GOLDMAN SACHS

A New York state banking regulator said on Thursday that it had reached a pact with Goldman Sachs Group Inc on foreclosure processes that will allow the planned sale of its Litton Loan Servicing LP to continue.

Goldman Sachs and two other firms have agreed with the New York banking regulator to end the practice known as robo-signing, in which bank employees signed foreclosure documents without reviewing case files as required by law, the Wall Street Journal said.

Stock index futures pointed to a weaker open on Wall Street on Thursday, with futures for the S&P 500, Dow Jones and Nasdaq 100 down 0.1 to 0.4 percent.

The Dow Jones Industrial Average Re-enters positive territory, although the Department of Justice's suit against AT&T could derail those gains.

Bank of America Corp's mortgage practices came under fresh fire as state and federal regulators questioned whether the largest U.S. bank is doing what it must to address perceived harm to homeowners and investors.

Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with the matter.

Stock index futures pointed to a weaker open for equities on Wall Street Tuesday after steep gains in the previous session, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 0.2 to 0.3 percent.

Lehman Brothers Holdings Inc will ask a bankruptcy judge on Tuesday to let creditors vote on its $65 billion payout plan, a key step toward ending the biggest bankruptcy in U.S. history.

Switzerland's banking industry may have to slash 10,000 jobs by the end of next year, particularly at Swiss subsidiaries of big foreign banks, Swiss newspaper SonntagsZeitung reported.

Conventional wisdom in legal circles has long held that Goldman Sachs (GS.N) might escape further large fines or criminal charges for its role in the 2007-2009 financial crisis after reaching a $550 million settlement with securities regulators in July 2010.

Billionaire Warren Buffett would invest $5 billion in Bank of America Corp. (NYSE:BAC), expressing his biggest vote of confidence in the banking giant.

Legendary investor Warren Buffett made a phone call to Bank of America CEO Brian T. Moynihan on Aug. 24 and offered to invest a staggering $5 billion in the bank. The Bank of America shares had been in doldrums amid questions over its liquidity situation and rumors that it would need a massive capital injection.

Warren Buffett showed again this week that his name and money is enough to give a struggling company instant credibility in the market. But the legendary investor also demonstrated his canny command of that reputation means that such deals can immediately generate profits.

Steve Jobs on Wednesday resigned as chief executive of Apple, marking an end to his 14-year reign at the consumer electronics giant he co-founded in a garage.

Goldman Sachs is set to cut salaries for some of its London investment bankers as an agreed two-year pay rise deal comes to an end, a source familiar with the matter said.

Bank of America's shares skyrocketed 25 percent on Thursday after announcing Warren Buffett's $5 billion investment in the company.

The big price drop Wednesday in the price of gold is not the beginning of a trend, say analysts, but rather a pause in a longer term bull market that has a lot farther to run.

Several major banks cut sharply their oil price forecasts on Tuesday, with Citigroup saying that even if the United States printed more money, oil would stay depressed by weak economic growth and fresh supplies from Libya.

UBS announced cuts of 3,500 employees on Tuesday, mostly in its investment banking division, as the layoff trend continues in the banking industry.

Oil prices rose on Tuesday, boosted by better-than-expected manufacturing data in Germany and China and by uncertainty in Libya where government loyalists staged a fight back.

Stocks rose on Tuesday, but a rally from premarket trading faded for a second consecutive day, a sign the recent bout of selling may not yet be exhausted.