Wall Street rises with energy, but techs lag NEW YORK (Reuters) - The Dow and S&P 500 gained modestly on Friday, led higher as energy shares were boosted by a jump in oil prices, but weak tech stocks and light volume capped gains.
Nokia brings in Microsoft exec to replace CEO HELSINKI/LONDON (Reuters) - Nokia has hired Stephen Elop, a Canadian Microsoft executive with Silicon Valley credentials, to replace its embattled chief executive and renew its drive to compete with Apple.
July wholesale inventories jump 1.3 percent WASHINGTON (Reuters) - Wholesale inventories surged the most in two years in July, adding to signs that economic growth in the third quarter of the year may prove a bit stronger than many forecasters had expected.
Regulators probe fund-of-funds firms in sweep NEW YORK/WASHINGTON (Reuters) - Securities regulators are probing "fund-of-funds" firms that channel investors' money into hedge funds, looking at supervision of client assets and potential conflicts of interest, according to a person familiar with the matter.
Deutsche Bank set to lead likely Basel cash call charge FRANKFURT/LONDON (Reuters) - Deutsche Bank is set to lead rivals raising billions of euros as new global capital rules to be unveiled this weekend bite, and showed it may be good to get the jump on the pack.
Treasury's Barr to testify on Fannie and Freddie WASHINGTON (Reuters) - Michael Barr, assistant treasury secretary for financial institutions, and Edward DeMarco, acting director of the Federal Housing Finance Agency will testify on Capitol Hill next week on the future of Fannie Mae and Freddie Mac .
International Paper, others face price-fixing lawsuit NEW YORK (Reuters) - A Minnesota company has filed an antitrust lawsuit accusing International Paper Co, Packaging Corp of America and several rivals of conspiring to fix prices on containerboard, which is used to make cardboard boxes.
BP evicted from ethical index, delays Q3 results LONDON (Reuters) - BP is to be evicted from the FTSE4Good ethical investment index due to its Gulf of Mexico oil spill, index compiler FTSE said on Friday, as BP said it would delay its third-quarter results due to the challenges of accounting for spill costs.
Oil rises to $76 on U.S. supply outage NEW YORK (Reuters) - U.S. crude rose more than 2 percent to $76 a barrel on Friday following the shutdown of a major pipeline supplying Canadian oil to the United States, but a leading forecaster said world demand would remain tepid.
Obama says Koran burning can badly damage U.S. abroad WASHINGTON (Reuters) - President Barack Obama said on Friday the burning of Korans on U.S. soil could deeply harm the United States abroad and he hoped a Florida pastor would drop a plan to do this.
Obama says Republicans holding recovery hostage WASHINGTON (Reuters) - President Barack Obama accused Republicans on Friday of holding the middle class hostage as he pushed new ideas to stimulate the sluggish U.S. economy and try to reverse Democrats' grim election prospects.
U.S. troops charged with murder of Afghan civilians WASHINGTON (Reuters) - Twelve U.S. soldiers have been charged with gruesome crimes in Afghanistan ranging from murdering civilians to keeping body parts as war trophies -- revelations that the Pentagon said on Thursday damaged America's image around the world.
Judge rules ban on gays in military unconstitutional WASHINGTON (Reuters) - The U.S. military rule banning openly gay people from serving in the armed forces violates constitutional rights to free speech and due process, a federal judge in southern California ruled Thursday.
Four dead in San Francisco suburb gas line inferno SAN BRUNO, California (Reuters) - At least four people died after a gas line explosion and fire razed 38 homes in a San Francisco suburb, and officials expected the death toll to rise on Friday as firefighters search the wreckage.
Hitmen kill 25 in bloodiest day on Mexico-U.S. border CIUDAD JUAREZ, Mexico (Reuters) - The murders of 25 people by suspected drug hitmen on the U.S.-Mexico border on Thursday was the bloodiest day in almost three years in an area gripped by an escalating drug war, officials said on Friday.
U.S. resumes funding controversial stem cell research WASHINGTON (Reuters) - The U.S. government said it was resuming work on controversial human embryonic stem cell research on Friday after an appeals court ruled in its favor.
