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U.S. jobless claims jump, retail sales edge down

The number of U.S. workers drawing unemployment benefits hit a record in February as companies struggle with a 14-month recession, data showed on Thursday, but a slight easing in retail sales last month offered cautious optimism.

Stage set for Madoff plea, fraud victims in NY court

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Bernard Madoff, accused of running the biggest fraud in Wall Street history, is expected to plead guilty on Thursday in what is shaping up to be a courtroom drama featuring denunciations by investors and a renewed push by prosecutors to jail him immediately.

U.S. retail sales edge down, jobless claims jump

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The number of U.S. workers drawing unemployment benefits hit a record in February as companies struggle with a 14-month recession, data showed on Thursday, but a slight easing in retail sales last month offered cautious optimism.
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Madoff arrives for plea on massive fraud

Bernard Madoff, accused of running the biggest fraud in Wall Street history, is expected to plead guilty on Thursday in what is shaping up to be a courtroom drama featuring denunciations by investors and a renewed push by prosecutors to jail him immediately.
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U.S. retail sales fall 0.1 percent

Sales at U.S. retailers fell by a smaller-than-expected margin in February after a surprise gain the prior month, as a rise in gasoline prices limited the impact of slumping vehicle sales, a government report showed on Thursday.
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Stock futures cut losses

Stock index futures sharply cut losses on Thursday as news of a proposed takeover in the biotechnology sector tempered caution before data that investors fear may show more weakness in consumer spending and the labor market.
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BRIC countries to meet ahead of G20: source

Finance ministers and central bankers from Brazil, Russia, India and China will convene ahead of the Group of 20 finance chiefs' meeting in London on Friday, a Russian delegation source told Reuters on Thursday.
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Pessimism too high, time to buy: Mobius

Veteran fund manager Mark Mobius sees a potential 20 percent rise in emerging market stocks in 2009 and views extreme investor pessimism as a signal to gradually start buying equities.
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Nortel in talks to break itself up: report

Ailing telecom equipment maker Nortel Networks Corp, which filed for bankruptcy protection earlier this year, is looking to break itself up by selling off major divisions, the Globe and Mail reported on Thursday.
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Asian shares retreat as rally proves fleeting

Japanese shares fell more than 2 percent on Thursday and other Asian markets were on the defensive as confidence in a rally this week proved fleeting in light of a shaky global economy and financial system.
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World economy seen shrinking as G20 meeting looms

The global economy may shrink 1-2 percent this year, World Bank President Robert Zoellick said, as revised Japanese data confirmed the world's No. 2 economy suffered its deepest slump since the oil shock of 1974.
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Stage set for Madoff plea in New York court drama

Bernard Madoff, accused of running the biggest fraud in Wall Street history, is expected to plead guilty on Thursday in what is shaping up to be a courtroom drama featuring denunciations by investors and a renewed push by prosecutors to jail him immediately.
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Receiver won't release Stanford client names

The court-appointed receiver overseeing Texas billionaire Allen Stanford's financial empire will keep the names of investors confidential, a relief to Latin Americans who fear they could be targeted by criminals, a lawyer said on Wednesday.
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Madoff mysteries remain as he nears guilty plea

Bernard Madoff is set to admit he orchestrated Wall Street's largest fraud on Thursday, but there are still big questions about the case, including whether anyone else will face criminal charges.
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FDIC says U.S. toxic asset plan means taxpayer profits

A U.S. government plan for a public-private investment fund to buy distressed assets to help clean up banks' balance sheets is likely to generate a healthy profit for taxpayers and investors, the head of the Federal Deposit Insurance Corp said on Wednesday.
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World's richest not so rich, Gates regains top spot

Microsoft Corp founder Bill Gates is the richest man again, overtaking investor Warren Buffett, as the global financial meltdown wiped out $2 trillion from the net worth of the world's billionaires, Forbes Magazine said on Wednesday.
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Freddie Mac posts $23.9 billion loss, needs capital

Freddie Mac, one of the two main U.S. mortgage companies that the U.S. government is depending on to help stabilize the housing market, said on Wednesday it needs $30.8 billion from the Treasury to survive after a massive fourth-quarter loss.
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Freddie Mac posts $23.9 billion loss

Freddie Mac, a top mortgage finance company the U.S. government is depending on to help stabilize the housing market, said on Wednesday it needs $30.8 billion from the Treasury to survive after a massive fourth-quarter loss.
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Google to target ads based on online activity

Google Inc will begin to aim online ads at people based on their Web browsing history, joining an industry trend that has raised privacy concerns even as it makes product pitches more effective.

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