UNITED STATES

Oil climbed to its highest level in 2- years on Friday as supply cuts stemming from attacks on Libyan oil fields offset demand concerns spurred by a major aftershock in Japan.

Cerberus Capital Management LP and Centerbridge Capital Partners are among the bidders for Citigroup Inc's U.S. consumer-lending unit, Bloomberg News reported on Thursday, citing three people with knowledge of the matter.

President Barack Obama and congressional leaders failed to reach a deal to avert a government shutdown but narrowed their differences on Thursday in their struggle to overcome a bitter budget deadlock.

President Barack Obama and leaders in the U.S. Congress will attempt to reach a spending-cut deal that would avert a dangerous government shutdown at week's end.

After piloting the No. 2 U.S. bank through the financial crisis relatively unscathed, JPMorgan Chase & Co Chief Executive Officer Jamie Dimon is now being extremely well rewarded.

President Barack Obama and congressional leaders struggled on Thursday to overcome a bitter budget dispute and head off a government shutdown that would idle hundreds of thousands of workers.

Wells Fargo & Co said on Thursday it is shedding about 1,900 jobs, or less than 1 percent of its total workforce, as mortgage refinancings slow.

New claims for jobless benefits fell last week and retailers racked up much stronger-than-expected sales in March, signs that high fuel prices have not knocked the economy off its growth path.

With time running out, an ideological fight in the Congress over abortion and environmental issues threatened on Thursday to derail an agreement to avert a government shutdown.

Jamie Dimon, Chief Executive Officer of the second-largest U.S. bank by assets, saw his total compensation rise to $20.8 million in 2010, according to a regulatory filing by JPMorgan Chase & Co .

On the streets of America, the debate over inflation is over. Prices are too high and rising too fast, many people say.

Satellite television company Dish Network Corp can go ahead with its $320 million purchase of Blockbuster Inc, a bankruptcy judge ruled on Thursday.

Cisco Inc Chief Executive John Chambers, days after admitting that the company he has led for 16 years had lost its way, warned of competitive pressures, depressed public sector spending and tough decisions that lay ahead.

A dispute on federal funding for abortions and restraining an environmental agency's actions may be the insurmountable sticking points that trigger a government shutdown as lawmakers struggle to reach a deal to fund the government for the rest of the fiscal year.

The U.S. Department of Justice is seeking records about American clients of HSBC in India who might be evading taxes, broadening the government's probe of banks suspected of helping tax dodgers.

Chrystia Freeland has been named to the new position of editor of Thomson Reuters Digital as Thomson Reuters Corp puts more emphasis on Internet and mobile applications for its consumer news products.

With time running out, an ideological battle flared in the Congress over abortion and environmental issues Thursday as negotiators launched a late push to avert a looming government shutdown.

Oil prices ended at 2-1/2-year highs on Thursday as supply worries tied to fighting in Libya and Middle East turmoil overshadowed demand concerns spurred by a boost in euro zone interest rates and as a major aftershock struck Japan.

The prime minister of Turkey Recep Tayyip Erdogan said he is working on a roadmap to end the bloody civil war in Libya, after Turkish officials have held discussions with both members of Moammar Gaddafi’s government and officials of the rebel faction.

With time running out, an ideological battle over abortion and environmental issues threatened on Thursday to scuttle a congressional deal to avert a looming government shutdown.

U.S. stocks fell on Thursday after Japan suffered a major aftershock, which caused injuries and renewed concerns about industrial supply disruptions and nuclear power.