Obama sees enormous hurdles in Mideast peace talks WASHINGTON (Reuters) - President Barack Obama said on Friday he saw "enormous hurdles" ahead in Middle East peace negotiations, but said it was a risk worth taking and the United States would remain engaged even if talks break down.
Obama taps Goolsbee as top White House economist WASHINGTON (Reuters) - President Barack Obama has chosen Austan Goolsbee as the new head of the White House Council of Economic Advisers, U.S. administration officials said on Thursday, promoting a longtime adviser from his inner policy circle.
Japan PM widens lead in party leadership race TOKYO (Reuters) - Prime Minister Naoto Kan has widened his lead over powerbroker Ichiro Ozawa ahead in a party leadership vote, Kyodo news agency said on Friday, days before the contest that could set Japan's fiscal priorities.
Obama says Koran burning can badly damage U.S. abroad WASHINGTON (Reuters) - President Barack Obama said on Friday the burning of Korans on U.S. soil could deeply harm the United States abroad and he hoped a Florida pastor would drop a plan to do this.
U.S. troops charged with murder of Afghan civilians WASHINGTON (Reuters) - Twelve U.S. soldiers have been charged with gruesome crimes in Afghanistan ranging from murdering civilians to keeping body parts as war trophies -- revelations that the Pentagon said on Thursday damaged America's image around the world.
Kremlin talks tough after Caucasus attack YAROSLAVL, Russia (Reuters) - President Dmitry Medvedev demanded tough action against militants on Friday after a suicide bombing killed at least 18 people, and an insurgent leader called for more attacks outside Russia's Muslim regions.
Man held in Denmark after trying to blow himself up COPENHAGEN (Reuters) - Danish police have detained a man after he tried to blow himself up in a hotel in central Copenhagen, Danish media reported Friday.
Iran denies secret nuclear site claim TEHRAN (Reuters) - Iran said Friday it had no covert uranium enrichment facility after a dissident group claimed it had evidence of a new secret underground atomic site in the Islamic state, a news agency reported.
Italy's Berlusconi downplays election talk YAROSLAVL, Russia (Reuters) - Italian Prime Minister Silvio Berlusconi played down talk of early elections Friday, saying he would keep going for his full term, despite months of speculation that his government will fall prematurely.
Child abuse widespread in Belgian Church: report BRUSSELS (Reuters) - Child sexual abuse was widespread in the Belgian Catholic Church and drove at least 13 victims to suicide, according to a report published on Friday.
Bosnian Serbs could face new Srebrenica war crimes trial AMSTERDAM (Reuters) - Six former Bosnian Serb military leaders convicted of crimes related to the 1995 Srebrenica massacre of thousands of Muslims could face more charges or longer sentences after the prosecution filed an appeal.
Moscow mayor vows to stay after Medvedev attack YAROSLAVL, Russia (Reuters) - Moscow's powerful longtime mayor said Friday he plans to stay in office after Russian President Dmitry Medvedev gave him a dressing-down in a row that will test Medvedev's powers.
Planes put out giant oil fire on Caribbean island KRALENDIJK, Netherlands Antilles (Reuters) - A huge blaze that ignited when lightning hit a 200,000-barrel naphtha tank on the tiny Caribbean island of Bonaire was put out on Friday after Venezuelan planes doused it with chemical foam.
Goldman Names Asset Management Chairman Jim O'Neill, the Goldman Sachs economist best known for coining the BRIC acronym, has been named chairman of the firm's asset management business.
Starr Pleads Guilty to Fraud Charges Kenneth I. Starr, the former hotshot money manager whose clients included Hollywood celebrities, pleaded guilty on Friday to fraud charges.
Barclays' BP Hirings: A Buildup of Its Energy Team Barclays Capital has hired seven sales executives from BP, in a move meant to bolster its energy trading business in North America, according to an internal memorandum obtained by DealBook.
Bell Canada Retakes Control of TV Network It is the latest of a series of deals that have brought several of Canada's largest media companies under new ownership, in some cases cable television operators.
