
the United States may stave off recession.
Reuters – New York City’s financial sector might
only slice 15,000 to 25,000 jobs in the current downturn, which
could prove shorter than the mayor has predicted, the city
comptroller said on Thursday.
AP – Retailer Sears Holdings Corp. posted its second quarterly loss since Kmart acquired Sears stores in 2005, saying Thursday that it lost $56 million in the first quarter and fell far short of Wall Street forecasts.
