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U.S. jobless claims drop, point to stronger labor market

WASHINGTON - The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, a sign the labor market may be tightening.

Recent Business News

Bank of America names CEO Moynihan chairman of board

- Bank of America Corp said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately.

01 Oct 2014

TCW had $1 billion net inflows into flagship fund since Friday: Morningstar

NEW YORK - TCW, an investment firm that is a major rival of Pimco, posted roughly $1 billion in net inflows into its Metropolitan West Total Return Bond Fund since Friday, according to data from Morningstar on Thursday.

12:34pm EDT

Daimler cuts car market forecast as Europe wobbles

PARIS - German luxury automaker Daimler has cut its growth forecast for the global car market, blaming cooler demand in emerging markets and a plunge in Russian sales which has put a fledgling European industry recovery in jeopardy.

Russia, Germany 11:49am EDT

Fed's Dudley urges key changes to Libor rate

NEW YORK - A broader definition of the benchmark Libor interest rate and a better alternative is needed, an influential U.S. Federal Reserve official said on Thursday, joining the chorus of world regulators calling for changes in the wake of abuse.

12:05pm EDT

Investors batten down hatches for volatile end to 2014

LONDON - Global investors are starting to cut back on stock market positions, wary of a wave of financial market turbulence in the final quarter of 2014 as the era of cheap money ends.

12:14pm EDT

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