What Does Nokia's New Chief Mean for M.&A.? Nokia's announcement Friday that it had chosen a senior Microsoft manager as its next chief executive has provided fodder for the dream machine in deal land.
Debt Be Proud U.S.investment-grade debt issuance swelled to its highest weekly total since May 2008, Thomson Reuters data shows.
JPMorgan and UBS Said to Test BlackBerry Rivals JPMorgan Chase may soon let employees use iPhones for corporate e-mail, making it an alternative to Research in Motion's BlackBerry at the bank for the first time, two people familiar with the situation told Bloomberg News.
Bankers Hired for Jimmy Choo The private equity firm that has owned Jimmy Choo since 2007 has announced that it has retained Goldman Sachs and Morgan Stanley to consider long-term strategic alternatives for the brand.
Morning Take-Out David Brooks's lament; the story behind a wikipedia entry; hipster dinosaurs.
Nokia Turns to Microsoft for New Chief Executive Nokia, the leading mobile phone maker, replaced its chief executive, Olli-Pekka Kallasvuo, on Friday with the head of Microsoft's business unit in a bid to turn around the handset maker's struggling smartphone lineup and stop a decline in U.S. market share.
Deutsche Poised for $11.4 Billion Share Issue Deutsche Bank, the largest German lender, is set to announce a share issue of up to 9 billion euros as it prepares for more stringent banking regulations and seeks to acquire a larger stake in Postbank, a person with direct knowledge of the matter told DealBook.
Lehman Investigation Said to Be Closing In In the Securities and Exchange Commission's investigation into the fall of Lehman Brothers, scrutiny has turned to an accounting maneuver that was designed to give the impression that the failed bank's debt levels were lower than they were, The Wall Street Journal reported.
Korean Pension Fund Eyes Woori Finance Stake National Pension Service, South Korea's biggest investor, said it is open to teaming with Hana Financial Group Inc. or joining others to buy a stake in Woori Finance Holdings.
Judge Reinstates eBay's 29.4% Craigslist Stake A judge on Thursday reinstated eBay 28.4 percent stake in Craigslist, but allowed the classifieds site to keep eBay off its board, Reuters reported.
Dubai World Finalizes Restructuring Dubai World, the emirate's state-run investment arm, said Friday that 99 percent of its creditors had agreed to the terms for restructuring $24.9 billion worth of debt, less than a year after the troubled conglomerate spooked global markets when it stopped paying interest on loans accumulated before the financial crisis.
Nokia Turns to Microsoft for New Chief Nokia said it had appointed Stephen Elop, a Canadian who has run Microsoft?s largest division, to replace Olli-Pekka Kallasvuo, a 30-year Nokia veteran.
Bell Canada Retakes Control of TV Network Bell Canada will pay $1.25 billion for the 85 percent of CTV that it did not own. In a separate deal, a holding company for the Thomson family will take an 85 percent stake in The Globe and Mail.
Japan Gears Up to Push Down the Yen Prime Minister Naoto Kan said Japanese officials were in talks with their counterparts overseas to lay the groundwork for a possible intervention on currency markets.
China?s Trade Surplus Narrows, as Imports Jump Economists were surprised by the size of the growth in China?s imports, which rose 35.2 percent in August compared with the same month a year ago.
French Carmakers to Repay Some Government Aid Early Renault and Peugeot Citroen said they have begun to repay the billions in government aid that they received to help them through the financial crisis and recession.
Dubai World Says It's Close to Agreement on Debt The emirate's state-run investment arm said Friday that 99 percent of its creditors had agreed to the terms for restructuring $24.9 billion worth of debt.
Ron Bloom Is Obama?s Manufacturing Emissary The administration has pledged tax credits and subsidies to spur manufacturing but has said the lead must come from the private sector.
Nokia Turns to Microsoft for New Chief Nokia said it had appointed Stephen Elop, a Canadian who has run Microsoft?s largest division, to replace Olli-Pekka Kallasvuo, a 30-year Nokia veteran.
