IBT Staff Reporter

The S&P clung to a two-year high on Friday as investors predicted a pause as volumes are expected to dry up in the days ahead, and after a 5 percent gain already so far in December.

U.S. regulators have opened a new line of inquiry in their mortgage foreclosure probe and are asking big Wall Street banks about the beginning stages of mortgage securitization, two sources familiar with the probe said.

Bank of Montreal will buy troubled Wisconsin lender Marshall & Ilsley Corp for $4.1 billion in stock, the biggest in a series of deals in which Canadian banks have snapped up weakened rivals.

The estate of Jeffry Picower settled a $7.2 billion lawsuit filed by the Madoff firm trustee, significantly increasing the amount available to repay investors swindled in the epic fraud, U.S. officials said on Friday.

Nigeria's anti-corruption agency said on Friday it had dropped bribery charges against former U.S. Vice President Dick Cheney and oil services company Halliburton after the company agreed to pay a fine.

The S&P 500 closed slightly higher on Friday to cling to a two-year high, while investors predicted a pause in the days ahead, when volumes are expected to dry up and after a 5 percent gain so far in December.

Comcast Corp will offer new programing targeted at African and Asian Americans if it is allowed to buy a majority stake in General Electric Co's NBC Universal, the company announced this week in agreements with civil rights groups.

Japanese carrier NTT DoCoMo Inc <9437.T> plans to transfer television broadcast technology for cellular phones to Indian partner Tata Teleservices with an eye to launching mobile phone TV service in the South Asian country in 2014, the Nikkei reported.

- A measure of future U.S. economic growth rose to its highest level since May in the latest week, a research group said on Friday.

Google Inc has told the Connecticut attorney general's office that it will not comply with its requests for information about its Street View cars collecting personal information.

Whistleblower site Wikileaks founder Julian Assange, who has been in spotlight for exposing diplomatic cables, seems to have a cablegate scandal of his own, as some of his emails recording his attempt to court a teenager have surfaced.

Nerbrand's team at HSBC reckon that Gold Investment accounts for just 0.14% of the average global portfolio today. If this figure increases, as we expect, the Gold Price could rise significantly...We believe asset allocators are likely to increase their weighting in gold over the next ten years if they focus on risk management

Wall Street may have underestimated a recovery in corporate spending, judging by stronger-than-expected results and outlooks from business software maker Oracle Corp and technology services firm Accenture Plc .

A federal jury has found two former engineers of Wyko Tire Technology Inc., guilty of stealing trade secrets from the Goodyear Tire and Rubber Company.

The estate of Madoff insider Jeffry Picower settled civil claims of $7.2 billion on Friday, significantly boosting the amount available to repay investors swindled in the epic fraud.

Smartphones such as Google Inc's Android-based devices and Apple Inc's iPhone are poised to become popular business tools, said an executive at the world's biggest technology distributor.

The state of Arizona has sued Bank of America Corp alleging the lender consistently misled consumers about its home loan modification process, a source familiar with the situation said.

Australia restricted England to an abysmal 187 through a brilliant Mitchell Johnson's 6-38 before extending their lead to 200 runs in their second innings on the second day of the third Ashes test at Perth.

Bank of Montreal will buy troubled Wisconsin lender Marshall & Ilsley Corp for $4.1 billion in an all-stock deal, the biggest in a series of deals in which Canadian banks have snapped up weakened rivals.

Dell Computer has run into some hiccups delivering its VenuePro Smartphone, but is offering anyone who ordered one before Dec. 14 a free set of headphones.

At least three brokerages raised their target prices on Oracle Corp on Friday, a day after the business software maker forecast third-quarter profit to be above Wall Street estimates.

Part-nationalized British bank Lloyds warned it would take a further hit from its troublesome Irish portfolio as a result of Ireland's economic problems.

Sony has announced that it is bringing its PlayStation platform experience on iPhone and Android via apps.

News Corp is set to win European Union regulatory clearance to acquire full control of dominant British pay-TV group BSkyB without the need for concessions, a source familiar with the case said on Friday.

U.S. state and local governments faced the realization on Friday that in just 14 days they will no longer be able to sell taxable Build America Bonds, the federally subsidized debt created in the economic stimulus plan to fund infrastructure projects and create jobs.

The U.S. Department of Commerce has unveiled its recommendations for improving online privacy practices, and has called for a privacy bill of rights that would help regulate the way personal data is used.

Classified US diplomatic cables leaked by whistle-blower site Wikileaks revealed that the International Committee for Red Cross (ICRC) briefed US officials over the continued ill-treatment of detainees in Kashmir by the armed forces and the police. Some cables stated that the government-nurtured militia committed brutal human rights abuses including extra-judicial killings, rapes and extortion of Kashmiri civilians suspected of harboring extremists in the Valley.

In 2011, journal Science's editors will be watching a smaller detector at the Large Hadron Collider called LHCb; new techniques that should lead to the discovery of many more genes; an ignited fusion burn; the first plug-in hybrid electric cars whose batteries are charged from a wall socket go on the market; and and results from a late-stage trial of a malaria vaccine in Africa.