Business News Headlines

Dow, S&P 500 end at new highs after data, stimulus in place

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NEW YORK - The Dow and S&P 500 ended at record highs on Thursday, with the S&P 500 rising above 1,700 after strong data on service-sector growth and as central banks said they would keep monetary stimulus in place. | Video

4:36pm EDT

AIG profit rises 17 percent, announces dividend

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- American International Group Inc reported a 17 percent rise in second-quarter profit, helped by strong performance in its insurance operations, and the company reinstated a quarterly dividend.

4:27pm EDT

Consumers hungry for trucks in July; fleet sales weak

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DETROIT - Auto sales to individual U.S. consumers beat expectations in July and major automakers reported low inventories for many hot-selling models, such as Ford Motor Co's Fusion mid-size sedan, suggesting sales would strengthen further this year.

4:22pm EDT

LinkedIn revenue soars to $363.7 million, shares rise

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SAN FRANCISCO - LinkedIn Corp reported revenue of $363.7 million in second quarter, a 59 percent jump, after its membership numbers continued to soar after several quarters of slowing growth.

4:29pm EDT

SEC prevails as jury finds Goldman's Tourre liable for fraud

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NEW YORK - A jury found former Goldman Sachs Group Inc vice president Fabrice Tourre liable for fraud for his role in a failed mortgage deal that cost investors $1 billion, giving the U.S. Securities and Exchange Commission a big victory.

Icahn sues Dell in latest attempt to foil buyout

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- Activist investor Carl Icahn sued Dell Inc and its board on Thursday, his latest attempt to derail a $24.4 billion buyout bid by the computer maker's founder and CEO Michael Dell.

4:01pm EDT

SEC official says 'gratified' by Tourre trial verdict

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WASHINGTON - A top U.S. Securities and Exchange Commission official said the agency was "gratified" by a jury's finding on Thursday that former Goldman Sachs Inc banker Fabrice Tourre was liable for fraud.

3:53pm EDT

Costs hit Big Oil; shale surge lifts smaller producers

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LONDON/HOUSTON - Some of the western world's top oil companies abandoned output targets and missed profit forecasts on Thursday as they promised to clamp down on rising costs that hurt quarterly results.

2:41pm EDT

P&G appears back on track with CEO Lafley's return

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- Procter & Gamble Co forecast a slightly more upbeat 2014 than expected on Thursday as Chief Executive A.G. Lafley tries to get the world's largest household products maker back on track without sacrificing profitability. | Video

Judge approves Citigroup $590 million settlement

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NEW YORK - A federal judge gave final approval Thursday to a $590 million settlement by Citigroup Inc that resolves a shareholder lawsuit accusing the bank of hiding tens of billions of dollars of toxic mortgage assets.

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McCain, Biden coming together for Sedona, Arizona forum

These days Washington is not known for bipartisanship, but every now and then a breakthrough is made. It is noteworthy that Vice President Joe Biden, a Democrat, and Senator John McCain, a Republican, are appearing together at a forum in Sedona, Arizona on Friday.