IBT Staff Reporter

U.S. stocks were lower on Thursday, after fluctuating during the day, with a rise in energy sector stocks but disappointment in quarterly earnings at retailers.

Crude oil rose on Thursday, following an overnight explosion at a major pipeline which cut Canadian oil supply to consumers in the U.S.

Worldwide distributor of plumbing and heating products Wolseley Plc has announced the axing of 3,000 jobs today in its first Interim Management Statement.

A surge in inventory-building and robust exports propelled U.S. economic growth ahead at the fastest rate in four years during the third quarter, but a jump in claims for jobless benefits last week underscored the sharp slowdown now under way.

Stocks fell on Thursday, surrendering some of Wednesday's large gains, as retailers stumbled after several disappointing quarterly earnings reports, including Sears Holdings Corp.

American International Group is interested in expanding into consumer finance in South Korea and may buy Korean companies to grow its businesses, the head of its Korean life insurance unit said on Thursday.

Hyundai Mobis Co said on Thursday China would account for half of its international unit's sales within five years, rising from the current 10 percent.

Global stocks rallied on Thursday after strong Wall Street gains in the previous session, as the prospect of Federal Reserve interest rate cuts boosted faith in the U.S. economy and encouraged investors to take on risk again.

The dollar rose broadly on Thursday as investors bet that the perceived likelihood of more U.S. interest rate cuts will help avoid a recession.

An explosion crippled the biggest pipeline supplying Canadian crude to U.S. Midwest refineries, shutting off more than 1 million barrels per day of imports to the world's biggest consumer.

National Bank of Canada swung to a fourth-quarter loss on Thursday, after previously warning that it would take a big charge on asset backed commercial paper.

Toronto-Dominion Bank, which plans to acquire New Jersey-based Commerce Bancorp early next year, posted a 44 percent jump in fourth-quarter profit on Thursday thanks to strong results in its wealth management and retail banking businesses.

Shares of Freddie Mac surged on Wednesday as strong demand for a record preferred stock issue signaled the second-biggest provider of U.S. home funding could access capital even in turbulent markets.

Russia will become Europe's biggest car market in 2009, overtaking Germany, Volkswagen's chief executive told reporters late on Wednesday during the group's official opening of its new plant in Kaluga outside of Moscow.

Ford Motor Co has agreed to settle class-action litigation covering plaintiffs in four states who claimed its Explorer sport utility vehicles were prone to rollovers, Ford said on Wednesday.

ABC is on track to win the November sweep in adults 18-49, and CBS will be first in viewership, while Fox and Univision are the only big networks to show year-over-year increases.

China has published a blacklist of substandard toy jugs and children's shoes sold at Wal-Mart stores and drawing pens from French retailer Carrefour in a quality sweep on children's goods sold at Beijing supermarkets.

He's jumping off tall buildings again, but this time it is just rehearsals ahead of the next James Bond blockbuster due in theatres in 2008.

Software maker Adobe Systems Inc and Internet company Yahoo Inc said on Wednesday they will offer a service to let publishers run advertisements in Adobe's popular document-reading format.

Sears Holdings Corp reported sharply lower quarterly profit on Thursday as sales at stores open at least a year fell at its U.S. Kmart and Sears stores.

Online brokerage E*Trade Financial Corp, which has been pounded by credit woes in the mortgage business, said on Thursday that it was getting a $2.55 billion cash infusion from investors led by Citadel Investment Group.

Microprocessor maker Advanced Micro Devices Inc (AMD) sees pricing in the chip market remaining competitive, and aims to return to profitability soon, Chief Executive Hector Ruiz said on Thursday.

Metal Gear Solid 4 is not only one of the most eagerly awaited games for Sony's PlayStation 3, it is also among the last of a dying breed -- games designed exclusively for one gaming console.

Find a high-tech ping-pong pal, see an android patient twitch in pain and experience breast feeding, even if you're a man.

A 33-year-old South Korean quarry worker was found dead with a burning mobile phone stuck to his chest, police and the doctor who examined the man said on Thursday.

A cyber cold war waged over the world's computers threatens to become one of the biggest threats to security in the next decade.

Gold held firm above $800 an ounce on Thursday as oil prices soared, but prices were locked into narrow ranges as a firmer dollar dulled the metal's attraction for non-U.S. investors.

Oil surged more than $4 a barrel on Thursday after an explosion at a major pipeline temporarily halted nearly a fifth of crude oil imports to top consumer the United States.

After 10 weeks, American TV's ‘Dancing with the Stars’ reached its finale, crowning Indy 500 winner Helio Castroneves and his professional dancing partner Julianne Hough as the show’s new champions.