MARKETS / FINANCE

The Obama administration's proposed financial regulatory revamp could upend Wall Street brokerages by compelling brokers to put their clients' interests ahead of their own, The Wall Street Journal said on Friday

First Republic Bank - in the news this week after several private equity groups, including Blackstone and the Carlyle Group reportedly expressed interest in buying it from Bank of America Corp. - is a private banking and wealth management firm focused on high net worth individuals and their businesses.

Federal Reserve Bank of Kansas City President Thomas Hoenig said on Friday that the U.S. central bank was thinking seriously about its exit strategy, but inflation was not yet an imminent danger.

Switzerland and the United States have reached agreement on a double taxation treaty, the Swiss finance ministry said on Friday, a key step toward removal from a list of tax havens.

Japanese electronics maker Panasonic Corp has made major progress in talks with anti-trust regulators on its planned takeover of Sanyo Electric Co Ltd, and is considering launching a tender offer for the smaller rival as early as next month, Kyodo news agency said.

Texas billionaire Allen Stanford will appear in federal court in Virginia on Friday to answer allegations he orchestrated a massive fraud through his Antigua bank that bilked investors out of billions of dollars.

A distressingly slow U.S. housing recovery, with inflation-adjusted home values expected to decline over the next five years, makes it unlikely that housing wealth will drive consumer spending in the next decade, a Reuters/University of Michigan survey found.

E*Trade priced a stock and debt exchange offers on Friday as it seeks to raise about $1.4 billion to boost its equity capital.

Former Merrill Lynch executive Winthrop Smith on Friday denied approaching Bank of America Corp Chief Executive Kenneth Lewis with two other former Merrill executives to discuss buying back all or part of the bank.

Texas billionaire Allen Stanford will appear in federal court in Virginia on Friday to answer allegations he orchestrated a massive fraud through his Antigua bank that bilked investors out of millions of dollars.

R. Allen Stanford was arrested Thursday in Virginia by agents from the Federal Bureau of Investigations, his lawyer said, according to reports.

Kohlberg Kravis Roberts & Co is considering separating a plan that links buying its Amsterdam-listed fund with its own moves to list on the NYSE, a source familiar with the matter said, throwing further doubt on whether the private equity giant will list in New York.

The International Monetary Fund is likely to revise its 2010 growth forecast for the world economy up with signs the rate of decline in global output has moderated, a senior IMF official said on Friday.

Chief executives of some banks that received federal money, including Bank of America Corp, Morgan Stanley and Regions Financial Corp, used company jets for their personal use, the Wall Street Journal reported on its website.

Bank of America Corp Chief Executive Ken Lewis was approached by three former Merrill Lynch executives this year to discuss buying back some or all of their old company, but he politely rebuffed them, the Financial Times reported on its website. Dan Tully, former Merrill CEO, Launny Steffens, former head of Merrill's private client business, and Winthrop Smith Jr, son of one of Merr...

Texas billionaire Allen Stanford will appear in a federal court in Virginia on Friday over allegations of massive fraud involving his Antigua bank, U.S. officials said after he surrendered to the FBI.

U.S. private equity firm Kohlberg Kravis Roberts & Co is reconsidering its plan to list in New York, the Financial Times reported on Thursday.

Texas billionaire Allen Stanford has surrendered to authorities and will face criminal charges on Friday tied to an alleged massive fraud involving certificates of deposit issued by his Antigua bank, his lawyer said.

Now that Goldman Sachs Group Inc has settled its $10 billion debt with the U.S. taxpayer, investors are wondering about the Wall Street firm's other looming presence -- Warren Buffett.

Microsoft finally announced that its new antivirus software, codenamed ‘Morro’, will officially be named “Microsoft Security Essentials” and comes out on June 23 serving Windows end-user for free.

Motorola unveils Endeavor HX1 Bluetooth headset Global headset leader, Motorola on Thursday unveiled its first combine crystal talk Bluetooth headset Endeavor HX1, bundles with true bone conduction technology, and is set to hit Asia next month.

Texas billionaire Allen Stanford was prepared to surrender to U.S. authorities in Virginia on Thursday night after a warrant was issued for his arrest, Stanford's lawyer said.

IBM on Thursday said it has unleashed its free of charge Lotus Symphony, an open source alternative of Microsoft Office for viewing documents, spreadsheets, and presentation, which could give companies millions of dollars in savings.

Senior U.S. lawmakers launched an assault on Thursday on the centerpiece of the Obama administration's financial reform plan -- giving the Federal Reserve new powers to police broad risks in the economy.

American International Group Inc had questioned for years a retirement bonus plan for top managers because it was funded by a private company at no cost to AIG and that may have violated good governance standards, AIG's former CEO Maurice Hank Greenberg testified on Thursday.

Red Hat on Thursday said it has begun its beta testing on its new Qumranet's KVM (Kernel Virtual Machine) based hypervisor enterprise virtualization products, set to launch later this year.

More than 800,000 New York state residents were unemployed in May, the highest level in 33 years, and another sign the state is still mired in recession, the state labor department said on Thursday.

Apple’s could sell more than 500,000 new iPhones in its debut this weekend, driving Apple’s profits for the current quarter according to analysts.

NYSE Euronext and the Depositary Trust & Clearing Corp. said they will launch a joint venture to create a new clearing house for U.S. fixed income derivatives.