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NEW YORK (MarketWatch) -- Financial stocks in the S&P 500 fell further in midday trade Thursday as investors fretted when the economic recovery would kick in after a jobs report said unemployment

In general, the suburbs continue to grow faster than cities, and probably will for some time. But the country's ten largest cities are bucking that trend.

The U.S. economy shrank at an annual pace of 5.5% in the first quarter, the government said Thursday, a slower pace of decline than previously reported but still the second largest quarterly drop in

Stocks staged a broad rally as Bed Bath & Beyond rose on a profit report and SLM spiked on an analyst upgrade.

China's environment ministry ordered an ecological assessment for a proposed Yangtze River dam that conservationists fear could threaten hundreds of fish species.

Standard Chartered reported a strong performance for the first five months of 2009, but kept its outlook cautious and announced it had cut almost 2,500 jobs since the start of the year.

R. Allen Stanford was arraigned on charges tied to an alleged Ponzi scheme, as prosecutors alleged he controlled a $100 million Swiss bank account from which bribes were paid to an auditing firm.

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Personal income jumped more than expected, helped by an increase in unemployment benefit payments and lower taxes, while consumer spending edged higher, the government said Friday.

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