Sponsored by BNP Paribas

For a growing number of oil traders, there's a new math at work in the traditional career calculus: why take the stress, long hours and uncertainty of a Wall Street job when the easy money is in physical trading?

Belgian-based financial group Fortis said on Monday it faces a legal claim for 362.5 million euros ($506 million) from a former unit now owned by the Dutch state.

French bank BNP Paribas raised its average U.S. crude oil price forecast for 2010 on Monday to $75 a barrel from $63.

Oil rose to a six-month high above $66 per barrel on Friday, on track for its largest monthly percentage gain in more than a decade, after Japanese and U.S. data suggested the economic downturn may be moderating.

Banks will be more closely scrutinized under European Union plans unveiled on Wednesday to apply lessons from the credit crunch and better protect investors hit by the worst financial crisis in decades.

Oil prices briefly pushed above $62 a barrel on Wednesday to touch a new six-month high on bullish inventory data and a spate of refinery accidents in the United States, in spite of weak market fundamentals.

Japan's economy shrank a record 4.0 percent in the first quarter as domestic demand and investment buckled, threatening to crush an anticipated export-led rebound in the second half.

The Australian dollar and emerging market currencies slid on Wednesday as investors began to question how much longer a near three-month rally in riskier assets can last without evidence of a sustained economic recovery.

Japan's economy shrank a record 4.0 percent in the first quarter as domestic demand and investment buckled, threatening to crush any export-led rebound later this year.

Oil prices rose on Tuesday, touching a six-month high over $60 a barrel as a flurry of U.S. refinery problems stoked supply fears leading into peak summer driving season.

Oil prices rose on Tuesday as a flurry of U.S. refinery problems stoked supply fears leading into peak summer driving season.

Oil slipped from a six-month high above $60 a barrel on Tuesday along with other commodities and stock markets as data showed U.S. housing starts fell to a record low in April, tempering hopes of economic stabilization.

Europe’s largest bank, BNP Paribas Group, said on Tuesday said it has finalized acquisition to Fortis Bank with the approval of the Europe commissioner, in a deal that the biggest banking group across the Europe.

Oil prices rose more than a dollar on Tuesday to a six-month high above $59 a barrel, boosted partly by a weaker dollar and gains on equity markets.

Oil prices rose more than a dollar on Tuesday to a six-month high above $59 a barrel, boosted partly by a weaker dollar and gains on equity markets in Europe.

U.S. employers cut 539,000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy's steep decline might be easing and gave the stock market a boost.

U.S. employers cut 539,000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy's steep decline might be easing and gave the stock market a boost.

A trio of top European banks showed bad debts are ratcheting up as economies worsen and unemployment rises, although investor optimism ahead of U.S. bank stress test results drove shares to year highs.

British bank Barclays Plc said first-quarter profit rose 15 percent as strong growth at its investment banking arm made up for a big jump in bad debts as economies worsen, sending its shares to a seven-month high.

Societe Generale slumped to a surprise loss in the first quarter as higher-than-expected writedowns and provisions hit the bank's earnings.

Societe Generale slumped to a surprise loss in the first quarter as higher-than-expected writedowns and provisions hit the bank's earnings.

Bank of America needs $34 billion in extra cash, a source familiar with U.S. government stress tests on leading banks told Reuters, unsettling markets and stoking talk of a possible asset sale in China.

World stocks steadied around the previous day's near four-month high on Wednesday while the yen jumped as concerns over the health of Bank of America offset the impact of strong results from BNP Paribas.

France BNP Paribas said Wednesday it has approved its sales from the Belgium Fortis Holding’s shareholders, in a deal that builds a new industry as the biggest banking group across the Europe by €540 billion or $706 billion deposits.

Daniel Bouton, the chairman of Societe Generale whose reputation was hit by a trading scandal at the bank, resigned and blamed relentless verbal attacks on his performance for his decision to quit.

Daniel Bouton, the chairman of Societe Generale whose reputation was hit by a trading scandal at the bank, said on Wednesday he would resign in the wake of repeated criticism over his performance.

Shareholders of Fortis approved the sale of assets to France's BNP Paribas in Belgium on Tuesday, bringing the carve-up of the stricken group a step closer to conclusion.

The chairman of Fortis is optimistic investors will back a deal to sell assets to France's BNP Paribas, even without the support of Fortis's largest shareholder, he said on Monday.

New orders for U.S. durable goods slipped 0.8 percent in March, far less than Wall Street expected, while their gain in February was revised downward, Commerce Department data showed on Friday.