Dubai's ruler said the emirate would go forward with all development projects within a year in an interview with CNN broadcast on Friday, after billions of dollars worth of projects were canceled in the wake of the global financial downturn.
Most principles embodied in a new set of financial regulatory rules proposed by the United States and Europe also fit China, and embracing them early would help it strengthen financial stability, the country's deputy central bank governor said on Saturday.
Stock investors will anxiously await the crucial June jobs data next week for clues on how the U.S. economy may weather recent storms that drove Wall Street's major indexes down for the year.
The Obama administration on Friday asked a U.S. appeals court to stay a ruling that lifted a temporary ban on deepwater oil drilling, its latest attempt to clamp down in the wake of the Gulf of Mexico spill.
Efforts by United Airlines, a unit of UAL Corp , and Continental Airlines to reach a joint contract with pilots before concluding their merger have hit a snag, pilots said on Friday.
Lawmakers hammered out a historic overhaul of financial regulations on Friday, handing President Barack Obama a major domestic policy victory on the eve of a global summit of world leaders.
The Nasdaq and S&P 500 rose modestly on Friday on relief that the financial regulation bill wouldn't crimp Wall Street profits as badly as feared and as tech company Oracle's strong results revived hopes about business spending.
A security expert has identified flaws in the design of some automated teller machines that make them vulnerable to hackers, who could make the ubiquitous cash dispensers spit out their cash holdings.
The Nasdaq and S&P 500 rose modestly on Friday on relief that the financial regulation bill wouldn't crimp Wall Street profits as badly as feared and as tech company Oracle's strong results revived hopes about business spending.
Economic growth was slower than previously reported in the first quarter on lower consumer spending on services, raising concerns the recovery would be too sluggish to bring down unemployment.
AOL Inc CEO Tim Armstrong wants to remake the 25-year-old company into an online media juggernaut by focusing on content creation and advertising revenue, shedding non-core assets.
Stocks rose on Friday as a rally in bank shares and a focus on positive results from Oracle buoyed a market that struggled for direction after mixed economic data.
Pakistani authorities on Friday put seven major websites, including Google and YouTube, under watch for containing material deemed offensive to Muslims, officials said.
Salesforce.com Inc is suing Microsoft Corp for alleged patent violations, the latest development in a legal battle that began last month when Microsoft accused Salesforce of stealing its intellectual property.
Economic growth was slower than previously reported in the first quarter as estimates of business and consumer spending were cut.
A Democratic plan to provide additional aid to jobless workers, businesses and cash-strapped states and raise taxes on investment fund managers failed in the Senate on Thursday.
Consumer sentiment rose in June to its highest since January 2008 while reports of job losses were down sharply from a year ago, a survey showed on Friday.
Gold rose nearly 1 percent on Friday as investors sought refuge from financial market uncertainty and currency depreciation as they awaited the outcome of a G20 meeting.
The dollar climbed against the euro and fell against the yen on Friday as investors sought safety on concerns about euro zone fiscal strains and data showing soft U.S. economic growth.
KB Home , the fifth-largest U.S. homebuilder, reported a wider-than-expected quarterly loss on Friday as pressure on home prices offset the company's first rise in home deliveries in three and a half years.
Global regulators will dilute a reform that forces banks to hold more reserves to survive shocks without massive taxpayer help again, sources familiar with the negotiations said on Friday.
U.S. lawmakers hammered out a historic overhaul of financial regulations as dawn broke over the nation's capital on Friday, handing President Barack Obama a major domestic policy victory on the eve of a global summit devoted to financial reform.
Corrects to say banks could invest up to 3 percent of their Tier 1 capital, not their tangible common equity, in hedge funds and private equity funds
There is no basis for major appreciation of the yuan, given China's shrinking trade surplus, although the country's latest yuan policy will help to restructure its economy in the long run, a senior central banker said on Friday.
Economic growth was slower than previously estimated in the first quarter as estimates of business and consumer spending were cut, according to government data on Friday.
Stocks were little changed on Friday after mixed economic data, while financial shares gained as uncertainty ebbed after an agreement to overhaul financial regulations.
Oil rose on Friday due to concerns that a storm in the Caribbean may move toward the Gulf of Mexico, where oil facilities are clustered and BP continues to fight an oil spill.
Economic growth was slower than previously estimated in the first quarter as estimates of business and consumer spending were cut, according to government data on Friday.
Global regulators will dilute a reform that forces banks to hold more reserves to survive shocks without massive taxpayer help again, sources familiar with the negotiations said on Friday.
U.S. Senator Blanche Lincoln credited common sense for helping forge a compromise on her proposal to force banks to spin off their swap trading operations, allowing them to retain the bulk of their books but bar them trading commodities, equity and credit default swaps.
