UNITED STATES

U.S. Federal Reserve Chairman Ben Bernanke said on Friday congressional proposals to audit the Fed and strip it of regulatory powers as part of post-crisis reforms could damage prospects for economic recovery and financial stability going forward.

Bank of America Corp , the largest U.S. bank, amended on Friday the compensation agreements of two senior executives, following a review by the pay czar.

Federal Reserve Chairman Ben Bernanke said on Friday congressional proposals to audit the Fed and strip it of regulatory powers as part of post-crisis reforms could damage prospects for economic and financial health in the future.

Dubai, jobs data, Black Friday results and a chance for Congress to throw fireballs at Fed chief Ben Bernanke: The U.S. stock market's path to glory is fraught with peril next week.

U.S. consumers turned out in strong numbers to hunt for holiday bargains on Black Friday, though many said they were spending selectively and industry executives questioned whether the momentum would last.

The Treasury and Federal Reserve on Friday delayed the implementation date for a new Internet gambling payment ban for six months, a move that gives lawmakers time to overturn it or end confusion over illegal practices.

The U.S. Treasury and Federal Reserve on Friday delayed the implementation date for a new Internet gambling payment ban for six months, a move that gives lawmakers time to overturn it or end confusion over illegal practices.

Rising fears of a possible debt default at a Dubai state-owned conglomerate is the catalyst for an overdue correction in equities and risk assets, the chief executive of top bond fund manager Pimco said in an interview on Friday.

World leaders expressed confidence in the global economic recovery on Friday despite fears about a debt default by Gulf emirate Dubai, while major banks played down their exposure to the debt.

Honduras chooses a new president on Sunday in an election that may defuse a crisis caused by a coup against President Manuel Zelaya, but the vote is splitting Washington and Latin America.

The White House gave a mixed reaction on Friday to China's plans to cut its carbon intensity levels, welcoming the proposal but saying the world would watch whether Beijing kept its promises to tackle climate change.

The growing influence of the Web to distribute news, video and other content, combined with the lingering economic malaise, have left many media executives and investors uncertain about where to make their next bets.

COMEX December gold GCZ9 settled down $12.80, or 1.1 percent, at $1,174.20 an ounce on the COMEX division of NYMEX.

Oil prices settled down more than 2 percent at about $76 a barrel on Friday as fears of possible defaults in Dubai convulsed financial markets and boosted safe-haven demand for the U.S. dollar.

Fears of a possible Dubai debt default rippled through markets for a second day on Friday, but the exodus from stocks and rush to the safe-haven U.S. dollar slowed as investors discounted contagion.

U.S. shoppers turned out in strong numbers at the start of the holiday season on Friday to hunt for bargains, though many said they were spending more selectively.

As the world wrangles over how to fight climate change, with national leaders to meet in Copenhagen early next month, capital markets are gearing up to handle the consequences if the effort fails.

British banks have far greater exposure to potential problem debts in the United Arab Emirates than rivals in France, the United States, Japan or anywhere else, loans data show, as worries mount about the region.

Oil prices dropped over 2 percent to nearly $76 a barrel on Friday as fears of possible defaults in Dubai convulsed financial markets and boosted safe-haven demand for the U.S. dollar.

U.S. stocks fell more than 1 percent in a truncated session on Friday as a possible debt default by a Dubai state-owned conglomerate led to fresh concerns about the global financial system.

The world is losing patience with Iran's behavior over its nuclear program and Tehran will be responsible for the consequences if it fails to meet its obligations, the White House said on Friday.