The U.S. government's budget deficit in the fiscal year that ended on September 30 was $1.3 trillion, equal to 8.6 percent of gross domestic product, the nonpartisan Congressional Budget Office said on Friday.
Bank of America Corp will pay $11 million to ousted executives Joe Price and Sallie Krawcheck, a large payout at a time when banks face protests over pay but smaller than the eight-figure packages some executives received before the financial crisis.
Regulators are considering holding Wall Street chief executives legally liable if they allow certain types of proprietary trading on their watch.
The U.S. futures regulator may break with other agencies on a much-anticipated plan to ban most proprietary trading by banks, and could opt to put forth a slightly different version of the Volcker rule.
U.S. consumer credit posted its largest decline in more than a year in August, according to a Federal Reserve report on Friday that suggested consumers were reluctant to hold more debt amid a shaky economic recovery.
Germany and France were split ahead of crucial talks on Sunday over how to strengthen shaky European banks and fight financial market contagion to prepare for a possible Greek default.
Employers hired more workers than expected in September and job gains for the prior two months were revised higher, easing recession fears.
Wal-Mart Stores Inc's international business is growing. Its Sam's Club warehouse unit shines. Its expanding online operation is being revamped. Still, investors largely care about just one thing: can the retail giant finally fix its U.S. stores?
After nearly falling into bear-market territory, U.S. stocks on Friday finished the week higher, building gains on encouraging jobs data and hopes that Europe is dealing with its debt crisis.
Union leaders said they were pessimistic on Friday after failing to reach an accord with officials from Freeport-McMoRan to end an indefinite strike at the Cerro Verde mine.
Gold fell more than 1 percent on Friday as investors quickly sold to raise cash to cover margin calls in the lower equity markets after Fitch downgraded the credit ratings of Spain and Italy.
The U.S. Mint resumed sales Friday of three silver coins Thursday, after unusual volatility in the silver market last month prompted the government agency to pull them for repricing.
Fitch Ratings on Friday cut Italy's sovereign credit rating by one notch and Spain's by two, citing a worsening of the euro zone debt crisis and a risk of fiscal slippage in both countries.
Given progress to-date, U.S. troop presence in Afghanistan, which in October began its 11th year, will probably have to increase substantially to win the Afghanistan War. Should the U.S. Congress re-start the military draft to provide the increase in troops needed?
Belgium's federal government and its regions clashed on Friday over the fate of the Belgian banking activities of stricken Dexia SA , delaying a joint Franco-Belgian rescue of the group.
Stocks declined on Friday after downgrades of Spain's and Italy's credit ratings underscored worries about the European debt crisis, overshadowing better-than-expected U.S. jobs data.
Gold prices busted a three-day winning streak Friday as fresh evidence of Eurozone instability piqued investors' desire for something safe and liquid.
Facing the prospect of a deeper crisis in Europe, the International Monetary Fund is weighing whether it could expand its rescue lending capacity through debt issuance or bilateral borrowing.
The risk of U.S. inflation is minor compared with an ongoing morass in the jobs market, two top Federal Reserve officials said after the government reported a steady 9.1 percent jobless rate.
Job creation accelerated more than expected in September, easing the risk of a new recession, although the economy still created too few positions to heal the labor market much.
Australian gold miner Resolute Mining said it made a 700,000-ounce gold discovery at its Tabacoroni joint venture with Etruscan Resources that would boost output from its Syama mine in Mali by about 100,000 ounces a year.
Gold and silver mining companies were falling Thursday - despite strength in the prices of both gold and silver and the broader stock market posting gains.
The S&P 500 and Nasdaq fell on Friday as traders pocketed gains after encouraging U.S. economic data and on bets Europe will shore up its banking system.
A former securities trader was sentenced to three years in prison on Friday for insider trading in another victory for prosecutors in their probe of suspicious trading on Wall Street.
The most urgent threat to the U.S. economy is joblessness, not inflation, but there is little more the Federal Reserve can do to help, a top Fed official, known for his hawkish views on inflation, said on Friday.
Debt rating agencies had the knives out for some of Europe's weakened banks on Friday, highlighting the pressure for decisive government action in support for the industry.
Russian metals giant Norilsk Nickel has mandated Citibank and Societe General to arrange a five-year pre-export loan up to $1.5 billion, the company said on Friday.
Republicans need to stop looking for savior candidates and start focusing on the candidates they have, or they will end up like the 2004 Democrats: unable to present a compelling alternative to an unpopular incumbent.
Jobs growth was stronger than expected in September thanks to private-sector growth, easing fears the economy is slipping back into recession, but the unemployment rate was unchanged.
Employers hired more workers than expected in September and job gains for the prior months were revised higher, according to a report on Friday that eased fears the economy was heading into recession.