Bell Canada Retakes Control of TV Network Bell Canada will pay $1.25 billion for the 85 percent of CTV that it did not own. In a separate deal, a holding company for the Thomson family will take an 85 percent stake in The Globe and Mail.
The Story Behind a Wikipedia Entry A blog devoted to literature in a digital age takes a look at the story behind every Wikipedia entry and the writers' opinions and creative process.
Combat Game Goes Too Far for Military Air Force and Navy bases said they would refuse to sell a soon-to-be-released combat-simulation game, Medal of Honor.
Google Unveils Tool to Speed Up Searches Google?s change may save users time, but may also affect the many businesses that have been built around placing search ads on the site.
H.P. Sues Its Ex-Chief in New Job The lawsuit comes a day after the former Hewlett-Packard chief executive was hired by Oracle, the database software maker.
Once a Dynamo, the Tech Sector Is Slow to Hire Despite soaring profits, high-tech companies have been slow to hire ? a sign of just how difficult it will be to address persistently high joblessness.
Netflix?s Missed Connection The online movie-rental and streaming service shut down the community segment of its site. That's shame, as it would have been a great place to find a date.
Royal Mail sell-off is confirmed The government confirms it is to press ahead with a complete sale of Royal Mail, following an updated review of the postal service.
Connaught sale saves 2,500 jobs About 2,500 jobs are saved after administrators KPMG agree to sell most of Connaught's failed social housing group.
Microsoft executive to lead Nokia Finnish mobile phone giant Nokia appoints Microsoft business manager Stephen Elop as its new head after a profits slump.
US jobs recovery 'painfully slow' US President Barack Obama has said that progress in pulling the American economy out of recession has been "painfully slow".
Deutsche 'set to raise 9bn euros' Shares in Germany's Deutsche Bank fall sharply after reports that it is planning to raise 9bn euros to shore up its finances.
Broadband switch 'too difficult' Telecoms watchdog Ofcom aims to address the fact that switching broadband providers is viewed as "too much hassle".
Passengers down at BAA airports Passenger numbers are down at most of the UK's major airports, with Glasgow the worst affected.
US cuts wheat production forecast The US Department of Agriculture cuts its forecast for global wheat production in 2010-11, but by less than expected.
7-Eleven makes offer for Casey's 7-Eleven, the largest convenience store chain in the US, has offered $2bn to buy smaller rival Casey's General Stores.
China imports in surprise surge China reported a surprise surge in imports during August, leading to a fall in its trade surplus to $20bn.
Race-row German banker quits post A German banker at the centre of a row over comments he made about Jews and Muslims agrees to leave his post, the Bundesbank says.
Air Zimbabwe strikers 'face sack' Air Zimbabwe has warned striking pilots that they could lose their jobs unless they return to work, according to state media.
Welfare bill faces extra £4bn cut The government is planning to reduce the annual welfare bill by a further £4bn, Chancellor George Osborne tells the BBC.
Bmibaby luggage gauges too small Budget airline Bmibaby has been charging customers to put bags in the hold when they are small enough for the cabin, the BBC learns.
UK interest rates remain at 0.5% The Bank of England keeps UK interest rates on hold at a record low of 0.5% for the 18th consecutive month.
Spending cuts 'to hit north harder' Industrial areas in the North East and Midlands are least resilient to economic shocks, BBC-commissioned research suggests.
Shoppers turning to card payments The number of cash machines in the UK has fallen and withdrawals have dropped as shoppers turn to cards, figures show.
Income tax: Interest may be added HM Revenue & Customs says it is impossible to tell how many taxpayers may have to pay interest as a result of tax errors.
Fat cat pensions 'worth millions' Directors of big companies enjoy hugely generous pensions while cutting workers' pension entitlements, the TUC alleges.
Global economy slowing, says OECD The global economic recovery is slowing faster than forecast, but a return to recession is unlikely, an economic group says.
Obama pleads for Koran row calm US President Barack Obama warns Americans they must not turn on each other in the row over a pastor's threat to burn the Koran.
