Crude oil prices back under $79

The U.S. Energy Information Administration said crude inventories increased by 3 million barrels in the week ending Feb. 19. At the same time, comparing four-week rolling averages, the EIA said distillate fuel demand had fallen 6.8 percent compared with the same period a year ago.

Spain may test EU's currency

After Greece, which the European Commission is pushing to reduce its debt, Spain, Ireland and Portugal could also face pressure to lower their debt ratios, The Wall Street Journal reported Thursday.

Former Madoff executive arrested

Bonventre, formerly Madoff's operations director, was arrested on eight counts based on suspicions that he helped Madoff conceal what is considered the largest Ponzi scheme in history. Madoff, who pleaded guilty to 11 counts of fraud in March, is serving a 150-year prison sentence.

Grain futures close lower Thursday

Corn was off 3 to off 3 1/4; soybeans were off 12 to off 14, wheat was off 10 to off 10 1/2 and oats were off 1 to off 2 1/4.

Greece, labor, weigh on markets

The New York Times reported investors are making bets that make it harder for Greece to dig out of a debt problem that is weakening the euro.

Analysts: Banks have Greece on a treadmill

Goldman Sachs, JPMorgan Chase and other financial firms helped sponsor Markit Group of London, which created iTraxx SovX Western Europe, an index that tracks credit default swaps that serve as insurance against defaults, The New York Times reported Thursday.

Former Madoff executive arrested

Bonventre, formerly Madoff's operations director, was arrested on eight counts based on suspicions that he helped Madoff conceal what is considered the largest Ponzi scheme in history. Madoff, who pleaded guilty to 11 counts of fraud in March, is serving a 150-year prison sentence.

Spain may test EU's currency

After Greece, which the European Commission is pushing to reduce its debt, Spain, Ireland and Portugal could also face pressure to lower their debt ratios, The Wall Street Journal reported Thursday.

Scotsman commercial ice machines recalled

About 43,000 Scotsman Commercial Modular Cube Ice Machines made by Scotsman Group LLC of Vernon Hills, Ill., include solenoids that could fail and allow for an electrical arc that poses a fire hazard to occur, the commission said.

Greece, labor, weigh on markets

The New York Times reported investors are making bets that make it harder for Greece to dig out of a debt problem that is weakening the euro.

AbitibiBowater sues Newfoundland for $500M

In 2008, the company, now under bankruptcy protection, closed its mill in Grand Falls-Windsor, Newfoundland, and laid off 800 workers.

NASA extends Johnson facilities contract

NASA said the extension and original contract with the Computer Sciences Corp. of Fort Worth, Texas, have a combined value of $130 million and are for facilities maintenance, operations, design, construction and other work at the space center through February 2012.