IBT Staff Reporter

Italian police said on Friday they had seized about $6 trillion worth of fake U.S. Treasury bonds and other securities in Switzerland, and arrested eight Italians accused of international fraud and other financial crimes.

The trustee managing the assets of bankrupt MF Global Holdings Ltd said none of the roughly $26 million being used to fund the futures brokerage in Chapter 11 is part of a $1.6 billion shortfall in customer accounts.

When Jason Goldberg set out to raise a new round of funding for his flash sales site Fab.com, he dispensed with the usual PowerPoint presentations and instead gave potential investors a look at the crown jewels: the dashboard of real-time analytics that can instantly spot trends and enable the site to tweak its offerings on the fly.

Feb 18 - Former Olympus Corp president Tsuyoshi Kikukawa aided the firm in securing 70 billion yen, a part of which was allegedly used to conceal massive investment losses, the Nikkei business daily reported, citing unnamed sources.

U.S. stocks edged higher on Friday, but investors stayed cautious before a long holiday weekend when hopes are set for Greece's bailout plan to be approved.

An outspoken research analyst who made waves by refusing to cooperate in the U.S. government's broad insider-trading probe was charged with illegally supplying hedge funds with tips as part of his consulting service.

A British student, who hacked into Facebook's internal network risking disastrous consequences for the website, was jailed for eight months on Friday in what prosecutors described as the most serious case of its kind they had seen.

Hackers have tried to crash a vast network of Web cameras which Vladimir Putin has ordered to allay fears of vote-rigging in the March presidential election, a deputy minister said on Friday.

Hackers have tried to crash a vast network of Web cameras which Vladimir Putin has ordered to allay fears of vote-rigging in the March presidential election, a deputy minister said on Friday.

A research analyst who made waves by refusing to cooperate in the government's broad insider-trading probe was charged with illegally passing tips he gleaned from technology company insiders to hedge funds.

A committee of Lehman Brothers creditors is seeking to force U.S. Treasury Secretary Timothy Geithner to testify in connection with an $8.6 billion dispute between Lehman and JPMorgan Chase & Co, Lehman's banker before its collapse.

Dutch delivery firm TNT Express said on Friday its board of directors has rejected an unsolicited takeover offer from U.S-based peer UPS worth an estimated 4.9 billion euros, but it said discussions are continuing.

Washington Mutual Inc received long-sought court approval to exit bankruptcy and repay $7 billion to creditors, ending more than three years of court battles between hedge funds investors, shareholders and JPMorgan Chase & Co .

The Johannesburg-based company earned $336 million or 47 cents a share in the fourth quarter, up 27 percent from the prior quarter. The company earned $973 million in 2011, compared with $153 million in 2010.

Stocks rose slightly on Friday, but investors stayed cautious before an long holiday weekend when hopes are set for Greece's bailout plan to be approved.

United Parcel Service Inc. is in talks with TNT Express after its Dutch rival rejected a 4.9 billion-euro ($6.45 billion) cash bid, the companies said on Friday.

Apple Inc's share of China's booming smartphone market slipped for a second straight quarter in October-December, as it lost ground to cheaper local brands and as some shoppers held off until after the iPhone 4S launch last month.

Gasoline prices jumped in January, leading overall consumer prices higher and offering a reminder of the risks energy costs pose to the economic recovery.

United Parcel Service Inc. is in talks with TNT Express after its Dutch rival rejected a 4.9 billion-euro ($6.45 billion) cash bid, the companies said on Friday.

Canada's finance minister sounded upbeat that Europe will resolve the Greek debt crisis next week following a meeting with Italian Prime Minister Mario Monti on Friday.

Macy's Inc Chief Executive Terry Lundgren on Friday told a group of aspiring fashion industry executives that the department store chain plans to hire about 4,000 full-time employees this year, roughly the same number as last year.

Credit reporting firm TransUnion Corp agreed to be acquired by buyout firm Advent International and a Goldman Sachs unit in a deal valued at $3 billion.

Rupert Murdoch's Sun newspaper prides itself on an aggressive reporting style that has delivered decades of sensational scoops and made it Britain's best-selling newspaper. But now it is the one being scrutinized, and it doesn't like it one bit.

Dutch delivery firm TNT Express said on Friday its board of directors has rejected an unsolicited takeover offer from U.S-based peer UPS worth an estimated 4.9 billion euros, but it said discussions are continuing.

European leaders expressed optimism on Friday that Greece would secure a new rescue package worth 130 billion euros ($171 billion) though policymakers admitted urgent work was still needed to get its debt-cutting program back on track.

U.S. stocks hovered near recent highs on Friday, with investors wary of making big bets heading into a holiday weekend when hopes are set for Greece's bailout plan to be approved.

The European Central Bank is weighing up whether to allow the Greek bonds held in national euro zone central banks' investment portfolios to be subjected to the same writedowns private investors are set to take, central bank sources told Reuters.

Greece edged closer on Friday to winning a new rescue package worth 130 billion euros ($170 billion) as officials said Germany was optimistic a deal could be struck despite misgivings over whether Athens would stick to commitments.

Italian police said on Friday they had seized about $6 trillion of fake U.S. Treasury bonds in Switzerland, and issued arrest warrants for eight people accused of international fraud and other financial crimes.