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UK probes banks over Pru's failed AIA bid: sources

Britain is probing investment banks over insurer Prudential Plc's failed $35.5 billion bid for rival AIG's Asian business AIA <1299.HK> last year, two people familiar with the matter said.

For $20 billion BP claims fund, legal challenges loom

On the one-year anniversary of the Gulf oil spill, BP Plc is facing challenges to its effort to contain another kind of disaster: mass litigation.

Stock index futures gain on earnings hopes

NEW YORK Stock index futures pointed a higher open for Wall Street on Thursday, adding to hefty gains from the previous session, boosted by growing optimism about strong corporate earnings.

OECD slashes Japan GDP forecast on quake

Japan's economy will slow significantly this year after last month's devastating earthquake and tsunami, with the government needing to cut spending from other programs to rebuild the country's battered northeast coast and to ensure faster growth next year, the OECD said on Thursday.

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Dollar hits 3-yr low; gold, Asian stocks march on

The U.S. dollar slid to a 3-year low against a basket of major currencies and Asian stocks jumped to a 3-year high on Thursday, as investors scrambled to get in front of upward momentum in higher-yielding assets, particularly in emerging markets.

Oracle versus Google patent trial likely by November

A patent trial between tech giants Oracle and Google should be held before November, a U.S. judge said at a hearing.

Prudential's failed AIA bid being investigated: report

A probe has been launched into the handling of insurer Prudential's failed $35.5 billion bid for AIA <1299.HK>, the Financial Times said on Thursday.

AmEx profit rises but costs soar; shares dip

American Express Co's first-quarter profit rose 33 percent from a year ago, beating expectations, but its expenses soared 19 percent, and shares in the credit card lender and processing network fell 1.8 percent.

Gold powers above $1,500 as inflation worries mount

Gold rallied above $1,500 an ounce for the first time on Wednesday, extending this week's record run as investors hedged growing inflation risks and bought into a broad commodities rally as the dollar slumped.

American Express profit rises 33 percent

American Express Co's first-quarter profit rose 33 percent from a year ago, as its wealthy customers spent more on their credit cards.

Rajaratnam guilt overwhelming: U.S. closes at trial

Raj Rajaratnam wanted to conquer the stock market at the expense of the law, a U.S. prosecutor said in closing arguments of the hedge fund manager's insider trading trial on Wednesday.

Jury shown two faces of Rajaratnam in closing words

Raj Rajaratnam wanted to conquer the stock market at the expense of the law, a U.S. prosecutor said in closing arguments of the hedge fund manager's insider trading trial on Wednesday.

Investor sues Citi board over shoddy mortgage ops

The board of Citigroup Inc was sued by an individual shareholder for the damage done to the bank by years of shoddy mortgage and foreclosure practices, which recently led to a costly fix agreed with regulators.

Rajaratnam trial closes on overwhelming evidence

Raj Rajaratnam wanted to conquer the stock market at the expense of the law, a prosecutor said in closing arguments of the hedge fund manager's insider trading trial on Wednesday.

Change in earnings tune lifts Dow near 3-year high

Big earnings surprises gave a positive turn to investor sentiment on Wednesday, propelling U.S. stocks to their best day in a month and lifting the Dow industrials to their highest in almost three years.

Wells Fargo profit up as credit quality improves

Wells Fargo & Co , the fourth-largest U.S. bank, posted higher quarterly profit, but its results were shaped by the same trends as most of its rivals, which is unusual for a bank known for outsmarting competitors.

Oil rallies above $124 on U.S. draw, dollar

Oil prices rallied 3 percent on Wednesday as U.S. crude oil inventories fell for the first time in seven weeks and the dollar weakened further, fueling investor appetite for riskier assets.

AIG sells off asbestos risk to Berkshire Hathaway

American International Group Inc will transfer its troublesome asbestos risk to Berkshire Hathaway Inc , relieving it of a book of business that has cost it billions of dollars, the bailed-out insurer said on Wednesday.

Wells Fargo posts falling revenue, shares drop

Wells Fargo & Co , the fourth-largest U.S. bank, posted a decline in revenue, and shares fell 4.9 percent as a bank known for outsmarting rivals turned in an average performance.

Existing home sales gain raises cautious hope

Home resales volumes bounced back in March, a hopeful sign for recovery in the housing market, but prices continued to decline.

Instant View: Existing home sales rise 3.7 percent in March

Sales of previously owned U.S. homes rose more than expected in March, a trade group said on Wednesday, raising cautious optimism a recovery may be in sight for the housing market.

Special Report: From Hannibal Lecter to Bernie Madoff

Bernard Madoff -- the architect of history's biggest Ponzi scheme -- and Gary Ridgway - the Green River killer -- would seem to have little in common aside from being branded as monsters in the tabloids.

Fiat sees happiness in Chrysler ownership

Fiat SpA is pushing ahead with plans to get 51 percent of U.S. No.3 carmaker Chrysler, a goal that boss Sergio Marchionne defined on Wednesday as happiness for the Italian car maker.

Rajaratnam broke law to conquer market: prosecutor

Raj Rajaratnam took advantage of friends and employees to make millions of dollars of illegal profit from insider trading, a prosecutor said as the trial of the Galleon Group hedge fund founder neared its conclusion.

Existing home sales rise 3.7 percent in March

Sales of previously owned U.S. homes rose more than expected in March, a trade group said on Wednesday, raising cautious optimism a recovery may be in sight for the housing market.

Oil climbs above $123 on bullish stocks data

Brent and U.S. crude oil futures rallied more than $2 on Wednesday, with Brent over $123 a barrel, helped by a weekly draw in U.S. crude inventories that confounded expectations for a stock build, and by a weaker dollar.

Wall St jumps on earnings

U.S. stocks jumped on Wednesday as optimism about the economic recovery rose on a wave of strong earnings and profit outlooks.

Existing home sales rise, prices fall

Sales of previously owned U.S. homes rose more than expected in March, a trade group said on Wednesday, suggesting the housing market's downward trend may be close to hitting a bottom.

Hedge fund managers more upbeat for 2011: survey

Hedge fund managers are finally breathing a sigh of relief.

EBay to buy local ad provider Where

EBay Inc said it would buy Where, a company that delivers local advertising to mobile phones, in its latest push to allow more retailers to do business with customers through its services.

Gold powers to record high above $1,500

Gold hit record highs above $1,500 an ounce on Wednesday as fears over the U.S. economic outlook boosted its appeal as a haven from risk, while Asian buyers sought protection from rising inflation.

Nasdaq's profit up 70 percent, amid buyout battle

Nasdaq OMX Group's quarterly profit rose 70 percent, as the exchange operator battling to buy out crosstown rival NYSE was helped by robust European and derivatives trading.

Stock futures climb on positive tech earnings

U.S. stock index futures climbed on Wednesday after solid earnings and outlooks from major technology companies renewed optimism over the economic recovery.