40,000 police jobs 'threatened' As many as 40,000 front-line police jobs may be at risk across England and Wales if funding cuts of 25% go ahead, the Police Federation says.
Wayne Rooney requesting privacy Wayne and Coleen Rooney ask the media to respect their privacy following recent press allegations about his personal life.
Royal Mail sell-off is confirmed The government confirms it is to press ahead with a complete sale of Royal Mail, following an updated review of the postal service.
Church abuse detailed in Belgium Harrowing details of alleged sex abuse by Roman Catholic clergy in Belgium are released by an official Church investigator.
Connaught sale saves 2,500 jobs About 2,500 jobs are saved after administrators KPMG agree to sell most of Connaught's failed social housing group.
Jones wants to be first minister Plaid Cymru leader Ieuan Wyn Jones tells his party conference that after next year's assembly elections he wants to be first minister of Wales.
Garden burial murder son jailed A man is jailed for at least 16 years for murdering his father and burying his remains in concrete in a garden in Buckinghamshire.
Several die in California blast At least four people have been killed in an explosion which tore through a town near San Francisco, officials say.
Investors bet on prisoner rehab A "payment-by-results" project to cut reoffending is officially launched, with investors getting a return only if reoffending drops.
Japan uncovers centenarian 'scam' More than 230,000 elderly people in Japan who are listed as being aged 100 or over are unaccounted for, officials said following a nationwide inquiry.
C4 bids farewell to Big Brother Former air steward Brian Dowling is the bookies' favourite to win Ultimate Big Brother as the Channel 4 reality show comes to an end.
Naturist gardener gives council a dressing down A naturist claims a council has breached his human rights after it approved plans for houses overlooking his garden in a West Yorkshire village.
Revealed: The 'knicker spy' who sang for Hitler A photograph of a little-known World War II spy who sang for Adolf Hitler while concealing secret documents in her knickers is to be sold at auction.
England defeat spirited Pakistan England compound Pakistan's off-field problems with a comfortable 24-run win at Durham to take a 1-0 lead in the five-game one-day international series.
Vettel heads Ferrari duo at Monza Red Bull's Sebastian Vettel steals Ferrari's thunder to set the pace in practice at the Italian Grand Prix.
Ferguson brushes off Rooney talk Manchester United boss Sir Alex Ferguson refuses to discuss Wayne Rooney's off-field problems or the hostile reception he might face at Everton on Saturday.
Live text - US Open day 12 Caroline Wozniacki meets Vera Zvonareva before Venus Williams faces Kim Clijsters on women's semi-finals day at the US Open.
Three jailed over 'filmed' rape Three men are jailed for a sex attack on a woman which only came to light when the victim saw footage of it on a mobile phone.
Boxing game to aid health fight A boxing game is spearheading attempts to get middle-aged men in Teesside to get more regular exercise.
Broadband switch 'too difficult' Telecoms watchdog Ofcom aims to address the fact that switching broadband providers is viewed as "too much hassle".
Sex movie worm spreads worldwide A malicious program that falsely promises free access to sex movies is racking up victims around the world, warn security firms.
Apple lays App Store rules bare Apple says that it will publish the guidelines it uses to determine which programs it sells in its App Store to appease critical developers.
Microsoft executive to lead Nokia Finnish mobile phone giant Nokia appoints Microsoft business manager Stephen Elop as its new head after a profits slump.
Smartphone chip battle heats up Intel is to launch its first chip with built-in graphics, while established phone chipmaker ARM releases a fast new chip.
Google unveils 'instant' searches Google speeds up its internet search engine by launching a new product called Instant that displays results as soon as users type in queries.
Broadband speed gets laser boost A kind of "auto-tune for data" developed by a European team may help increase the capacities of long-haul fibre optic cables.
European police in pirate raids Premises across Europe, including a Swedish university, have been raided by police in a piracy crackdown
TalkTalk rapped for malware trial The UK's Information Commissioner has reprimanded ISP TalkTalk over recent unpublicised trials of its anti-malware system.
