Reuters - U.S. home prices fell a record 1.7 percent in the first quarter and the number of workers on jobless benefit rolls held at a four-year high, underscoring the economy's woes, data on Thursday showed.

Reuters - Merrill Lynch & Co Inc is setting up a group to get rid of troubled or underperforming assets and named U.S. fixed income sales head Doug Mallach its head, according to an internal memo.

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

Reuters - As U.S. banks mop up the mess from billions of dollars of bad home loans, buyers are finding the days of cheap money are over and, in many cases, tougher versions of old lending rules now apply.

AP - With any luck, the second half of this year will be better than the so-far rocky first half. The Federal Reserve chief hopes that is the case. So does President Bush.

Reuters - Bill Miller, the star portfolio manager at Legg Mason Capital Management, has not yet decided whether to support a dissident board slate at Yahoo Inc backed by billionaire investor Carl Icahn.

Reuters - Oil prices pulled back from a record $135 a barrel on Thursday as dealers took profits from a dazzling rally and a recovering U.S. dollar dampened all commodities markets.

Reuters - U.S. airline shares were broadly higher on Thursday as oil prices -- directly linked to the price of jet fuel -- retreated from a record high above $135 a barrel.

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.