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• Stocks near session lows (Reuters)
• Brent backs off $120, eyes on Libyan, Saudi supply (Reuters)
• Toyota recalls 2.2 million vehicles over pedal issues (Reuters)
• Jobless claims fall, durable orders mixed (Reuters)
• GM posts profit, shares under pressure (Reuters)
• Top SEC lawyer named in Madoff suit (AP)
• Venezuela out of recession, but doubts remain (AP)
• Safeway returns to 4th-quarter profit (AP)
• In gloomy times, Irish voters ripe for change (AP)
• U.S. foreclosure deal slowed by infighting: sources (Reuters)
• Libya unrest sends shockwaves through global markets (AFP)
• Sears names new CEO after 3-year search (AP)
• House panel's bill would end foreclosure program (AP)
• Putin, EU commission chief clash on energy policy (AP)
• IRS eases rules on liens or delinquent taxpayers (AP)
• GM posts 1st full-year since 2004 (AP)

Stocks near session lows (Reuters) Posted: 24 Feb 2011 09:05 AM PST Reuters - U.S. stocks were near session lows at midday on Thursday as U.S. crude oil prices hovered around $100 a barrel on violence in Libya.

Brent backs off $120, eyes on Libyan, Saudi supply (Reuters) Posted: 24 Feb 2011 08:49 AM PST Reuters - Oil surged more than 7.5 percent to its highest since August 2008 on Thursday on concern that uprisings in Libya could spread to other major oil producers in the Middle East, including Saudi Arabia.

Toyota recalls 2.2 million vehicles over pedal issues (Reuters) Posted: 24 Feb 2011 07:09 AM PST Reuters - Toyota Motor Corp said on Thursday it was recalling nearly 2.2 million vehicles over the risk that the accelerator pedal could be trapped by loose or misplaced carpet on the driver's side.

Jobless claims fall, durable orders mixed (Reuters) Posted: 24 Feb 2011 07:52 AM PST Reuters - New U.S. applications for unemployment benefits fell last week, but orders for a range of manufactured goods recorded their largest decline in two years in January, getting off to a slow start in the first quarter.

GM posts profit, shares under pressure (Reuters) Posted: 24 Feb 2011 08:46 AM PST Reuters - General Motors Co posted fourth-quarter results that topped Wall Street expectations, but its shares dipped below its IPO price as investor concerns shifted to the pressure ahead from rising oil prices and other costs.

Top SEC lawyer named in Madoff suit (AP) Posted: 23 Feb 2011 10:07 AM PST AP - The top lawyer at the Securities and Exchange Commission has been named as a defendant in a lawsuit by the trustee who's trying to recover money for victims of Bernard Madoff's Ponzi scheme.

Venezuela out of recession, but doubts remain (AP) Posted: 23 Feb 2011 05:26 PM PST AP - Venezuela has officially emerged from recession, but business leaders and independent analysts said Wednesday that modest fourth-quarter growth doesn't mean the economy will continue to expand.

Safeway returns to 4th-quarter profit (AP) Posted: 24 Feb 2011 09:31 AM PST AP - Safeway Inc. returned to a profit in the fourth quarter as price cuts, store-brand products and reduction in waste and theft helped boost the national grocery chain's performance.

In gloomy times, Irish voters ripe for change (AP) Posted: 24 Feb 2011 08:08 AM PST AP - Unemployment is above 13 percent, Irish taxpayers have reluctantly become bank owners, the value of the family home has plummeted and the nation is in hock to the European Union and the International Monetary Fund.

U.S. foreclosure deal slowed by infighting: sources (Reuters) Posted: 24 Feb 2011 09:11 AM PST Reuters - U.S. regulators' efforts to settle with banks over improper mortgage foreclosures are being hampered by infighting among the groups involved in the talks, and a settlement may take a while, according to sources familiar with the matter.

Libya unrest sends shockwaves through global markets (AFP) Posted: 24 Feb 2011 03:38 AM PST AFP - Libya tensions sent fresh shockwaves across financial markets on Thursday, as equities fell, oil soared close to $120 and the dollar plunged to a record low against the safe-haven Swiss franc.

Sears names new CEO after 3-year search (AP) Posted: 23 Feb 2011 07:43 PM PST AP - Struggling retailer Sears Holdings Corp. on Wednesday named a new CEO, ending a three-year search that began after its last chief executive resigned amid sales and profit slumps.

House panel's bill would end foreclosure program (AP) Posted: 24 Feb 2011 09:16 AM PST AP - A House committee plans to write legislation next week ending the Obama administration's flagship effort for helping struggling homeowners avoid foreclosure and abolishing three other housing assistance programs.

Putin, EU commission chief clash on energy policy (AP) Posted: 24 Feb 2011 09:08 AM PST AP - Russia's premier and the president of the European Commission on Thursday clashed over EU plans to stop suppliers of oil or gas from also directly managing pipelines — a move that threatens to hit Russian gas monopoly OAO Gazprom.

IRS eases rules on liens or delinquent taxpayers (AP) Posted: 24 Feb 2011 08:44 AM PST AP - The Internal Revenue Service is trying to help people who owe back taxes, so it's reducing the number of property liens and easing rules for small businesses to enter into installment agreements.

GM posts 1st full-year since 2004 (AP) Posted: 24 Feb 2011 09:24 AM PST AP - In an impressive comeback from bankruptcy, General Motors last year posted its first annual profit since 2004.

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