UNITED STATES

Stocks suffered their worst one-day percentage drop since October on Thursday as U.S. President Barack Obama proposed tough restrictions on banks that would squeeze profits.

The number of U.S. workers newly applying for unemployment benefits unexpectedly rose last week and regional manufacturing slipped in January, hinting at some slowing in the pace of economic recovery.

The S&P 500 index fell on Wednesday as stocks declined following President Barack Obama's announcement of his proposal for new bank regulations.

Skype users worldwide were unable to log in to their accounts on Thursday.

Shares of Blockbuster Inc tumbled 32 percent on Thursday, a day after the U.S. video rental chain announced a disappointing forecast and as concerns grew about its future viability.

Motorola Inc is letting consumers in China use Baidu Inc or others as default Web search services instead of Google Inc's service, even on phones using Google's Android software.

Oil prices fell more than 2 percent to a 2010 low around $76 a barrel on Thursday, after government data showed a sharp drop in U.S. refining activity to nearly its lowest level in 25 years, indicating weak demand for fuels.

Goldman Sachs Group Inc , under fire for gold-plated pay packages, cut average pay per employee by about a quarter from record 2007 levels, helping boost its profit to a record.

Shares of Blockbuster Inc tumbled 32 percent on Thursday, a day after the U.S. video rental chain announced a disappointing forecast and as concerns grew about its future viability.

U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.

The IT industry should see moderate growth of nearly 5 percent according to a new report.

U.S. stocks dropped on Thursday as President Barack Obama took a tough stance on financial institutions, proposing rules to make the system safer by preventing the biggest banks from taking excessive risks.

The U.S. Supreme Court ruled on Thursday that corporations can spend freely to support or oppose for presidential and congressional elections.

Continental Airlines Inc and Southwest Airlines Co results topped Wall Street estimates as more people booked flights and ticket prices rose, but the airlines said Thursday the path to recovery would be rough.

House Speaker Nancy Pelosi said on Thursday she did not think the Senate's version of healthcare reform had enough support to pass the House of Representatives without changes.

Hillary Clinton made unrestricted Internet access a US foreign policy priority, and urged China to investigate alleged cyber-attacks originating from its borders.

President Barack Obama proposed stricter limits on financial institutions' risk-taking on Thursday in a new populist-tinged move that sent bank shares tumbling and aimed to shore up the president's political base.

California has issues with federal attempts to weaken new vehicle pollution standards, but the state backed away on Wednesday from a report that it was threatening to pull out of a deal with U.S. President Barack Obama's administration.

Wall Street tumbled on Thursday after President Barack Obama proposed rules aimed at making the financial system safer by preventing the biggest banks from taking excessive risks.

Continental Airlines and Southwest Airlines results topped Wall Street estimates as more people booked flights and ticket prices rose, but the airlines said the path to recovery would be rough.

Factory activity slowed more than expected in the U.S. Mid-Atlantic region in January, paring expectations of manufacturing's role in helping a U.S. economic recovery, a survey showed on Thursday.