MARKETS / FINANCE

The president of Goldman Sachs Group Inc said on Thursday that there is no indication that the investment bank is close to settling U.S. fraud charges with the Securities and Exchange Commission.

U.S. lawmakers tasked with hammering out a final version of financial-reform legislation will use as a starting point a bill that combines mortgage reforms passed by the House and the Senate, according to a summary obtained by Reuters.

Banks were under intense political pressure as a U.S. congressional panel negotiating a final Wall Street reform bill convened its first meeting on Thursday.

Securities regulators approved new so-called circuit breakers on Thursday in an attempt to prevent a repeat of the still-unexplained May 6 stock market drop.

The number of U.S. workers filing claims for jobless aid fell modestly last week as the labor market recovery struggled for momentum, while a slip in exports in April supported views of moderate economic growth.

China's exports jumped in May, reassuring investors about the economy's strength but putting pressure on U.S. President Barack Obama to placate critics who say Beijing is keeping the yuan unfairly undervalued.

Household wealth rose by $1.1 trillion in the first quarter, reversing a sliver of the losses incurred during the deep recession, Federal Reserve data showed on Thursday.

A House of Representatives panel on Thursday released the text of a bill that will provide the basis for negotiations on regulatory reform between U.S. House and Senate lawmakers.

The Dow and S&P climbed more than 2 percent on Thursday, with the Nasdaq not far behind as China's confirmation of strong export data relieved recovery concerns and helped lift the euro.

Citigroup has caught the eye of hedge fund manager William Ackman because he expects the financial services company to soon be able to return billions to its shareholders and to enjoy big tax benefits.

The euro rose on Thursday for a third straight day as strong demand for Spanish bonds eased concern about the country's ability to finance its debt and a spike in Chinese exports boosted confidence on global growth.

As hurricane season begins in the Caribbean and Gulf of Mexico, forecasters are predicting higher-than-usual activity that could disrupt oil and gas production in the Gulf and hinder efforts to clean up the Deepwater Horizon oil spill.

A European Central Bank decision to extend fixed rate three-month liquidity operations until September could help reduce money market tensions and prolong lower EONIA and Euribor rates, analysts said on Thursday.

U.S. Treasury Secretary Timothy Geithner said on Thursday he didn't know whether American efforts to get China to change its exchange rate policies would produce results soon.

U.S. Treasury Secretary Timothy Geithner said on Thursday that reform of China's exchange rate is critically important to the U.S. and global economies and a more flexible yuan was in China's interest.

Chile's economy is seen surging in the second quarter as the world's top copper producer recovers from a a massive February quake, a central bank poll of financial analysts showed on Thursday

Stocks rose sharply on Thursday, with the Dow and S&P up more than 2 percent, as confirmation of strong China export data eased recovery concerns and helped spur a climb in the euro.

Italian industrial output rose a better than expected 1.0 percent in April, data showed on Thursday, pointing to a rise in manufacturing production throughout the eurozone despite debt market tensions.

The euro rose on Thursday as strong demand at a Spanish debt auction eased concerns about how the country will fund its large debt, but caution before a European Central Bank policy decision capped gains.

The number of workers filing new applications for unemployment insurance fell less than expected last week, government data showed on Thursday, pointing to a gradual labor market recovery.

The number of workers filing new applications for unemployment insurance fell less than expected last week, while the trade deficit widened slightly in April, pointing to a moderate economic recovery.

Here is a timeline of key events in the euro zone debt crisis since last November, when a new Greek government shocked markets by doubling estimates for the country's 2009 budget deficit.

The Bank of England made no change to interest rates or its bond purchase program on Thursday, as it waits for Britain's new government to reveal the extent of its fiscal austerity measures in a June 22 budget.

The number of workers filing new applications for unemployment insurance fell less than expected last week, while the trade deficit widened slightly in April, pointing to a moderate economic recovery.

The Bank of England kept interest rates at a record low of 0.5 percent on Thursday, as widely expected, ahead of the new government's June 22 budget which will detail the extent of fiscal tightening Britain faces.

Bank of Canada Governor Mark Carney urged the G20 on Thursday to push ahead quickly with radical financial reforms but signaled flexibility on when new global banking rules would be phased in.

Introduction It is a pleasure to be here at this important meeting. It comes at a critical time, as we all work to repair a global financial system that has failed our citizens. Given this failure, the G-20's agenda to reshape the global financial system is comprehensive and radical. The coming weeks and months will be pivotal to its success. The time for debate and discussion is drawing to a close. Policymakers now need to decide and to implement. Recent tensions in Europe have underscored this...

The U.S. Securities and Exchange Commission, which charged Goldman Sachs Group Inc with fraud in April, is investigating another mortgage-linked deal once pitched by the Wall Street firm, the Financial Times reported, citing people close to the matter.

Stock index futures rose on Thursday, boosted by confirmation of solid China export data and a climb in the euro as investors awaited a report on the U.S. labor market.