PS3 update blocks hardware hack Sony has released a "minor" update for its PlayStation 3 that closes a loophole that allowed users to run pirated software.
HP sues Hurd over new Oracle job Hewlett Packard files a lawsuit against its former head Mark Hurd to try and stop him joining database software maker Oracle.
Celebrity investment adviser pleads guilty to fraud Investment advisor Kenneth Starr, who managed money for "high net-worth and celebrity clients," pleaded guilty Friday to charges he stole up to $50 million from investors.
PG&E shares fall after deadly explosion Shares of Pacific Gas & Electric tumbled 6% Friday after a gas pipeline in California exploded and erupted into flames.
Plastic panic: Visa, MasterCard in bargain bin The second most famous quote from the movie "The Graduate" --- the top undoubtedly has to be "Mrs. Robinson, you're trying to seduce me." -- is the one where Mr. McGuire wants to tell Dustin Hoffman's Benjamin "just one word" about his future.
InDinero makes small business finances a snap Managing financial data is often a nightmare for small business owners. Most can't afford pricey accountants, and few have the bookkeeping and organizational skills to do the job well themselves.
Obama coy on who will lead consumer agency President Obama reiterated Friday the need for a new consumer financial protection regulator, although he would not officially say who he wants to run the agency.
Relax, car shopping's getting easier The cutthroat world of car pricing is getting simpler and gentler for car buyers but more ruthless for car dealerships.
Frugal Fridays: $260 vs. $24.99 for a Tucker blouse Want to dress like Drew Barrymore or Cameron Diaz without a blockbuster budget? Bargain-hunting fashionistas are counting down to Sunday, when Gaby Basora's new Tucker for Target line goes on sale -- the latest in the retailer's limited-edition designer collections.
Corporate debt issuance at 3-year high A flurry of activity erupted in the corporate debt market this week as investors warmed up to the idea that the economic outlook is brightening, but weren't yet ready to dive into the stock market.
The next billionaire challenge: China's wealthiest It's already become known as the Billionaires Banquet in Beijing -- a gathering set for September 29th, hosted by two of the richest and most famous businessmen in the world: Warren Buffett and Bill Gates. Their guests are supposed to be 50 of their recently minted brethren from China, the richest of the newly rich in the world's fastest growing economy -- now the world's second largest, and someday destined to be the biggest.
Stocks get choppy in light trading Trading got choppy on Wall Street mid-Friday, as investors wavered between mildly upbeat data and ongoing fears about a slowing economy.
Nokia stock gains on CEO switch Nokia's stock rallied Friday after the Finnish mobile phone maker said it was replacing its chief executive with an executive from Microsoft Corp.
Stocks set to drift higher U.S. stocks were poised to drift higher Friday, looking to extends gains from the previous session, as worries about a stalling economy continued to ease.
Kleen Energy's fatal deal - Full version When the natural gas ignited, it caused a blast so powerful that people 30 miles away thought there had been an earthquake. Inside the almost finished power plant in Middletown, Conn., around 11:15 a.m. on Feb. 7, the explosion blew the siding off the structure, crumpled construction trailers, and sparked a conflagration that sent a dense plume of black smoke hundreds of feet in the air. Six men died. Another 50 were injured, some of them gravely.
Kleen Energy's fatal deal When the natural gas ignited, it caused a blast so powerful that people 30 miles away thought there had been an earthquake. Inside the almost finished power plant in Middletown, Conn., around 11:15 a.m. on Feb. 7, the explosion blew the siding off the structure, crumpled construction trailers, and sparked a conflagration that sent a dense plume of black smoke hundreds of feet in the air. Six men died. Another 50 were injured, some of them gravely.
Coffee prices on the rise You may soon find yourself paying more for your morning coffee - if you aren't already.
Is a college degree really worth $1 million? Dear Annie: I bet I'm not the only reader wondering about this, so I hope you can give me some advice. My 17-year-old son, starting his senior year in high school, is very bright but not a good student. He just doesn't enjoy learning in a classroom setting, or excel at taking written tests.
