MARKETS / FINANCE

A strong flow of imports pushed up the U.S. trade deficit in January, a further sign of strengthening demand, while new claims for jobless aid rose more than expected last week but remained at levels suggesting a labor market recovery was intact.

Stocks fell on Thursday, with each of the major indexes dropping more than 1 percent, and the S&P fell through a key technical level, signaling further declines may be on the horizon.

The applications for jobless benefits in the U.S. rose more than expected last week, after falling to the lowest level since May 2008 in the previous week.

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Stocks were set for a lower open on Thursday after a rating agency downgrade of Spain rekindled concerns over euro zone debt problems and disappointing economic data from China and the United states heightened global growth worries.

The trade deficit widened much more than expected in January to $46.3 billion, as surging imports of oil, capital goods and cars overpowered record exports.

Crude oil futures slumped on Thursday as the dollar index strengthened on fresh euro zone credit woes, while the focus remained on Libya, where the escalating violence triggered fears that the country's oil infrastructure could suffer long-lasting damage.

Rovio, the Finnish developer behind the Angry Birds smartphone game, raised $42 million from investors and named Skype co-founder Niklas Zennstroem to its board.

Stock index futures fell on Thursday after a rating downgrade of Spain rekindled concerns over euro zone debt problems and weak Chinese trade data heightened global growth worries.

U.S. stock index futures fell on Thursday after a rating downgrade of Spain rekindled concerns over euro zone debt problems and weak Chinese trade data heightened global growth worries.

Wall Street is set to open lower on Thursday, with futures for the S&P 500, Dow Jones and Nasdaq down 0.3-0.6 percent at 1019 GMT.

The Bank of England looks set to keep interest rates at a record low of 0.5 percent on Thursday, judging that Britain's recovery is currently too fragile to sustain a spiral of rising prices.

Ratings agency Moody's cut Spain's sovereign debt rating one notch to on Thursday, warning of potential further cuts because it fears bank restructuring will likely cost more than twice what the government expects.

European stocks and the euro retreated on Thursday after Moody's downgraded Spain, reigniting worries over the euro zone debt crisis, while ongoing violence in Libya kept Brent crude hovering around $116.

Ratings agency Moody's slashed Spain's sovereign credit rating by a notch to Aa2 on Thursday and warned of further cuts, saying that the country's plans to clean up the battered banking sector will cost more than government expects and add to its debt burden.

China swung to a surprise trade deficit in February of $7.3 billion, its largest in seven years, as the Lunar New Year holiday dealt an unexpectedly sharp blow to exports.

Brent crude rose for a second day on Thursday to surpass $116 after forces loyal to Libyan leader Muammar Gaddafi bombed oil industry infrastructure, inflicting longer-term damage on the country's exporting capacity.

China may be struggling with growing income disparities, yet when it comes to making a fortune, many Chinese still believe that to get rich is glorious, especially if you are an entrepreneur.

Settlements of securities fraud lawsuits are increasingly tied to U.S. Securities and Exchange Commission cases, a trend likely to continue as the agency increases enforcement activity, a new report shows.

Foreclosure filings dropped to a 3-year low in February due to an ongoing backlog following last year's halt in activity, according to a RealtyTrac report on Thursday.

Asian stock markets and copper prices fell on Thursday after surprisingly weak Chinese trade data hit markets already nervous that higher oil prices will cut global growth.

Mexican tycoon Carlos Slim is the richest person in the world for the second year in a row, Forbes said on Wednesday.

The U.S. Securities and Exchange Commission voted on a method to compensate victims of swindler Bernard Madoff with some commissioners and staff unaware that the SEC's then general counsel had personal ties to the fraud.

Investors piled into HCA Holdings Inc's $3.79 billion initial public offering on Wednesday, shrugging off the hospital operator's high debt levels as the market for newly traded shares heats up.

At an age when most people enjoy retirement, Mexican tycoon Carlos Slim grew his personal fortune by some $20 billion in one year through gains in his telecommunications and mining businesses.

Billionaire investor Carl Icahn on Wednesday said he signed an agreement with power company Dynegy Inc that would allow him to buy up to 19.99999 percent of the company while retaining his voting rights.

Download speeds for consumers using WiFi stations are on average 30 percent slower than they are for users of fixed connections, because of physical barriers and interference from devices like microwaves, a study showed on Thursday.

Maurice Hank Greenberg, the former American International Group Inc chief executive, said the judge overseeing a New York attorney general lawsuit against him should be removed from the case because he is biased.

Hospital operator HCA is slated to become the largest-ever private equity-backed initial public offering. HCA is expected to raise $4.06 billion if it prices shares at the midpoint of the proposed range and underwriters exercise their overallotment option in full.