Target’s $1.9B Zellers deal 1st step into Canada

[AP] - Target is expanding north, agreeing to acquire most leases of Canadian retailer Zellers for $1.85 billion and planning to open its first Canadian stores in 2013.

Stocks mixed after unemployment applications rise

[AP] - Stocks are mixed in midday trading after the government reported that more people applied for unemployment benefits last week.

Banks repossess 1 million homes in 2010

[AP] - The bleakest year in the foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast.

Merck stops trial for potential blood thinner

[AP] - Shares of Merck & Co. are falling after the drugmaker says it has halted one late-stage trial of a potential blood thinner and will immediately stop giving the drug in another study to patients who have had a stroke.

Higher energy and food costs lift wholesale prices

[AP] - A spike in oil and food costs pushed wholesale prices up last month by the biggest amount in nearly a year, a trend that could threaten the still-fragile global economy.

ECB warns on inflation, seeks bolder crisis action

[AP] - The European Central Bank's president warned Thursday that inflation may remain high for months, raising questions about the possibility of an eventual interest-rate hike, and urged governments to bolster measures to tackle the eurozone debt crisis.

FDA orders lowering pain reliever in Vicodin

[AP] - Federal health regulators are limiting a key ingredient found in Vicodin, Percocet and other prescription painkillers that have been linked to thousands of cases of liver damage each year.

Rate on 30-year fixed mortgage dips to 4.71 pct.

[AP] - Rates on fixed mortgages dipped for the second straight week as Treasury yields fell. Freddie Mac said Thursday the average rate on the 30-year mortgage dropped to 4.71 percent this week from 4.77 percent the previous week.

Banks repossess 1 million homes in 2010

[AP] - The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast.

Marathon Oil to spin off its refining business

[AP] - Marathon Oil said Thursday it will split into two companies, separating its business of exploring for and producing oil from its lower-margin refining operation.

Next Page »