Trump wades into NY Islamic center controversy In an effort to end the controversy surrounding a proposed Islamic center in lower Manhattan, real estate mogul Donald Trump has offered to buy the property at a 25% premium.
Allergan's Botox fine: good marketing? Allergan launched a marketing campaign to promote Botox for treating migraines, despite the fact that the FDA never gave it the green light. As punishment, the company received a bill for $600 million -- in the form of a fine and settlment -- from the Department of Justice.
Reducing obesity won't lower health costs A new government report quantifies the rise in health care spending due to the nation's growing obesity problem, but says that costs would rise even if America lost weight.
Nokia Names Microsoft’s Elop CEO as Apple Wins Market Nokia Oyj named Stephen Elop, head of Microsoft?s business unit, as CEO after the world?s largest mobile-phone maker?s struggles to take on Apple?s iPhone wiped $61 billion off its market value
JPMorgan Said to Test IPhone as More Bankers Bypass BlackBerry JPMorgan Chase & Co. may soon let employees use iPhones for corporate e-mail, making it an alternative to Research in Motion Ltd.?s BlackBerry at the bank for the first time, two people familiar with the situation said.
The Man Who Makes Your iPhone Foxconn founder Terry Gou might be regarded as Henry Ford reincarnated if only a dozen of his workers hadn't killed themselves this year. An exclusive look inside a postmodern industrial empire
Wall Street Faces a Grim Third Quarter After a slow summer, a burst of activity in September is needed to avoid a weak quarter in investment banking and trading
Rich to Lose Cost of BMW If Bush Tax Cuts End Wealthy Americans have the price of a BMW convertible riding on the outcome of the Congressional battle over tax cuts set to expire this year.
Obama Taps Goolsbee to Lead White House Economy Panel President Barack Obama said he?s appointing Austan Goolsbee to lead the Council of Economic Advisers, calling him ?one of the finest economists in the country.?
Labor-Market Woes in U.S. Prompt Reductions in Growth Forecasts The U.S. economy will slow more than previously estimated through next year as elevated unemployment tempers consumer spending and companies trim investment plans, economists polled by Bloomberg News said.
Sanofi Said to Get $10 Billion Loans for Genzyme Bid Sanofi-Aventis SA, France?s largest drugmaker, got about $10 billion of underwritten loans to back its bid for U.S. biotechnology company Genzyme Corp., two people familiar with the situation said.
Starr, Fund Manager to Celebrities, Pleads to Fraud Kenneth Starr, a former Manhattan money manager who handled a roster of celebrities, pleaded guilty to defrauding his clients out of as much as $50 million.
Morgan Stanley Names Klopp, de Poulpiquet Co-CEOs of Real Estate Morgan Stanley, the sixth-largest bank by assets, named John Klopp and Olivier de Poulpiquet as co-chief executive officers and co-chief investment officers of its real estate investing business.
Embryonic Stem Cell Funds Resume by U.S. After Ruling Embryonic stem cell research, grants, and funding reviews at the National Institutes of Health have resumed after a U.S. judge suspended a ban, the agency said today in a statement.
Santander to Buy Allied Irish Stake in Bank Zachodni Banco Santander SA, Spain?s biggest bank, agreed to buy Allied Irish Banks Plc?s stake in Bank Zachodni WBK SA for 2.94 billion euros ($3.7 billion) to expand in Poland as growth in Western Europe stalls.
Bloomberg Loses Republican Support Over Mosque Stand, Poll Says New York Mayor Michael Bloomberg has maintained the 49 percent approval rating he received in a Marist College Poll last month, while losing support among Republicans and gaining favor with Democrats over his backing for an Islamic community center near Ground Zero.
Deutsche Bank Said to Get Underwriter Backing for Stock Sale Deutsche Bank AG, Germany?s biggest bank, is close to lining up securities firms to underwrite a rights offer of about 9 billion euros ($11.5 billion), three people with knowledge of the talks said.
Obama Presses Tax Cuts for Middle Class at News Briefing In his first full-scale White House news conference in three months, President Obama on Friday also discussed the Middle East talks, the war on terror and Islam in America.
