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RBS profits up 11 percent

Royal Bank of Scotland, Britain's second biggest bank that is locked in a takeover battle for ABN AMRO, beat expectations with an 11 percent rise in profit and lifted its dividend by 25 percent.

Toyota Motor Corp.'s quarterly operating profit rose by a better-than-expected 32 percent as brisk overseas sales combined with a softer yen to make up for chronic weakness in domestic demand. Toyota, the world's biggest and most profitable automaker, left its cautious annual forecasts unchanged, as expected.

Stocks surge despite credit concerns

Stocks rallied late in the session on Thursday for the second day as enthusiasm about strong profits offset lingering credit concerns, although a modest flight-to-quality bid gave bond prices a slight lift.

Regulators tracking another insider trading ring

U.S. securities market regulators are pursuing a suspected insider trading ring that appears to have been operating in many stock and options markets over several months. Authorities said tracking the suspects has been a team effort among the major exchanges and federal regulators.

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U.S. biotech industry awaits Europe approval speedup

The U.S. biotechnology industry is awaiting this fall's deadline for Europe to speed up its approval of new biotech food and crops -- a process Washington has long complained is woefully slow -- in the hope of increased access to a major market.

Senate panel backs FDA oversight of tobacco

A U.S. Senate committee endorsed legislation on Wednesday allowing the Food and Drug Administration to regulate tobacco products, a proposal supported by public health groups and the nation's largest cigarette maker.

Treasury says can't force China currency change

A senior U.S. Treasury official warned Congress on Thursday that trying to force faster China currency appreciation by legislative effort would fail and might provoke retaliation against the United States.

Riskier global assets rally on strong corporate results

World stocks bounced off this week's 3-1/2 month low on Thursday and credit markets stabilized as upbeat corporate earnings tempered worries about a global credit crunch which had prompted a sell-off of almost a fortnight.

Oil near $76, extends decline from record high

Oil slid towards $76 on Thursday, deepening its descent from an all-time high the previous session as U.S. refiners raised fuel output to the highest level in nearly a year.

Mattel sees $30 million charge from toy recall

Mattel Inc. said on Thursday it expects the recall of Chinese-made toys, such as popular preschool characters like Sesame Street's Elmo and Big Bird, to result in a charge of $30 million.

Search for missing in Minneapolis bridge collapse

Rescuers searched on Thursday for 20 people missing in a U.S. bridge collapse that sent vehicles tumbling several stories into the Mississippi River in an avalanche of concrete and steel that killed at least four, authorities said.

High cellphone margins lift Nokia Q2

Strong cellphone demand in Asian emerging markets boosted Nokia Oyj's second-quarter sales and profits, sending its shares to their highest level in more than five years.

Bear Stearns exec sees market fall as healthy

A top executive of Bear Stearns Cos., which has been hit by the collapse of two of its hedge funds and forced to halt redemptions at a third, shrugged off concerns about a global credit crunch on Thursday and said the recent market decline was healthy.

Manufacturing growth rate slows; fewer private jobs

Manufacturing grew at a slower rate in July as a drop in new orders spawned caution among factory managers, and U.S. private employers probably added jobs last month at their slowest rate in four years, according to two reports on Wednesday.

Chrysler, Ford sales tumble in July

Ford Motor Co and Chrysler Group posted weaker-than-expected U.S. sales for July on Wednesday, underscoring the pressure on auto sales from a weaker housing market and higher gas prices.

S&P falls on credit worries

The Standard & Poor's 500 index slid in a highly erratic session on Wednesday, as concerns about worsening credit conditions persisted and a sharp downturn in the price of oil sent energy companies' shares lower.

Oil hits record high above $78 a barrel

Oil hit a new record high above $78 on Wednesday after a larger-than-expected drop in crude inventories in the United States.

Dollar rises vs yen as U.S. equities gain

The dollar rose against the yen on Wednesday, rebounding from earlier three-month lows in choppy trading, as the U.S. stock market steadied after its recent heavy losses.

Credit casualties mount, global stocks tumble

Stocks fell and currency markets churned on worries about worsening credit markets and a move away from risky investments.

UK's Brown urges people power to fight poverty

British Prime Minister Gordon Brown urged governments, businesses and volunteer groups on Tuesday to unite in a show of people power to put the world back on track toward slashing extreme poverty by 2015.

Paulson to make his currency case to China's Hu

U.S. Treasury Secretary Henry Paulson brings his overtures for a faster rise in the yuan to Chinese President Hu Jintao on Wednesday, a day after the Bush administration warned that anti-China legislation in the U.S. Congress could provoke a global trade backlash.

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