IBT Staff Reporter

Nasdaq is abandoning its 797 million pound ($1.58 billion) stake in the London Stock Exchange, five months after its takeover bid failed, as it focuses on buying Nordic exchange operator OMX. Nasdaq Stock Market Inc, which needs overseas acquisitions to gain an international foothold, is locked in a $4 billion bidding war with Borse Dubai for OMX.

HSBC Holdings Plc said on Monday it was in talks to buy a majority stake in Korea Exchange Bank (KEB) worth $4.8 billion from Lone Star, the latest chapter in a lengthy financial and judicial saga.

U.S. index futures pointed to a firmer start on Wall Street on Monday, building on gains in the previous session after the Federal Reserve cut the discount rate it charges banks, and with little scheduled news on the agenda.

U.S. antitrust regulators appealed a court ruling on Friday which denied their request to block the largest natural grocer, Whole Foods Market Inc., from acquiring its closest rival, Wild Oats Markets Inc.

Dendreon Corp. (Nasdaq: DNDN) said its breast cancer vaccine Neuvenge appeared to be safe, according to results of an initial study.

Pfizer’s effort to extend the patent for its best-selling cholesterol-reducing drug Lipitor an additional 15 months into 2011 has been dealt preliminary setback.

The Federal Reserve came to the stock market's rescue on Friday but unless credit markets remain stable next week, the salvation may prove little more than a brief respite from its late summer sell-off.

Just 10 days after reiterating that inflation was its main concern, the U.S. Federal Reserve's policy-setting panel made a 180-degree turn on Friday, laying the groundwork for an interest rate cut as early as next month.

Clients are urged to sell shares and build up cash until stock markets settle and low prices opportunities emerge.

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The stock market is swinging but there are no signs the rich are buckling their Pradas.

The top executive at General Motors Corp said on Friday that U.S. consumers appeared to be holding up well despite the recent credit crisis that roiled world markets and prompted the U.S. central bank to cut rates.

U.S. consumer sentiment deteriorated in August to its weakest in a year as more expensive oil, declining home prices and turmoil in financial markets all hurt confidence.

A U.S. Appeals Court on Friday reversed a lower court decision and allowed a class-action lawsuit against Cingular Wireless to go ahead.

Retailer Toys R Us on Friday said it removed all Hamco Inc.'s vinyl baby bibs, which were made in China, from its shelves as a precaution after an independent tester found two samples of bibs containing excessive amounts of lead.

Dow Jones & Co Inc Chief Executive Richard Zannino said on Friday that a worsening credit market likely would force the company to pay more to refinance debt.

The stock market is swinging like a pendulum and the credit market is getting tighter than a drum but there are no signs the rich are buckling their Pradas to hold onto their bucks.

Countrywide Financial Corp shares leaped higher on Friday after the U.S. Federal Reserve lowered a key borrowing rate, making it easier for lenders to obtain credit.

A group of major banks meeting in a conference call with U.S. monetary policy officials expressed strong support for the Federal Reserve's move on Friday to bring stability to volatile financial markets by reducing the discount lending rate.

U.S. stocks rose on Friday after the Federal Reserve cut the discount rate at which it lends to banks in a surprise move to keep worsening credit conditions from hurting the economy.

The U.S. Federal Reserve sought to bring order to volatile financial markets experiencing tighter credit conditions on Friday by lowering the rate at which it makes short-term loans to commercial banks and other institutions.

The global credit squeeze is removing a crutch that has done much to prop up the U.S. stock market during the past 18 months.

Peanut butter and jelly maker J.M. Smucker Co. said on Friday quarterly profit rose a better-than-expected 42 percent, helped by the acquisition of dairy company Eagle Family Foods, lower restructuring costs and gross margin improvement.

Film company United Artists,will use the funds for 15 to 18 movies over the next five years.

U.S. stock market Nasdaq said on Friday that it remained committed to its plan to acquire Nordic exchange OMX and urged shareholders to support its bid after a $4 billion rival offer emerged from Borse Dubai.

France's biggest listed bank BNP Paribas said its exposure to subprime risk was limited and manageable as it moved to reassure investors a week after rattling markets by freezing three of its funds.

An investment arm of U.S. insurance giant AIG has completed the planned acquisition of 90 percent of Bulgaria's dominant telecoms company BTC, AIG said on Friday.

Ping An Insurance (Group) Co., China's second-largest life insurer, posted a 140 percent gain in first-half profit late on Thursday, driven by a contribution from its banking operations and strong investment returns amid a booming domestic stock market.

The United States cannot renegotiate a historic nuclear energy deal with India which has drawn strong criticism from politicians in New Delhi, the main U.S. negotiator said in remarks published on Friday.