Bank of America Corp is beefing up its internal accounting controls after it incorrectly classified as much as $10.7 billion in short-term lending and repurchase deals for mortgage securities as sales, according to a letter filed on Friday with U.S. securities regulators.
Iraq's oil minister said on Saturday he sees no impact from the massive oil spill at a BP well in the Gulf of Mexico on Iraq's current or future projects to develop its giant oilfields.
Britain's ambassador to Lebanon said she regretted any offence caused by her blog praising Grand Ayatollah Mohammed Hussein Fadlallah, an early spiritual mentor of Hezbollah who died on Sunday.
China gave Google Inc approval to keep operating its Chinese search page, resolving a months-long censorship dispute that had threatened its future in the world's top Internet market.
Technical weekly Analysis for EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD and AUD/USD.
China's trade surplus in June topped expectations on surprising strength in exports that suggests the global economic recovery has remained on track despite worries about a fresh slowdown.
The U.S. economy will lose steam as the year progresses but will not slide back into recession, even though unemployment is unlikely to fall significantly, according to a survey released on Saturday.
U.S. regulators on Friday closed Home National Bank in Oklahoma and U.S.A. Bank in New York the Federal Deposit Insurance Corp said.
The U.S. stock market landed at a technical crossroads following its best week in a year, yet the potential for positive earnings surprises beginning next week could give an edge to the bulls.
Wells Fargo & Co will no longer offer free checking for all new customers opening accounts at the bank, a company spokeswoman told Reuters on Friday.
The founder and chairman of Barnes & Noble Inc defended a poison pill plan adopted by the largest U.S. bookseller that blocked billionaire investor Ron Burkle from amassing large amounts of stock.
Some investors are betting on major technology stocks ahead of the earnings season kicking off next week, seeing them as oversold on fears about the slowing U.S. and European economies.
Apple Inc boss Steve Jobs was a no-show at an annual pow-wow of media and technology moguls in Sun Valley. But he was far from forgotten.
A U.S. judge slashed the penalty levied by a jury against a Boston Ph.D. student found guilty in 2009 of illegally downloading and sharing songs published by some of the world's biggest recording companies.
General Growth Properties Inc wants to replace its $400 million loan, issued last year to ensure the company could operate through bankruptcy, with one that would save it $2.7 million a month in interest payments.
Wall Street closed out its best week in a year on Friday, snapping back from a long stretch of selling, as investors looked ahead to what many expect will be a solid earnings season.
Despite the recent lows that Treasury yields across the curve have plumbed, primary dealers are expecting Monday's sale of $35 billion in three-year notes to proceed without a hitch and, unless there is a significant rally immediately beforehand, without a tail.
Most U.S. counties are having to cut back on spending on safety and infrastructure in the face of monstrous revenue shortfalls, the National Association of Counties said on Friday.
Wall Street closed out its best week in a year on Friday, snapping back from a long stretch of selling, as investors looked ahead to the start of the earnings season.
Hundreds of Egyptians protested in Cairo and other cities on Friday over the death of an activist, whose case has raised concerns among Western governments and has spurred demonstrations at home calling for political change.
Securities regulators are moving quickly to tighten rules for market makers to ensure there is liquidity during stressful times and avoid a repetition of May's brief market crash, said sources familiar with the discussions.
GlaxoSmithKline Plc's diabetes pill Avandia came under intense scrutiny on both sides of the Atlantic on Friday, leaving the drug's future uncertain as its maker battles a growing tide of lawsuits.
