Reuters - Stocks were mostly flat on Thursday as the price of oil weighed on sentiment as it hit another record high before retreating, offsetting gains by financial company shares.

Reuters - Ford Motor Co warned on Thursday that it no longer expected to meet a long-held goal of returning to profitability in 2009 and would cut production through the rest of this year in response to a slumping U.S. auto market.

Reuters - Oil sped to new peaks for a third straight day on Thursday to top $135 a barrel as investors fretted over long-term supply constraints and a big drop in U.S. crude stocks.

Reuters - The world's top airlines warned on Thursday that soaring fuel prices were hitting profits, prompting some to increase fares, and global leader American Airlines announced thousands of job cuts to counter higher costs.

Reuters - A Florida pension fund has filed a lawsuit against American International Group Inc and four top officials, including Chief Executive Martin Sullivan, for allegedly issuing false and misleading statements relating to the insurer's finances that inflated the prices of AIG securities.

Reuters - A U.S. federal judge on Thursday will re-evaluate the prison sentences of Adelphia founder John Rigas and his son Timothy after an appeals court overturned one part of their convictions last year.

Reuters - Crude oil soared to a fresh record high above $135 per barrel on Thursday as a surprise drawdown in U.S. crude oil inventories and a weaker dollar prompted heavy fund inflows into the market.

AP - The Federal Reserve on Wednesday sharply lowered its projection for economic growth this year, citing blows from the housing and credit debacles along with zooming energy prices. It also expects higher unemployment and inflation.

Reuters - Stocks fell on Wednesday as record crude oil prices and comments from the Federal Reserve fueled concerns about inflation and cutbacks in non-essential consumer spending.

Reuters - Oil prices surged more than $3 to a record near $133 a barrel on Wednesday after a U.S. government report showed a surprise drop in crude stockpiles, reinvigorating fears of a worsening supply crunch.