IBT Staff Reporter

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AIG, Greenberg in settlement talks: report

American International Group Inc and its former Chief Executive Maurice Hank Greenberg are in advanced talks to settle their legal disputes, the Wall Street Journal reported on Friday.

Daily Tech Round Up - Oct. 16

Apple Inc is once again expected to top Wall Street's estimates when it unveils quarterly earnings next week, but it may have to truly impress to galvanize an already lofty share price.

Judge extends probation for Lindsay Lohan

A judge on Friday extended Lindsay Lohan's probation on drunken driving and other criminal charges for one more year, telling the struggling actress to get serious about her alcohol education program.

Nicolas Cage sues ex-manager for financial ruin

Actor Nicolas Cage filed a $20 million lawsuit against his former business manager on Friday, accusing him of negligence and fraud that sent the National Treasure star down a path toward financial ruin.

Cable network TLC sues reality star Jon Gosselin

Cable television network TLC on Friday sued Jon Gosselin, the father of eight who stars in the channel's reality show Jon & Kate Plus Eight, accusing him of violating his contract by appearing on other programs.

BofA swings to $1 billion loss

Bank of America Corp posted a $1 billion quarterly loss on Friday as consumer credit woes eclipsed investment banking earnings, underlining why the bank remains on a government respirator.

Dollar recoups some losses as risk appetite fades

The dollar recovered some of the week's losses on Friday, as news of a large quarterly loss at Bank of America and flagging consumer confidence dulled investor demand for higher-yielding, higher-risk currencies.

Oil prices rise to 12-month high above $78

Crude oil rose to a one-year high above $78 a barrel on Friday after data showed U.S. industrial production expanded in September, boosting optimism for an economic recovery.

Market regulators urge tougher enforcement

U.S. securities and futures regulators asked Congress on Friday for more authority to police their markets, including legislation to help rein in insider trading in the commodity futures markets.

U.S. charges 6 with hedge fund insider trading

Galleon hedge fund partner Raj Rajaratnam and five others were charged with crimes including securities fraud and conspiracy involving insider trading that generated more than $20 million in profits, U.S. prosecutors and the FBI said on Friday.

Banks must yield to tighter regulation: Summers

All financial firms have benefited from U.S. taxpayer support and must yield to efforts to tighten regulation to prevent a future crisis, White House economic adviser Lawrence Summers said on Friday.

U.S. charges 6 in record insider trading case

Galleon hedge fund partner Raj Rajaratnam and five others were charged with crimes including securities fraud and conspiracy involving insider trading that generated more than $20 million in profits, U.S. prosecutors and the FBI said on Friday.

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