UNITED STATES

Lawyers for Bernard Madoff argued that a U.S. court erred in jailing him pending sentencing and will ask an appeals court to reinstate his bail and house arrest, according to court papers filed on Friday.

A longtime banking executive who sold his company to a Bank of America Corp predecessor is calling on other shareholders to oust the embattled Kenneth Lewis as chairman of the largest U.S. bank.

Oil fell toward $46 a barrel on Friday, as bearish demand forecasts outweighed the potential for OPEC agreeing to further production cuts at its weekend meeting.

Oil fell $1 on Friday to below $46 as the stock market dropped and traders awaited OPEC's meeting this weekend.

New York State Supreme Court Justice Bernard Fried said at the end of a hearing on Friday that he would issue a ruling within the next week in a legal tussle between New York Attorney General Andrew Cuomo and Bank of America Corp , which bought Merrill on January 1. The judge will rule whether the names of 200 top bonus earners at Merrill Lynch & Co should be kept confidential.

NEW YORK - U.S. stocks fell on Friday as uncertainty about how the government will help clean up bank balance sheets tempered earlier optimism and hurt financial shares, while large-cap techs weighed.

Switzerland, Austria and Luxembourg offered to relax strict bank secrecy in some tax evasion cases on Friday in a response to a global crackdown on tax havens that is rattling the offshore banking industry.

U.S. stocks fell on Friday as uncertainty about how the government will help clean up bank balance sheets tempered earlier optimism and hurt financial shares, while large-cap techs weighed.

Top White House economic adviser Lawrence Summers on Friday called for the United States to lead a global effort to improve regulatory standards and warned against allowing regulators to compete against one another.

Switzerland, Austria and Luxembourg offered to relax strict bank secrecy in some tax evasion cases on Friday in a response to a global crackdown on tax havens that is rattling the offshore banking industry.

U.S. consumers' mood grew less grim in March, according to a survey released on Friday, while the latest figures showed the U.S. trade deficit narrowed in January to its smallest in more than six years.

Hong Kong shares jumped 4.4 percent in its fourth day of gains on Friday, leading the main index to its best weekly rise in a month and a half, with China stocks outperforming as investors continued to cheer hints of economic recovery in the mainland.

Pakistan's year-old civilian government sought a compromise to appease opposition leaders and a lawyers movement on Friday as police detained hundreds of activists in a bid to stifle a nationwide protest.

New York State Attorney General Andrew Cuomo, Rep. Barney Frank and other lawmakers are discussing a plan to link executive pay to the long-term performance of companies, the Wall Street Journal said.

PESHAWAR, Pakistan (Reuters) - Taliban militants recovered 24 bodies and were searching for more on Friday, hours after suspected U.S. drones destroyed a camp in Pakistan's northwestern region, militants and officials said.

Japan said on Friday it could shoot down any threatening object falling toward its territory, after North Korea said a planned rocket launch would send it across Japanese territory.

Fitch Ratings on Friday cut its credit rating and outlook on Roche Holding citing the company's increased debt after a deal was reached for it to buy the 44 percent it did not already own in Genentech.

Oil held above $47 a barrel on Friday ahead of OPEC's Sunday meeting in Vienna, after two volatile days of trade this week.

Japan joined the U.S. push for more government spending to fight the economic crisis on Friday but G20 unity looked seriously compromised after Paris accused Washington of disregarding the urgent need for tough market regulation.

U.S. consumers' mood improved unexpectedly in March as confidence in government economic policy improved, but sentiment remained anemic overall and close to a record low, a survey showed on Friday.

China's campaign to bring cleaner, low-emission vehicles to its roads may take a back seat as the government seeks first to stimulate growth and counter dwindling sales in the world's largest car market.