IBT Staff Reporter

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Wall Street tumbles on Europe debt worries

U.S. stocks fell on Friday as worry persisted about a financial meltdown stemming from the European debt crisis and after a dramatic intraday drop in indexes in the previous session.

Regulators look to soothe markets' raw nerves

The Securities and Exchange Commission held urgent discussions on Friday to calm investors' raw nerves a day after a plunge of nearly 1,000 points in the Dow Jones industrial average, during which some stocks lost more than 60 percent of their value.

AIG posts first-quarter profit

American International Group Inc posted a first-quarter profit, reversing a year-earlier loss, as the bailed-out insurer's investment portfolio gained in value.

Consumer Reports lifts warning on Lexus SUV

Consumer Reports lifted on Friday its warning not to buy Toyota Motor Corp's Lexus GX 460 sports utility vehicle, after the automaker recalled vehicles for repairs and made changes on the assembly line.

Futures up after stronger payrolls data, sell-off

U.S. stocks index futures rose in volatile trade on Friday, pointing to a higher open after a steep fall in the previous session, as data showed the economy added jobs at the fastest pace in four years.

General Growth expected to back Brookfield

General Growth Properties Inc is expected to ask a bankruptcy court on Friday to approve an investment led by Brookfield Asset Management Inc , after reducing a related warrants package by 14 percent, a source familiar with the situation said.

Indian billionaire Mukesh Ambani wins gas ruling

India's richest man, Mukesh Ambani, scored a win against his estranged brother on Friday when the Supreme Court ruled they must renegotiate a deal over the country's largest gas field, effectively giving the government control over gas prices.

Contagion fears go global

Stocks worldwide plunged as fears about Greece's debt crisis went global, with investors seeing it as an omen of turmoil in other European economies and governments struggling to calm markets.

Futures pare gains ahead of payrolls report

U.S. stock index futures pared gains on Friday ahead of the U.S. government's April payrolls report, as nervous investors braced for volatility in the markets following Thursday's dramatic intraday bounce in shares.

Futures gain after sell-off

U.S. stock index futures rose on Friday, with shares set to rebound after a steep fall in the previous session and ahead of a report expected to show the U.S. economy added more jobs last month.

Futures gain after sell-off, payrolls eyed

U.S. stock index futures rose on Friday, with shares set to rebound after a steep fall in the previous session and ahead of a report expected to show the U.S. economy added more jobs last month.

Goldman Sachs in settlement talks with SEC: report

Goldman Sachs Group Inc's lawyers are in talks with representatives of the U.S. Securities and Exchange Commission to settle the fraud charges brought against it by the regulator, the Wall Street Journal said, citing people familiar with the situation.

UK's RBS beats expectations with return to profit

Royal Bank of Scotland beat expectations with a return to profit in the first quarter as bad debts continued to shrink, even as investment banking earnings more than halved from its strong start to last year.

India court backs Reliance Industries in gas row

India's Supreme Court on Friday ruled in favor of billionaire Mukesh Ambani in a gas pricing dispute with brother Anil, closing a chapter on a five-year battle that now gives the government control over setting prices.

Equity selloff snowballs; sterling tumbles

World stocks extended sharp falls on Friday while government bonds rose as a global rout triggered by fears of contagion from the euro zone debt crisis prompted investors to dump risky assets.

Broccoli help to treat breast cancer

A compound derived from broccoli could help prevent or treat breast cancer by targeting cancer stem cells according to a new study from researchers at the University of Michigan Comprehensive Cancer Center.

Stocks battered, pound bruised as fears persist

European stocks are primed for a pummeling on Friday, following ravaged U.S. and Asian shares, as Europe's debt crisis sent waves of dread through global markets and battered sterling and the euro.

UK's RBS returns to profit in Q1

Royal Bank of Scotland beat expectations with a return to profit in the first quarter as bad debts continued to shrink, even as investment banking profits more than halved after a bumper start to last year.

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