NEW YORK�(CNNMoney) -- A selloff on Wall Street accelerated late Thursday as investors were not taking any chances ahead of the government's all-important jobs report. The Dow Jones industrial average (INDU) fell 180 points, or 1.4%, about 15 minutes before the closing bell. The S&P 500 (SPX) was down 17 points, or about 13%. The Nasdaq (COMP) sank 20 points, or 0.7%. The broad-based retr.. more

NEW YORK (CNNMoney) -- Connecticut residents: Get ready to pay more taxes! Governor Dannel Malloy on Wednesday signed a $40.1 billion budget that raises taxes on sales, income, cigarettes and corporations. The two-year plan, which also cuts spending, depends on state employees agreeing to $2 billion in concessions between now and 2013. The governor said he could send out more than 4,000 layoff n.. more

NEW YORK (CNNMoney) -- Despite the Great Recession, which wiped out $15.5 trillion in household wealth in the United States alone, the number of millionaires in this country and abroad will grow rapidly over the next decade, according to a recent report. In the U.S., the total number of families with a net worth of over $1 million will double by 2020, according to the report by the Deloitte Cente.. more

NEW YORK (CNNMoney) -- Demand for gasoline, which has seen a price spike at the pump has dropped sharply, a government report revealed Wednesday. Gasoline demand fell to 8.943 million barrels per day from 9.148 million a week ago, according to the U.S. Energy Information Administration. That suggests Americans are adjusting their consumption habits as prices shoot through the roof. The national.. more

NEW YORK (CNNMoney) -- Round-trip airfare from New York to Los Angeles. More than a dozen dinners for two at Applebee's. Two 16 GB iPod nanos. These are just a few of the things you could have bought if you weren't spending $368.09 a month on gasoline. That's the average amount American households spent on gas in April, according to an exclusive analysis of data by the Oil Price Information Serv.. more

NEW YORK�(CNNMoney) -- U.S. futures were set for a lower open Thursday, as investors brace for European Central Bank's announcement and more labor market data. Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were all slightly lower ahead of the opening bell. Futures measure current index values against perceived future performance. Stocks ended in the red Wedn.. more

FORTUNE -- Wal-Mart wins the battle for No. 1 for the second year in a row, knocking out its chief competitor for the title of America's largest company, Exxon Mobil. The retail champ earned its place at the top with a staggering $421 billion in sales. And despite softness in the U.S. market and a nagging class action suit alleging sex discrimination that's currently before the U.S. Supreme Court.. more

NEW YORK (CNNMoney) -- Shares of Renren, China's largest social-networking service, jumped 39% Wednesday in its debut on the U.S. stock market. Renren (RENN) started its first day of trading on the New York Stock Exchange at $14 a share, but it quickly rose to $19.50 in morning trading. The so-called Facebook of China upped its debut price. Last month, it said in a filing to the Securities and E.. more

Back in 2007, a young Twitter first proved its usefulness as a meet-up tool for conference goers at the South by Southwest festival in Austin, Texas. Ever since, the service, created in 2006, has continued to fill a short communication niche -- perfect for breaking news. As Twitter gained steam, many major news events have carried second-day headlines about how it and other social media sites lik.. more

WASHINGTON (CNNMoney) -- Silicon Valley has become a force to be reckoned with on Capitol Hill, spending more than $100 million on lobbying and tens of millions on campaign contributions. Internet and computer companies spent $30 million on lobbying in the first three months of 2011, according to an analysis by the Center for Responsive Politics. And that's on top of a whopping $121 million in 20.. more