IBT Staff Reporter

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BofA to test overdraft program, cut branches

Bank of America Corp will test an overdraft program in the first quarter of next year, allowing customers to accept an overdraft fee when a debit transaction is turned down, a company executive said on Friday.

Stealth Helicopter Used In Bin Laden Raid

At least one of the helicopters used in the raid on Osama bin Laden's compound might have been a new stealth design, according to several reports emerging from the scene.

SEC in JPMorgan talks, subpoenas Credit Suisse

JPMorgan Chase & Co is in advanced discussions with the U.S. Securities and Exchange Commission to resolve a probe into its role in selling collateralized debt obligations, the bank said.

Downturn hands Glencore investors pricing power

European mutual fund managers sense an opportunity to drive down the price of Glencore International's bumper $11 billion listing, as fears of slowing global economic growth rattles commodity markets.

Spanish recovery still too modest for comfort

Spain's economic recovery remained fragile at the start of the year, despite a pick up in exports and more people coming to its beaches, and doubts persist over the country's ability to grow fast enough to reduce its debt burden.

U.S. targets bankers in HSBC laundering probe: source

ST. LOUIS, May 5 - The Justice Department's money-laundering probe against banking giant HSBC Holdings Plc is looking at possible prosecution of individual bankers, a source close to the investigation said on Thursday.

Damages claims hang over Glencore as IPO looms

Commodities trader Glencore is being pursued for as much as $900 million in damages through lawsuits including a long-running U.S. case linking it to pollution in the U.S. Virgin Islands.

Private sector hiring hits 5-year high in April

U.S. private employers shrugged off high energy prices to add jobs at the fastest pace in five years in April, pointing to underlying strength in the economy, even as the jobless rate rose to 9.0 percent.

Real Madrid - UEFA suspends Mourinho for five games

European football's governing body, UEFA, has suspended Real Madrid manager Jose Mourinho for five games by Uefa with a fine of £44,000, punishing him for his conduct during and after the first leg of his side's Champions League semifinal against Barcelona.

Oil seesaws on jobs data after early slide

Oil prices seesawed on Friday turning positive on better than expected U.S. jobs data, which eased fears about global economic recovery that led to a 10-percent price crash the previous day.

Sony CEO apologizes to gamers

Sony Chief Executive Officer Howard Stringer apologized to users of its PlayStation Network and other online services, breaking his silence on the biggest Internet security break-in ever.

Wall Street set for higher open on payrolls data

U.S. stocks were set for a higher open on Friday, putting the S&P on track to snap a four-day losing streak, after an unexpectedly strong payrolls report eased fears about the path of the economic recovery.

Economy posts largest job gains in 11 months

U.S. private employers shrugged off high energy prices to add jobs at the fastest pace in five years in April, pointing to underlying strength in the economy, even as the jobless rate rose to 9.0 percent.

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