MARKETS / FINANCE

Greece's new finance minister met EU and IMF officials on Thursday to address gaps in his austerity plans with European leaders insisting harsh measures are adopted in return for funding to avert bankruptcy.

The number of Americans filing new claims for unemployment benefits rose last week, suggesting little improvement in the labor market this month after employment stumbled in May.

As Europe heads deeper into the Greek debt crisis, the tone of communications at the top of the European Central Bank may change significantly, posing a new challenge for markets trying to guess the ECB's intentions.

Oil fell sharply on Thursday, with North Sea Brent down more than $6 per barrel, after the International Energy Agency said 60 million barrels of oil would be released from strategic stockpiles to help the global economy.

New U.S. claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.

Sales of new U.S. single family homes fell for the first time in three months in May, but inventories of new homes for sale reached record lows and the median sales price rose slightly, a government report showed on Thursday.

Proxy advisory firm ISS said on Thursday it recommends that TMX Group shareholders vote in favor of a proposed combination with the London Stock Exchange .

Oil fell sharply on Thursday with North Sea Brent down more than $8 per barrel after the United States and International Energy Agency and they would release 60 million barrels of oil from strategic stockpiles to help the global economy.

Wall Street was set to drop about 1 percent at the open on Thursday after the latest data on the labor market further confirmed investor fears of a slowdown in the economy.

Oil fell sharply on Thursday with North Sea Brent down more than $5 per barrel on worries over global fuel demand following higher-than-expected U.S. jobless claims, forecasts of lower U.S. growth and evidence of a slowdown in Chinese manufacturing.

Oil fell sharply on Thursday with North Sea Brent crude down more than 3 percent on concerns over global fuel demand following forecasts of lower U.S. growth and evidence of a slowdown in Chinese manufacturing.

Wall Street was set for a sharply lower open on Thursday after the latest data about the labor market further confirmed investor's fears of a slowdown in the economy.

New claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.

Stock index futures dipped on Thursday, adding to weakness from the previous session, after the Federal Reserve gave a more pessimistic outlook on the U.S. economy and offered no hints about further monetary support.

Homebuilder Lennar Corp posted a larger-than-expected quarterly profit as it used more land bought at a discount, and said it expects a profitable 2011.

AirAsia thundered into the Paris Air Show with a record order for 200 revamped A320neo jets on Thursday -- an $18.2 billion deal making the Malaysian firm Airbus's largest airline.

The European Parliament formally endorsed Italy's Mario Draghi to be the next president of the European Central Bank on Thursday.

Stock index futures fell on Thursday, adding to weakness from the previous session, after the Federal Reserve gave a more pessimistic outlook on the U.S. economy and offered no hints about further monetary support.

A suspected British computer hacker was being held on Thursday for questioning about cyber attacks against a British law enforcement agency and two music industry bodies.

Chinese e-commerce website ihush.com has raised $43 million in venture capital funding to improve customer service and expand its user base, local media reported on Thursday.

Stocks dropped on Wednesday after the Federal Reserve cut its forecasts for U.S. economic growth this year and next, without hinting at further plans for stimulus.

The U.S. dollar rose and Asian stocks fell on Thursday with investors reluctant to buy risky assets ahead of a European leaders meeting, which could be dominated by Greece's debt crisis, and after the Federal Reserve cut its growth forecasts.

Australia's banking sector is set to be more competitive as Asian and European lenders race to grab market share in a high-margin lending market, helped by new tax relief and a more onerous regulatory regime for domestic banks.

A Canadian consortium of banks and pension funds said late on Wednesday it raised its hostile bid to buy the operator of the Toronto Stock Exchange, just hours after the London Stock Exchange sweetened its friendly bid to some $4.1 billion.

A consortium of Canadian banks and pension funds raised its hostile bid for the operator of the country's biggest stock exchange on Wednesday, with a cash-and-stock proposal that nudged ahead of the London Stock Exchange's just-sweetened, friendly bid.

Investors and ratings agencies would balk at another temporary raising of the U.S. government's debt ceiling to buy lawmakers more time to resolve their deep conflicts over how to lower the U.S. budget deficit.

AirAsia is set to place a record order for 200 revamped A320neo jets plus 100 options in a $17 billion deal making the Malaysian carrier Airbus's largest airline customer, industry sources said.

A temporary fix to the U.S. debt problems could be a sign that Washington's final budget agreement will not be enough to meaningfully cut the nation's deficit, Moody's main analyst for the United States warned on Wednesday.

Regions Financial Corp agreed to pay $210 million to settle allegations that its Morgan Keegan brokerage fraudulently marketed mutual funds and said it hired Goldman Sachs Group Inc to explore strategic options for that unit.