IBT Staff Reporter

The agency that oversees mortgage markets is preparing to file suit against more than a dozen big banks, accusing them of misrepresenting the quality of mortgages they packaged and sold during the housing bubble, The New York Times reported on Thursday.

Talks between Greece and EU/IMF/ECB inspectors on whether it has met conditions for a new aid tranche have been put on hold, a Greek official said on Friday, a day after Athens admitted it would miss its budget deficit targets this year.

Stock index futures pointed to a lower open on Wall Street on Friday, with futures for the S&P 500, Dow Jones and Nasdaq 100 all down 0.7 percent at 5:18 a.m. EDT on fears the U.S. non-farm payrolls could be weaker than expected.

Google's move to buy Motorola Mobility will not put an end to patent lawsuits against the Android platform as the web search giant is hoping, a Nokia executive said in a report on Friday.

China's top search engine Baidu Inc offered a glimpse of its upcoming mobile operating system and launched a new mobile application platform on Friday aimed at bolstering its presence in the increasingly competitive mobile web market.

AstraZeneca Plc's key cholesterol drug Crestor failed to beat Pfizer Inc's Lipitor in a head-to-head clinical study, limiting any protection the British company will get as its U.S. rival faces competition from cheap generic copies.

The Federal Reserve has asked Bank of America Corp to show what measures it could take if business conditions worsen, the Wall Street Journal said, citing people familiar with the situation.

The Federal Reserve has asked Bank of America Corp to show what measures it could take if business conditions worsen, the Wall Street Journal said, citing people familiar with the situation.

Europe's most indebted nations are under heavy pressure from their richer neighbors to sort out their finances, but they are unlikely to mimic the impoverished gentlefolk of old by selling off the family silver -- or in their case, gold -- to do so.

China's top search engine Baidu Inc launched a new mobile application system on Friday, seeking to bolster its presence in the mobile web as competitors including Alibaba Group increase their mobile offerings.

China's Communist Party control is at risk unless the government takes firmer steps to stop Internet opinion being shaped by increasingly organized political foes, a team of party writers warned in a commentary published on Friday.

U.S. drugmaker Eli Lilly & Co is in talks to form a partnership with, and potentially invest in, Turkish generic-drug company Mustafa Nevzat Ilac Sanayii AS , the Wall Street Journal reported, citing people familiar with the matter.

Nobody on the road, nobody on the beach; you can feel it at the box office, the summer's out of reach.

The parents of a Southern California man who accuse police of killing their son with a Taser after he honked at a patrol car have sued the sheriff's department and county.

Five patients being treated for eye disease were blinded after being injected with Roche Holding AG's Avastin at the Los Angeles Veterans Affairs medical center, according to the New York Times.

Citigroup Inc has hired Deutsche Bank AG's David Murphy as head of its prime finance unit in Asia-Pacific, according to an internal memo seen by Reuters, as part of an plan to gain market share in the fiercely competitive industry.

The problems of liquidity and confidence in Europe are not as severe as during post-Lehman crash, but are heading in that direction, ECB Governing Council member Luc Coene said in an interview published on Friday.

David Cameron has pledged the continuance of the combined UN and Nato operation against Libya, to prevent a pariah state on the borders of Europe.

China's top search engine Baidu Inc on Friday launched its new mobile application system, Baidu Yi, it said in a statement.

New Japanese Prime Minister Yoshihiko Noda picked a relatively lightweight lawmaker as finance minister on Friday, signaling the fiscally conservative leader intends to call the shots on key economic policies himself.

Italian employers' group Confindustria slammed the government's austerity plan as weak and inadequate on Thursday and expressed concern about how Italy's economic problems are being handled.

The Justice Department made a bold move when it sued to block AT&T Inc's $39 billion acquisition of T-Mobile. Now comes the hard part: going to court.

Sagging consumer confidence probably discouraged already skittish U.S. businesses from stepping up hiring in August, keeping pressure on the Federal Reserve to provide more monetary stimulus to aid the economy.

Sagging consumer confidence probably discouraged already skittish U.S. businesses from stepping up hiring in August, keeping pressure on the Federal Reserve to provide more monetary stimulus to aid the economy.

New Japanese Prime Minister Yoshihiko Noda picked a relatively inexperienced lawmaker as finance minister on Friday, signaling the fiscally conservative leader will call the shots on key economic policies.

Jun Azumi, a former parliamentary affairs chief for the ruling Democratic Party, will become Japan's new finance minister, local media said, after new Prime Minister Yoshihiko Noda's first choice for the job reportedly turned it down.

Italian employers' group Confindustria slammed the government's austerity plan as weak and inadequate on Thursday and expressed concern about how Italy's economic problems are being handled.

Kiss frontman Gene Simmons will marry his girlfriend of 28 years, the actress and former Playmate Shannon Tweed, in an October ceremony, his representative said on Thursday.

Cher has slammed the stupid bigots who have attacked the casting of her transgender son Chaz on TV show Dancing with the Stars, and called on her fans to flood social media websites with messages of support.