IBT Staff Reporter

A meeting of BRICS major emerging countries discussed the selection process of the next head of the World Bank and emphasized it should be open to all countries, rejecting the tradition that the job automatically goes to an American, a senior BRIC official said on Saturday.

Anyone looking for more evidence of a strengthening U.S. economic recovery needs only to consider conglomerate Berkshire Hathaway, where businesses ranging from railroads and electric utilities to furniture and candy stores are racking up record profits.

A planned U.S. ban on banks trading for their own profit could hamper monetary policy and the ability of financial firms to manage risk unless foreign government debt is exempted, a top Citigroup executive said on Saturday.

Warren Buffett told investors on Saturday the Berkshire Hathaway board has identified his successor, easing some shareholder concern about the future of the company once the famed 81-year-old investor steps down as chief executive.

Greece formally launched a bond swap offer to private holders of its bonds on Friday, setting in motion the largest-ever sovereign debt restructuring in the hope of getting its messy finances back on track.

World economic powers told Europe on Friday it would have to do more to fight its financial crisis before they agree to provide back-up in the form of a bigger IMF war-chest.

A rally on Wall Street will be put to the test next week, with the S&P 500 at its highest level since before the collapse of Lehman Brothers in 2008.

Berkshire Hathaway has identified its next chief executive, who will succeed Warren Buffett when the 81-year-old investor is no longer running the company, Buffett said in his annual letter to shareholders on Saturday.

A solid U.S. candidate to head the World Bank would be good for the United States and the bank because the world's largest economy should be represented in top international bodies, outgoing President Robert Zoellick said on Saturday, while emphasizing he has no role in the selection process.

The Japanese government will seek the resignation of Tokyo Electric's <9501.T> board of directors at a shareholder meeting in June in return for injecting $13 billion of public funds, the Mainichi newspaper said on Saturday.

Boeing Co said it swapped the heads of its 787 Dreamliner and 777 programs, tapping the skills of the long-time 777 leader to ensure the delayed Dreamliner program hits a production rate target that many experts believe is unrealistic.

Proview Electronics, the firm trying to stop Apple Inc from using the iPad name in China, has a plausible claim over the unusual methods Apple used to conceal its identity when attempting to acquire Proview's trademarks, according to several legal experts.

Proview Electronics, the firm trying to stop Apple Inc from using the iPad name in China, has a plausible claim over the unusual methods Apple used to conceal its identity when attempting to acquire Proview's trademarks, according to several legal experts.

Bank of America Corp appears to be going it alone in not selling mortgage loans to Fannie Mae, a move that, while sending an angry signal to the nation's largest mortgage-buyer, could force the bank to charge less attractive mortgage rates.

Bank of America Corp appears to be going it alone in not selling mortgage loans to Fannie Mae, a move that, while sending an angry signal to the nation's largest mortgage-buyer, could force the bank to charge less attractive mortgage rates.

The European Central Bank's decision to exempt itself from taking losses on its Greek bonds may push up borrowing costs of other debt-strained euro zone countries, Standard & Poor's said on Friday.

The European Central Bank's decision to exempt itself from taking losses on its Greek bonds gives its senior status in the bond market and may push up borrowing costs of other debt-strained euro zone countries, Standard & Poor's said on Friday.

Following are comments from policy-makers at the Group of 20 finance ministers and central bankers meeting in Mexico City.

Johnson & Johnson's new CEO will need to take bold steps to help the giant healthcare company repair its reputation following costly product recalls and oversee its biggest acquisition ever.

Goldman Sachs Group has suspended coverage of 18 discount brokers, exchanges and small investment banks because the analyst who follows them has left the firm.

Goldman Sachs Group has suspended coverage of 18 discount brokers, exchanges and small investment banks because the analyst who follows them has left the firm.

Cybersecurity experts have uncovered a flaw in a component of the operating system of Google Inc's widely used Android smartphone that they say hackers can exploit to gain control of the devices.

Activist hedge fund Starboard Value LP nominated a slate of five candidates to AOL Inc's board, saying discussions with the company in the past two months were unsatisfying.

Johnson & Johnson's new CEO will need to take bold steps to help the giant healthcare company repair its reputation following costly product recalls and oversee its biggest acquisition ever.

U.S. regulators should scrap a proposal on the Volcker rule that curbs banks' speculative bets, and work on a fresh one that does not threaten the health of markets, a member of the U.S. Securities and Exchange Commission said on Friday.

Borrowing by U.S. companies to buy equipment jumped in January from a year ago, though it slid from December's rush to close loans before year-end, and credit quality improved to pre-recession levels, the Equipment Leasing and Finance Association said on Friday.

The S&P 500 rose on Friday to close at the highest level since before the collapse of Lehman Brothers in 2008, continuing a pattern of steady gains on signs of U.S. economic recovery.

The S&P 500 rose on Friday to close at the highest level since before the collapse of Lehman Brothers in 2008, continuing a pattern of steady gains on signs of U.S. economic recovery.

Federal appeals judges on Friday honed in on whether a U.S. Supreme Court ruling limiting securities fraud lawsuits barred a $2 billion case by hedge funds accusing German automaker Porsche SE of fraudulently cornering the market in Volkswagen AG shares in 2008.