worldheadlines

The number of U.S. workers filing new claims for jobless benefits fell unexpectedly last week, the government said on Thursday.
Initial claims for state unemployment insurance benefits fell to 357,000 in the week ended May 31 from an upwardly revised 375,000 for the prior week, the Labor Department said.
Analysts polled by Reuters were expecting 375,000 in new claims, up from...

Many U.S. retailers reported better-than-expected May sales on Thursday, with discounters and dollar stores attracting customers looking to save money in the weak economy, but department stores continued to struggle.
Wal-Mart Stores Inc (WMT.N), the world's largest retailer, posted a better-than-expected 3.9 percent increase in sales at U.S. stores open at...

Continental Airlines Inc (CAL.N) said on Thursday it would cut 3,000 jobs, or about 6.5 percent of its work force, and retire 67 older planes as it scales down in the face of soaring fuel prices.
The No. 4 carrier is the latest of the major U.S. airlines to announce large...

NEW YORK - Continental Airlines Inc. said Thursday it is cutting 3,000 jobs and reducing capacity in the fourth quarter by 11 percent, citing record fuel costs and an industry in "crisis."
Also, the company's chief executive and president say they will not take a salary for the rest of this year and will decline bonuses. The cuts represent about 6.5 percent...

The German farmers' union demanded Thursday that all retailers follow the example of Lidl discount retailer and hike milk prices following a week-long delivery strike by dairy farms.
"The prices are going up, but not everywhere. So we now need...

British house prices tumbled 3.8 percent in May for the largest annual drop since April 1993, home loans provider Halifax said on Thursday.
Halifax, part of banking group HBOS, said in its latest monthly survey that house prices fell 2.4...

The Bank of England has kept its benchmark interest rate unchanged at 5 percent.
The decision Thursday confirms expectations by economists that concern about rising inflation would stop the central bank from making another cut.
It was the second consecutive month the bank has held rates steady. It had made two cuts earlier in the year — bringing the rate down from 5.5...

Wal-Mart Stores Inc (WMT.N) on Thursday reported a better-than-expected 3.9 percent rise in sales at U.S. stores open at least a year in May.
Analysts, on average, were expecting the company's same-store sales to rise 1.6 percent, according to Thomson Reuters data, while the company had forecast U.S. same-store sales would...

Continental Airlines Inc (CAL.N) said on Thursday it will cut 3,000 jobs and that the company's chief executive and president will decline their salaries for the remainder of the year.
The airline also said it would reduce capacity and trim 67 mainline aircraft from its fleet.
The announcement follows a similar...

Britain's Vodafone (VOD.L) confirmed on Thursday that Verizon Wireless, in which it has a 45 percent stake, is in advanced talks about buying U.S. rural mobile service provider Alltel Corp.
Verizon Wireless is close to buying Alltel for $27 billion, including debt, a source familiar with the talks told Reuters on...

Oil prices fell below $122 a barrel on Thursday, down for a third day as the U.S. dollar climbed and fears over demand grew after India and Malaysia raised fuel prices, weighing on resource-related shares.
Stocks in Malaysia (.KLSE) were on track for the biggest single-day decline in 12 weeks, leading Asian equities 1 percent lower, according to an MSCI index...

Bear Stearns Cos' private-equity arm Bear Stearns Merchant Banking is expected to announce on Thursday it will spin off into an independent company with JPMorgan Chase & Co (JPM.N) as its largest investor, the Wall Street Journal said.
JPMorgan will assume around $1 billion of investments and commitments, the newspaper said,...

Calstrs, one of the largest U.S. pension funds, may remove its eight-year ban on tobacco stocks as risks in this industry have dimmed, the Wall Street Journal reported on Thursday.
The board of the California State Teachers' Retirement System began deliberating on Wednesday about adding tobacco stocks to its portfolio of more than $160 billion, the newspaper said.
Calstrs divested itself...

Yahoo Inc (YHOO.O) said on Wednesday that deal talks are ongoing with Microsoft Corp (MSFT.O) as the company resisted an attack by billionaire critic Carl Icahn, who called its recent actions "deceitful."
Yahoo President Susan Decker trumpeted new ad partnerships with Wal-Mart Stores Inc (WMT.N) and others as Icahn, an activist...

Corporate Express (CXP.AS) will open its books to unsolicited bidder Staples (SPLS.O), a Dutch newspaper reported on Wednesday, but the U.S. office supplies company said it had yet to see any figures.
Staples on Tuesday raised its offer to 9.15 euros a share, or 1.7 billion euros ($2.65 billion) in total, on the condition that Corporate Express shareholders reject the company's...