IBT Staff Reporter

Budding bankers expecting the bumper bonuses of years gone by will have to think again, with only the top performers likely to be paid top dollar.

Royal Bank of Scotland's Chairman Philip Hampton will not pick up a 1.4 million pound ($2.2 million) stock bonus, the bailed-out bank said, following public anger and political squabbling over a 1 million pound bonus for its chief executive.

The breakup of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday.

The break-up of Switzerland's oldest bank Wegelin on Friday shows the need to settle a dispute with U.S. authorities over tax cheats hiding cash in secret Swiss accounts, the finance minister said on Saturday.

Greece and its private creditors head back to the negotiating table on Saturday to put together the final pieces of a long-awaited debt swap agreement needed to avert an unruly default.

Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday.

Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday.

Lab-manufactured blood vessels may soon replace riskier bypass surgeries for heart attack patients after a team of researchers from the Cambridge University successfully developed the three main types of cells that make up the wall of a blood vessel.

Europeans are making progress in overcoming the Eurozone crisis, but they need to do more to bolster their financial firewall, International Monetary Fund Managing Director Christine Lagarde said on Saturday, adding that the IMF is ready to help.

Rupert Murdoch's News Corp. is in "serious talks" to poach veteran Bloomberg LP executive Lex Fenwick to run its Dow Jones publishing business, which houses The Wall Street Journal, according to two people familiar with the discussions.

Rupert Murdoch's News Corp is in serious talks to poach veteran Bloomberg LP executive Lex Fenwick to run its Dow Jones publishing business, which houses the Wall Street Journal, according to two people familiar with the discussions.

In his final act before departing the Securities and Exchange Commission on Friday, the agency's inspector general, David Kotz, criticized how the agency analyzes the economic impact of some of its Dodd-Frank rules.

Fitch downgraded the sovereign credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain on Friday, indicating there was a 1-in-2 chance of further cuts in the next two years.

Hotel companies and real estate firms are optimistic that deal transactions will pick up this year despite concerns about Europe's economy and challenges in obtaining debt financing.

January has turned out strong for equities with just two trading days to go. If you're afraid to miss the ride, there's still time to jump in. You just might want to wear a neck brace.

Research In Motion Ltd.'s Thorsten Heins plans to waste no time in his new job. The BlackBerry maker's CEO said he will present the board with his plans for company's future in just a matter of weeks. The German-born executive, who took over last weekend, said his plans for RIM would be significant.

Research in Motion's Thorsten Heins plans to waste no time in his new job. The BlackBerry maker's chief executive said he will present the board with his plan for company's future in just a matter of weeks.

The names of a top executive at Berkshire Hathaway Inc. and a board member at Goldman Sachs Group Inc. surfaced on Friday as potential witnesses in the insider-trading trial of Rajat Gupta, a former director of Goldman, the Procter & Gamble Co., and other companies.

The names of a Goldman Sachs board member and a top executive of Berkshire Hathaway surfaced on Friday as potential witnesses in the insider trading trial of Rajat Gupta, a former director of Goldman, Procter & Gamble and other companies.

Former Groupon Inc sales representatives sued by that company after leaving for Google Inc have filed a countersuit, claiming their former employer is pursuing sham litigation to keep them from joining rivals.

Apple's Steve Jobs directly asked former Google Chief Executive Eric Schmidt to stop trying to recruit an Apple engineer, a transgression that threatened one junior Google employee's job, according to a court filing.

It has only been a few days since the Federal Reserve adopted a formal goal for inflation, and already policymakers are missing their target.

Apple's Steve Jobs directly asked former Google Chief Executive Eric Schmidt in 2007 to stop trying to recruit an Apple engineer, according to a court filing.

The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors, Attorney General Eric Holder said on Friday.

Greece expects to clinch a long-awaited bond swap deal within days, Prime Minister Lucas Papademos told Reuters Friday, promising the country would avoid an unruly default feared by financial markets worldwide.

Wal-Mart Stores Inc said on Friday that its U.S. marketing team would now work under the leadership of its chief merchandising officer rather than as a separate group as the world's largest retailer works on improving its communication with shoppers.

Even as President Barack Obama is calling for more assistance for struggling mortgage borrowers, major banks are looking forward to spending less to handle problem home loans.

Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday.

Vancouver-based Goldcorp announced Friday that the royalty on the production of precious metals will increase to 4 percent of gross revenue, up from 1 percent.