MARKETS / FINANCE

Greece has sealed a deal with the European Union and IMF that opens the door to a multi-billion euro financial bailout and will require big sacrifices from the Greek people, Prime Minister George Papandreou said on Sunday.

Greece has sealed a deal with the EU and IMF that opens the door to a multi-billion euro financial bailout but will require major sacrifices from the Greek people, Prime Minister George Papandreou said on Sunday.

Greece has sealed a deal with the European Union and the IMF that opens the door to a multi-billion euro financial bailout of the heavily indebted euro zone member, a senior government official said on Sunday.

Greece appeared set to announce a deal with the European Union and the IMF for a multi-billion euro financial bailout on Sunday, a day after thousands protested in Athens against planned state cutbacks.

Greece hopes to secure a deal with the European Union and the IMF for a multi-billion euro financial bailout to be announced on Sunday, a day after thousands protested in Athens against planned state cutbacks.

A top U.S. banking regulator is concerned with a provision in a bill by Senate Democrats that would require banks to spin off their swaps desks, according to a letter obtained by Reuters on Saturday.

Warren Buffett on Saturday launched a strong defense of Berkshire Hathaway Inc's $5 billion investment in Goldman Sachs Group Inc and the investment bank's embattled chief executive, Lloyd Blankfein.

Greece expects to conclude talks with European Union and IMF officials on a multi-billion euro financial bailout on Saturday, a government official said, while thousands protested in Athens against planned state cutbacks.

Chancellor Angela Merkel said she would welcome a contribution from Germany's private sector to support a Greek rescue package and acknowledged the public outrage over the damage caused by market speculation.

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Stubbornly high crude oil inventories continued to stymie bulls through the middle of the week, but the market seized on positive economic data to push prices higher toward the end of the week. The oil spill from a collapsed rig off the Gulf coast may also have played a role in firming prices. Analysts said that the spill could have a short-term impact on supply if it interfered with oil deliveries to Gulf coast refineries, and a longer-term impact if it led to new restrictions on offshore drill...

A more flexible yuan will help balance the Chinese economy, but Beijing alone must decide on when and how to adjust its currency policy, the head of the Asian Development Bank (ADB) said on Saturday.

In an attempt to boost its international rice sales, Cambodia has decided to axe rice export licenses to exporters. Country's Prime Minister Hun Sen issued a new order in this regard to replace an old order of 2008. The document ordered would-be exporters to apply to a Ministry of Commerce-run company called Green Trade for a permit.

The National Spot Exchange Limited (NSEL), India has recorded a turnover of Rs 2084.29 lakhs with total of 478 trades at the end of the first trading session. The turnover in bullion was Rs. 316.30 lakhs and in agri commodities Rs. 1767.99 lakhs.

U.S. regulators seized three Puerto Rican banks on Friday and sold their deposits to other banks, costing the Federal Deposit Insurance Corp insurance fund $5.3 billion -- one of the largest hits in the banking crisis.

The U.S. Federal Reserve took steps on Friday toward creating tools that could help it eventually withdraw the billions of dollars it pumped into the economy to support economic recovery.

Stocks tumbled on Friday to close out the worst week since January as news of a criminal probe into Goldman Sachs unnerved investors already anxious about the prospects for heavy regulation from Washington.

Bank of America Corp Chief Executive Brian Moynihan told Fox Business News on Friday that he supported a $50 billion orderly liquidation fund for large U.S. financial firms, but thought it should be built up over time.

Shares of Goldman Sachs Group Inc slumped 9.4 percent on Friday to a more than nine-month low, a day after news of a criminal investigation by U.S. federal prosecutors accelerated the company's crisis.

Standard and Poor's starring role in the latest chapter of the European debt crisis has rekindled criticism on Wall Street about the role of rating agencies in credit markets.

U.S. stocks tumbled on Friday to close out the worst week since January as news of a criminal probe into Goldman Sachs unnerved investors already anxious about the prospects for heavy regulation from Washington.

The U.S. economy expanded at a 3.2 percent annual rate in the first quarter as consumers increased spending at the fastest pace in three years, the strongest sign yet a sustainable recovery may be taking hold.

The U.S. Federal Reserve on Friday authorized a new mechanism that it said can eventually be used to withdraw excess cash from the banking system.

Chevron Corp's quarterly profit more than doubled, beating forecasts, as a bounce in oil prices offset lower refinery earnings at the second-largest U.S. oil company.

Opera Software, the world's largest mobile browser firm, has bought Australian web-based email provider FastMail.FM, aiming to expand its own messaging offering to wireless devices.

European banks will contribute to a multi-billion euro Greek bailout, Germany said on Friday, as talks to secure European Union and IMF aid to Athens in return for draconian budget cuts edged toward a deal.

The U.S. economy expanded at a 3.2 percent annual rate in the first quarter as consumers increased spending at the fastest pace in three years, the strongest sign yet a sustainable recovery may be taking hold.

Motorola Inc reported a surprising quarterly profit on better-than-expected demand for its higher-margin smartphones, so far vindicating its strategy of relying on Google Inc's Android software system.

(Corrects paragraph 14 to say Motorola was expected to rank seventh in the global mobile phone market, not fourth)