Glitches send Dow on a wild ride: In one of the most gut-wrenching hours in Wall Street history, the Dow plunged almost 1,000 points Thursday before recovering to close down 348, as erroneous trading in Procter & Gamble and several other stocks sparked a massive selloff.
Documents reveal AT&T, Verizon, others, thought about dropping employer-sponsored benefits: The great mystery surrounding the historic health care bill is how the corporations that provide coverage for most Americans - coverage they know and prize - will react to the new law's radically different regime of subsidies, penalties, and taxes. Now, we're getting a remarkable inside look at the options AT&T, Deere, and other big companies are weighing to deal with the new legislation.
Capturing the leaking oil: CNN's David Mattingly describes how a containment dome will be used to try to capture oil leaking from an oil well in the Gulf of Mexico.
Laura Bush on husband’s drinking: How George Bush stopped drinking. Laura Bush spills the beans (but not the drinks). CNN's Jeanne Moos reports.
Health care law’s massive, hidden tax change: An all-but-overlooked provision of the health reform law is threatening to swamp U.S. businesses with a flood of new tax paperwork.
[Updated at 7:51 p.m] From CNNMoney's Alexandra Twin: There are a few factors that could help stabilize the market Friday, said Peter Cardillo, chief market economist at Avalon Partners, including news on Greece.
"The key is to get Germany's vote tomorrow in favor of the Greek aid package from the European Union," he said. "If that happens, that could help calm fears and stabilize the market."
Friday's big April jobs report could end up being a non-event, said Donald Selkin, chief market strategist at National Securities. "We've had good economic reports all week and it hasn't happened."
[Updated at 7:44 p.m.] Failed bombing suspect Faisal Shahzad brought more than $80,000 into the United States between 1999 and 2008, a federal law enforcement source told CNN Thursday.The official said that the Pakistani-American brought the money into the United States in approximately $20,000 increments over the course of several trips. He appears to have done so legally, having declared the money on his customs forms.
An administration official refused to confirm the amount of money but said, "It is not unusual for CBP [Customs and Border Protection] to see individuals with long-term travel to countries with informal, cash-based economies to self-declare large quantities of cash when entering or exiting the country."
[Updated at 7:27 p.m.] Water continued to recede in flood-struck Tennessee Thursday, as the Cumberland River fell below flood stage for the first time since heavy rains last weekend overflowed it.
As of Thursday afternoon, the river stood at 39.5 feet, or about half an inch under flood stage, officials said.
The waters had receded in much of the city of Nashville, six days after the record-setting rains swelled rivers to historic levels and flooded several neighborhoods.
Voting has ended in the highly anticipated general election in the United Kingdom. It will determine the fate of Gordon Brown's Labour government, which has been in power for the past 13 years.
The casting of ballots across England, Scotland, Wales and Northern Ireland caps a month-long election campaign marked by Britain's first-ever televised debates among the leaders of the three main parties.
The Conservatives, led by David Cameron, are hoping to return to power after 13 years as the opposition.
Observers believe this election is likely to be the closest since 1992, when the Conservatives were returned to power. For that reason Nick Clegg and the Liberal Democrats - known as the "third force" of UK politics - may have a crucial role to play after election day in helping either party secure a parliamentary majority.
On a more localized level, smaller parties, as well as national parties in Scotland, Wales and Northern Ireland, are likely to have an impact on voters in their constituencies.
So what do you need to know?
The United States "strongly supports" Greece's economic reforms, the White House said Thursday.
"Greece is enacting major economic reforms with the support of the Euro-area and the International Monetary Fund," said a statement by White House Press Secretary Robert Gibbs.
"This plan is designed to deliver results over the next several years," Gibbs' statement said. "We strongly support this effort to help restore stability to Greece and confidence to the global financial system, and we will continue to communicate this to European officials."
The statement followed clashes between police and demonstrators in Athens, Greece, Thursday night, hours after Greek lawmakers approved an unpopular package of budget-cutting measures.
[Updated at 6:23 p.m.] Companies involved in the sinking of the oil rig Deepwater Horizon made "some very major mistakes," Interior Secretary Ken Salazar said Thursday after meeting with executives from the oil company BP.
Salazar would not elaborate, telling reporters the cause remains under investigation. But, he said, "from my own preliminary observations, there were some very major mistakes that were made by the companies that were involved."
The Coast Guard and the Interior Department's Minerals Management Service are leading the investigation into the loss of the drill rig, which was owned by BP contractor Transocean Ltd. The rig sank two days after an explosion set it afire, unleashing an undersea gusher of crude oil into the Gulf of Mexico and leaving 11 workers presumed dead.
An Amtrak express train struck and killed a person Thursday in Maryland near the Baltimore/Washington International Thurgood Marshall Airport, Amtrak said in statement.
Gulf oil spill – A four-story containment vessel is expected to arrive Thursday at the site of the Gulf of Mexico's gushing oil well, where BP will attempt to lower the container onto a ruptured deep-water pipe. Homeland Security Secretary Janet Napolitano, Commerce Secretary Gary Locke and Administrator Jane Lubchenco of the National Oceanic and Atmospheric Administration plan to travel to the Gulf Coast on Thursday. We'll continue to bring you the latest details on the story as they come in.
Times Square probe - Investigators continued their quest for information Thursday in the case against Faisal Shahzad, who is accused of driving a car bomb into midtown New York. He made a practice run in Manhattan the day before he allegedly tried to blow up an SUV in Times Square, according to a law enforcement source with knowledge of his questioning. We'll continue to bring you the latest details on the story as they come in.
Two workers burned in an explosion at an Alabama military contractor's facility died Wednesday night, authorities said.
The two employees of Huntsville-based contractor Amtec Corp. were working with ammonium perchlorate, a chemical used in solid fuel rockets, when the explosion happened.
9:00 am ET - Financial crisis hearing – Treasury Secretary Timothy Geithner and his predecessor, Henry Paulson, testify before a commission investigating the causes of the financial crisis.
10:00 am ET - Justice Department budget hearing – Attorney General Eric Holder testifies before a Senate appropriations subcommittee on the Department of Justice’s proposed budget for next fiscal year.
The Department of the Interior chief of staff was in the Grand Canyon with his wife three days after the BP oil spill was discovered in the Gulf of Mexico.
ABC News reports that even though his agency is charged with coordinating the federal response to the oil spill, Strickland was on what administration officials insisted was a "work-focused" trip far away from the massive spill.
According to ABC News, that trip included white-water rafting. When officials realized the spill was getting worse and Strickland was needed in the Gulf, a National Park Service helicopter removed him from the highly visited National Monument.