(NECN/AP) - Treasury Secretary Timothy Geithner is pushing Congress to move quickly in overhauling the nation's badly flawed financial rules, which he says is essential for the health of the economy.

Both the House and Senate are making progress toward revamping the current regulations, but Geithner said a rapid conclusion is needed to keep the economic recovery on track.

"To ensure the vitality, the strength and the stability of our economy going forward, we must bring our system of financial regulation into the 21st century," Geithner said in remarks

(NECN) - The unemployment rate in Massachusetts dropped from 9.3% in September to 8.9% in October, marking the first monthly decline since June of 2007.

However, nationally, unemployment now sits at 10.2% -- up from 9.8%.

The Labor Department says first-time claims for jobless benefits last week were a seasonally adjusted 505,000, the same as the previous week's revised figure and matching analysts' expectations.

NEW YORK (AP) - AOL says it plans to cut about a third of its work force once it is spun off from the media conglomerate Time Warner Inc.

That would amount to nearly 2,300 of the roughly 6,900 workers at the struggling Internet company.

AOL said in a securities filing Thursday it will impose the cuts on a voluntary and involuntary basis.

The company hopes the move will trim annual costs by about $300 million.

The job cuts still need approval from the new AOL board.

Time Warner said this week that it will spin AOL off to investors Dec. 9.

WASHINGTON (AP) - The number of newly laid-off workers seeking unemployment insurance was unchanged last week, while those continuing to claim benefits dipped.

The Labor Department says first-time claims for jobless benefits were a seasonally adjusted 505,000, the same as the previous week's revised figure and matching analysts' expectations.

The four-week average, which smooths out volatility, fell for the 11th straight week to 514,000, the lowest level in almost a year.

Economists closely track initial claims, which are considered a

(NECN: Ally Donnelly) - University of Massachusetts trustees voted Wednesday on whether or not the state should takeover an unaccredited South Coast law school to make it the first public law school in Massachusetts.

Supporters say students need an affordable, accessible legal education while critics say it's an expensive project Massachusetts can't afford.

The debate lasted three hours and often got acrimonious.

(NECN: Brian Burnell) - It's billed as the wonder of it all and some are now wondering what the future holds for Foxwoods resort casino after its owner, the Mashantucket Pequot Tribal Nation, paid only 14.2 million dollars of a 21.25 million dollar payment on a 500-million dollar loan.

The tribe said in a statement that the shortage will not be covered within the 30-day grace period so they will default on the loan. No one from the tribe would talk on camera.

(NECN) - Investors turn cautious. Stocks are down, with the major indexes off by less than half a percent.

The Dow Jones industrial average closes at 10,426-- falling 11 points.

The Nasdaq composite finishes at 2,193-- losing more than ten.

The S-and-P 500 ends at nearly 1,110-- dropping half a point.

Regionally -- Bloomberg’s New England index slips more than one and three quarters.

The New England tech stock index falls one and a quarter.

Jim Lowell, chief investment strategist at Adviser Investments has Wednesday’s Market Analysis.

(NECN) - Branding. It's about the product or service of course. But it's also about how you make that product stand out in the marketplace and in the hearts and minds of your customers.

And what do you do when a brand gets tired?

Branding expert Larry Gulko of Strategic Marketing joins NECN to discuss.

(NECN: Boston, Mass.) - The annual list of the "10 Worst Toys" was announced today. World Against Toys Causing Harm, Inc. (W.A.T.C.H) identifies hazards in toys and have been responsible for the recall or redesign of hundreds of dangerous toys.

Wednesday morning, W.A.T.C.H revealed its nominees for the 10 Worst Toys of 2009, demonstrated the hazards, and why they should be eliminated.

• Disney-Pixar Wall-E foam rocket launcher
• Moon Board Pogo Board
• Curious Baby Curious George Counting - My first book of numbers
• The Dark Knight Batman figure

WASHINGTON (AP) - Construction of new homes plunged last month as builders waited to see whether lawmakers would extend a tax credit for homebuyers.

The Commerce Department says construction of new homes and apartments fell 10.6 percent in October to a seasonally adjusted annual rate of 529,000, from an upwardly revised 592,000 in September. Economists polled by Thomson Reuters expected a pace of 600,000.

But builders could ramp up in the coming months, since Congress earlier this month gave first-time buyers until April 30 to qualify for the credit of up to $8,000.