Service sector contracts as orders fall - AP - Thu 2:30 pm ET
Higher oil prices caused service businesses to shrink in June, as falling new orders and rising costs hit the nation's coffee shops, paper mills and corner stores.

Stocks end mixed following jobs, services data - AP - 2 hours, 49 minutes ago
Wall Street capped a shortened trading week with a mixed finish Thursday after some uneven economic data: news of a contraction in the nation's services sector and a tame reading on employment.

NY judge orders prison for former Refco CEO - AP - Thu 5:07 pm ET
The former head of Refco Inc., blamed for the collapse of one of the world's largest commodities brokerages, was sentenced to 16 years in prison Thursday by a judge who decried the "staggeringly arrogant" greed of white collar criminals.

Oil heads past $145 for 1st time; pump cost up too - AP - 2 hours, 26 minutes ago
Soaring fuel costs are taking some of the celebration out of this holiday weekend. Oil prices headed into the busy Fourth of July break by racing past $145 a barrel for the first time Thursday.

Judge in NY scolds hedge fund scammer who ran away - AP - 1 hour, 29 minutes ago
A hedge fund cheat who tried to fake his own death and spent nearly a month as a fugitive told a judge Thursday that he really did try to commit suicide while on the run, saying he thought it would be better to do himself in than turn himself in.

Ky. lawyers face new trial in diet-drug settlement - AP - 2 hours, 26 minutes ago
Two lawyers accused of defrauding their clients in a diet-drug settlement of $65 million were sent back to jail Thursday after a jury deadlocked and a federal judge declared a mistrial.

Continental ordered to trial in Concorde explosion - AP - Thu 1:51 pm ET
A French judge ordered Continental Airlines and five people to stand trial on charges of manslaughter for the 2000 crash of a Concorde jet that killed 113 people, a prosecutor said Thursday.

ECB raises key rate to 4.25 percent - AP - Thu 12:46 pm ET
Wary of higher energy and commodity prices, the European Central Bank raised its benchmark interest rate Thursday by a quarter percentage point to 4.25 percent, a move it hopes will help curtail rising inflation in the 15 countries that use the euro.

Penn National's $5.82 billion takeover is off - AP - 1 hour, 30 minutes ago
Two investment firms pulled the plug Thursday on their $5.82 billion acquisition of Penn National Gaming Inc. after the racetrack and casino operator's stock price tumbled.