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• S&P turns up, Dow cuts losses (Reuters)
• GM profit beats, but vehicle prices hit shares (Reuters)
• Jobless claims hit 8-month high (Reuters)
• Late Easter, inflation boosts retailers' sales (Reuters)
• Cisco plans streamline to five units (Reuters)
• Ex-US Sec of State Rice tours Ala. aid center (AP)
• Instant View: BoE leaves rates unchanged, as expected (Reuters)
• Summary Box: Cigna's 1Q profit soars 52 percent (AP)
• Portugal learns terms for $115 billion bailout (AP)
• Rate on 30-year fixed mortgage falls to 4.71 pct. (AP)
• Portugal 'faces 2-year recession' after EU bailout (AFP)
• Amazon sues college store group over ads complaint (AP)
• Spanish bank BBVA reports Q1 profits down 7.3 pct (AP)
• First North Stream gas pipeline completed: consortium (AFP)
• 'Survivor' star Hatch denied bail pending appeal (AP)
• GM profit triples, says on track for stronger year (AFP)

S&P turns up, Dow cuts losses (Reuters) Posted: 05 May 2011 09:13 AM PDT Reuters - The S&P 500 turned higher and the Dow cut losses at midday on Thursday as oil prices fell sharply.

GM profit beats, but vehicle prices hit shares (Reuters) Posted: 05 May 2011 09:13 AM PDT Reuters - Shares of General Motors Co fell as much as 4.7 percent on Thursday as investor concerns over weak pricing at the No. 1 U.S. automaker outweighed a giant leap in quarterly net profit.

Jobless claims hit 8-month high (Reuters) Posted: 05 May 2011 08:00 AM PDT Reuters - The number of Americans filing for jobless aid rose to an eight-month high last week and productivity growth slowed in the first quarter, clouding the outlook for an economy that is struggling to gain speed.

Late Easter, inflation boosts retailers' sales (Reuters) Posted: 05 May 2011 07:07 AM PDT Reuters - U.S. retailers warned of rising costs and cautious consumers even as a late Easter boosted sales of clothing and other holiday-related items in April, helping many beat sales expectations.

Cisco plans streamline to five units (Reuters) Posted: 05 May 2011 06:45 AM PDT Reuters - Cisco Systems Inc will streamline its sales, services, and engineering organizations and refocus around five growth markets, in a significant restructuring at a company which had admitted it lost its way.

Ex-US Sec of State Rice tours Ala. aid center (AP) Posted: 03 May 2011 06:07 PM PDT AP - Former U.S. Secretary of State Condoleezza Rice has toured an aid and donation center in a neighborhood of her home city of Birmingham that was heavily damaged by tornadoes.

Instant View: BoE leaves rates unchanged, as expected (Reuters) Posted: 05 May 2011 04:25 AM PDT Reuters - The Bank of England held interest rates at a record low of 0.5 percent on Thursday, as expected, amid signs Britain's economic recovery is losing steam.

Summary Box: Cigna's 1Q profit soars 52 percent (AP) Posted: 05 May 2011 08:22 AM PDT AP - THE RESULTS: Health insurer Cigna Corp. said its first-quarter net income jumped 52 percent to $429 million, or $1.57 per share, from $283 million, or $1.02 per share. Revenue climbed 4 percent to $5.41 billion. Adjusted income from operations totaled $1.37 per share.

Portugal learns terms for $115 billion bailout (AP) Posted: 05 May 2011 06:05 AM PDT AP - Portugal will get IMF loans at rates similar to those granted to Greece and Ireland, officials said Thursday, but Lisbon is still waiting for fellow European countries to decide how much they'll charge for their slice of a euro78 billion ($115 billion) bailout.

Rate on 30-year fixed mortgage falls to 4.71 pct. (AP) Posted: 05 May 2011 07:37 AM PDT AP - Fixed mortgage rates dipped to the lowest level of the year this week. The third straight weekly decline comes at the start of the peak buying season.

Portugal 'faces 2-year recession' after EU bailout (AFP) Posted: 05 May 2011 04:54 AM PDT AFP - Portugal is heading for two years of 2.0-percent recession under a debt rescue, the government said on Thursday as top EU-IMF officials told the Portuguese people they faced a defining test of national effort.

Amazon sues college store group over ads complaint (AP) Posted: 04 May 2011 02:03 PM PDT AP - Amazon.com Inc. is asking a judge to declare that the online retailer's ads for discounted new and used college textbooks are neither false nor misleading, contrary to complaints by the trade association that represents college bookstores.

Spanish bank BBVA reports Q1 profits down 7.3 pct (AP) Posted: 05 May 2011 02:53 AM PDT AP - Spanish bank BBVA said Thursday its first-quarter profits dropped 7.3 percent as a poor business climate in its home market offset a marked improvement in Mexico.

First North Stream gas pipeline completed: consortium (AFP) Posted: 05 May 2011 09:09 AM PDT AFP - The first of two North Stream gas pipelines, due to pump gas from Russia to Germany by way of the Baltic Sea, bypassing eastern Europe, has been completed, the consortium building it announced on Thursday.

'Survivor' star Hatch denied bail pending appeal (AP) Posted: 05 May 2011 09:13 AM PDT AP - A judge in Rhode Island has denied reality TV star Richard Hatch's bail request pending an appeal of a nine-month prison sentence for failing to pay taxes on the $1 million he won on the first season of the hit show "Survivor."

GM profit triples, says on track for stronger year (AFP) Posted: 05 May 2011 07:28 AM PDT AFP - General Motors reported Thursday first-quarter profit more than tripled to $3.15 billion on asset sales and strong demand for its new fuel-efficient vehicles even as its overseas operations flagged.

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