Applications for U.S. jobless benefits remained below 300,000 for the 12th straight week, signaling the labor market remains firm even as the economy has been slow to rebound from a first-quarter slump.
The Federal Trade Commission announced on Thursday a record settlement of $1.2 billion with Teva Pharmaceuticals over charges that the drug maker Cephalon illegally blocked generic competition to its sleep-disorder drug Provigil.
McDonald's CEO, Steve Easterbrook, said the fast-food restaurant will be toasting its buns for a longer duration with the intention to make tastier, more delicious burgers - in an attempt to press the “reset” on the company.
U.S. stocks fell Thursday, pulling back one day after the Nasdaq NDAQ -0.15 % Composite established a record high. The Dow Jones Industrial Average fell 57 points, or 0.3%, to 18104 shortly after the opening bell.
Abercrombie & Fitch Co., the teen-apparel company looking for a new chief executive officer, posted a wider first-quarter loss after currency fluctuations hampered attempts to turn around the business.