UNITED STATES

The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, but the seasonally adjusted data was again distorted by an unusual pattern of automotive industry layoffs that amplified the drop.

The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, but the seasonally adjusted data was again distorted by an unusual pattern of automotive industry layoffs that amplified the drop.

Distributor of automotive replacement equipment Uni-Select Inc said it would sell assets of its heavy duty group, generating about C$22 million ($19.66 million) in cash.

The Dow industrials and Nasdaq dipped into negative territory while the S&P 500 fell further after a survey showed factory activity in the U.S. Mid-Atlantic region contracted for a 10th consecutive month in July, adding to worries about the economy's strength.

Stocks opened lower on Thursday as investors turned cautious following a jump in quarterly profit at JPMorgan Chase & Co and a steep fall in jobless claims, a day after Wall Street tallied its biggest three-day gain since March.

JPMorgan Chase & Co posted a higher quarterly profit on Thursday, topping Wall Street estimates, as strength in its core consumer and investment banking businesses offset a jump in credit losses.

JPMorgan Chase & Co said record investment banking fees helped drive a 36 percent rise in quarterly profit, topping Wall Street forecasts, but warned that credit quality in consumer mortgages and credit cards is deteriorating faster than it expected.

Stock index futures pointed to a mixed open on Thursday as investors turned cautious following a jump in quarterly profit at JPMorgan Chase & Co and a steep fall in jobless claims, a day after Wall Street tallied its biggest three-day gain since March.

The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, the government said on Thursday, but the data was distorted by an unusual pattern of automotive industry layoffs that amplified the drop.

Two badly damaged black box flight recorders have been recovered from an Iranian airliner that crashed and killed all 168 people on board, official media said on Thursday.

The number of U.S. workers filing new claims for state jobless benefits fell sharply latest week to the lowest level since January as many auto layoffs were postponed, the Labor Department said Thursday.

U.S. motorcycle maker Harley-Davidson Inc's quarterly profit fell sharply, as bikers put off new purchases. It also slashed its 2009 shipment forecast and said it would cut another 1,000 jobs.

Oil dipped below $61 a barrel on Thursday after gaining more than 3 percent in the previous session, as investors remained cautious about the pace of economic recovery despite strong growth numbers from China.

CIT Group Inc , a lender to hundreds of thousands of small and mid-sized U.S. businesses, said bailout talks with the government had ended, a development that could ultimately drive the company into bankruptcy.

Jobless claims, JPMorgan results Paulson on the Hill, Earnings continue

Chinese solar panel maker Yingli Green Energy Holding Co Ltd said on Wednesday it is opening two U.S. regional headquarters in New York and San Francisco, marking the company's latest bid to expand its business in North America.

The U.S. Department of Energy (DOE) took another step forward on the coal-fueled 275-megawatt FutureGen carbon capture and sequestration power project in Illinois, the DOE said in a release late Tuesday.

Top U.S. officials on Wednesday left open the possibility that China might not have to accept a hard cap on its greenhouse gas emissions under a new global climate change treaty.

JPMorgan Chase & Co said investment banking and trading drove a larger-than-expected 36 percent jump in quarterly profit despite a surge in credit card and loan losses that could worsen.

Wall Street expects Google Inc to report tepid revenue growth for the second quarter on Thursday amid a tough advertising market and a sharpened attack on its business by rival Microsoft Inc .

U.S. motorcycle maker Harley-Davidson Inc said on Thursday that its profit fell sharply in most recent quarter as the ugly economic environment soured consumer spending and sent bike sales sliding.