California is now scrambling because it got hypnotized and overstated by a factor of nearly 50% the amount of capital gains tax revenue that it thought was coming in from the Facebook IPO.

Brazilian steelmaker Gerdau SA (GGB, GGBR4.BR) may select a partner for its iron ore operations in Brazil by the end of the year, a company executive said Thursday.

Iraq's semi-autonomous region of Kurdistan plans to restart 100,000 barrels a day of oil exports next week in a goodwill gesture aimed at breaking a deadlock with Baghdad over payment for previous exports, according to an advisor to the Kurdish minister of natural resources and letters sent to

The worst U.S. drought in 55 years continues to intensify as above-normal temperatures and scant rainfall parched corn and soybean crops across the Midwest.

Standard & Poor's on Thursday cut its long- and short-term ratings on steelmaker ArcelorMittal to BB+/B from BBB-/A-3, citing European GDP forecasts and the growing likelihood of a global slowdown.

A day after spooking Wall Street with a trading glitch, Knight Capital Group revealed a massive $440 million pretax loss tied to the incident.

Banks' stranglehold on credit supply should be loosened with companies and individuals encouraged to play a bigger role in funding businesses, Gus O'Donnell, a potential successor to Bank of England Governor Mervyn King said in an interview with Understanding Society magazine.

Kellogg Co.'s (K) second-quarter earnings fell 12% as profits fell sharply in Europe, where the cereal maker continued to deal with the fallout from retailers pulling its products from shelves earlier in the year, but better-than-expected sales in North America helped soothe investors.

Shares of Gilead Sciences jumped 8% to $58.02 in midday trading Thursday, boosted in part by news that Bristol-Myers Squibb has run into safety problems with its hepatitis C drug candidate INX-189.

Shares of software company Eloqua Inc. (ELOQ) rose modestly on its first day as a publicly traded company.