MARKETS / FINANCE

Japan's return to recession and a bigger-than-expected slump in first-quarter economic growth are negative for its credit rating, Moody's Investors Service said, warning that a delay in recovery could warrant additional fiscal and monetary stimulus.

Renewed worries in the euro-zone over the weekend pulled the euro down to a record low against the Swiss franc, weakened risky assets such as Asian stocks and boosted safe haven investments like U.S. government debt and gold on Monday.

Upscale British shoemaker and retailer Jimmy Choo was bought by luxury goods group Labelux from TowerBrook Capital Partners LP, the companies said on Sunday.

It was fun while it lasted.After several strong quarters, the global economic recovery appears to be sputtering. In particular, the industrial sector, a key driver of the bounce-back from a historic worldwide recession, looks to be fraying.

Jimmy Choo was bought by luxury goods group Labelux from TowerBrook Capital Partners LP, and two of the British upscale shoemaker and retailer's top executives will stay on.

Retailer Wal-Mart Stores is setting up a team in London to drive expansion into Europe, The Independent on Sunday newspaper reported.

Greece must avoid debt restructuring and push on with budget cuts and privatisations to overcome its debt crisis, the country's Prime Minister George Papandreou and senior ECB officials said on Saturday.

Greece must avoid debt restructuring and push on with budget cuts and privatizations to overcome its debt crisis, the country's Prime Minister George Papandreou and senior ECB officials said on Saturday.

A powerful Republican lawmaker is investigating possible insider trading at SAC Capital Advisors LLP, highlighting increased public scrutiny of potential wrongdoing by hedge funds.

Prime Minister George Papandreou ruled out a restructuring of Greece's debt but declined to comment whether a softer reprofiling was on the cards, the state-run Athens news Agency reported on Saturday.

Standard & Poor's cut its rating outlook for Italy to negative from stable, citing weak growth prospects and increased risks it would fail to slash its debt mountain.

Senate Judiciary Committee head Charles Grassley is investigating possible insider trading at SAC Capital Advisors LLP, highlighting increased public scrutiny of potential wrongdoing by hedge funds.

SAC Capital Advisors LLP is under investigation by a powerful U.S. Republican Senator for 20 possible instances of insider trading, the Wall Street Journal reported on Saturday, citing unnamed sources familiar with the situation.

German Chancellor Angela Merkel on Saturday affirmed her high opinion of French Finance Minister Christine Lagarde, tipped as a candidate to be the next head of the International Monetary Fund.

Austrian Finance Minister Maria Fekter backed French counterpart Christine Lagarde for the top job at the International Monetary Fund and threw her weight behind Austrian banks in the debate over new capital rules.

Austrian Finance Minister Maria Fekter backed French counterpart Christine Lagarde for the top job at the International Monetary Fund and threw her weight behind Austrian banks in the debate over new capital rules.

Signs of a Wall Street sell-off are all over the place, but U.S. stocks might well survive another week relatively unscathed if investors keep betting on sectors less vulnerable to an economic downturn.

U.S. authorities closed two small banks in west-central Georgia and one in Washington state on Friday, bringing the number of foreclosures in 2011 to 43.

The International Monetary Fund on Friday approved a 26 billion euro ($36.8 billion) loan for Portugal to help the country recover from a debilitating sovereign debt crisis, saying it would immediately disburse 6.1 billion euros to ease investor concerns over the euro zone member's debts.

Fitch cut Greece's credit rating by three notches on Friday, pushing the country deeper into junk territory, and warned that any kind of debt restructuring would amount to default.

The International Monetary Fund on Friday approved a 26 billion euro ($37 billion) loan for Portugal and said it would immediately disburse 6.1 billion euros of the money to the euro zone member country to ease investor concerns over its debts.

LivingSocial and Foursquare are both fighting for local ad dollars from mom and pop stores, neighborhood restaurants, and even big box retailers as online social media companies set their sights on a largely untapped pool of revenue.

BP struck a key victory in its battle to share the cost of the Gulf of Mexico oil spill when partner Mitsui & Co agreed on Friday to pay $1.1 billion toward the clean-up bill and possibly billions more in fines.

Shares of clothes retailers Gap Inc and Aeropostale Inc fell on Friday, a day after the companies said higher input costs and discounts would hurt profitability.

Some investors are betting Research in Motion's stock is in for more pain, even after a rough three years.

U.S. stocks fell on Friday on euro-zone debt worries that could spill over into next week's trading with a bearish note, while retailers lost ground after a weak profit outlook from Gap.

Washington Mutual Inc reached an agreement on Friday that would give shareholders control of the company after it exits bankruptcy, according to a report by Bloomberg News.

Virtual wallet technology that lets people pay for a coffee, newspaper or sandwich by swiping a cell phone at a checkout is finally set to start rolling out, executives told the Reuters Technology Summit this week in Paris.

To balance their budgets, states are cutting funds they send to local governments, worrying many in the $2.9 trillion municipal bond market, from cities to rating agencies.