IBT Staff Reporter

Mortgage giants Fannie Mae and Freddie Mac are being pushed to reduce borrowers' mortgage balances in order to shield U.S. banks from taking losses on distressed housing debt, the companies' regulator said in a Financial Times interview published on Sunday. If you do principal forgiveness, who is it benefiting? ... Doing principal forgiveness is what would prote...

Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because European Union and U.S. financial sanctions now make it almost impossible to process payments, industry sources said.

BATS Global Markets, the U.S. exchange operator that withdrew its public offering Friday after a computer glitch sent its newly-issued stock into a tailspin, should develop a credible IPO plan and go through with it in the second quarter, its founder and current director said.

BATS Global Markets, the U.S. exchange operator that withdrew its public offering Friday after a computer glitch sent its newly-issued stock into a tailspin, should develop a "credible IPO plan" and go through with it in the second quarter, its founder and current director said.

China Construction Bank , the world's No.2 lender valued at $193 billion, joined smaller rival AgBank in reporting earnings lower than the market had expected as China's slowing growth squeezes its top lenders.

China Construction Bank , the world's No.2 lender valued at $193 billion, joined smaller rival AgBank in reporting earnings lower than the market had expected as China's slowing growth squeezes its top lenders.

Flash mobs have been blamed as a factor in looting during urban riots. But now a group of online activists is harnessing social media like Twitter and Facebook to get consumers to spend at locally owned stores in cities around the world in so-called Cash Mobs.

Venezuela will pay Williams Cos Inc and Exterran $420 million for the 2009 nationalization of assets including a major gas injection project, the South American country's oil minister said on Friday.

Greg Smith, the former Goldman Sachs executive who resigned this month and condemned the investment bank in a scathing New York Times opinion column, is seeking a deal to write a book about his experience there, the newspaper reported.

The Obama administration on Saturday said it would again gauge interest from the oil and gas industry to explore federal waters off the Alaska coast, another bid to expand domestic energy production as gas prices soar and political pressure grows.

Don Thompson's journey to the top spot at McDonald's Corp started in front of a computer, not a deep fryer.

Don Thompson's journey to the top spot at McDonald's Corp started in front of a computer, not a deep fryer.

James Murdoch has severed all ties with News Corp's British newspaper business, which is at the centre of multiple investigations over phone and computer hacking and bribery, according to regulatory filings.

Jim Yong Kim, the U.S. nominee to lead the World Bank, will win broad international support despite an unprecedented challenge by candidates from emerging economies, U.S. Treasury Secretary Timothy Geithner said in an interview.

In a breakdown that resembled a mini version of the 2010 flash crash, a series of glitches hit the market debut of BATS Global Markets Inc on Friday, causing the company to take the extremely rare step of withdrawing its initial public offering of shares.

Don Thompson's journey to the top spot at McDonald's Corp started in front of a computer, not a deep fryer.

Don Thompson's journey to the top spot at McDonald's Corp started in front of a computer, not a deep fryer.

Greece is well on track in its efforts to improve how it monitors its finances, the head of the European Commission's special task force said, while adding that its banking system remained in difficulty.

The United States said on Friday it would appeal a World Trade Organization ruling against a law requiring country-of-origin labels on all meat sold in grocery stores, a move that disappointed Canada and Mexico, both of which want the law changed.

A judge in Campos, Brazil, could shift the criminal charges filed against Chevron and drill-rig operator Transocean to Rio de Janeiro, a decision that would remove a crusading prosecutor from the case.

Congressional investigators released details of emails from just before MF Global's bankruptcy that renew questions about whether anyone at the failed brokerage authorized the use of customer funds to cover an overdraft in London.

The battered housing market looks to be on the mend as buyers make a tentative return and house prices stabilize.

Portfolio managers will be doing some last-minute shopping for winners from the big stock market rally as they take part next week in the quarter-end ritual of window dressing.

When Anton Marinovich turned 18, his grandmother gave him $1,000 with strict instructions to invest in the stock market. He chose Apple Inc.

Lockheed Martin Corp on Friday welcomed news that Norway planned to increase its order for F-35 Joint Strike Fighter jets by four planes, and was considering pulling forward the delivery of two initial training jets by one year to 2015.

Stocks rose in light volume on Friday, buoyed by rising energy and basic materials shares, as the S&P 500 kept showing resilience even as it posted its second negative week so far this year.

Former MF Global official Edith O'Brien said in an October 2011 email that CEO Jon Corzine gave direct instructions to transfer $200 million from a customer account to cover an overdraft in a JPMorgan account in London, according to a congressional memo released on Friday.

U.S. securities regulators accused Wells Fargo & Co on Friday of repeatedly ignoring its subpoenas for documents in connection with a probe into the bank's $60 billion sale of mortgage-backed securities.

PepsiCo Inc Chief Executive Indra Nooyi had total compensation worth $17.1 million last year, up 6 percent from 2010, even as the food and drink company failed to meet its key internal performance targets.