The number of investment banking jobs at the world's largest banks has fallen by around 5.6% over the past 12 months, according to Financial News analysis, as financial institutions look to stave off the impact of increased costs and declining fee revenues.

Natural-gas futures tumbled Thursday after government data showed gas storage levels rose more than expected last week, indicating weakening demand.

Spain is reportedly in talks with eurozone partners over conditions for aid to bring down its borrowing costs.

Canadian stocks dropped on Thursday, with the S&P/TSX Composite Index slipping 0.2% to 12,091.99.

Nasdaq OMX Group Inc. (NDAQ) plans to introduce a new class of option contracts on U.S. Treasury bonds by the end of the year, pending regulatory approval, the exchange operator was set to announce Thursday.

Shares of Hewlett-Packard Co. (HPQ) fell as much as 7.9% Thursday after management detailed a litany of challenges in nearly every part of its business, disabusing any hopes investors might have had for a quick turnaround.

U.S. home prices took the biggest quarterly jump in 6 1/2 years, according to a government index, another sign that the housing market is stabilizing after a prolonged bust.

The infrastructure arm of Morgan Stanley's (MS) investment management business has acquired all remaining shares of gas transmission provider Southern Star Central Corp. that it didn't already own for an undisclosed amount.

In a letter to the SEC, Citigroup blasts the Nasdaq for its compensation plan regarding the May 18 Facebook IPO.

Average fixed mortgage rates in the U.S. continued to move higher over the past week--marking the fourth week in a row--as more signs emerged of improvement in the housing market, according to mortgage-finance company Freddie Mac (FMCC).