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Wall St. logs biggest two-day gain since financial crisis

- Wall Street rallied more than 2 percent on Thursday as strong U.S. economic data and hints that a September interest-rate hike was unlikely fueled optimism that the worst of recent market turmoil was over. | Video

Recent Business News

GameStop says new game launches to drive strong second-half growth

- GameStop Corp said it expected robust revenue growth in the second half, helped by a strong slate of video game releases and growth in its mobile and consumer electronics businesses.

7:13pm EDT

Caterpillar Inc plans to cut 475 more jobs amid revenue decline

- Heavy machinery manufacturer Caterpillar Inc said it plans a new round of layoffs to cut costs as declining revenues from global mining and construction activities erodes its bottom line.

3:41pm EDT

Teen apparel retailer Aeropostale posts loss for eleventh straight quarter

- Teen apparel retailer Aeropostale Inc reported a loss for the 11th straight quarter as it discounted heavily to clear older inventory and closed many unprofitable stores.

6:51pm EDT

Tiffany earnings fall as high costs, strong dollar bite

- Tiffany & Co posted a 15 percent drop in quarterly earnings due to a strong dollar and the cost of developing and bringing out new products, sending shares of the luxury jeweler to an 18-month low. | Video

2:24pm EDT

China official blames Fed for global market rout, not yuan

BEIJING - The global stock market rout of the past week was sparked by concerns over a possible interest rate rise by the U.S. Federal Reserve and not by the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters on Thursday.

4:10pm EDT

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