IBT Staff Reporter

Europe's banking stress test included a haircut on German sovereign debt under certain conditions in its worst scenario, a German magazine reported.

Some business groups, upset about budget and regulatory policies they say are costing jobs, are accusing President Barack Obama of pursuing an agenda that is hurting the U.S. economic recovery.

Troubled state conglomerate Dubai World has invited creditors to a July 22 meeting to offer details on its proposed debt restructuring, the first such session to include all lenders since December last year.

China's Ministry of Industry and Information Technology said it had renewed the Chinese operating license of Internet giant Google Inc, confirming an announcement made by the company on Friday.

Maine Senator Olympia Snowe said on Saturday she has not decided which way to vote on crucial financial reform legislation, with the most important thing being to get it right.

Bank of America Corp is beefing up its internal accounting controls after it incorrectly classified as much as $10.7 billion in short-term lending and repurchase deals for mortgage securities as sales, according to a letter filed on Friday with U.S. securities regulators.

It's too early to say the economic crisis in Germany has passed because considerable risks to the recovery remain, the head of the Federal Labour Office, Frank-Juergen Weise, was quoted as saying on Saturday. Weise told German newspaper Rheinpfalz am Sonntag that while developments on the labor market were better than expected, he was worried the economic crisis is being declared over, he sai...

Russian flagship airline Aeroflot expects to acquire 22 Boeing Dreamliners and 22 Airbus A350s by 2016 as it expands its fleet, CEO Vitaly Savelyev told Prime Minister Vladimir Putin.

Iraq's oil minister said on Saturday he sees no impact from the massive oil spill at a BP well in the Gulf of Mexico on Iraq's current or future projects to develop its giant oilfields.

Crude oil futures finished the week on a positive note, tracking stocks upward after hitting the low for a month earlier in the week. The benchmark West Texas intermediate contract settled Friday at $76.09 a barrel, up 65 cents on the day. On Tuesday, the contract declined for the sixth session in a row, closing at $71.98, its first dip below $72 in a month.

Britain's ambassador to Lebanon said she regretted any offence caused by her blog praising Grand Ayatollah Mohammed Hussein Fadlallah, an early spiritual mentor of Hezbollah who died on Sunday.

China gave Google Inc approval to keep operating its Chinese search page, resolving a months-long censorship dispute that had threatened its future in the world's top Internet market.

Technical weekly Analysis for EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD and AUD/USD.

China's trade surplus in June topped expectations on surprising strength in exports that suggests the global economic recovery has remained on track despite worries about a fresh slowdown.

The U.S. economy will lose steam as the year progresses but will not slide back into recession, even though unemployment is unlikely to fall significantly, according to a survey released on Saturday.

U.S. regulators on Friday closed Home National Bank in Oklahoma and U.S.A. Bank in New York the Federal Deposit Insurance Corp said.

The U.S. stock market landed at a technical crossroads following its best week in a year, yet the potential for positive earnings surprises beginning next week could give an edge to the bulls.

Wells Fargo & Co will no longer offer free checking for all new customers opening accounts at the bank, a company spokeswoman told Reuters on Friday.

The founder and chairman of Barnes & Noble Inc defended a poison pill plan adopted by the largest U.S. bookseller that blocked billionaire investor Ron Burkle from amassing large amounts of stock.

Some investors are betting on major technology stocks ahead of the earnings season kicking off next week, seeing them as oversold on fears about the slowing U.S. and European economies.

Apple Inc boss Steve Jobs was a no-show at an annual pow-wow of media and technology moguls in Sun Valley. But he was far from forgotten.

A U.S. judge slashed the penalty levied by a jury against a Boston Ph.D. student found guilty in 2009 of illegally downloading and sharing songs published by some of the world's biggest recording companies.

General Growth Properties Inc wants to replace its $400 million loan, issued last year to ensure the company could operate through bankruptcy, with one that would save it $2.7 million a month in interest payments.

Wall Street closed out its best week in a year on Friday, snapping back from a long stretch of selling, as investors looked ahead to what many expect will be a solid earnings season.

Despite the recent lows that Treasury yields across the curve have plumbed, primary dealers are expecting Monday's sale of $35 billion in three-year notes to proceed without a hitch and, unless there is a significant rally immediately beforehand, without a tail.

Most U.S. counties are having to cut back on spending on safety and infrastructure in the face of monstrous revenue shortfalls, the National Association of Counties said on Friday.

Wall Street closed out its best week in a year on Friday, snapping back from a long stretch of selling, as investors looked ahead to the start of the earnings season.

European finance ministers will shift their focus next week onto a possible need for banks to raise more capital and on who will cover any shortfalls exposed by stress tests -- a sum which Credit Suisse estimated could reach 90 billion euros ($114 billion).

Hundreds of Egyptians protested in Cairo and other cities on Friday over the death of an activist, whose case has raised concerns among Western governments and has spurred demonstrations at home calling for political change.