WASHINGTON - The number of Americans filing new claims for unemployment benefits rose less than expected last week and remained near its pre-recession levels, offering further evidence of the economy's underlying strength.
SAN FRANCISCO - Disappointing results from Google and IBM may unnerve investors shaken by a strong recent selloff in tech stocks, underscoring the challenges the Internet and IT sectors face as corporate report cards come due in coming weeks. Full Article
BEIJING - Chinese President Xi Jinping plans to use a purge of senior officials suspected of corruption to put his own men and reform-minded bureaucrats into key positions across the Communist Party, the government and the military, sources said. Full Article
SYDNEY/PERTH, Australia - A deep-sea drone had completed its much-anticipated first full scan of the seabed in the remote Indian Ocean, the team looking for the missing Malaysian jetliner said, as an air and surface search became less likely to yield results. Full Article
Morgan Stanley reported a 49 percent rise in first-quarter earnings, helped by higher income from wealth management and institutional securities. Full Article
Breakingviews argues the Alibaba IPO will strip investors of their biggest reason to follow Yahoo, whose stagnant U.S. business plays second fiddle to overseas holdings. Video