MARKETS / FINANCE

Italian fashion house Prada, which is seeking to raise up to $2.6 billion through a Hong Kong IPO, has generated five times demand for its offer, a source familiar with the matter told Reuters on Sunday.

Dubai's real estate watchdog canceled as many as 217 registered property projects over the past two years after the burst of the property and asset bubble, according to information in a prospectus for Dubai's planned bond issue.

China's inflation rate may accelerate to more than 6 percent year-on-year in June, which could bring the full-year consumer price index for 2011 to as high as 5 percent, a government researcher said in remarks reported on Sunday.

Bank of Israel Governor and former IMF deputy chief Stanley Fischer said on Saturday he would run for the top job at the International Monetary Fund, presenting a new challenge to front-runner Christine Lagarde.

The International Monetary Fund has been hit by a cyber attack on its computer systems, an IMF spokesman said on Saturday, highlighting a growing rash of network break-ins at high-profile institutions.

The International Monetary Fund is investigating a cyberattack that it recently discovered and has put in place additional security measures, an IMF spokesman said on Saturday.

Bank of Israel Governor Stanley Fischer said Saturday he would run for the top job at the International Monetary Fund, presenting a potential serious challenge to front-runner Christine Lagarde.

Saudi Arabia will seek a greater role in the International Monetary Fund , its finance minister said on Saturday after meeting with France's Christine Lagarde on her campaign to head the Washington-based lender.

Bank of Israel Governor Stanley Fischer said on Saturday he had decided to stand as head of the International Monetary Fund, presenting a potential serious challenge to front-runner Christine Lagarde.

Bank of Israel Governor Stanley Fischer said on Saturday his candidacy for the head of the IMF has been submitted.

French Finance Minister and IMF candidate Christine Lagarde said on Saturday tackling sovereign debt troubles would be a priority of the International Monetary Fund if she led the Washington-based rescue lender.

Germany's banks association Saturday backed government proposals to get private creditors involved in the cost of a second bailout for Athens, although it was not clear if they favored a controversial bond swap.

A steak lunch at Smith & Wollensky in Manhattan starts at $36.50. The same lunch, eaten in the company of legendary investor Warren Buffett, costs approximately $2.63 million.

Helping indebted European countries get back on their feet is vital to Germany's economic health, Chancellor Angela Merkel said on Saturday in a message aimed at the general public.

Goldman Sachs Group Inc and other banks fighting for control of Lehman Brothers Holdings Inc's bankruptcy have joined efforts to avoid sharing information about claims against the failed investment bank.

Don't be surprised if Wall Street racks up a seventh consecutive week of losses as the likelihood of more poor economic data and other disconcerting signals outweigh any thoughts that stocks are cheap.

The Federal Reserve will subject more banks to annual stress tests to determine whether they have enough capital and can raise their dividends.

Two former senior Taylor, Bean & Whitaker Mortgage Corp executives were sentenced on Friday to several years in prison for their roles in a nearly $3 billion fraud that took down the big lender and a major bank.

The U.S. budget deficit fell by more than half in May from year-earlier levels to $57.64 billion as tax revenues continued to rise, the Treasury Department reported on Friday.

European paymaster Germany stuck to its guns on Friday in demanding that private investors contribute to a second bailout for Greece despite a European Central Bank warning against triggering market turmoil.

The Obama administration might nominate Federal Deposit Insurance Corp member Thomas Curry to oversee the largest banks as the next comptroller of the currency, according to a person informed about the deliberations.

The Dow and S&P 500 closed out their sixth week of losses on Friday as further signs of a global economic slowdown set the stage for more losses ahead.

The flood of Federal Reserve money that has supported Wall Street and the rest of the U.S. economy for 2-1/2 years will shrink to a trickle with the conclusion of the Fed's bond purchases announced on Friday.

The Dow and S&P 500 closed out their sixth week of losses on Friday as further signs of a global economic slowdown set the stage for more losses to come.

The heads of TMX Group Inc and the London Stock Exchange Group Plc said on Friday it is full steam ahead for LSE's friendly takeover of the Canadian market operator even though a hostile bid for TMX could come any day now.

Import prices rose for an eighth straight month in May despite a drop in fuel costs, with the year-on-year increase reaching its highest level in nearly three years, according to data on Friday.

The Dow and the S&P were on track to post their sixth consecutive weekly drop for the first time since mid-2008 on Friday as China's weaker trade data and disputes about a second bailout of Greece escalated concerns about the global economic slowdown.

Bankrupt Borders Group Inc reached agreements to avoid shuttering six of its stores that the bookseller planned to close under the terms of its bankruptcy loan.

The head of Canadian market operator TMX Group Inc said on Friday it is full steam ahead for his company's friendly takeover by London Stock Exchange Group Plc even though a hostile bid for TMX could come any day now.