Reuters - U.S. stocks could be close to an "important bottom" as moves by the central bank and the government to spur the economy are likely to work, the manager of Fidelity Investments' best-known Magellan fund said.

Reuters - Stocks rallied on Thursday as a $4 drop in oil soothed inflation fears, while an upward revision in a broad measure of U.S. economic growth suggested a recession may be avoided.

Reuters - WASHINGTON (Reuters)- The economy grew a bit faster than first thought in the first quarter as demand for foreign goods fell and commercial building picked up, adding to evidence that the United States may stave off recession.

Reuters - New York City's financial sector might only slice 15,000 to 25,000 jobs in the current downturn, which could prove shorter than the mayor has predicted, the city comptroller said on Thursday.

Reuters - General Motors Corp said on Thursday about 19,000 U.S. factory workers -- just over a quarter of its American blue-collar work force -- had taken buyouts to leave the automaker.

AP - Orders to U.S. factories for big-ticket items besides autos and airplanes showed surprising strength in April, raising hopes that manufacturing can help the economy shake off the slumping housing market and credit crisis.

Reuters - The H.J. Heinz Co is expected to raise its profit- and sales-growth forecasts as the company unveils its first two-year plan since a proxy fight with activist investor Nelson Peltz in 2006, the Wall Street Journal reported on Thursday.

Reuters - Investors dumped safe-haven bonds in major economies on Thursday, pushing euro zone government borrowing costs to a nine-month high following upbeat U.S. economic data and inflation concerns from costly oil.

Reuters - Yahoo Inc Chief Executive Jerry Yang said on Wednesday a potential deal with Microsoft has tremendous power, but the software giant appears no longer interested in a full merger.

AP - Orders to U.S. factories for big-ticket items besides autos and airplanes showed surprising strength in April, raising hopes that manufacturing can help the economy shake off the slumping housing market and credit crisis.