Gulf oil dilemma: accept payout from BP or sue? (AP)

AP - Alabama seafood market owner David Scott faces a difficult decision as he tries to rejuvenate his business after the Gulf oil spill: He can accept a piece of BP's $20 billion claims fund — relatively fast, easy money — or sue the oil giant for a bigger payday, wait years and risk ending up with nothing.

Reuters - Canadian Finance Minister Jim Flaherty said on Thursday he is concerned by the record high trade deficit Canada had in July and he called on the private sector to step up investment to improve productivity and help support economic growth. Canada's monthly trade deficit in July rose more than expected as anemic demand from the United States sapped exports, while imports surged to their highest level since November 2008.

Data shows economic recovery still on track (Reuters)

Reuters - New U.S. claims for unemployment benefits fell more than expected last week to a two-month low, while the trade deficit narrowed sharply in July, hopeful signs for the stuttering economic recovery.

Wall Street boosted by upbeat economic data (Reuters)

Reuters - Stocks rose on Thursday as better-than-expected jobs and trade gap data improved fragile investor optimism over the economic recovery.

Struggling Spain OKs labor market reforms (AP)

AP - Spain gave final approval Thursday to labor market reforms designed to shake up a listless economy and help slash a bloated deficit that has prompted European-wide worries of another Greek-style debt crisis.

UK watchdog fines Goldman Sachs $27 million (Reuters)

Reuters - Britain's financial watchdog fined Goldman Sachs Group Inc 17.5 million pounds ($27 million) for failing to tell the regulator that it was the subject of a U.S. probe, reviving disclosure headaches for the Wall Street powerhouse.

McDonald's shares fall on limp sales in France (Reuters)

Reuters - McDonald's Corp reported softer-than-expected August sales in Europe, its biggest revenue market, due to weakness in France, sending its shares down nearly 3 percent.

US trade deficit narrows sharply in July (AFP)

AFP - The US trade deficit dropped more than expected in July as exports reached their highest level in two years, official data showed Thursday, boosting hopes for the US economic recovery.

Web Impostors May Face Prison in California (BusinessWeek)

BusinessWeek - California Web impostors beware: You may soon be breaking the law, even if you aren't one of the perpetrators targeted by the state's "e-personation" bill.

Obama firm against tax cuts for rich (Reuters)

Reuters - President Barack Obama stood firm on Thursday in opposition to a Republican push to extend Bush-era tax cuts for the rich but stopped short of threatening to veto such a measure if passed by Congress.

Toys R Us to double U.S. store print for holiday season (Reuters)

Reuters - U.S. retailer Toys R Us, which has filed for an initial public offering, said it plans to open about 600 temporary stores in malls and shopping centers nationwide, doubling the number of store locations for the holiday season.

British MPs to grill BP CEO Hayward (Reuters)

Reuters - British Members of Parliament (MPs) will next week grill outgoing BP Plc Chief Executive Tony Hayward, as part of an investigation into risks around deepwater drilling in the North Sea.

India car sales hit all-time high in August (AP)

AP - Car sales in India surged to a record for a second straight month in August on strong demand before the holiday season, despite rising prices and supply constraints.

Detroit gets rare assist from suburbs for fires (AP)

AP - As exhausted Detroit firefighters battled wind-fed blazes burning wild in some neighborhoods and threatening to char much of the city, a half-dozen departments from surrounding communities brought in sorely needed — and gladly accepted — help.

FDIC's Bair warns of government "exposure" in mortgages (Reuters)

Reuters - A key U.S. banking regulator raised concern on Wednesday about the risk of "exposure" the government is taking on in the mortgage market and urged more stringent standards for underwriting mortgages.

Spartech posts fiscal 3Q loss, misses expectations (AP)

AP - Plastic sheet and packaging maker Spartech Corp. reported a net loss for its fiscal third quarter on Wednesday and said that despite higher revenue, the overall market recover is slower than expected.

Kuwait appoints first stock market regulator (AFP)

AFP - Kuwait has appointed its first independent regulatory body, the Capital Market Authority, to oversee its stock exchange, Commerce Minister Ahmad al-Harun said on Wednesday.