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LONDON - Britain’s parliament passed legislation on Thursday allowing the government to nationalize Northern Rock , five months after the bank became a high-profile casualty of the global credit crunch.

NEW YORK - Stocks fell more than 1 percent on Thursday as bulging oil inventories deflated energy shares and the weakest reading on mid-Atlantic ocean manufacturing since 2001 added evidence the economy was in recession.

LOS ANGELES - Starbucks Corp has said on Thursday it would eliminate 600 jobs as it refocuses its business to reignite growth.

NEW YORK - Stock losses deepened in late trading on Thursday, pushing the Nasdaq down slightly more than 1 percent, as economic data added to worries about a United States recession.

NEW YORK - Lehman Brothers Holdings Inc is cutting 200 jobs, equivalent to 10 percent of its investment banking staff, CNBC television reported on Thursday.

REDMOND, Washington - Microsoft Corp has said on Thursday it would publish key software blueprints to let rival programs work better with its products and address a few European antitrust concerns.

NEW YORK - J.C. Penney Co Inc reported a smaller-than-expected fall in quarterly profit on Thursday as the mid-tier department store operator offset falling sales with tight control on expenses.

LOS ANGELES - Plans to ask Nevada voters to lift taxes on casinos have alarmed the Las Vegas gambling industry, which is scrambling to block initiatives and come up with other ways to fund projects from education to new roads in the tax-averse, fast-growing state.