Reuters - Treasury Secretary Henry Paulson said on Thursday the Federal Reserve should be given explicit authority to step in to protect the financial system if its stability is threatened, even if it means offering emergency funding to investment banks.

AP - The economy, hobbled by higher fuel and food prices, tighter credit and a depressed housing market, is limping along at a snail's pace, a private business group said Thursday.

AFP - The dollar held mostly firm Thursday as traders focused on a US Conference Board reading of leading indicators that suggested that the world's largest economy could avoid recession.

Reuters - Treasury Secretary Henry Paulson is expected to urge that the Federal Reserve be given new powers to regulate Wall Street after the collapse of brokerage Bear Stearns Cos. Inc., U.S. media reported on Wednesday.

Reuters - A sharp rise in British retail sales pierced the global economic gloom like a rare shaft of sunlight on Thursday, but other developments showed that hopes that storm clouds would disperse were premature.

Reuters - The Nasdaq rose on Thursday as top technology companies and other exporters benefited from tumbling oil prices, seen as easing strains on global economic growth.

Reuters - The number of U.S. workers filing new claims for jobless benefits fell 5,000 last week, government data on Thursday showed, but claims remained near levels indicating a sluggish labor market amid a cooler economy.

AP - Stocks fluctuated Thursday, dipping in and out of positive territory, after Citigroup Inc. warned that a "substantial" amount of write-downs was likely in the bank's second quarter and as oil prices fell sharply on a move by China to raise price caps.

AP - A private business group says its index of leading economic indicators inched higher for the second month in another sign that higher fuel and food prices, tighter credit and a depressed housing market are stifling the economy.

AP - Oil prices dropped sharply Thursday after China said it will raise fuel prices, a move that could dampen the booming Asian nation's oil consumption.

AP - Circuit City Stores Inc. said Thursday its loss widened in the first quarter because of a more than 11 percent drop in sales at established stores.

Reuters - Treasury Secretary Henry Paulson on Thursday urged quick action to give the Federal Reserve explicit authority to step in to protect the financial system if its stability is threatened.